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1099-R Frequently Asked Questions
GASB 68 Allocation Schedules Now Available
The first link below is to the OTRS “Schedule of Employer Allocations and Schedule of Pension Amounts by Employer” required by GASB 68. These audited schedules indicate each participating employer’s share of the “Net Pension Liability” of OTRS. The amounts in these schedules are to be used for employers’ FY 2015 financial statements. The schedules also include each employer’s “deferred Inflows and outflows of resources” and the employer’s pension expense. The second link below provides additional information about GASB 68 and contains further links to other helpful resources.
Announcement - Tax Withholding Tables
The federal and state withholding tables have been recently updated in the OTRS accounting system, which may result in a small change to your monthly benefit payment amount. Any changes will be reflected beginning with the February 1, 2016 benefit payment. You should receive a separate letter detailing any changes to your monthly benefit payment.
If you wish to change your tax withholding for future benefit payments, the Monthly Tax Withholding Request form can be found on our website at http://www.ok.gov/TRS/Forms/index.html. If you have questions, please call 405-521-2387 or Toll Free 1-877-738-6365.