To the Editor:
Mr. Rick Kramer (Letters to the Editor on Feb. 5), I need your advice. Apparently, you know the income tax law better than my accountant does.
I will be retiring in 2015. As with all K-State faculty, I have a defined contribution plan where both the state and I contribute each month, and my required contribution is de-ducted before tax. (This is not a defined benefit plan.)
As I understand it, my with-drawals from my 403(b) will be taxed as ordinary income. If you know of a legal way to avoid paying income tax on that, please advise me. Your help is appreciated.