By January 29, all 1099-R tax statements and Benefit Verification forms will be mailed to our more than 68,000 benefit recipients.
Accordingly, if you received a benefit payment from the MTRS in calendar year 2018, then you should receive your 1099-R tax statement and your Benefit Verification form soon. If you do not receive your tax …
Author: Leslie Lovett
Benefit recipients: Your federal tax withholding may change with your January payment
The Internal Revenue Service updated the federal tax withholding tables for 2019. If you have federal taxes withheld from your monthly benefit:
- based on the IRS tax tables (i.e., your marital status and number of exemptions claimed), beginning with your January payment, you may see a change in your net benefit amount because your tax …
Read more Benefit recipients: Your federal tax withholding may change with your January payment
Note the 2019 pensionable earnings limits for employees with membership dates after 12/31/1995
As you know, there are federal and state limits on the amount of pensionable earnings ("regular compensation") that can be used in computing benefits for active members of public retirement systems with effective membership dates after 12/31/1995.
What this means for employers
For any members with effective membership dates after 12/31/1995 or 1/1/2011, do not take MTRS …
Three annual reminders regarding MTRS retiree insurance processing
1) Group insurance rate changes for January: Beat the rush! Please send your new senior rates to us ASAP so everyone's changes can be processed on time
If you have already submitted your group insurance rate changes for January, thank you; if not, at your earliest convenience, please complete our group rate premium rate change form …
Read more Three annual reminders regarding MTRS retiree insurance processing