IRS Form 1099-R’s for 2016 will be mailed on Tuesday, January 17, 2017 and are now available for viewing online at http://www.LSERS.net. After logging into the secure online portal:
1. Under the Member Access bar, select View Personal Information.
2. On the next screen choose 1099-R
3. Choose 2016 to see your 1099-R (from here you can also print the form).
For tax information regarding your Form 1099-R, please contact your tax advisor.
Contact LSERS if you have not receive your 1099-R by Wednesday, February 1st. You can email firstname.lastname@example.org or call 225.925.6484 or toll free (outside the Baton Rouge calling area) at 1.800.256.3718. LSERS will send a duplicate copy to you.
Reminder about your tax form:
· LSERS retirement benefits are not subject to Louisiana state income taxes for residents filing a Louisiana income tax return.
· For security purposes, we have truncated your social security number to only show the last 4 digits.
· Box 1 Gross distribution: Total benefit amount you received for the calendar year 2016
· Box 2a Taxable amount: Taxable amount to be reported for Federal income tax purposes. Refer to Box 5 for explanation.
· Box 4 Federal incomes tax withheld: Federal income taxes withheld from your benefit payments in 2016.
· Box 5 Employee contributions: Tax-free portion of retirement benefits you received during the calendar year. This is NOT the amount of your insurance premium. It represents unsheltered contributions withheld from your salary before July 1, 1994 that have already been taxed. This amount is the difference between the Gross distribution in Box 1 and the Taxable amount in Box 2a. If Box 5 is blank, your total gross distribution (benefits received) is taxable.
Disability retirees will not have tax-free benefits reflected in Box 5 until they reach their normal retirement eligibility age.