Audience: Participant
Product: Defined Benefit
Contacts: This only applies to participants who received pension benefits either under the age of 59½ or the result of an EDRO during the 2017, 2018 and 2019 calendar years.
Date Sent: 4/5/2021 – 4/8/2021
Format: Print Mail
Description: MERS has discovered that some IRS 1099-R forms issued for prior tax years included incorrect distribution codes The corrected forms are being mailed to participants over the next few days, beginning with the corrected forms from 2017 being mailed Monday, 4/5. Corrected 2018 forms will be mailed Tuesday, 4/6, and corrected 2019 forms will be mailed Thursday, 4/8.
We believe that no action is required by the participant as the taxability of the amounts reported is not impacted by the code change.
Click to read a copy of the letter that was sent to participants who will receive the corrected 1099-R’s.