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Service Retirement Application

Customer Name: JOHN DOE

Your Defined Benefit (DB) Tax Withholding Preferences

Federal and California state laws require CalSTRS to withhold income tax on all benefit payments unless you specify otherwise.

Choose Your Tax Withholding Preferences
Be Aware
There are penalties for not paying enough federal and state tax during the year, either through withholding or estimated tax payments. See IRS Publication 505, Tax Withholding and Estimated Tax.external link It explains estimated tax requirements and describes penalties in detail. You may be able to avoid quarterly estimated tax payments by having enough withheld from your retirement benefit payments.

Federal Income Tax Withholding

* Make Your Selections
  Do not withhold federal income tax from my monthly benefit payment.  
  Withhold federal income tax from my monthly benefit payment.  
   
* Calculate my monthly withholding from the federal tax tables using the marital status and the number of allowances shown below.
Single
  Enter number of allowances:
Married
  Enter number of allowances:
Additional Withholdings (Optional)
In addition to the amount withheld based on the federal tax tables, withhold an additional total of $ per month.
   
 

California State Income Tax Withholding

* Make Your Selections
  Do not withhold California state tax from my monthly benefit payment.  
  Withhold California state income tax from my monthly benefit payment.  
   
* Calculate my monthly withholding from the California state tax tables using the marital status and the number of allowances shown below.
Single
  Enter number of allowances:
Married
  Enter number of allowances:
Head of Household
  Enter number of allowances:
Additional Withholdings (Optional)
In addition to the amount withheld based on the California state income tax tables, withhold an additional total of $ per month.
   
 
  Withhold a flat amount of only $ per month.  
 

*Required fields to continue.
       
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