Tax Information

Taxability
Generally, retirement benefits are taxable. However, in some cases, all or a portion of the benefit may be excludable from gross income for federal and/or state income taxes. You will need to talk to your accountant or other tax consultant on this subject; the SBCERA staff cannot give you tax advice.
 
You should also check with your tax advisor to see if you need to adjust your withholding annually. You may change your withholding at any time. Contact the SBCERA staff for the combined federal/state tax withholding form. You can also print this form from SBCERA's website.
 
The 1099-Rs are sent annually, no later than January 31st of each year. If you do not receive yours within a reasonable amount of time after that date, contact the SBCERA staff. The staff will provide you with a duplicate form.
 
Also contact the SBCERA staff if your 1099-R seems to be in error. The staff can work with you to resolve the matter and have a new 1099-R issued, if necessary.