The federal tax tables have changed for 2020. This means Wisconsin Retirement System retirees may see an adjustment to their federal tax withholding deductions beginning with the August 1, 2020 payment. Any member whose monthly payment has changed as a result of the new tax table will receive an Annuity Payment Statement from the Department of Employee Trust Funds reflecting the new withholding amount.
Retirees may adjust their federal or state tax withholding by submitting 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 effect of income tax withholding elections on your monthly annuity payments.