2025 Tax Information for PSRS/PEERS Benefit Recipients
As the year ends, PSRS/PEERS benefit recipients should be aware of important tax information for 2025.
1099-R Tax Forms
Your 2025 IRS Form 1099-R will be postmarked by Saturday, Jan. 31, 2026. This form shows the total benefits you received from PSRS/PEERS in 2025 and the taxable portion. You’ll need this form when filing your federal and state tax returns.
You can also view and download your 1099-R through Web Member Services. If you haven’t signed up yet, we encourage you to create an account.
Tax Withholding
Your PSRS/PEERS benefits may be subject to:
- Federal income tax
- Missouri state income tax (if you live in Missouri)
Federal tax is withheld from your monthly benefit based on IRS guidelines, unless you request otherwise. You can change your withholding or request additional withholding at any time through Web Member Services.
Missouri Public Pension Exemption
If you live in Missouri, you may qualify for the public pension exemption. Depending on a variety of factors, you may be able to deduct up to 100% of your public retirement benefits received from PSRS or PEERS on your Missouri income tax return. Starting with the 2024 tax year, the exemption is no longer limited by your filing status or Missouri adjusted gross income. The total public pension exemption is limited to the maximum Social Security benefit of each individual.
Visit https://dor.mo.gov/faq/taxation/individual/pension-tax-year-2024.html for more information.
Also Watch for Your Benefit Statement
Your 2026 Benefit Statement will be available in late January 2026. It includes:
- Your monthly benefit amount
- Tax withholding details
- Cost-of-living adjustments (COLAs)
- Beneficiary information
Please review your statement and update your contact or beneficiary information if needed.