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Annual Statements are now available online. Members can access them when they sign into their online accounts.
For more information about Annual Statements and our most frequently asked questions, please visit our webpage.
Retirees: New IRS Withholding Rules FAQs
As a retiree, your monthly benefit payment is subject to income taxes. New IRS withholding rules make your withholding more accurately reflect your total income.
By Leah Golden
When you sign in to TCDRS.org to update the withholding for your benefit payment, the withholding screens will lead you through the new IRS withholding questions.
Here are answers to some of the common questions we get about the new IRS withholding rules.
Do I need to change my current withholding to reflect the new IRS rules?
You do not have to change your current withholding. Your current withholding amount will stay in place until you change it. The next time you change your withholding online, the website will guide you through the new form. You can also update your withholding by calling TCDRS Member Services at 800-823-7782.
How will I know how to update my withholding using the new IRS rules?
When you edit your withholding online, you’ll be walked through the process. You can also use the W-4P form available on the IRS website for guidance. It would also be a good idea to speak with your tax advisor about your personal tax situation.
Why are there so many questions to complete my withholding selections now?
There are many factors to consider when figuring out how much to withhold from your monthly payment. Filling in those values when updating your withholding online will help make your withholding election more accurate.
Why do you need to know about my spouse’s income or my other income?
The new IRS withholding calculation takes these income sources into account to help you determine a more accurate amount of withholding for your total income.
We do not share this information with the IRS. We only use the information to calculate your withholding on your monthly benefit from TCDRS.
Do I need to send you a paper withholding form if I make my updates online?
No. Filling out your withholding online is all you need to do.
What if I don’t want to update my withholding online?
You can update your withholding over the phone by calling TCDRS Member Services at 800-823-7782.
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