Employer News | December 2016

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In This Issue

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December | VOLUME #136

2017 Pension Plan Limitations


The Internal Revenue Service recently announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. Many of the pension plan limitations will change for 2017 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. View highlights...

Source: IRS

Social Security Limits Change for 2017


The maximum taxable Social Security earnings for calendar year 2017 have changed. The new maximum taxable amount is $127,200. This is up $8,700 from the 2016 amount of $118,500. The maximum taxable earnings for Medicare remain the same; there is no limit.

The dollar amount for earning a quarter of Social Security coverage has also increased. The new amount for calendar year 2017 is $1,300. This is up $40 from the 2016 amount of $1,260.

For a complete of list of all 2017 Social Security changes please review this Social Security Fact Sheet (PDF).

Please don’t hesitate to call our State Social Security Office at (907) 465-5707 or email us at melanie.helmick@alaska.gov if you have any questions.

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PERS and TRS Publications Online

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Most PERS and TRS publications are available online. You can find the latest Actuarial Valuation Reports for PERS and TRS at the following links:

PERS Publications

TRS Publications

The PERS and TRS 2016 Financial Statements and the Comprehensive Annual Financial Reports (CAFR) will be available by the end of the month or soon after.

To request a hard copy of these reports, contact the Division at (907) 465-5711.

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Employer Summary

The Division's deposit desk receives hundreds of employer deposits that include financial activity and the summary of contribution page. If the summary is sent through email to doa.drb.employerpayroll@alaska.gov, please include your employer number in the subject line of the email. This makes it much more efficient for the deposit desk.

If you have questions, please contact Erika Burkhouse at (907) 465-5715 or erika.burkhouse@alaska.gov.

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2016 W2, W3, and 1099MISC Filing Dates


This is a reminder that there has been a change to the Federal Form W-2 and Form W-3 and Federal Form 1099-MISC federal filing dates for calendar year 2016 wages.

The due date for filing 2016 Form W-2 with the Social Security Administration is now January 31, 2017, whether you file using paper forms or electronically filing.

Public Law 114-113, Division Q, section 201, requires Form 1099-MISC to be filed on or before January 31, 2017, when you are reporting nonemployee compensation payments in box 7. Otherwise file by February 28, 2017, if you file on paper, or by March 31, 2017, if you file electronically.

2016 General Instruction for Forms W-2 and W-3

2016 General Instructions for Certain Information Returns

If you have questions, please contact Melanie Helmick at (907) 465-5707 or melanie.helmick@alaska.gov.

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