“Compensation limits” do not refer to restrictions on the amount of salary your employer can pay you.  Rather, this term refers the maximum amount of compensation SamCERA can take into account when determining your contributions and calculating your monthly pension benefit under your retirement plan.

The Internal Revenue Service (IRS) revised the W4-P federal tax withholding form in 2022. SamCERA will begin using the new IRS W4-P forms, which are for periodic payments only, on January 1, 2023. 

If you need to make new withholding elections or make a change to your current elections, it is important to use the correct form based on your submission date to prevent delays with your withholding elections.