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.
Of course money you put in a retirement account should ideally stay there until you retire. But life happens. Divorce, job loss, illness, and the real estate crash, to say nothing of the soaring cost of college, have forced many Americans to withdraw funds from retirement accounts early.