Retired Members 1099R Tax Document

1099-R Notice for the 2023 Tax Year

Retired Members 1099-R tax documents for 2024 tax filing were mailed out on January 19, 2024. 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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