Friday, December 14, 2018

Retiree

2018 Tax Update - New tax law may impact your 2018 taxes. Click to view update.


You may be retired, but MERS is still working for you. Click here to access your myMERS account.

Through your online account, you can:

  • Receive pension verification letters (for those retirees who receive a Straight Life benefit)
  • Make federal and state tax withholding changes
  • Make Electronic Funds Transfer (EFT) changes for your pension direct deposits

Announcements

2018 Tax Updates

January 30, 2018
MERS is on track to begin using the updated withholding tables for February pension payments. Please contact the Service Center at 800.737.MERS (6377) with any questions.

January 12, 2018
The IRS has released updated 2018 Withholding Tables. Click here for more information. Note that these tables will not be used for January 2018 pension payments.

January 8, 2018
New tax law may impact your 2018 taxes

The federal government signed a new tax reform bill into law on December 22, 2017. Under the new tax bill, changes were made to tax rates and brackets of taxable income to which the rates apply.

The Internal Revenue Service (IRS) is working to develop withholding guidance and anticipates issuing more details this month. Once this guidance is released, you may want to consider making changes to your withholdings to align with the changes to the tax law. As a reminder, you can change your withholdings online through your myMERS account at any time.

Note that as a result of this new tax law, you may end up paying too much or too little in taxes for 2018. If this occurs, you will be notified via a refund or bill from the IRS.

MERS will provide updates on our website as more information from the IRS becomes available. If you utilize a tax or financial consultant, it is recommended that you contact them for more detailed information and direction.

Resources

     

 

 

Forms

Retirement Readiness

 Communications Corner

View the recent communications MERS has sent to participants. Click to view list.

Account Access

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Retiree Pay Dates
(Defined Benefit, DB portion of Hybrid)

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Disclaimer
The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).