Legal Question in Tax Law in Florida

Taxable pensions

I am a disabled police officer retired since 1986 at age 56 with a full 25 year pension. I have a permanent disability - hearing loss of 80% - incurred while on the job. Since 1986 this pension has been non-taxable. I am told now by the IRS and my accountant since I have reached the age of 65 it becomes a retirement pension and taxable. Is this information correct?

Asked on 4/29/02, 1:54 pm

1 Answer from Attorneys

Sanford Martin Martin Law Office
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Re: Taxable pensions

Yes, many police/fire pension plans provide for disabiity/retirement conversion based on mandatory retirement age. The payments become taxable at date of what would have been retirement since most such plans are involve limited participant contributions.

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5/01/02, 11:30 am

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