troutnut1
Recycles dryer sheets
I retired from a state job with a decent 457B plan. I have the funds in a very safe “Fixed Fund” paying about 2.6% which is just building up the balance as I haven’t taken any distributions. My wife is taking her social security and I get half of her amount while waiting for my larger amount at 70. I am wondering whether I need to report the earnings from this account somewhere and whether it will affect the % of our social security That is taxable? The plans sponsor doesn’t seem to put out any tax forms for me online, nor do I receive anything in the mail. I presume they will if I make a distribution, but otherwise nothing. Would these earnings be considered “tax exempt interest” that would affect the % of our social security that gets taxed even though I leave it untouched in the account?
Thanks in advance for any help. I have scoured the internet and can’t seem to find anything on it.
Thanks in advance for any help. I have scoured the internet and can’t seem to find anything on it.