Periodic benefit payments are subject to federal income tax withholding if the taxable portion of the total annual payments equals or exceeds $25,200.00 ($2,100.00 per month). You can choose to have no withholding. You can also choose to have a withholding different than the default standard withholding rate schedule for Single or Married, filing separately. You don’t have to make a change if you do not want to. You're not required to make a change if you are happy with your election.

If you do want to change or revoke an election, you can log on to your secure online account. You can also complete Form W-4P. This form is available at your local IRS office, library, or on the IRS website. Return the form to:

Indiana Public Retirement System
One North Capitol, Suite 001
Indianapolis, IN 46204

You can revoke your election at any time. Your withholding choice will remain in effect until you change it. If you make a change to your withholdings, the changes you make will take effect on future benefit payments.

If you choose not to have taxes withheld, or if you don't have enough federal income tax withheld from your payments, you may be responsible for payments of estimated tax. You may also incur penalties under the estimated tax rules if your withholding and estimated tax payments aren't enough to meet the requirements.

The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), requires us to annually notify you that you may change or revoke your federal tax withholding amount. State Street Retiree Services is providing this notice on behalf of INPRS. If you have questions or concerns, you can speak with an INPRS Member Advocate Monday through Friday, 8 a.m. to 8 p.m. Eastern Time at (844) GO-INPRS or (844) 464-6777.