Q: Why is there a change to the pension amount in July?
A: Every July beginning the calendar year after your retirement, you receive a post retirement increase of 2.5% (for retirees with membership dates of before July 1, 2012) and 1.5% (for retirees with membership dates on or after July 1, 2012).
Q: How do I change my federal tax withholding?
A: You may download the W-4P Form from our website at http://ers.ehawaii.gov or contact our office and we will mail you the form.
Q: Does the ERS send any notice when there is a change to my pension?
A: Yes. The ERS sends a letter explaining the change to your pension prior to the effective date of change. In addition, a Statement of Retirement Allowances and Deductions is mailed out when there is a change to your net pension payment or for your first pension payment. If your net amount has changed but you did not receive a statement, please allow time for the postal service to deliver it before requesting a duplicate. Due to postal service changes, it may take longer to receive your statement than in the past. Please retain pay statements as a record of your current pension amount.
Q: When will I receive my tax reporting documents (1099R)?
A: If you received benefits from the ERS during the previous year, your Internal Revenue Service (IRS) Form 1099-R will be mailed to your home address by January 31. Reprint/duplicate Form 1099-R requests may be requested approximately 2 weeks later to allow time for mail delivery. If you have a professional tax advisor, accountant, and/or tax preparer, we suggest that you make this information available for their review.
For more information, please review
ERS Form 1099-R Sample:
Frequently Asked Questions:
Q: How is my retirement benefits classified for income tax reporting (i.e. IRA, pension or annuity)?
A: The ERS is a ‘government defined benefit pension plan’. All benefits paid by ERS and reported to you on Form 1099-R are ‘pension’ benefits. For terminated members this includes refund of contributions and for retirees this includes option refund payments and disability benefits.