How is the TAP Annuity Taxed? - How Does It Impact your Social Security and Medicare?

Here is how the Washington DRS TAP annuity will impact your retirement taxes including your Social Security and Medicare premiums.

More income means more taxes so it's important to consider how this new lifetime income will impact your other benefits. Remember once you elect the TAP annuity you can't cancel, reduce or skip payments.

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**Advisory Services offered through Intirety, LLC a registered investment adviser. Intirety LLC and Scenic Financial are not associated with the Washington State Department of Retirement in any way. Scenic Financial makes content available as a service to its clients and other visitors, to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action. 🕸️