AUTOMATIC FEDERAL TAX WITHHOLDING
You may elect to have Federal Tax Withholding deducted from your monthly pension payments.
Withholding is one way for you to pay a portion of your income tax. If no tax, or not enough tax, is withheld from your benefits, you may have to pay estimated taxes during the year or a tax penalty at the end of the year. Of course, whether you have to pay federal income tax on your pension payments depends on the total amount of your taxable income. Remember, for most people, Social Security benefits are not taxable.
If you would like to have Federal Withholding deducted from your pension payment or would like to change the amount withheld, you can obtain the form on this website or call the Fund Office for a form.