> 1099-R"s Have Been Mailed

1099-R's Have Been Mailed

If you received a monthly retirement benefit from VRS in 2007 as a retiree or survivor, you received a form 1099-R to complete your 2007 federal and state income tax returns. If you did not receive a 1099-R, please contact VRS.

What does your 1099-R show?

Total amount of your monthly VRS benefit
Taxable amount of your benefit
Total amount of federal and state tax withheld from your benefit during the year
Amount of your benefit that is not taxable
Whether your benefit is a retirement benefit, disability benefit or survivor benefit
Total of health insurance premiums for the year. If you receive a health insurance credit reimbursement, this amount will reflect what you paid in premiums, less the amount of your health insurance credit. Your health insurance credit reimbursement is a non-taxable benefit and is not included on your 1099-R form.

Note: If you retired under the guaranteed benefit for work-related disability, your benefit is exempt from taxes and will not show on your 1099-R.

For More Information

To change your tax withholding, complete a Request for Income Tax Withholding (VRS-15).

If you live outside Virginia and have questions regarding your state tax withholding, contact your state’s taxation agency.

Posted: February 5, 2008