Early Retirement question


G

Guest

I would appreciate it if someone could point me in the right direction (IRS
publication) to find the answer to this:

I have a client who wants to retire at age 58. He wants to know if his
pension is exempt from FICA and FICM? This is a defined benefit plan into
which he paid no money.

Thanks,
 
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A

Arthur Kamlet

I would appreciate it if someone could point me in the right direction (IRS
publication) to find the answer to this:

I have a client who wants to retire at age 58. He wants to know if his
pension is exempt from FICA and FICM? This is a defined benefit plan into
which he paid no money.


Pensions are not subject to social security or Medicare tax.
 

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