Individual Account Retirement Plan – Taxes
Employer Contributions and investment earnings credited to your Individual Account are not considered to be taxable income until you receive the money. When you are paid money from your Individual Account, the money will be reported by the Plan to the appropriate federal, state and local agencies.
The Summary Plan Description includes a very general discussion concerning taxes. It is not intended to represent nor can it be relied upon as professional tax advice. Should you have any questions related to tax related issues, you should retain the services of a personal financial or tax professional. The Plan accepts no responsibility for your personal financial planning or tax liabilities associated with your Plan benefits.