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.
The ability to withdraw or borrow funds from your IRA or 401(k) can be very useful if you need to do so. However, most tax and personal investment professionals advise against making any kind of withdrawal before retirement, as the entire purpose for such accounts is to earn interest and save money for later.