Home | Site Map | Help | Contact Us  
 
Pointer Image  Home
Pointer Image  General Information
Pointer Image  Account Online
Pointer Image  Online Forms
Pointer Image  Fire Marshals' Plan
   Benefit Calculation
 Benefit Options
 Disability Benefit Eligibility
 Disability Benefit Example
 Eligibility
 High-Five Average Salary
 Re-Employment
 Survivor Benefits

 1099-R Form
 Address Changes
 Benefit Increases
 Combined Service
 Direct Deposit
 How to Apply
 Notification of Death
 Preparing to Retire
 Pre-Retirement Checklist
 Re-Employment
 Refunds
 Rollovers
 Tax Information
   
  Last Updated: 05/27/2009
 
   Federal & State Tax Information
  All or most of your retirement benefit is taxable income.

Prior to January 1, 1983, all retirement contributions deducted for MSRS were taxed by the federal and state government. On January 1, 1983, all new retirement contributions became tax deferred, until retirement. You are not taxed twice on your pension contributions made before January 1, 1983. When you retire, you are eligible to recover your taxed contributions over your expected lifetime. MSRS counselors will discuss this information with you when you retire.

For federal tax information, call the IRS at 1 (800) 829-1040 or visit their Website at www.irs.gov.

For state tax information, call the Department of Revenue's Minnesota Taxpayers' Help Line at (651) 296-3781. You can also visit their Website at www.taxes.state.mn.us.

 

Spacer Image
Minnesota State Retirement System
60 Empire Drive, Suite 300, St. Paul, MN 55103-3000
Telephone: (651) 296-2761, Toll Free: (800) 657-5757, Fax: (651) 297-5238
E-Mail: info@msrs.us
Please do not include confidential information, such as social security numbers, in email
correspondence with MSRS.
An Equal Opportunity Employer
Spacer Image