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Tax withholding table updated and reflected in April 1, 2020 Benefit Payments

by sh | Mar 31, 2020

Summary: Revisions to federal and state tax withholding tables impact select states and reflect in April 1, 2020 benefit payments.

Have you noticed a change in your benefit payment? The federal and state tax withholding tables are adjusted each year with adjustments generally reflected in the April 1st benefit payments. The changes in the tax table impacts tax withholdings in several states and may result in a change (increase or decrease) to the net benefit payment received from the Fund. 

We encourage participants to contact their tax or legal advisor to determine individual income tax withholding requirements.

Updating your Withholdings
- Participants can update their federal and state withholding elections at any time, using the tax forms available on this website and following instructions in the respective forms.
  • State tax withholding is MANDATORY for the following states when there is federal tax election: Arkansas, Connecticut, Delaware, Iowa, Kansas, Maine, Maryland, Massachusetts, Mississippi, Nebraska, North Carolina, Oklahoma, Vermont, Virginia, and Washington DC 
  • State tax withholding is MANDATORY  when there is federal tax election unless the payee elects out for the following states: California, Connecticut, Georgia, Michigan, and Oregon

For Participants who elect a withholding option that is not supported by the mandatory withholding requirements of the state in which he or she resides, the Fund will use the mandatory withholding requirement for calculating the required state income tax deduction.

The following is a list of cities and states where monthly pension annuities are impacted by the adjusted tax withholding table:

 

California

Colorado

Georgia

Illinois

Iowa

Maine

Maryland

Massachusetts

Michigan

Minnesota

Missouri

Montana

New Mexico

New York

Yonkers, New York

North Carolina

North Dakota

Oregon

Pennsylvania

Rhode Island

South Carolina

Vermont

Note that the adjustments to the federal tax withholdings may also impact your individual withholdings.  

If you would like to make a change to your current federal and state withholdings elections, visit the Fund’s website at www.aftraretirement.org (“Form”| “Retirement Form”) and select the state or federal tax withholding form to complete, or simply CLICK HERE  to  complete and return the forms.  For specific information on the revised tax tables affecting your state, consult with your tax advisor or refer to your states Department of Taxation website.

To request a tax form to be mailed to you and for questions about your April 1st benefit payments, contact us online by CLICKING HERE  to send a secure online message to the Participant Services staff.

 

 

 

 

 

 

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