Income Tax Withholding Information:
Every January the Pension Office updates the Federal and State tax withholding tables and those changes are reflected in your January pension check. For January of 2010, you may have noticed a larger difference than in prior years. The reason for this is twofold; first, there were the normal state and federal income tax table changes and secondly, there was an adjustment of the federal income tax tables for changes that were made in 2009 to implement The American Recovery and Reinvestment Act of 2009 (the federal stimulus bill).

If you recall, in April 2009, new tax withholding tables were put into place as a result of the federal stimulus bill. These changes increased your monthly net pay for the remainder of 2009. The 2010 tax tables do not reflect the lower withholding that was part of the stimulus bill thus, there is an increase in your tax withholding for 2010.

You can change your tax withholdings by filing a Tax Withholding Election (TWE) form which is available on our website at
http://delawarepensions.com/information/forms/retirees.shtml

YOUR TAX FORM 1099R WILL BE MAILED NO LATER THAN JANUARY 31, 2010

Tax Withholding Election Form:
In the event that you wish to change your current tax withholding, you may print from our website the Tax Withholding Election (TWE) form for submission to our office.

* Only submit this form if you wish to make a change.