How to Read Your 1099-R
If you received pension benefit payments from Colorado PERA in 2022, we will mail year-end tax information on IRS Form 1099-R by January 31, 2023. You will need this form to file your income tax return.
More helpful information, including a video and 1099 instructions, is available on the "1099-Rs" page in the “Retirees” section of copera.org.
Total dollar amount of benefits paid to you by PERA in 2022.
The total amount of your taxable benefits you received from PERA in the tax year noted. If you do not have any previously taxed contributions, your entire benefit amount is taxable.
2B—Taxable amount not determined/Total distribution
If you have an “X” in the “Taxable amount not determined” box and Box 2a is blank, you will need to determine the taxable portion of your annual benefit.
3—Capital gain (included in box 2a)
Reports a dollar amount if you were born before January 2, 1936.
4—Federal income tax withheld
Federal income tax withheld from your benefit in the tax year noted.
5—Employee contributions/Designated Roth contributions or insurance premiums
The nontaxable amount of benefits you received in the tax year noted (the difference between Box 1 and Box 2a). Do not report this amount on your tax returns. This number does not refer to the premiums you paid to PERA for health care or life insurance. If you need the amount of your insurance premiums, refer to your yearend benefit check or EFT statement.
- If you have previously taxed contributions in your PERA account, PERA uses a cost-recovery method recognized by the IRS to amortize the nontaxable dollar amount each year and reports it in Box 5.
- If Box 5 is blank and there is an “X” in Box 2b “Taxable amount not determined,” you must determine the nontaxable portion of your annual benefit.
In cases where the benefit recipient passed away during the reporting year and no future monthly benefits are payable, Box 5 may also include the balance of any previously taxed contributions not recovered through the cost-recovery method.
Identifies the type of benefit being paid; please refer to your 1099-R for descriptions.
9B—Total employee contributions
The total tax-paid contributions in the PERA member account at the time of retirement (will only print for the first year of retirement).
14—State tax withheld
Colorado state income tax withheld from your benefit. (PERA only withholds state taxes for Colorado.)
15—State/Payer's state no.
Payer’s state no. is used by PERA for filing purposes with the State Department of Revenue.
Your PERA-assigned account number that appears on correspondence including your benefit statement or benefit check.
To print past 1099-Rs, log in to your PERA account on copera.org by clicking the green “Member/Login Registration” button and entering your User ID and password. If you haven’t set up your online user profile, click the green “Member/Login Registration” button and then click “Register as a new user.”