Important Message for Retirees Claiming 1 or More Tax Exemptions
WRS’ 2016 tax tables
did not thoroughly update, which resulted in members who claimed 1 or more tax
exemptions having too much tax withheld from the January 2016 pension payment.
Retirees claiming zero exemptions are not affected by this issue, although tax tables did change and your withholding may have correctly changed as a result.
WRS is working with our software programmers to implement a fix that will result in a supplementary payment mid-February to correct the tax withholding for the January distribution. Tables have been updated and month-end payments for February will be correct.
WRS apologizes for the inconvenience, and we appreciate your patience as we work to correct the January distributions.