Retired Members 1099R Tax Document

Notice 01-30-2023

Retired Members 1099-R tax documents for 2023 tax filing were mailed on 01-30-2023.
Please allow time for delivery.

1099-R Code Explanation

Note: NMERB is unable to provide individual tax advice.

If you have a Code 1 in box 7 on your 1099-R, that is because a distribution is being made to you before you have reached age 59 and 1/2, and the NMERB does not know if one of the exceptions to the 10% early distribution excise tax applies.

If you believe one of the exceptions, such as for a distribution that is part of a series of substantially equal periodic payments, may apply, you should consult your individual tax advisor.

You may also wish to refer to IRS Form 5329 and its instructions as well as the IRS website for more information. NMERB is unable to provide individual tax advice.

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Managing the retirement assets of New Mexico Educators since 1957.

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701 Camino de los Marquez
Santa Fe, NM 87505

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PO Box 26129
Santa Fe, NM 87502

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8500 Menaul Blvd. NE, Suite B-450
Albuquerque, NM 87112

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(505) 888-1560

Fax
(505) 830-2976

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