Sunday, May 9, 2021

DRS News

COLA Percentages – 2021

COLA Percentages – 2021 Posted 3-5-2021 Cost-of-Living Adjustments (COLAs) have been set for 2021. LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. COLAs for all other plans will take effect July 1 and will be reflected in end-of-July benefit payments. Most COLAs are based on changes in the Consumer Price Index for the greater Seattle …

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Governor’s proclamation waiver expired for certain retiree return-to-work restrictions

From DRS: July 1, 2020 Governor Jay Inslee’s proclamation related to the COVID-19 outbreak, which waived return-to-work restrictions for retirees in specific retirement systems and plans, has expired; it was in effect through July 1, 2020. The previous return-to-work laws resumed on July 2. The governor’s proclamation, provided retirees in the Public Employees’ Retirement System (PERS), the Public Safety Employees’ Retirement System …

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DRS to reduce customer service availability to manage furloughs, workload

DRS to reduce customer service availability to manage furloughs, workload The Department of Retirement Systems will reduce customer service availability and implement closure days beginning next week due to mandatory furloughs of team members and high seasonal volumes of retirement processing. Learn more about these upcoming service impacts.  

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PERS 1, TRS 1 one-time benefit increase takes effect in July

From DRS: As a result of legislation approved earlier this year, certain retirees in Plan 1 of the Public Employees’ Retirement System and Plan 1 of the Teachers’ Retirement System (PERS 1 and TRS 1) will receive a one-time benefit increase in July of this year. Under the law, eligible PERS 1 and TRS 1 retirees will receive a one-time, permanent 3% …

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