Raffensperger Announces Plan to Eliminate State Tax on All Retirement Benefits

(Johns Creek, GA) — Today, Christian conservative businessman Brad Raffensperger announced his plan to eliminate Georgia’s state income tax on all retirement benefits, ensuring seniors can keep more of the money they earned over a lifetime of hard work.

“For decades, Georgia retirees have been punished for doing the right thing,” said Raffensperger. “They worked hard, saved responsibly, paid their taxes, and then the government comes back for another bite when they are on fixed income. That ends when I’m Governor.”

Currently, Georgia taxes retirement distributions at the state income tax rate. The state offers a retirement income exclusion of $35,000 for ages 62–64 and $65,000 for those 65 and older.

Under Raffensperger’s plan, Georgia would eliminate state taxation on all distributions from 401(k)s, traditional IRAs, pensions, annuities, and Required Minimum Distributions (RMDs), completing the job of making Georgia fully retirement-income tax free. Georgia does not tax Social Security.

“With stubborn inflation, rising healthcare costs, and increasing property taxes, Georgia seniors are in the middle of an affordability crisis,” Raffensperger said. “By eliminating taxes on retirement benefits, we can help seniors keep more of what they earned so they can afford to thrive now and for years to come.”

At Georgia’s current state income tax rate, a retiree withdrawing $100,000 annually would save roughly $5,000 per year. Over a 20-year retirement, that equates to more than $100,000 in retained income.

Raffensperger’s retirement tax elimination plan is part of his broader plan to make Georgia affordable and safe. Since launching his campaign, he has announced plans to:

• Cap property tax growth
• Eliminate non-education, non-public safety property taxes for seniors
• Make Georgia the #1 state for reshoring and job creation
• Double school safety grants to $100,000 per school, including private schools
• Fully fund and staff law enforcement statewide

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