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Form 1099-R Provided to LACERS Members

Most LACERS Retired Members recently received their 2017 Form 1099-R.  The 1099-R is the form used to inform our Members about the payments they received in 2017 from the LACERS retirement fund and is used in preparing your income taxes.

Sometimes, however, the box labels found on LACERS’ 1099-R Form differ from those found on the standard IRS 1099-R form or those found in tax preparation software.  Because confusion most commonly centers around the topics of State Taxable Amount, Local Tax Withheld, Local Distribution, and/or Employee Contributions or Insurance Premiums, we offer the following clarification:

  1. The standard Form 1099-R created by the IRS and most of the tax software do not have a designated box to report State Taxable Amount.
  2. LACERS reports State Taxable Amount in Box 15 of LACERS Form 1099-R.
  3. Enter the amount from Box 15 of LACERS Form 1099-R (State Taxable Amount) into Box 14 of your tax software (commonly labelled “State Distribution”).
  4. LACERS Form 1099-R does not have any Local Tax Withheld or Local Distribution (boxes commonly found on the standard Form 1099-R created by the IRS).
  5. For most Members, Box 5 will be blank.  Although Box 5 on your LACERS Form 1099-R is labelled Employee Contributions or Insurance Premiums, the amount in that box, if any, does not refer to health insurance premiums.  Any amount in Box 5 represents the portion of your benefits for the tax year that are identified as tax free (non-taxable) based on post-tax contributions you made during your City employment.  Any amount in Box 5 is already excluded from the taxable amount reported in Box 2a.

Form 1099-R

NOTE:  LACERS does not provide tax advice.  Should you have questions regarding filing your tax return, please consult your tax advisor.