Form 1099Rs and January Benefit Notices hitting your mailbox
by OPERS | Jan 31, 2011 | Uncategorized
Each January, OPERS sends a Benefit Notice to those members who receive monthly benefits in January. We also mail a 1099-R to all members who received benefits in the previous calendar year, or any active members who took a distribution of their employee contributions after they left employment with a participating employer.
All 1099-Rs for the 2010 tax year have been mailed in advance of the January 31 IRS deadline. Please allow for normal delivery time of 10-15 days. If you have not received your 1099 by February 16, 2011, please contact OPERS. The process of replacing 1099s will not begin until after this point to allow the post office reasonable time to deliver a huge volume of mail that occurs at this time each year. We appreciate your patience.
Some members may receive (or expect to receive) more than one 1099 from OPERS. If you are a member who received multiple 1099s, it means you also received a distribution as a beneficiary of someone else’s account. You should be able to determine from the amounts which 1099 is for which distribution. If you are expecting an additional 1099, please give it time to get to you. The 1099s were not all mailed at the same time.
January Benefit Notice
– Changes in Tax Tables and Retiree Insurance Rates
As an OPERS retiree, you may have federal and state taxes withheld from your OPERS retirement benefits. The 2011 tax tables became effective in January and may impact your net benefit amount if you elected to use the tax tables. You may change your withholding preference at any time by completing a new Withholding Preference Certificate. Both the Withholding Preference Certificate and the new tax tables are available here
If you have OSEEGIB premiums deducted from your retirement benefit, OSEEGIB has adopted an increase in 2010 health insurance premium rates. For more information on the 2011 rate changes, visit the OSEEGIB website here. OPERS cannot answer questions related to 2011 rate changes or coverage. If you have specific questions about your coverage, please call Oklahoma State and Education Employees Group Insurance Board at 1-800-752-9475.