News

Retiree Tax Changes

January 12, 2018

Retiree Tax Changes

Retirees may be wondering about how the new tax law affects their monthly benefit.  Not much information is available at this time, but COAERS has a plan.  At the end of January, all retirees will be mailed a paper statement showing changes in their monthly benefits due to insurance rate changes.  Then, perhaps as early as the end of February, COAERS will send paper statements to any retiree with a tax withholding change.  After retirees see their new tax withholding, they are encouraged to consult their tax advisor and, if necessary, complete and submit a new W4-P to COAERS.

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