Webster Dictionary(3.00 / 1 vote)Rate this definition: Ballad(noun) a popular kind of narrative poem, adapted for recitation or singing; as, the ballad of Chevy Chase; esp., a sentimental or romantic poem in short stanzas.
If you make an early withdrawal from a qualified retirement plan, the amount is added to your gross income (unless you meet one of the early withdrawal exceptions). As part of your gross income, you will owe tax on the distribution at your normal effective tax rate.
DEFINITION of 'Early Withdrawal'. The removal of funds from a fixed-term investment before the maturity date, or the removal of funds from a tax-deferred investment account or retirement savings account, such as an IRA or 401(k) before a prescribed time.