1099Rs were mailed on January 20, 2023

Last Updated - Friday, January 20, 2023

Members or beneficiaries who received a taxable distribution from the Fund in 2022 were mailed a 1099R on January 20, 2023. If you have not received yours by February 20, 2023, please contact the Retirement Fund.

 

Of all of the questions the Fund receives about the 1099R, after "When are you sending 1099s?", the most common is, “What is in box 5?” The label  for box 5 is “Employee contributions/designated Roth contributions or insurance premiums.” This label can be confusing because it covers a few different things. What is represented by box 5 differs based on what  type of distribution you received. See below:

 

Type of Distribution What’s in Box 5? Why is it there?
Retirement or Survivor Annuity Previously taxed contributions that were distributed to you tax-free for the past year. The employee made contributions* that were taxed. These are distributed to the employee and/or his/her surviving spouse over the course of the member’s and spouse’s (if applicable) lifetimes.
Refund of Contributions – full or partial Previously taxed contributions that were distributed to you tax-free. The employee made contributions* that were taxed. The portion of the refund attributable to those contributions is not taxed again.
Ordinary Disability Deductions for health insurance, dental insurance, and flexible medical spending. These benefit plans are part of a Cafeteria Plan under Section 125 of the Internal Revenue Code and are tax-exempt.

 

* Previously taxed contributions include regular contributions made before 1982, most contributions to the expired Optional Plan (expired 12/31/2007), payments to establish service credit for a refunded period of service, a leave of absence, or military service if those payments were not made by a rollover, and payments made under the expired ERC plan (expired 12/31/2002). The gross distribution in box 1 minus box 5 is the taxable amount reported in box 2a.

If you have questions about your 1099R, contact the Retirement Fund office.

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