The amount on the check does not match the amount on the statement. Why?
The amount listed on your statement is the gross total. The amount on your check is after taxes are withheld. The tax breakdown is as follows: Federal: 22%, NY State: 11.7%, FICA: 7.65%
How were my years of eligibility calculated?
The years of eligibility are calculated from April 1, 2007 through your retirement. Only a full year is counted and not partial years. During this time, if you were a full-time member (excluding time as an associate member) of a bargaining unit within the PBA, you would be eligible.
I am no longer a NYS resident. Why are NYS taxes being withheld?
Because the VSF payment is NYS source income, NYS taxes have to be withheld regardless of the recipient’s residency status in NY. Most retirees should not have to file a NYS return if their only other income is their NYS pension because the VSF payments were not above the NYS standard deduction amount and their pension is not taxable in NY. Additionally, most states offer a credit for taxes paid to another state. I have included additional information below:
Filing information for New York State nonresidents
If you are a New York State nonresident you must file Form IT-203, Nonresident and Part-Year Resident Income Tax Return, if you meet any of the following conditions:
• You are a nonresident with New York source income and your New York adjusted gross income Federal amount column (Form IT-203, line 31) exceeds your New York standard deduction.
• You want to claim a refund of any New York State, New York City, or Yonkers income taxes withheld from your pay.
• You want to claim any of the refundable or carryover credits available.
• You had a net operating loss for New York State personal income tax purposes for the tax year, without having a similar net operating loss for federal income tax purposes.
I retired with a disability retirement. Why were taxes withheld from my Supplemental Fund check?
This income is completely separate from any nontaxable disability income you receive and as such is taxable.
I received the Statement but no check, why?
The statements and checks were mailed separately from different locations. Due to recent USPS delays, the check may take a little longer to arrive. We recommend waiting about a week to see if it arrives.
I retired in 2023/2024 and applied. Why didn’t I receive a check?
These checks were for the 2023 plan year and as such only individuals who were retired as of 12/31/2022 were eligible. Those who retired in 2023 can apply in the next few months for the 2024 plan year.