Have a Tax Question? Ask a Tax Expert
As a member of the I.B.E.W. - you are eligible to apply for a normal retirement pension if they have five (5) or more years of continuous good standing at the time of their application for pension, and have reached age sixty-five (65).
Under certain circumstances you may apply for either for normal pension, OR early retirement pension, OR disability pension.
So if you are below 65 and did not apply for early retirement pension - that woudl be your disability pension.
If you are above 65 - that is your normal retirement pension.
Let me know if you need any help with reporting on your tax return.
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8 Mar 2016, 10:01 AM
Yes - disability pension is taxable and it is taxed the same way as wages as long as you have not reached age sixty-five (65).To estimate your expected tax liability we will need to know
- TOTAL income
- filing status
- possible deductions and credits you normally claim.
For tax rate schedule - see here
Fort instance - if you are single - taxable income between $37,650 to $91,150 is taxes at 25% rate,
Let me know if you need help with estimations.