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COLA rates established for 2021

March 9, 2021

Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2021. 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 be reflected in end-of-July benefit payments. View the 2021 COLA percentages by retirement date and plan. Additional information is available on the COLA Frequently Asked Questions page.

Updating Your Address and/or Name

Retirees, inactive members, beneficiaries and legal-order payees: You can update your address from your online retirement account. Just select “Address” from the welcome screen. If you need to update your name, fill out and send in a printed form as well as a copy of documentation showing the change.

Active members: Update your name and/or address through your employer. That new information will soon appear in your online retirement account.

Direct Deposit

Set up and manage direct deposit of your benefit payments from your online retirement account. Just follow the “Direct Deposit” directions under “My Account” in the navigation menu.

(If you prefer to fill out and mail in a printed form, select this link.)

Beneficiary Designation

Members, you can update your beneficiary information from your online retirement account. Select “My Account” in the navigation menu and then “View/Edit” beside “Beneficiary.”

(If you prefer to fill out and mail in a printed form, select this link.)