Removing the Tax on Military Pensions Could Help Recruit More Workers

The Governor’s FY23 Budget includes a $3.1 million expenditure to remove the tax on military pensions for retirees and survivor benefits for military families, an effort the Vermont Chamber has supported. Vermont is one of only three states (CA, VT, VA) and Washington, D.C., that offers no pension tax relief to military retirees. The retirement age of military personal tends to be between 38-42. Removing that tax on military pensions could be another tool used to recruit and retain a diverse workforce population to address the severe worker shortages for all industries. To learn more, please contact Chris Carrigan.