Change in Coverage for Dependent Adult Children Under TRIP Health Insurance

Recently, the Department of Central Management Services (CMS) sent a letter to all Teachers’ Retirement Insurance Program (TRIP) participants regarding a new law that allows dependent adult children of TRS benefit recipients to be covered under TRIP health insurance. If a member does not have a dependent adult child under age 26, this law does not affect him/her or TRIP coverage. If a member wishes to enroll a dependent adult child, he/she may apply for coverage during the special 90-day enrollment period from May 1 to July 31, 2009. For more information on this new program, contact CMS by calling (800) 442-1300 or visit their Web site at: http://www.state.il.us/cms/download/pdfs_benefits/TRIP_packet.pdf

A Federal Withholding Message to Retirees and Survivors

A spring Topics & Report newsletter story detailed changes in the federal withholding tables for TRS annuitants. TRS is required to use a new lower income tax withholding table as part of the Federal Stimulus Package. This was reflected in your check issued on April 1. You may have noticed an increase, decrease, or no change based on your filing status.

TRS is not in the position to give tax advice. You may want to contact a qualified tax advisor or the Internal Revenue Service at (800) 829-1040 to ensure that you have adequate federal withholding for the 2009 tax year. If you are underwithholding, there could be a negative consequence at tax time.

You may contact TRS Member Services at members@trs.illinois.gov or call (800) 877-7896 if you are uncertain about the amount you are currently withholding.

Here is a link to the IRS form called Withholding Certificate for Pension or Annuity Payments (W4-P) for your convenience: http://www.irs.gov/pub/irs-pdf/fw4p.pdf. If you complete a new W4-P and forward it to TRS, it will override the status currently on file.

Online Security Increases in Member Account Access Area

Click here for more information.

Personalized Retirement Planning

A new benefit estimate feature in Member Account Access will take information from your TRS record and use it to help you calculate your retirement income. Click here for more on the Personalized Benefit Estimate.