Tax documents on the way

OPERS to complete mailing form 1099-R to retirees by end of January

By Michael Pramik, Ohio Public Employees Retirement System

Jan. 23, 2025 – Tax season will soon be here. OPERS has begun mailing paper copies of 2024 Form 1099-R, used to report the distribution of retirement benefits.

We will complete mailing the 1099-Rs no later than Jan. 31. However, you can view and print the document now by signing in to your OPERS online account.

Your 1099-R will not provide vision and/or dental premium deductions for 2024. This information is available by logging in to your online account and accessing your 2024 OPERS Health Care Premium Receipt.

OPERS will generate a 2024 1095-B health care form for retirees, but we will not mail them. IRS guidance on the form’s distribution allows health plan sponsors to provide access to them through other means. These forms are reference documents that validate health plan coverage but do not have to be filed with your tax returns.

Log in to your OPERS online account to view and print the 1095-B. If you don’t have a printer, you can request a copy to be mailed by sending a secure message from your online account, calling 1-800-222-7377 or by writing to OPERS at 277 E. Town St., Columbus, Ohio, 43215. All requests for copies will be fulfilled within 30 days of the request.

Basic information regarding filing your taxes as an OPERS benefit recipient is available within the 2024 Income Tax Guide for OPERS Benefit Recipients.

Changes in your February benefit amount

You may see a change in your pension benefit amount beginning with your February payment. This adjustment is because of federal tax table changes and their impact on the amount of federal tax OPERS withholds from your benefit.

If your benefit is impacted by the tax table changes, you will receive a Statement of Benefit Payment in the mail during the first two weeks of February. If you direct your attention to the line labeled “Minus Federal Income Tax” on the notice, you’ll see the difference between your January 2025 and February 2025 benefit amount. If you would like to know your February benefit amount now, it’s available to view by signing in to your OPERS online account.

OPERS cannot provide advice on your tax withholding. If you have questions, we suggest you see a tax adviser. You can change your tax withholding, or just see how changing your withholding will affect your monthly benefit, at any time through your online account.

Michael Pramik

Michael Pramik is communication strategist for the Ohio Public Employees Retirement System and editor of the PERSpective blog. As an experienced business journalist, he clarifies complex pension policies and helps members make smart choices to secure their retirement.