The Department of Employee Trust Funds will mail 2020 1099-R forms by January 31. W-2 tax forms for taxable retiree wellness incentives paid in 2020 will also be mailed by January 31.
Federal Tax Table Adjustment
The federal tax tables have changed for 2021. This means some WRS retirees may see an adjustment to their federal tax deductions beginning with the February 1 payment. Any member whose monthly payment has changed as a result of the new tax table will receive an annuity mailing statement from ETF reflecting the new withholding amount. To adjust your federal or state tax withholding, submit an Income Tax Withholding Election Change (ET-4310) form. Before making any changes, you may want to use ETF’s online tax withholding calculator to help you determine the impact of income tax withholding elections on your monthly payments. Find it on our website at http://etf.wi.gov/calculator.htm. Note: The State of Wisconsin tax withholding tables did not change for 2021.
For Additional Information and Resources visit Taxes and My WRS Benefits.