Wednesday, June 16, 2021

DRS News

CARES Act information from DRS

From DRS: The Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020 was signed into law in late March. The CARES Act provides federal support in the wake of the coronavirus pandemic and associated economic fallout. The Department of Retirement Systems has posted information on two CARES Act-related items that might impact certain DRS customers: Requesting a coronavirus-related distribution Waiver of …

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COLA Percentages – 2020

From DRS: Cost-of-Living Adjustments (COLAs) have been set for 2020. COLAs for all plans will take effect July 1 and will be reflected in end-of-July benefit payments. PERS and TRS Plan 1 will receive a 3% COLA (with a $62.50/mo cap) for 2020, effective July 1 and will be reflected in end-of-July benefit payments as a result of HB 1390 being …

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Governor’s proclamation waives certain retiree return-to-work restrictions

From DRS: On March 31, 2020, Governor Jay Inslee issued a proclamation related to the COVID-19 outbreak which waives return-to-work restrictions for retirees in specific retirement systems and plans. Under the governor’s proclamation, retirees in the Public Employees’ Retirement System (PERS), the Public Safety Employees’ Retirement System (PSERS) and the Law Enforcement Officers’ and Fire Fighters’ Retirement System Plan 2 (LEOFF 2) …

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For DRS customers: Uncertain times and your retirement

From the Department of Retirement Systems: For DRS customers: Uncertain times and your retirement The turbulence and uncertainty surrounding the COVID-19 pandemic can be unsettling whether you are currently retired, retiring soon, or even if retirement is years away. We understand your concern. Here are some things to know as we navigate through this current event. For retirees: One of the …

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