Changing your federal tax withholding

Your retirement benefit is subject to federal income taxes. If you are a Massachusetts resident, however, your benefit is not subject to state income taxes. At the time of your retirement, we ask you to instruct us whether you want us to withhold any amount for income taxes and, if so, how much.

Please note:

• Unless you direct us otherwise, we must withhold federal income tax starting with your first payment.
• You may change your tax withholding amount at any time before or during your retirement by notifying us in writing. Simply write a letter describing your requested change, or complete IRS Form W–4P (4 pages; pdf), and send your request to our main office.
• For more information on tax withholding, please see Taxation of your benefit.