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A portion of your pension benefit is subject to federal and state income tax.

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When your retirement benefit is calculated, SERS determines the amount that is taxable and the amount that is non-taxable. SERS sends you this information when your first pension payment is processed.

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SERS is required to withhold federal income tax from your monthly pension amount unless you elect in writing not to have any withholding.

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You need to file an Internal Revenue Service (IRS) Form W-4P with SERS to instruct us on whether we should withhold income taxes. If you do not file this form, SERS withholds as if you had filed married with three exemptions. You can change your withholding amounts at any time by requesting a new form from SERS or downloading it from the SERS website.

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Your SERS pension amount may be subject to state and/or local taxes. You should consult the appropriate tax department in the area in which you live to determine your obligations.

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For Ohio residents, your SERS pension amount is subject to Ohio state income taxes. However, SERS is not required to withhold amounts for state tax unless you return a form indicating the specific amount you wish to have withheld. This amount can be changed at any time by requesting a new form from SERS or downloading it from the SERS website.

You should consult your own tax advisor, the IRS, or state or local tax departments for advice on your specific tax questions. SERS cannot provide individual tax advice.

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By Jan. 31 of each year, SERS will send you the IRS 1099-R Tax Form for the previous calendar year. This provides the pension amounts you received for the year, the amount of taxes withheld, and other tax information. You also will receive a SERS Income Tax Information handout that explains the form, and provides other detailed federal and state tax information.

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Your 1099-R information will be available in your secure online account on our website the first week in January. You will need to log in to access your information.

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