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Although severance payments are required to be reported (they are looked at as wages) pension distributions are not.
You can see in the following that 401k is not considered wages
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That is a distribution form a retirement account and it is not wages. It does not matter if it is an early distribution or made when you are at retirement age. Not income for UI
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I hope that clarified for you.
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If you made all the contributions then the reduction would not be enforce.
Then Mass will reduce by a portion.