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TRS processed January 2022 monthly retirement benefits using the federal income tax withholding rates for 2021, the federal rates publicly available at the time. The IRS released the 2022 rates in the second half of December, after the deadline for timely payment processing.
Your February retirement benefits will reflect federal withholding based on the 2022 rates. You may notice a slight increase in your net benefit payment, due to the reduction in withholding per the 2022 rates.
The delay by the IRS impacted only federal tax withholding, and not state of Georgia withholding.
To update your tax withholding or view information about your TRS benefits, log in to your account today at www.trsga.com/account-login/.