retirement oz


Does anyone know if contributons to a KAPERS retirement plan qualify for the retirement savings credit?

KAPERS= Kansas state employee retirement plan. I know it can be used on the state form but I'm unsure if it can be used on the federal form.

Public Comments

  1. yes it does qualify Eligible contributions. These include: Contributions to a traditional or Roth IRA, and Salary reduction contributions (elective deferrals) to: A 401(k) plan (including a SIMPLE 401(k)), A section 403(b) annuity, An eligible deferred compensation plan of a state or local government (a 457 plan), A SIMPLE IRA plan, or A salary reduction SEP. http://www.irs.gov/publications/p571/ch10.html
  2. KPERS qualifies for the retirement savings credit only if you voluntarily contribute additional money after taxes. KPERS contributions that are taken out pre-tax doesn't qualify. KPERS isn't counted into your income for federal taxes but it is for state.
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