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Thread: Retiring at MRA in Pennsylvania?

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    Default Retiring at MRA in Pennsylvania?

    So I have a long ways to go until retirement, but I enjoy reading up on the topic. Anybody on here retired and living in PA? I've read that PA doesn't recognize federal exceptions for taking 401(k)/TSP distributions before 59.5 years old (Fed gives exception to folks who put in 30+ years and retired at their MRA)? PA taxes you on your 401(k)/TSP contributions (kind of in the spirit of a ROTH retirement vehicle), but doesn't tax your withdrawals, so it doesn't make sense to me that they would penalize you for withdrawing before 59.5, since they've already got their take upfront, why wouldn't they honor the federal exceptions?

    Anyone have any first hand experience in regards to this?


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  3. #2

    Default Re: Retiring at MRA in Pennsylvania?

    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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  5. #3

    Default Re: Retiring at MRA in Pennsylvania?

    Hi - I retired at 57 - my MRA - and didn't get taxed for all income in PA.


    Quote Originally Posted by djlc86 View Post
    So I have a long ways to go until retirement, but I enjoy reading up on the topic. Anybody on here retired and living in PA? I've read that PA doesn't recognize federal exceptions for taking 401(k)/TSP distributions before 59.5 years old (Fed gives exception to folks who put in 30+ years and retired at their MRA)? PA taxes you on your 401(k)/TSP contributions (kind of in the spirit of a ROTH retirement vehicle), but doesn't tax your withdrawals, so it doesn't make sense to me that they would penalize you for withdrawing before 59.5, since they've already got their take upfront, why wouldn't they honor the federal exceptions?

    Anyone have any first hand experience in regards to this?
    Emotions should never play a role in one's investing strategy!
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