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IRS Form 1099-R
If you received a retirement benefit from VRS in 2008, you will receive a form 1099-R in mid January. Use this to complete your 2008 federal and state income tax returns. If you have not received a 1099-R by the end of January, you can print a copy from myVRS for Retirees beginning in early February.
What does your 1099-R show?
- The total amount of your monthly gross benefit.
- The taxable amount of your benefit. Your benefit is exempt from taxes if you retired under the guaranteed benefit formula for work-related disability.
- The total amount of federal and state tax withheld during the year.
- The amount of your benefit that is not taxable.
- The amount of health insurance premiums you paid in 2008 if VRS deducts these premiums from your benefit. If you are eligible for a health insurance credit, the amount shown on your 1099 is the difference between the total health insurance premium amount and health credit amount.
Note: If you receive a health insurance credit, the amount is not on your 1099-R form. The health insurance credit is a non-taxable benefit and is not included with the taxable income on your 1099-R form.
How to read your 1099-RWhat if you read your 1099-R and decide to change your tax withholding?
How to change your withholding? The easiest way is visit your myVRS for Retirees account. The income tax calculation tool in myVRS allows you to see the impact of any changes to your tax withholding amount and to submit your changes online.
You also can change your withholding by filing a new Request for Income Tax Withholding (VRS-15) 
61kb or by calling 1-888-VARETIR (1-888-827-3847).
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