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Retiree Net Pay Change for 2011

In 2009, APRS retirees saw an increase in their net take home pay due to the Making Work Pay credit. This credit was applied universally and was mandatory despite the fact that retirees were not eligible for the credit. In 2009, APRS mailed a letter to retirees explaining the increase in their net pay and asking them to consult with a tax professional as to whether or not they needed to adjust their withholdings to account for the mandatory decrease. In January 2011, the Making Work Pay credit expired causing the tax tables to be readjusted once again back to the higher pre-credit rates. This caused APRS to see a decrease in their net take home pay. If a retiree believes that they need to change their tax withholding accordingly, they can submit a revised Form W-4P (found at www.ausprs.org/forms) to ensure that the correct tax is withheld. Reminder, these forms must be received by the Pension Office staff prior to the 15th of the month in which they would like the change made. Any forms received after the 15th will be processed for the following month. APRS staff cannot provide tax advice.

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