March 2023 Paycheck Flyer

Paycheck Flyer
Bright sky background, text reads: Welcome Back
LACERS REOPENS APRIL 3RD AT ITS NEW HEADQUARTERS

We’ve missed you! LACERS has recently moved to its very own, state-of-the-art building in Chinatown. We are pleased to announce that on April 3, we will once again be able to assist you with your retirement needs in-person as we welcome you to our new headquarters. Visit LACERS.org to learn more about our building located at 977 N. Broadway. We look forward to seeing you soon. 

TAX WITHHOLDING FORMS FOR 2023

The IRS has created a new Form W-4P (Withholding Certificate for Periodic Pension or Annuity Payments) that is now in use for requesting any federal tax withholding as of January 2023. The new Form W-4P is available at lacers.org/forms-info-sheets for your use. The following is a summary of some of the changes to the Form W-4P:

1. You may now select one of the following marital status options:

  • Single or Married filing separately
  • Married filing jointly or Qualifying surviving spouse
  • Head of household

2. The new form captures income from multiple jobs/pensions/annuities.

3. You may claim dependents and other credits.

4. The default withholding is now Single with no adjustments (changed from Married with three allowances).

You may access your MyLACERS account at https://mylacers.lacers.org to view and estimate your tax withholdings. LACERS Members and beneficiaries who already receive ongoing payments and who do not wish to make changes to their federal tax withholding elections are not required to file a new form; however, it is recommended that you review your withholdings and determine whether an adjustment is necessary. If you live in California and wish to change your state tax withholding election, you will need to submit a separate state tax withholding, Form DE-4P, also available at lacers.org/forms-info-sheets. For more information on new Federal tax withholding forms, please navigate to our Frequently Asked Questions under the Retiree tab at lacers.org/frequently-asked-questions. 

LACERS HOSTED ITS FIRST VIRTUAL PENSION SYMPOSIUM 

LACERS hosted its first virtual Pension Symposium on February 22, 2023. The event featured a range of speakers presenting on the national perspective of public pensions, risks to public pension funds, aspects of investments, retirement, and LACERS’ operations and innovations. To view the recording of this event, visit the LACERS YouTube channel at youtube.com/lacersyoutube.

JOIN US FOR LACERS WELL UPCOMING EVENTS

Register for the virtual events below through your MyLACERS account at https://mylacers.lacers.org. If you need assistance, call LACERS at (800) 779 – 8328 or email lacerswell@lacers.org. For a full list of upcoming events visit lacers.org/lacers-well-events.

  • Mom’s Computer Technology Class: Wednesday, April 12 at 2:00 p.m.
  • Fitness Made Simple: Wednesday, April 19 at 9:30 a.m.
  • Well-Being Webinar Series, Health, Wellness, and Wholeness: Thursday, April 13 at 10:00 a.m.
  • Well-Being Webinar Series, Late-Life Transitions: Thursday, April 20 at 10:00 a.m.
  • Well-Being Webinar Series, Emotional Intelligence: Thursday, April 27 at 10:00 a.m.
  • Brain Health Class, Behaviors & Alzheimer’s Disease: Wednesday, April 26 at 2:00 p.m.
  • Kaiser Well-Being Classes on Healthy Eating, Dietary Approaches to Stopping Hypertension (DASH Meal Plan): Tuesday, April 18 at 10:00 a.m. You are not required to be a Kaiser member.
  • Kaiser Well-Being Classes on Healthy Eating, Plant-Based Meal Planning: Tuesday, April 25 at 10:00 a.m. You are not required to be a Kaiser member.

Missed past LACERS Well events? We have several event recordings on various topics – finances, emotional wellness, fitness, and more! Visit the LACERS YouTube channel at youtube.com/lacersyoutube and be sure to hit the subscribe button to receive alerts of newly posted videos.

 As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request will provide reasonable accommodations to ensure equal access to its programs, services, and activities. 

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