Retirees can use our new withholding calculator
for help with their W-4P
Tax time is here once again and you may be considering whether or not you want to change your federal withholding for your pension. This year, we’ve developed a tool to assist you. It’s a convenient calculator on our website to help you determine your withholding tax.
If you determine you’d like to make updates, change your withholding by completing and sending us a new Form W-4P. Before you make a change, however, you might wish to talk with your tax advisor or the IRS.
You can also use the calculator to run different withholding scenarios to help you meet your retirement goals. It's important to plan ahead when thinking about how your federal tax withholding will affect your net monthly benefit.
Note: The calculator uses Microsoft Excel Version 97-2003 or later. If you don't have Excel, please call us and we'll run the calculations for you.