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Suburban 
Member since Jan 9, 2018


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Re: “Arkansas tax break set for retired military

The National Guard men & women who have served two and three rotations to the Middle East are the ones who are being forgotten. They left their major employment and family's to go in harm's way beside their active duty comrades. They work for 40 years in Arkansas
Building it's economy, being called out in the middle of the night,leaving their families alone to go to the rescue of victems of Tornados and floods. When they reach 60 years of age they then start receiving a military retirement. The average Guard or reserve Sgt. E-7 earns a retirement of around
$ 9,000. Their active duty counter part will receives a retirement of $ 27,500 which begins on retirement at around age 40. Since the reservists primary retirement will be his civilian 401k or Pension from which he cannot deduct the $ 6,000 every other civilian retiree gets if he takes the military retirement exemption he realizes an additional exemption of $ 3,000 at age 60 vs the $ 21,500 of his counter part from active duty at age 40. A $ 3,000 deduction at a tax rate of 5 percent is a tax break of $ 150 per year or $ 12.50 per month. Thank your reservists for their service in combat,
The legislature didn't.

Posted by Suburban on 01/09/2018 at 11:00 AM

 

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