Tax Information

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Retirees

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Most IPERS benefits are subject to federal income taxes but are excluded from Iowa income taxes under certain conditions.

 

 

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Making and Changing Your Tax Withholding
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IPERS will withhold taxes from your retirement benefit per your direction. All retirees complete a Form W-4P as part of their retirement application but can change withholdings at any time. Download the Form W-4P or access the form via the IRS’ website. Please submit a new Form W-4P each time you need to adjust your federal income tax withholding.  

For information on withholdings and the Form W-4P, visit the informational page.

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Understanding the Form 1099-R

According to federal law, annually IPERS must mail a Form 1099-R to anyone who received a benefit during the previous calendar year. This form reports the income you received from IPERS and is necessary to complete your federal and state tax returns. 

For more information about the Form 1099-R and how to read it, visit the informational page.
 

A note about digital delivery of IPERS documents 

Beginning in early 2025, IPERS will default members’ document delivery preference to digital. At that time, IPERS will discontinue providing documents via the US Postal Service. IPERS will continue to mail a small number of documents, including the annual Form 1099-R, Income Verification Letters and paper checks. Digital delivery will not impact direct deposits.

 

IPERS staff is prohibited from providing tax advice. Contact the Internal Revenue Service (IRS) or your tax professional with questions about the taxability of your benefits and the completion of any tax-related forms.