Your Retiree Annual Statement
NOTES: Tax withholding on page 2 does not display the amount being withheld in the current year associated with the allowance chosen by the retiree. This is because that amount can change over the course of the year, particularly when cost-of-living adjustments (COLAs) are added (as applicable) in July.
Also, on the retiree annual statements for many retirees who retired before 2009, the life insurance beneficiary and possibly the retired account beneficiary lines on the statement are blank. This is because those designations weren’t always recorded electronically. If you made a designation before then, the designation remains valid even though it is not shown. No action is required.
Retiree annual statements, which first were sent in 2021, are modeled after the annual statements that active members have received for decades. The Statement of Retiree Benefit Account is a summary for retirees is sent annually.
Review this statement, and keep it with your other TRS documents.
The retiree account statement summarizes your information on file with TRS. It shows your annuity benefits; tax withholding amounts and elections; direct deposit information; retiree health insurance; and the beneficiaries and legal contact information for your account. Also, the summary indicates how to update contact information and life insurance beneficiaries.
The information on the statement does not change any benefits or benefit structure – it’s an informational statement. It is an important document, but it is not a tax record. For taxes, use the IRS Form 1099-R, which was mailed in late January.
If you have questions, contact TRS at 800-618-1687.