Department of Employee Trust Funds
October 30, 2009 (updated)

New Tax Tables in Effect

The Wisconsin Department of Revenue has updated the state tax tables for the first time in more than nine years. This will result in a change to the amount of state income tax withheld from the benefit payments of some retired Wisconsin Retirement System (WRS) participants. Those affected by the tax table change received an Annuity Payment Statement from the Department of Employee Trust Funds. The change will first appear on the November 1, 2009 payment. If you didn’t receive an Annuity Payment Statement, the tax table change did not affect your benefit payment.

This is the third tax table change for WRS retirees this year. Federal tax tables changed in May and July as a result of the American Recovery and Reinvestment Act. As a result of these changes, some annuitants may also see a change in their federal tax withheld on the November 1st check. The tax table changes have a different impact on each retiree depending on exemptions and other factors. We recommend you consult with your tax advisor if you want to change your state or federal income tax withholding amounts. However, please note that we anticipate changes in federal tax tables again in 2010 because the additional federal withholding table is set to expire December 31, 2009.

Retirees: If you want to change your state or federal income tax withholding amounts, complete and mail to ETF a new Income Tax Withholding Election form (ET-4310). You may also contact ETF to request a paper copy. Use our Toll-Free Self-Service Line, 1-877-383-1888 or (608) 266-2323. Or send an e-mail through the “Contact ETF” section of our Internet site.