The annual Plan 3 transfer window will be open in January for some members of PERS, SERS and TRS Plan 2 to make a permanent move to Plan 3. Members with these plans and hire dates may be eligible to transfer to Plan 3: If this applies to you, and you would like to transfer…
Category Archives: Member
Release date for 2026 COLA amounts
The 2026 Cost-of-Living Adjustments (COLA) percentages effective July 1 for most plans have not been released. DRS will update the COLA information page when the information becomes available (usually sometime in March). You can review the current 2025 COLA adjustments on the COLA information page.
1099-R tax form available by Jan. 31
Looking for your 1099-R form for tax purposes? By Jan. 31, you can access it by signing in to your DRS online account and then selecting the 1099-R link from the main menu. From there you can view it or print a copy. Hard copies of the form will be mailed by the end of January. For…
Required minimum distributions begin at 73
Do you have DCP or Plan 3? If so, keep in mind that if you are 73 or older and are separated from employment, federal law requires you to withdraw a minimum amount from your investment account. The DRS record keeper, Voya, calculates this required minimum distribution (RMD) and pays out this amount to you…
Pension payment schedule for 2026
Mark your calendar – the new schedule is here! DRS issues pension payments on the last business day of each month. Please note: the date you receive your payment will depend on your financial institution. 2026 pension payment schedule Keep your information up to date To use a different bank account for direct deposit, update…
Find retiree news on DRS website
DRS knows that for new retirees there are many changes that come with big life transitions such as retirement. We have set up a page just for retirees. On this page you can sign up for future updates from DRS by entering your email address. Our retiree page has lots of great information that can…
More DCP savings in 2026
The IRS limits have increased for retirement savings programs like Washington’s Deferred Compensation Program (DCP). Beginning Jan. 1, you can contribute up to $24,500 per year. Age 50 or older: you can contribute an additional $8,000 beyond the limit ($32,500 for 2026). For highly compensated employees ($150,000 in FICA wages for 2025), who are age…
Retirees may continue CFD donations
Do you currently contribute to the state’s Combined Fund Drive (CFD) through payroll deduction? Keep in mind that if you are retired, or planning to retire soon, you may continue donating through a payroll deduction. If you are currently donating and retire, your donations continue into retirement until you elect to make changes. You can…
Retiring later: Is there any benefit to delaying your benefit?
We often talk about early retirement. But what about retiring later? Many people choose to continue working beyond the traditional retirement age, or they separate from employment but wait to start collecting retirement income. Whether you’re delaying for personal, financial or healthcare reasons, let’s explore how this timing affects your benefit. Why some people delay…
Don’t get surprised at tax time: Look at your spending and income for 2025
Tax season sneaks up on many of us and if you’re not planning ahead, April could bring some surprises. No matter where you’re at (working or retired) it’s smart to look at your income and spending for 2025 now, rather than in February or March. Proactive planning can save you money, reduce stress, and help…
