tax

Taxes and Your NYSLRS Pension

Tax season is here again.

In late January, NYSLRS mailed tax information to retirees (and some members and beneficiaries) so they can file their taxes.

1099-Rs

NYSLRS pensions are not subject to New York State or local income taxes, but in most cases they are subject to federal taxes. In January, we mailed 1099-R tax forms to almost 500,000 retirees who receive taxable benefits. We also mailed 1099-Rs to beneficiaries who received taxable income from NYSLRS in 2019, members who have taken taxable NYSLRS loans or have defaulted on their loans, and those who ended their membership and withdrew their contributions in 2019.

tax info - 1099-R tutorial

A 1099-R 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.

If you didn’t get your 1099-R, you can request a reprint. This year, reprints will be available for calendar years 2017, 2018 and 2019. Your 1099-R will be mailed to the address we have on file for you. Sign in to Retirement Online to check or update your mailing address before requesting a reprint.

If you have questions about the information on the form, we feature an interactive 1099-R tutorial 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

If you need to make changes to your federal withholding, you can send us a W-4P form at any time. You can use this form to change your withholding status, increase or decrease the number of your exemptions, or request that an additional amount be withheld.

You can use our federal tax withholding calculator to see how these changes would affect your withholding.

Please note: If you change your withholding, it may take a few months before the changes are reflected in your pension payments. You can look up your current payment breakdown, including tax withholding, using Retirement Online.

19 thoughts on “Taxes and Your NYSLRS Pension

    1. NYSLRS

      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 Post author

      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 Post author

          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
  2. Darcy Williams

    My question is why is this the first out of 9yrs that I’ve received this form I’m still actively employed and this year was not my first taking a retirement loan not to mention the amounts on my form don’t make any sense to me

    Reply
    1. NYSLRS

      To get the account-specific information you need, please email our customer service representatives using our secure email form. One of our representatives will review your account and respond to your questions. Filling out the secure form allows us to safely contact you about your personal account information.

      Reply
    1. NYSLRS

      Unfortunately, the NYSLRS social media team doesn’t have access to your retirement account information.

      If you are asking about your 1099-R tax form, please email our customer service representatives using our secure email form. One of our representatives will review your account and respond to your questions. Filling out the secure form allows us to safely contact you about your personal account information.

      Otherwise, you can view a breakdown of your current monthly benefit payment anytime by signing into your Retirement Online account.

      Reply
  3. Rebecca j Spencer

    Box 12 has EXEMPT but we can’t put letters in the form to file. Then when I put zero in box 12, I’m being charged taxes on my state return

    Reply
    1. NYSLRS

      Your NYSLRS pension is exempt from New York State and local income taxes. For assistance in filing your taxes, please call the New York State Department of Taxation and Finance at 518-457-5181.

      Reply
    2. Todd Dalessandro

      I have the same issue when trying to do my taxes online- trying to get through to someone on the # in nys’s response is impossible!

      Reply
  4. Marisa LaTorre

    why haven’t I received my 1099-R yet? If they were mailed out by January 31st, I should have received it by now. Why can’t these be made available to view and print from the website? Using paper forms that must be printed and mailed via snail mail is an outdated system.
    Out of 9 statements that I need in order to file my taxes this year, this is the only form I have yet to receive and it is February 18th!

    Reply
    1. NYSLRS

      We’re sorry you did not receive your 1099-R.

      You can request a reprint of your 1099-R online. The reprint will be sent to the mailing address the Retirement System has on file for you.

      If you moved recently, you will need to update your address before ordering a reprint. Retirement Online is the fastest way to check and update your address with NYSLRS. Unless your new address is a PO box or International address, you can also email your address change using our secure contact form (http://www.emailNYSLRS.com). Complete all form fields and provide your old and new address. You can also use the secure email form to request that a reprint of your 1099-R be mailed to you.

      Reply
  5. Olivia McInnis

    It is now March 10 and never received 1099R and I have already went online and requested reprint on February 15 and still haven’t come in mail. My address is the same and haven’t moved in 15 years; Is there email address so I can contact because no one answers the phone!

    Reply
    1. NYSLRS

      We’re sorry you could not reach us. Your message is important to us and we have sent you an email in response.

      Reply
  6. Ca

    Since retiring from NYS three years ago I have not had to file a NYS tax return but this year no only do I have to file it says I owe NYS taxes. Why?

    Reply

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