Benefit Tax Estimate

(Click "Load Data," which will enter your personal account information if you have a PERA PIN/User ID and Password. Please note-the results displayed are based on the unaudited information reported to Colorado PERA by your employer. Records will be audited prior to a formal calculation by Colorado PERA when you apply for a purchase, benefit, or a refund/rollover. If you do not have a PERA PIN/User ID and Password, you may find it helpful to refer to your latest PERA Annual Member Statement for some of the requested information.)

Use this calculator to estimate your federal and state tax withholding from your monthly retirement benefit. The state tax withholding estimate does not take into consideration the Colorado pension exclusion. All estimates will be calculated using current year tax tables, as future tax tables are not available.

Your Gross Monthly Benefit Amount may need to be reduced by a Monthly Nontaxable Amount if you have any tax-paid contributions in your account. Under the PERA benefit structure, the tax-paid balance includes member contributions made before July 1, 1984, and any tax-paid money used to purchase service credit. Under the DPS benefit structure, the tax-paid balance includes member contributions made before January 1, 1986, and any tax-paid money used to purchase service credit. To obtain your tax-deferred and tax-paid contribution information, click on the Account Access icon and log on to your account using your Personal Identification Number (PIN). Choose the Inquiry drop-down menu, then Contribution Information.

If you are currently receiving a Colorado PERA benefit, click "Load Data" to load your current information.

For more information on taxes on your Colorado PERA benefit, review the Taxes on PERA Benefits booklet.

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Your data has been loaded and is available to view in the Monthly Nontaxable Amount dialog box, which you may view by clicking the "Help me calculate my nontaxable amount" link below the Monthly Nontaxable Amount textbox.

Withholding Results





Note: Fractions of dollars are not shown; they are rounded to the nearest whole number. This page does not reflect your net benefit. Please contact PERA's Customer Service Center for a current net benefit estimate.

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Benefit Tax Definitions

Gross Monthly Benefit Amount

Enter your gross monthly payment amount before any deductions.

Monthly Nontaxable Amount

Your taxable monthly benefit amount is reduced if you have any tax-paid contributions in your account. Colorado PERA uses the Internal Revenue Service's "Simplified Method" to calculate the nontaxable portion of your benefit by prorating the nontaxable dollars over a specific number of payments.

Marital Filing Status

Select the Marital Status designated on your Withholding Preference Form, which informs Colorado PERA about your tax withholding preferences. If you do not provide instructions, federal law requires Colorado PERA to withhold federal income tax at a rate for a married individual claiming three exemptions.

Benefit Tax Information

Number of Tax Exemptions

Enter the Number of Exemptions entered on your Withholding Preference Form which informs PERA about your tax withholding preferences. If you do not provide instructions, federal law requires PERA to withhold federal income tax at a rate for a married individual claiming three exemptions.

Additional Federal and State Withholding

Enter any amounts you want PERA to withhold in addition to the amounts withheld in accordance with the IRS tax tables.

Only use this nontaxable calculator if you are not yet retired and want to estimate your future monthly nontaxable amount. If you are currently receiving a Colorado PERA benefit, enter your current monthly nontaxable amount on the previous page.

Colorado PERA uses the Internal Revenue Service's "Simplified Method" to calculate the nontaxable portion of your benefit. This method prorates the total nontaxable dollars over a specific number of payments based on your age at retirement. If you choose Option 2 or 3 under the PERA benefit structure or Option P2 or P3 under the DPS benefit structure, the number of payments is based on the combined ages of the retiree and cobeneficiary on the retirement date.

For more information, review the Taxes on PERA Benefits booklet.

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(Click Apply to use the value in the Benefit Tax Calculator)