Hello and thanks for trusting me to help you today. I am a tax adviser with over 20 years of experience.
Unless you tell the state to stop or change your withholding
on the pension
, the same designation you had for your wages (as far as your W4 showed) will continue for your pension.
There will not be any SS or Medicare
You can complete a NJ-W-4P form
to change your withholding or request they completely stop withholding.
To tell you how much they will withhold depends on what your current W4 designation is (filing
status and exemptions).
FREE EXTRA INFORMATION FOR YOU
To help you make a choice on your withholding:
If you do not live in New Jersey, your pension is not subject to New Jersey State income
tax. If you live in New Jersey, your pension is taxable when you have recovered in retirement
checks an amount equal to your total contributions to the pension plan.