New IRS Tax Withholding Pension Forms for 2023

For Retirees:

The Internal Revenue Service (IRS) has released a new federal tax withholding form for pension payments in 2023. The new IRS W-4P form will be required for any withholding changes received after Dec. 12, 2022, for payrolls processed in 2023 and beyond. You do not need to submit a new form unless you would like to make changes to your withholdings.

If you live in California and you wish to change your state tax withholding election, you will need to submit a separate DE-4P state tax withholding form. These forms and Frequently Asked Questions are available on the LACERS website at lacers.org/forms and lacers.org/frequently-asked-questions respectively

LACERS and/or the Club are not authorized to provide tax advice. If you are seeking tax guidance or advice, we recommend you speak to a tax professional.

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