Your contributions are currently deducted from your pay after taxes. The City does not report the refund of your pension contributions as taxable income to you. If you contributed to the City Employees' Pension Fund for at least five years, you are eligible for interest on your contributions. Interest paid to you on a refund is generally taxable, but may be rolled over to a pre-tax investment vehicle. Please consult your tax advisor.

Your monthly pension benefit is subject to Federal Income Taxes only. Public retirement pension benefits are currently not subject to State of Michigan or City of Detroit income tax.

The general rule is that contributions (other than union dues) withheld from an employee's wages or paid to the employer by a participant must be sent to the plan on the earliest date these contributions can reasonably be separated from the employer's general assets. This means that if you know how much should be sent to the plan three days after the pay date and it takes you another day to prepare the check, you must submit employee contributions four days after the pay date.

No, contributions to employees' SEP-IRAs are not included in their gross income, unless they are excess contributions.

As a general rule, the same portion of your pension is taxable for Arizona purposes as is taxable for federal purposes. However, there is a special subtraction, not to exceed a total of $2,500, for pensions from the State of Arizona and its political subdivisions or from U.S. government service, including the U.S. military.

No. The employer sends his contribution as well as the employee's contribution directly to the Custodian.

You may not withdraw pension contributions if you are vested. However, if you are not vested and have Employee Contributions (including UV & HP plus any interest accrued) in the Pension Plan, you may withdraw these contributions plus interest if you leave the Industry for a minimum of three months or if you have a Break in Service. The withdrawal requires submission of a completed Withdrawal form to the Plan Office. Under certain circumstances you may withdraw UV & HP even if you are vested.

Your pension contributions are calculated as a percentage of your regular earnings and deducted directly from your pay. Your OPTrust pension is integrated with the Canada Pension Plan (CPP). This means that you pay lower contributions to OPTrust for the part of your earnings that is also covered by CPP. The lower contribution rate applies to earnings below Year's Maximum Pensionable Earnings (YMPE). For 2005 the YMPE is $41,100.

Yes. Your employer will keep track of your contributions and report them on your T4 slip as contributions to a registered pension plan. Your T4 will also show a "pension adjustment" amount. The Canada Revenue Agency (CRA) uses the pension adjustment to calculate the amount of RRSP contribution room you will have in the following year. The CRA will notify you of your RRSP room for the following year on your annual Notice of Assessment.

Only the interest received with your FICA refund is taxable. You will receive a 1099-int form. The City of New York will report the interest amount to the IRS. This interest is taxable in the year received. No amended income tax returns for past years are required.

A member may make extra contributions by waiving the ITHP (Increased-Take-Home-Pay), currently at 5%, tax deferred. This form is available from the Police Pension website or you can click here to access it.

You should receive your refund three to four weeks after CalSTRS receives your completed refund application. Sometimes employers report additional contributions that are received after your refund payment has been paid to you. If this is the case, we will send a second payment within four months.

Box 5 represents the non-taxable portion of your 2007 distributions. The amount reflected in Box 5 is the difference between Box 1 and Box 2a or the total excludable amount using the Simplified Method for the year. Box 5 is blank for members who do not have an excludable amount. Simplified Method:

Contributions for any taxable year can be made in one or more payments, at any time prior to the deadline, without extensions, for filing your federal income tax return for that year, but not before the beginning of that year. For calendar year taxpayers, this deadline for contributions is generally April 15 following the year for which the contributions are made.

The table below outlines the various employee and employer paid benefits for eligible employees. For some benefits, the employer paid portion of the premiums is a taxable benefit to the employee. Employer pays the following monthly amount on your behalf and the taxable benefit will show on your 1st pay advice of each month. Employer pays for 1st $80,000 of coverage equalling $12.80 per month. The employer paid portion is a taxable benefit to the employee.

Answer: To receive a refund, you must have stopped working for your IMRF employer. You cannot take a refund of your IMRF contributions if you have left your IMRF-qualified position but are still working for the same employer. For example, if you were working for a school district as a teacher's aide and participated in IMRF, then accepted a teacher's position and joined TRS, you cannot take a refund of your IMRF contributions. You must then complete IMRF Form 5.

If you wish to commence paying AVCs or contributions to the stakeholder pension plan, you need to complete an application form, available from your Human Resources Department.