Happy 2021 retirees and we hope that this year is off to a great start! You may have noticed a difference in your January, 2021, benefit. There are several factors that have attributed to the change which include a cost of living adjustment (COLA) increase, changes in federal tax tables which generally causes a smaller tax deduction, and some are receiving reduced health insurance premium amounts. Please direct any questions about tax tables, deductions, and liabilities to a tax professional and questions about your health insurance premiums to the State Health Benefit Plan (SHBP).
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