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This form is used by applicants of the OPSRP Pension Plan to elect withholding options for their lump-sum distribution payments, including both federal and Oregon state tax withholdings.
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How to fill out Oregon Public Service Retirement Plan (OPSRP) Lump-Sum Distribution Withholding Election

01
Obtain the OPSRP Lump-Sum Distribution Withholding Election form from the Oregon Public Employees Retirement System (PERS) website or your employer.
02
Fill out your personal information at the top of the form, including your name, address, and Social Security number.
03
Indicate the type of distribution you are requesting under the lump-sum distribution section.
04
Select your withholding preference for federal income tax—typically, you'll choose between withholding a flat percentage or withholding based on your declarations.
05
Decide if you want any state income tax withheld and specify the amount, if applicable.
06
Review the completed form for accuracy and completeness.
07
Sign and date the form at the designated area.
08
Submit the completed form to the appropriate retirement system office or your employer, following their submission guidelines.

Who needs Oregon Public Service Retirement Plan (OPSRP) Lump-Sum Distribution Withholding Election?

01
Individuals who are participants in the Oregon Public Service Retirement Plan (OPSRP) and are requesting a lump-sum distribution of their retirement benefits.
02
Employees who have separated from service and are eligible for a distribution from their OPSRP account.
03
Retirees who wish to receive a lump-sum payment instead of periodic retirement payments.
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The Oregon Public Service Retirement Plan (OPSRP) Lump-Sum Distribution Withholding Election refers to the process by which members can choose to have taxes withheld from their lump-sum retirement distribution from the OPSRP.
Members of the Oregon Public Service Retirement Plan (OPSRP) who are receiving a lump-sum distribution are required to file the withholding election to determine how much tax will be withheld from their distributions.
To fill out the OPSRP Lump-Sum Distribution Withholding Election, members should complete the form by providing their personal information, selecting the desired withholding amount or percentage, and signing the form where indicated, before submitting it to the appropriate retirement system.
The purpose of the OPSRP Lump-Sum Distribution Withholding Election is to allow members to manage their tax liability by specifying how much income tax should be withheld from their lump-sum retirement distributions.
The information that must be reported includes the member's personal details, the amount or percentage of withholding chosen, the type of distribution being processed, and the member's signature to authorize the withholding.
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