The State of Connecticut department of Revenue Services has announced new Income Tax withholding Requirements. Effective January 2, 2018, for taxable pension of annuity payments made to Connecticut residents, we are required to have on file a CT W-4P form, completed and signed by you, and withhold Connecticut income tax according to your CT W-4P withholding election.
Enclosed please find the update Form CT-W4P and Special Notice (SN 2017 (5)) issued by the State of Connecticut Department of Revenue Services. Please read all instructions carefully and complete the withholding form based on your filing status. You may want to consult with your tax advisor. We need to receive the completed updated form CT-W4P from all Pensioners even if you currently have Connecticut tax being withheld from your pension. Please note that we will no longer be able to withhold a specific dollar amount from your monthly payment.
If we do not receive your completed CT-W4P back by January 1, 2018, we are required to withhold at a rate of 6.99% of your gross monthly pension.
It is critical that you return your completed CT-W4P form as soon as possible. The CT-W4P form can be downloaded from the State of Connecticut W4P site. If you have any questions please contact the Pension Fund at (860) 728-1100 or (800) 227-4744, Monday to Friday from 9:00 AM to 5:00 PM.