Taxes and My Benefits

The following resources provide information about taxes that affect your retirement and health benefits. Information includes what types of forms you will receive and general information about how it applies to your benefits. If you need more specific tax information, contact the IRS or your professional tax advisor.

Effective December 1, 2022, WRS annuitants will need to use two separate forms for their federal and Wisconsin tax withholdings. Find out more about this Internal Revenue Service change.

Most retirement payments are subject to federal and state taxes. Have ETF withhold the right amount of money from your monthly benefit payment. Note: Federal withholding tables are subject to changes by the Internal Revenue Service. Consult with your professional tax advisor or visit irs.gov for the latest information.

Taxes for disbursements (payments) made from your retirement account. You will receive an income tax statement from ETF for each year that you receive a distribution of funds from your WRS account.

Income received from the WebMD program or the Wellness Incentive from your health plan provider is taxable. You will receive a W-2 statement from ETF if you are covered under the state group health insurance program and you and/or your dependents received a wellness incentive from your health plan provider or from WebMD.

The 1095 form provides documentation of your individual health insurance information. This statement is sent to you annually by your insurance provider.