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Tax Information
W-4P Federal Income Tax Withholding
If you need to change the amount of your federal tax withholding, you must submit a new W-4P Form to SERS. The new W-4P may be submitted at any time throughout the year.
You should contact a qualified tax advisor or an IRS representative at 800-829-1040 with questions about your taxes, including withholdings.
You can access a copy of the W-4P Form, along with our Federal Tax Withholding Calculator on your Member Services account.
IRS Form 1099R Tax Information
Each year, the Comptroller’s office is required to send you a 1099-R form showing the total annuity amount you received during the past year, as well as any taxes withheld. To understand how the 1099-R works, see the below slides from the UYB Workshop.
Taxation of Your Retirement Annuity
Illinois law exempts all SERS benefits from state income tax. However, benefits are subject to federal income tax. If your federal tax withholding information is not on file with SERS, taxes are withheld using the rate for a married person.
Each year, the Comptroller’s office is required to send you a 1099-R form showing the total annuity amount you received during the past year, as well as any taxes withheld.