NYSLRS Tax Overview

Tax season is ramping up, so it’s a good time to talk about the tax information related to your NYSLRS pension benefit.

1099-Rs

NYSLRS retirees and beneficiaries who receive a taxable benefit from NYSLRS are sent a 1099-R form each year. Certain NYSLRS members may also receive a 1099-R tax form if, for example, you borrow a taxable NYSLRS loan, default on a NYSLRS loan, or if you end your membership and withdraw your contributions. The 1099-R is a statement that shows:

  • The total benefit paid to you in a calendar year.
  • The taxable amount of your benefit.
  • The amount of taxes withheld from your benefit.

We mail out all 1099-R forms — more than 500,000 — by January 31, so if you haven’t already received your form, be sure to check your mail over the next few days.

If you lose your 1099-R, you can request a reprint from us starting the second week of February. Once reprints are available, we’ll process requests each night and mail them out the next day. This year, reprints will be available for calendar years 2013, 2014, and 2015.

1099-R Interactive Tutorial

1099-r tax form tutorial screenshot

Understanding your 1099-R Tutorial

We feature an interactive tutorial about the 1099-R form on our website. It walks you through a sample 1099-R, and offers a short explanation of specific boxes on the form.

Changing Your Federal Tax Withholdings

Your NYSLRS pension benefit is subject to federal taxes. You can change your federal tax withholding status at any time by sending us a W-4P form. (A handy tutorial about the W-4P form that walks you through the steps on filling it out is available on our website.)

W4-P Tax form tutorial screenshot

Understanding your W-4P Form Tutorial

We also offer a federal tax withholding calculator on our website to help you estimate how much should be withheld.

If you have other tax-related questions about your benefit, please visit our Tax FAQs.

6 thoughts on “NYSLRS Tax Overview

    1. NYSLRS Post author

      While a New York State service retirement benefit is federally taxable, it is not taxed by New York State, and we cannot withhold income tax from other states from your benefit. Please check with the North Carolina Department of Revenue (http://www.dornc.com) to make arrangements for paying state income tax.

      Reply
  1. Irvin D. Fritzhand

    I rarely receive my retiree Annual Financial Statement without having to make phone calls to NYSLRS, where I must wait on phone for 45 minutes to get through, if then. Does anyone know how I can get the amount to be deducted on my Federal tax regarding my Total Health insurance Premiums other than via the ever delayed Annual Statement?

    Reply
    1. NYSLRS

      We apologize for the trouble you have been having. Unfortunately, the NYSLRS Social Media team does not have access to your account information. Please email our customer service representatives using our secure contact form (http://www.emailNYSLRS.com). They can let you know how much your health insurance premium was for 2016. You should also let them know that you have trouble receiving your retiree statement every year, and be sure to provide them with your current address and a good daytime phone number in case they need to call you. Please allow 5 – 7 business days for a response.

      Reply
      1. Dr. Irvin D. Fritzhand

        Thank you for your help, but upon sending my problem to the address you supplied it failed to get sent. I then tried another way to get my email through and and it may have worked but will wait a few days to receive a reply from NYSLRS, but am not optimistic in view of past failures. May need to send my tax return w/o the info as to my Total Health Insurance Premiums. My tax accountant will not be happy, but do not know what else to do. Perhaps the Controller’s Office will reply to my email to him. Again, thank you. Your office is the only one to have responded to me. Dr. Irvin D. Fritzhand

        Reply
        1. NYSLRS

          We apologize for the trouble. Here’s a tip that may help when filling out the secure email form (http://www.emailNYSLRS.com):

          Be sure to fill out all of the form fields before clicking “Submit”. If there are any fields you aren’t sure of, you can enter placeholders instead. For example, if you don’t know your registration number, you can enter 12345678.

          If you want to try calling our Call Center again, we recommend calling first thing in the morning. Our representatives start taking calls at 7:30 am. The toll-free number is 1-866-805-0990.

          Reply

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