Makes the first one hundred thousand dollars of an individual's private pension non-taxable.

This bill amends the tax law to make the first one hundred thousand dollars of an individual's private pension non-taxable. This change applies to periodic payments attributable to personal services performed prior to retirement, arising from either an employer-employee relationship or self-employed individual and owner-employee retirement plans.

Makes the first one hundred thousand dollars of an individual's private pension non-taxable.

This bill amends the tax law to make the first one hundred thousand dollars of an individual's private pension non-taxable. This change applies to periodic payments attributable to personal services performed prior to retirement, arising from either an employer-employee relationship or self-employed individual and owner-employee retirement plans.