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Not necessarily. Having a
401(k) will not reduce your Social Security benefits – but distributions from your
401(k) taken during retirement may make your Social Security benefits subject to federal
income tax, especially if you have significant other income.
If you are concerned that retirement savings distributions might affect your Social
Security benefits (or the taxation of those benefits) you should consult with your tax
advisor, attorney, or CPA regarding your own unique situation. |
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