Friday, 12 06, 2013
Kentucky Retirement Systems
Questions call: 1-800-928-4646
1099s were mailed the week of January 20. Members will receive their 1099s via USPS by January 31. Remember the 1099-R can also be accessed through Self Service at https://myretirement.ky.gov.
What is Box 5?
Many retirees, when actively employed and paying into KRS, paid contributions with after-tax dollars. After-tax contributions were any regular employee contributions made prior to August 1982, or service purchases made with after-tax payroll deductions or via a check. When retired, these members have a portion of their monthly payments excluded from taxation, based on how much money they paid in with after-tax dollars. This excluded amount for the year is displayed in Box 5. If you add the amount shown in Box 5 with the amount shown in Box 2a (your taxable amount), you will have the total distribution for the year found in Box 1 of the 1099-R.