Category: Retirees
Cost-of-living adjustment approved!
Updated 12/17/2020 FY21 budget signed by the Governor; retroactive COLA included in December benefit payments On Friday December 11, the Governor signed the final FY2021 budget, which includes a 3% COLA on the first $13,000 of your MTRS benefit, retroactive to July 1, 2020. The retroactive COLA will be included in the December 2020 benefit…
Retirees: Avoid coronavirus scams
During the coronavirus pandemic, as trillions of dollars in stimulus funds flow to individuals and businesses, be aware that scammers are increasing the frequency and aggressiveness of their activity, targeting everyone, including retirees. Here are some tips to assist you in identifying and avoiding fraudulent activity. Be suspicious of all unsolicited phone calls or emails.…
Benefit recipients: Watch your mailbox for your 1099-R tax form to arrive soon
By January 31, all 1099-R tax statements will be mailed to all individuals who received a benefit payment from the MTRS in 2019. The first batches have begun mailing this week. Along with your tax form, you will receive an insert that includes information on how to read your 1099-R as well as the pension payment schedule…
Read more Benefit recipients: Watch your mailbox for your 1099-R tax form to arrive soon