state tax deductions

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state tax deductions

lcjones114
Joined: 12 Jan 2016, 15:36

12 Jan 2016, 15:54 #1

Has anyone else had this problem? Voya in 2013 automatically deducted the Mo. state taxes from my pension check as they were always done in the past. Then in 2014 they deducted no state taxes. I realized this when I started to file my 2014 tax returns. I contacted the pension office and they told me they needed me to tell them the amount of state tax I wanted deducted because they had no access to the states information. They did in 2013 but not in 2014 or 2015?? I contacted the states of MO., Kansas, Iowa, Arkansas and Illinois and all of the state comptrollers said there is a corporate web site for the corporations to get the current years standard tax rate for payroll (including pension checks)

I now am paying huge fines for no state taxes deducted form my checks. Alcatel-Lucent refuses to help in any way.

Let me know if this is happening to all of the rest of the pensioners, please. My email is lcjones114@aol.com
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Hampstead
Joined: 18 Jul 2015, 13:53

13 Jan 2016, 15:17 #2

I don’t live in MO. but I’m trying to follow you.
I’ve never heard of Voya, but they appear to be a financial company that manages retirement funds. My first thought about the no state taxes taken out was .. isn’t the check coming from Alcatel-Lucent minus any taxes to begin with before Voya receives it? Unless, you instructed Alcatel-Lucent not take taxes out … which I’m sure you can do .. not sure why, but that’s the only answer I can see to what’s happened. With your process ... Alcatel-Lucent and Voya … do/did you receive monthly statements? If so, seeing no state taxes taking out on the first or second check would have been an immediate red flag. I understand your desire to blame others – unless your contract with Voya covers something like this – but it sounds like you’re at the bottom line of the tax form .. the I agree all information is correct statement. .... and have to pay the state. The only hope I see is reimbursement from Voya and if that happens (I wish you the best of luck on that) .. later move you money out of Voya. If their light bulb doesn’t go on with the simple/basic tasks – how could you feel conformable managing your money .. just my 2 cents. Good luck.
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my9cats
Joined: 21 May 2014, 13:12

14 Jan 2016, 16:15 #3

Hampstead wrote:I don’t live in MO. but I’m trying to follow you.
I’ve never heard of Voya, but they appear to be a financial company that manages retirement funds. My first thought about the no state taxes taken out was .. isn’t the check coming from Alcatel-Lucent minus any taxes to begin with before Voya receives it? Unless, you instructed Alcatel-Lucent not take taxes out … which I’m sure you can do .. not sure why, but that’s the only answer I can see to what’s happened. With your process ... Alcatel-Lucent and Voya … do/did you receive monthly statements? If so, seeing no state taxes taking out on the first or second check would have been an immediate red flag. I understand your desire to blame others – unless your contract with Voya covers something like this – but it sounds like you’re at the bottom line of the tax form .. the I agree all information is correct statement. .... and have to pay the state. The only hope I see is reimbursement from Voya and if that happens (I wish you the best of luck on that) .. later move you money out of Voya. If their light bulb doesn’t go on with the simple/basic tasks – how could you feel conformable managing your money .. just my 2 cents. Good luck.
Both Federal and state are deducted from mine. I pay more than required for both as I can't be bothered doing quarterly taxes. With what is taken out, so far (2003) covers me for all my various 1099's and has enabled me to get a refund on both every year. I view it as forced savings. Works very well for me.
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mendomann
Joined: 09 Jun 2008, 21:40

15 Jan 2016, 00:44 #4

In my opinion, withholding more than is required is giving the Govt. an interest free loan.
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lucentretirees
Site Admin
Joined: 27 Dec 2006, 23:00

15 Jan 2016, 01:58 #5

Voya was the pension plan administrator for the Alcatel Lucent pension plan until a few years ago. So they managed pension payments for ALU. This has been changed to AON Hewitt today.
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