MMC Benefits Handbook
Withholdings
You may change your tax withholding election by completing a new IRS form W-4P. You may get a copy of the form at the IRS website.
If the SRP benefit is being paid in the form of a monthly annuity and you do not want to have standard tax withholding to apply, you must submit an IRS form W-4P.
Monthly and single sum payments and withholdings are reported on an IRS form W-2. This form is mailed no later than January 31st.
If you die and benefits under the SRP are paid to a designated survivor or beneficiary, payments and withholdings are reported on IRS form 1099-MISC. This form is mailed no later than January 31st.