New Tax Rate Changes and Your PSRS/PEERS Benefit
PSRS/PEERS will be implementing the 2011 tax withholding tables effective with the January 31, 2011 benefit payment. In most instances, tax withholding will only change slightly resulting in minimal changes in your net benefit payment.
Your annual PSRS/PEERS Benefit Statement will be mailed to you in mid-January. Your statement provides your gross monthly benefit amount, tax withholding amount, and net monthly payment amount, as well as other information regarding your PSRS/PEERS membership. You can also view this information online.
Additionally, you may change your withholding amount at any time by completing the PSRS or the PEERS Tax Withholding Authorization form, or by calling PSRS/PEERS at (800) 392-6848. Forms may also be faxed to PSRS/PEERS at (573) 634-7934. Changes in your benefit payment will be acknowledged by PSRS/PEERS.
For assistance in determining your tax withholding, consult the IRS, the Missouri Department of Revenue or a tax professional.