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DIRECT
DEPOSIT-MONTHLY DEDUCTION FORM
Retirees, you may use this form to change your direct deposit information and/or to select monthly deductions from your monthly retirement distribution. Download the form to your printer, complete it and mail it to the pension office. Monthly deductions selected will be paid by check to the payee listed.
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MONTHLY PENSION DEDUCTIONS FOR INSURANCE PREMIUMS EFFECTIVE JANUARY 1, 2012 Notification of changes to any deductions from your pension check that is due January 1, 2012 must be made in writing by completing a new Direct Deposit Deduction Form. The original, signed, completed form must be received by the pension office no later than Thursday, December 1, 2011, no exceptions! If you pass this deadline you will be responsible for submitting payment directly to the City of Palm Bay for the difference of what you currently have deducted from your monthly pension versus any revised amounts owed. If you have health coverage through the City of Palm Bay and have those premiums deducted from your monthly retirement check, then you must contact Jennifer Clark, City of Palm Bay Benefits Coordinator at (321) 952-3421, ext. 3203. There may be changes to the current health coverage being offered. She expects letters to go out to retirees impacted around the first week of November with on-line open enrollment November 14-28, 2011. She anticipates information/computer lab sessions to be held November 14-22, 2011. Should you have any questions concerning your monthly pension deductions, call the pension office immediately at (321) 724-8877.
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RETIREE FEDERAL WITHHOLDING FOR 2012 (W-4P)
New federal withholding tax tables were implemented by SunTrust Bank effective January 1, 2011 that increased rates for most retirees. Please check your current withholding. Should you need to make any changes, contact the Sun Trust Bank Call Center at 1-866-855-6738 or the Pension Office at 321-724-8877.
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HELPFUL INFORMATION FOR RETIREES Retired members of the Palm Bay Police and Firefighters Pension Plan with questions regarding their check disbursement; direct deposit; federal withholding selection; or change of address notification should contact the following: (1) SUNTRUST BENEFIT PAYMENT PROCESSING CENTER SPECIALISTS TELEPHONE: 1-866-855-6738 (2) Palm Bay Police and Firefighters' Pension Board
Conlan Professional Center (3) NOTICE TO RETIREES: YOUR 1099Rs are being mailed from Sun Trust Bank. If you receive two, it means that you may have moved out of the State of Florida during the year. One form will reflect the pension funds paid to you while living in Florida. The second one will reflect the pension funds paid to you while living in your new home state. The state you move to may or may not have a State Income Tax. Box 11 will reflect a State ID Code that provide the IRS with your state's code that will help them to determine if state income tax applies. If a portion of your pension income has been pre-taxed, it will also be reflected on the form in a one of the separate boxes. (5) BENEPAY Within 30 days of receipt of your first retirement check, you should receive a Personal Identification Number (PIN) through the mail through SunTrust Bank. This will enable you to access your monthly check information through on-line access called "Benepay." You can access Benepay on the main page of this website at the bottom of the menu selection in the far-left column. Click on the SunTrust logo and use your PIN number to access your information. Need help, call us! (6) ANNUAL RETIREE AFFIDAVITS Once you retire, you will be receiving annual retirement affidavits from us. These forms must be completed and returned within 30 days of receipt. Any questions, call us! |
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Under Florida law, e-mail addresses are public records. If you do not want your e-mail address released in response
to a public-records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.