On Monday, January 1, 2024, we’re implementing the following updates that may change the monthly net DERP Pension Benefit payment for retirees or beneficiaries.
- Applying the IRS federal tax withholding rates.
- Updating the 2024 health insurance premium rates.
- Adding the 2024 health insurance elections.
Do you need to do anything if you’re receiving a monthly DERP Pension Benefit payment?
No, there is nothing you need to do, unless you want to modify your federal or Colorado tax withholdings.
What do you need to do to modify your federal or Colorado tax withholdings?
Log in to your MyDERP.org account and select the Tax Withholding button or hyperlink. Changes must be completed by the 20th calendar day of the month take effect on your next payment.
Reminder, we can’t withhold state taxes for other states, and we can’t provide tax counseling. Questions about your taxes should be directed to your personal tax advisor, the IRS, and/or the Colorado Department of Revenue.
Questions?
Email Help@DERP.org or call (303) 839-5419.