Last Updated: 2010-01-14

Annual 1099-R Tax Form

Each year a 1099-R tax form will be distributed by January 31 as required by the Internal Revenue Service for the following types of benefit disbursements.

  • Service and Early Service Retirement pensions
  • Ordinary and Work Related disability pensions
  • Survivor Benefit disbursements
  • DROP Lump Sum disbursements paid to the member
  • Direct Rollovers
  • Refunds of member contributions (pre and post tax) with interest
  • Death Benefit payments

Should the need arise for a duplicate 1099-R, a written request must be submitted to the Richmond Retirement System (RRS). All requests will be processed within five to seven business days.

You may find out more information about the reporting of your pension benefit from the Internal Revenue Service.

Non-Taxable Pension

A non-taxable pension is not considered taxable income. Compensable disability retirement pensions are not subject to Federal and state taxes.

If you contributed after-tax (post tax) dollars to RRS for any of the programs below, part of your pension will not be taxable. This represents a return of the after-tax amount you paid. The city began pre-tax contributions on September 1, 2006.

  • Enhanced Defined Benefit
  • Directors' 2-for-1 Plan
  • Purchase of Prior Service

Taxable Pension

Pensions paid to an employee by her/his former employer count as the employee's income and are generally taxable. Your taxable pension amount is located in box 2a of your 1099-R tax form. You may choose not to have income tax withheld from your pension. To specify how taxes are to be withheld or to claim tax-exempt status, provide the RRS with a completed Form W-4P (PDF), Withholding Certificate for Pension or Annuity Payments and/or the Virginia State Tax Withholding Certificate.

Ordinary disability pensions are taxable.

Pre-Tax Healthcare Deductions

In January 2007, the Pension Protection Act of 2006 went into effect and included the Healthcare Enhancement for Local Public Safety (HELPS) Retirees Act. This act applies only to sworn police and fire retirees who meet either of the following two criteria.

  • Retired with an unreduced pension
  • Retired due to disability

The HELPS Act allows eligible retired public safety officers to pay for health insurance premiums, up to $3,000 per year, on a pre-tax basis from their qualified government retirement plan. The premiums must be paid directly from your pension fund to a healthcare insurance company.

In order to receive this benefit, the eligible retiree must complete this one-time election form, the Healthcare Enhancement for Local Public Safety (HELPS) Participation Authorization form, and return it to us at

Richmond Retirement System
900 E. Broad St., Room 400
Richmond, VA 23219 Map It

-->

Contact Information:

Richmond Retirement System
City of Richmond
730 E. Broad Street, Suite 900
Richmond, VA
23219 USA
Retirement
Phone: (804)646-5958
Fax: (804)646-5299

Toll-Free (Outside Central Virginia): (888)288-2781
Office Hours: By Appointment Only
Monday - Friday
8:00 a.m. - 5:00 p.m.
Walk-in Visits:
Monday - Friday
10:00 a.m. - 12:00 p.m.
and 1:00 p.m. - 3:00 p.m.

More Contact Information

This is a print version of the webpage. The navigation of the site has been removed through the print css. If you require a printout of the page as it looks in your browser, please use screen capture.