If you are a retired Wisconsin Retirement System member, please note the following important notices.
Required Minimum Distributions
As you prepare your taxes this year, note that some commercial tax filing software may ask if your Wisconsin Retirement System annuity payment meets the Required Minimum Distribution requirement. Any WRS annuity payment meets the Required Minimum Distribution rule, which previously required the member to receive payments from the WRS no later than April 1 of the year following the calendar year the member reached age 70½ or by December 31 in the year of retirement (if employed beyond age 70½). The federal SECURE Act that passed in late 2019 increased the age to 72 for people who turn 70½ in 2020 or later. Now, members must take their first WRS payment by at least April 1 of the year after they reach 72 if they are no longer working.
2020 Tax Tables
Due to comprehensive changes being made to the Federal tax tables and 2020 W4-P withholding form, the Wisconsin Retirement System will continue using the current 2019 tax tables and W4-P until complete and final information is provided by the Internal Revenue Service for 2020.
The Department of Employee Trust Funds will mail 2019 1099-R forms by January 31. W-2 tax forms for taxable retiree wellness incentives paid in 2019 will also be mailed by January 31.