I agree with Gail. You need to provide more information. Taxes on retirement funds are only calculated when you withdraw the money. For most plans, if you withdraw the money before age 59 1/2 you have a 10% penalty.However, most states have a defined benefit plan but allow for lump-sum distributions. Normally, there is a large deduction if the a lump-sum distribution is selected because they expect that you will have investment earnings that the plan would have had. After that deduction, you get taxed on what they pay out. Provide more information and someone on this board can probably help you out.CJ
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