Most IPERS benefits are subject to federal income taxes but are excluded from Iowa income taxes under certain conditions.
Making & changing your tax withholding
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.
Understanding the Form 1099-R
According to federal law, IPERS must mail a Form 1099‑R each year to anyone who received a payment 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. IPERS mails the form no later than January 31. It is possible that you may not receive the form until early February. The form is also available in My Account.
For more information about the Form 1099-R and how to read it, visit the informational page.
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.