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What category do I choose for University of California Retirement Plan (UCRP)

I am going through my W-2 and it is asking me to choose a category for my Pension Plan, and I don't know what to choose.
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3 Replies
JohnB5677
Expert Alumni

What category do I choose for University of California Retirement Plan (UCRP)

Please clarify:

 

Box 12 indicates money you had taken out of your pay for a form of retirement plan.  You typically do not contribute to a pension plan.

 

The typical codes for retirement plans are

  • D - 401 K
  • E - 403 B
  • F - 408 K
  • G - 457 B
  • H - 501 C
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What category do I choose for University of California Retirement Plan (UCRP)

UCRP (University of California Retirement Plan) gets classified as 'OTHER (not classified)'. The amount shown in box 14 as UCRP, is the amount of retirement compensation you earned. Note that this amount IS included in box 3, but NOT included in box 1 wages. Meaning that the box 14 amount is for your reference only. You won't need to pay taxes on that money, until the year you pull it from your pension. 

KrisD15
Expert Alumni

What category do I choose for University of California Retirement Plan (UCRP)

Many entries in Box 14 are for your information only. 

UCRP is one of them. 

Selecting "Other (not classified)" for the category regarding Box 14 is what you want to do in TurboTax for that W-2.  

 

@rbushard1969

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