The IRS requires pension plans to send participants, dependents and beneficiaries who received pension benefits in 2023 a form called 1099-R or a 1042-S. It is used to report the distribution of retirement benefits which includes your SAG Producers Pension Plan, annuities or other retirement plans. In addition, we are required to send notices of tax changes to participants who have a pension that may be impacted. Keep the 1099-R or 1042-S form with any change notifications and include them as you prepare your taxes this year. No other action is required. (1042-S is the 1099-R equivalent for non U.S. residents)
You may also download a copy of your 1099-R or 1042-S form by logging into Benefits Manager.
The 1099 forms will be mailed by the end of January 2024.