Taxes

Changing Your Tax Withholding

The IRS released a revised Form W-4P that includes changes to the federal tax withholding elections available and the calculation CalPERS performs to determine the amount to be withheld. As your tax situation can change from year to year, you may want to adjust the federal or California state withholding amounts deducted from your monthly benefit payment.

Understanding Your 1099-R Tax Form

The 1099-R tax form reports the amount of income you received during the tax year. The form contains boxes you will need to complete your tax returns. You can access yours on myCalPERS.