Randy can retire now. He finally got the huge state tax cut on retirement benefits that has been the company's #1 legislative priority for years. At the Statehouse, it was nicknamed the "Hy-Vee bill."
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The kind of payout those guys will get, you are still talking about a huge amount of state tax. There is a one-time exclusion of capital gains taxes on stock from employee-owned companies, which is how the thing got nicknamed "the Hy-Vee tax bill."
You realize that's just state taxes, right? Federal tax will still be due, and the state tax cut only applies if a retired employee still lives in Iowa. Based on the number of relocated Iowans I see in Florida and Arizona, I don't think many stay here.
Amen. that was his number one goal all along