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Serving those who keep us safe.
| Volume 52 | February 2025 |
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The Pensioner: In the Moment |
| In this digital edition, you’ll find news, updates, and essential information for retirees of the Missouri Department of Transportation, the Missouri State Highway Patrol, and MPERS. |
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1099-Rs Have Been Mailed
Your 2024 1099-R forms were mailed the last week of January and are available online in your myMPERS account. Access them easily and securely by logging in today. If you have any questions or need assistance, feel free to reach out to us.
Remember, if you worked and retired during the 2024 tax year, you will receive a W-2 from your former employer AND a 1099-R from MPERS for tax reporting purposes. If you opted to take BackDROP, you will receive an additional 1099-R that reflects your distribution choice. For example, if a combination cash/rollover was chosen, expect a 1099-R for each distribution of the lump sum.
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Important Update for MPERS Members!
As we gear up for tax season, remember to protect your personal information online. Here are some quick tips to keep your data secure:
- Use strong, unique passwords for your accounts.
- Enable two-factor authentication wherever possible.
- Be cautious of phishing emails and suspicious links.
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The COLA Rate for 2025 is 2.359%
MPERS provides an annual cost-of-living adjustment (COLA) to eligible retired members, surviving spouses, former spouses, beneficiaries, surviving children under the age of 21, and work-related disability recipients. The annual COLA rate is based on 80% of the average percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U), with an annual maximum of five percent. The COLA ensures that your retirement benefits keep pace with inflation and maintain your purchasing power.
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For Closed Plan benefit recipients, COLA increases are applied to your benefits in October each year.
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If you were employed before August 28, 1997, your annual COLA rate will not be less than four percent or more than five percent until the total increase equals 65% of your initial benefit. After reaching this cap, your annual COLA rate will equal 80% of the increase in the CPI-U, with an annual maximum of five percent. This includes work-related disability recipients employed before August 28, 1997, who became disabled before July 1, 2004.
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For those employed after August 28, 1997, the annual COLA rate will equal 80% of the increase in the CPI-U, with an annual maximum of five percent.
- For Year 2000 Plan benefit recipients, COLA increases are received on the anniversary date of your retirement or BackDROP date. The annual COLA rate will equal 80% of the increase in the CPI-U, with an annual maximum of five percent.
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Need to update your mailing address?
Simply log on to myMPERS and make the change.
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