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.
âBut you have to recognize that in the overwhelming majority of cases, the early withdrawal penalty can jeopardize the ability to keep your initial investment intact.â Overall, 89% of the financial institutions Bankrate surveyed have policies that allow them to dig into principal to satisfy a penalty.