Taxes on Your Retirement Benefits - PSERs
Taxes on Your Retirement Benefits - PSERs
Taxes on Your Retirement Benefits - PSERs
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
please remember to keep your home<br />
address and name current with PSERS<br />
for the mailing of your Form 1099-R.<br />
Who Receives Form 1099-R<br />
The following PSERS payees will<br />
receive an IRS Form 1099-R:<br />
• Retirees receiving a m<strong>on</strong>thly benefit<br />
• Survivor annuitants receiving a<br />
m<strong>on</strong>thly survivor benefit<br />
• Refunded members who received a<br />
lump-sum distributi<strong>on</strong> for the year of<br />
payment<br />
• Alternate payees<br />
• Beneficiaries who received a death<br />
benefit payment for the year of<br />
payment<br />
• A deceased member’s estate for<br />
the filing of the deceased’s income<br />
tax return<br />
Reminder!<br />
PSERS receives many calls inquiring<br />
as to why there is a difference in the<br />
gross distributi<strong>on</strong> and the taxable<br />
amount <strong>on</strong> the Form 1099-R. There are<br />
two possible reas<strong>on</strong>s:<br />
• There was tax-free Pre-87 Investment<br />
in C<strong>on</strong>tract m<strong>on</strong>ey paid during<br />
23
Change language