Tuesday, July 5, 2022
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DRS News

Returning to work hours

From the Department of Retirement Systems: Some retirees can now work up to 1,040 hours and continue receiving benefits In 2022 the Washington State Legislature approved ESHB 1699 which created an exemption to retiree return to work rules. The exemption allows some retirees from the Teachers’ Retirement System (TRS), Public Employee’ Retirement System (PERS), and the School Employees’ Retirement System …

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COLA rates established for 2022

From the Department of Retirement Systems: Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2022. LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. For all other plans that are eligible for a COLA, the COLA will take effect July 1 and will …

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Looking for your 1099-R form for tax purposes?

From the Department of Retirement Systems: Washington State DRS – 1099-R tax form available online Jan. 22 Looking for your 1099-R form for tax purposes? The forms will be available beginning Jan. 22. You can access it by signing in to your retirement account and then selecting the 1099-R link from the main menu. From there, you can view it or print …

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WSIB Enhances Retirement Strategy Funds

From the Department of Retirement Systems: WSIB Enhances Retirement Strategy Funds This fall, a change is coming to DRS Retirement Strategy Funds (RSFs), which are provided by Washington State Investment Board (WSIB). They will include a new component called the Total Allocation Portfolio (TAP). The TAP includes a broad mix of asset classes including public market investments (public equities and fixed income) plus …

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