Senator Introduces Bill to Protect Retirement Benefits from Taxation

News Release from Office of Sen David Ige, January 24, 2014

State Senator David Ige (16th senatorial district) has introduced SB 2982, a measure that proposes a constitutional amendment to exclude certain retirement benefits from income taxation. If passed, the question posed to voters and printed on ballots would be as follows: “Shall retirement benefits be excluded from state income taxation if the beneficiaries’ contributions were subject to state income taxation?”

“Over the last several years, we’ve seen how pensions have become the target of tax increases and means of increasing revenue,” Ige said. “This measure would assure that future legislatures do not consider taxing pensions, and help to protect the retiree’s in our communities and those living on a fixed income.”

LINK: SB2982 Text, Status