Question

Up to 85% of _______ ________ benefits, in retirement, may be taxable for taxpayers with moderate to high taxable income.

Answer 1

Up to 85% of defined benefits benefits, in retirement, may be taxable for taxpayers with moderate to high taxable income.

Step-by-step explanation:

Up to 85% of defined benefits benefits, in retirement, may be taxable for taxpayers with moderate to high taxable income. Defined benefits plans, such as pensions, are retirement plans where the employer guarantees employees a specified benefit level upon retirement, usually based on factors such as length of service and average salary. When retirees receive income from these plans, a portion of it may be subject to taxes, depending on their taxable income.