Publication 575 - Pension And Annuity Income - 2002 Page 2
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34Rollover by surviving spouse. You may be able to roll
For additional information on how to report pen-
TIP
over a distribution made after 2001 you receive as the
sion or annuity payments on your federal income
surviving spouse of a deceased employee into a qualified
tax return, be sure to review the instructions on
retirement plan or a traditional IRA. See Rollovers.
the back of Copies B and C of the Form 1099 –R that you
received and the instructions for lines 16a and 16b of Form
Eligible rollover distribution. You may be able to roll
1040 (lines 12a and 12b of Form 1040A).
over the nontaxable part of a retirement plan distribution
made after 2001 to another qualified retirement plan or a
What is not covered in this publication? The following
traditional IRA. See Rollovers.
topics are not discussed in this publication.
Section 457 plan early distributions. The tax on early
•
The General Rule. This is the method generally
distributions may apply to certain distributions made from
used to determine the tax treatment of pension and
an eligible state or local government section 457 deferred
annuity income from nonqualified plans (including
compensation plan after 2001. See Tax on Early Distribu-
commercial annuities). For a qualified plan, you gen-
tions.
erally cannot use the General Rule unless your an-
nuity starting date is before November 19, 1996.
Important Reminder
Although this publication will help you determine
whether you can use the General Rule, it will not
help you use it to determine the tax treatment of your
Photographs of missing children. The Internal Reve-
pension or annuity income. For more information on
nue Service is a proud partner with the National Center for
the General Rule, see Publication 939, General Rule
Missing and Exploited Children. Photographs of missing
for Pensions and Annuities.
children selected by the Center may appear in this publica-
•
tion on pages that would otherwise be blank. You can help
Individual retirement arrangements (IRAs). Infor-
bring these children home by looking at the photographs
mation on the tax treatment of amounts you receive
and calling 1– 800 – THE –LOST (1 –800 – 843 –5678) if
from an IRA is in Publication 590, Individual Retire-
you recognize a child.
ment Arrangements (IRAs).
•
Civil service retirement benefits. If you are retired
from the federal government (either regular or disa-
Introduction
bility retirement) or are the survivor or beneficiary of
This publication gives you the information you need to
a federal employee or retiree who died, get Publica-
determine the tax treatment of distributions you receive
tion 721, Tax Guide to U.S. Civil Service Retirement
from pension and annuity plans and also shows you how to
Benefits. Publication 721 covers the tax treatment of
report the income on your federal income tax return. How
federal retirement benefits, primarily those paid
these distributions are taxed depends on whether they are
under the Civil Service Retirement System (CSRS)
periodic payments (amounts received as an annuity) that
or the Federal Employees’ Retirement System
are paid at regular intervals over several years or nonperi-
(FERS).
odic payments (amounts not received as an annuity).
•
Social security and equivalent tier 1 railroad re-
What is covered in this publication? Publication 575
tirement benefits. For information about the tax
contains information that you need to understand the fol-
treatment of these benefits, see Publication 915, So-
lowing topics.
cial Security and Equivalent Railroad Retirement
•
Benefits. However, this publication (575) covers the
How to figure the tax-free part of periodic payments
tax treatment of nonequivalent tier 1 railroad retire-
under a pension or annuity plan, including using a
ment benefits, tier 2 benefits, vested dual benefits,
simple worksheet for payments under a qualified
and supplemental annuity benefits paid by the U.S.
plan.
Railroad Retirement Board.
•
How to figure the tax-free part of nonperiodic pay-
•
Tax-sheltered annuity plans (403(b) plans). If you
ments from qualified and nonqualified plans, and
work for a public school or certain tax-exempt orga-
how to use the optional methods to figure the tax on
nizations, you may be eligible to participate in a
lump-sum distributions from pension, stock bonus,
403(b) retirement plan offered by your employer. Al-
and profit-sharing plans.
though this publication covers the treatment of bene-
•
How to roll over certain distributions from a retire-
fits under 403(b) plans, it does not cover other tax
ment plan into another retirement plan or IRA.
provisions that apply to these plans. For more infor-
•
mation on 403(b) plans, see Publication 571,
How to report disability payments, and how benefi-
Tax-Sheltered Annuity Plans (403(b) Plans).
ciaries and survivors of employees and retirees must
report benefits paid to them.
•
Comments and suggestions. We welcome your com-
When additional taxes on certain distributions may
ments about this publication and your suggestions for
apply (including the tax on early distributions and the
tax on excess accumulation).
future editions.
Page 2
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