Department of Employee Trust Funds
January 5, 2010

New Tax Tables in Effect

The Internal Revenue Service (IRS) has issued new tax tables, which will result in a change to the amount of Federal income tax withheld from the benefit payments of many 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 first appeared on the January 1, 2010 payment. If you did not receive an Annuity Payment Statement, the tax table change did not affect your benefit payment.

This is the fourth tax table change for WRS retirees in the last year. Federal tax tables changed in May, July, and October as a result of the American Recovery and Reinvestment Act. These 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 determine the appropriate state or federal income tax withholding amounts.

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.