Comments:
It would have been nice for CTPF to put in the Message portion of the January 2011 pension statement that Federal income taxes would be going up so that we would be receiving less money in our February 2011 pension checks. They let us know that we received an increase in the January 2011 check. I had to compare my January 2011 statement with the February 2011 statement to figure out why the net amounts were not the same.
Didn't CTPF want a lot of angry callers? For those of us who did call CTPF inquiring about the lesser amount, one of the selections on the automated list was about the increase in federal income taxes. Isn't that interesting?!
Also interesting that the Obama administration never said a word about increasing federal income taxes. They definitely let us know that they were decreasing payments into Social Security coffers.
It would have been nice for CTPF to put in the Message portion of the January 2011 pension statement that Federal income taxes would be going up so that we would be receiving less money in our February 2011 pension checks. They let us know that we received an increase in the January 2011 check. I had to compare my January 2011 statement with the February 2011 statement to figure out why the net amounts were not the same.
Didn't CTPF want a lot of angry callers? For those of us who did call CTPF inquiring about the lesser amount, one of the selections on the automated list was about the increase in federal income taxes. Isn't that interesting?!
Also interesting that the Obama administration never said a word about increasing federal income taxes. They definitely let us know that they were decreasing payments into Social Security coffers.
Added: February 7, 2011
Name: Barb
E-mail: Contact
I still do not understand the increase in federal withholding tax. I was under the impression that all tax rates would remain the same as 2010 for the next 2 years. The explanation on the RTAC home page doesn't make sense to me. When I called the CTPF, I was only told that the IRS required the withholding tax increase. I have called Mike Quigley's office. We will see what they find out about this.
My BCBS HMO monthly payment went up by almost $100 in January. Then the monthly federal withholding tax increased by about $30. I still do not qualify for a COLA. My pension net decreases every year while food, gas, taxes, utilities,repairs, dental, etc. all increase. February's check took the biggest hit yet. Perhaps we should all start selling apples outside the offices of our state legislators so that they can see what they are doing to us.