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 download a Substitute Form W-4P pdf format of Substitute Form W-4P
, complete it and send it to our main office. Be sure that you mail your form so that it is received in our office by the 15th of the month in which you want the change to occur.