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PSRS/PEERS News

January 2017 COLA Set

At their June 14, 2016 meeting, the Board of Trustees of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) made several revisions to the Systems' Funding Policies. These revisions were based on recent adjustments to the Systems' actuarial assumptions, and were made necessary by improved mortality rates and an expected continuation of the current low-return investment environment1. The goal is to help keep contribution rates steady while continuing to provide financial protection for retirees during periods of high inflation.

The amended Funding Policies state that in years when the Consumer Price Index for Urban Consumers (CPI-U) for the previous fiscal year is between 0% and 2%, no COLA will be given. A COLA will be provided in years when the CPI-U is 2% or more:

PSRS/PEERS COLA Policy
Change in CPI-U COLA
0% or less 0%
Between 0% and 2% 0%
Between 2% and 5% 2%
5% or more 5%

The Board voted to set the COLA at 0% during their September 7, 2016 meeting. This decision was based on the changes in the cost of living reflected by the CPI-U and the recommendation of the PSRS/PEERS actuary based on the CPI-U and the PSRS/PEERS Funding Policies. According to the U.S. Bureau of Labor Statistics, the increase in the CPI-U from July 1, 2015 to June 30, 2016 was 1.0%.

"The overall financial health and solvency of the plans for both current and future generations of Missouri public school educators and education employees is our primary goal," said Board Chairman Aaron Zalis. "While the Board understands and sympathizes with the current financial condition of many of our retirees and the impact the COLA decision has on each one personally, we feel the changes made to the funding policy were necessary to maintain the financial stability of the Systems."

PSRS service and disability retirees are eligible for COLAs on monthly benefits beginning the second January following their retirement date. For example, a PSRS member who retired July 1, 2016 is eligible for COLAs in January 2018. PEERS service and disability retirees are eligible for COLAs on monthly benefits beginning the fourth January following their retirement date.

1 For more information on recent changes to the Funding Policies, visit the PSRS/PEERS News Archive.

January 2017 COLA Set

At their June 14, 2016 meeting, the Board of Trustees of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) made several revisions to the Systems' Funding Policies. These revisions were based on recent adjustments to the Systems' actuarial assumptions, and were made necessary by improved mortality rates and an expected continuation of the current low-return investment environment1. The goal is to help keep contribution rates steady while continuing to provide financial protection for retirees during periods of high inflation.

The amended Funding Policies state that in years when the Consumer Price Index for Urban Consumers (CPI-U) for the previous fiscal year is between 0% and 2%, no COLA will be given. A COLA will be provided in years when the CPI-U is 2% or more:

PSRS/PEERS COLA Policy
Change in CPI-U COLA
0% or less 0%
Between 0% and 2% 0%
Between 2% and 5% 2%
5% or more 5%

The Board voted to set the COLA at 0% during their September 7, 2016 meeting. This decision was based on the changes in the cost of living reflected by the CPI-U and the recommendation of the PSRS/PEERS actuary based on the CPI-U and the PSRS/PEERS Funding Policies. According to the U.S. Bureau of Labor Statistics, the increase in the CPI-U from July 1, 2015 to June 30, 2016 was 1.0%.

"The overall financial health and solvency of the plans for both current and future generations of Missouri public school educators and education employees is our primary goal," said Board Chairman Aaron Zalis. "While the Board understands and sympathizes with the current financial condition of many of our retirees and the impact the COLA decision has on each one personally, we feel the changes made to the funding policy were necessary to maintain the financial stability of the Systems."

PSRS service and disability retirees are eligible for COLAs on monthly benefits beginning the second January following their retirement date. For example, a PSRS member who retired July 1, 2016 is eligible for COLAs in January 2018. PEERS service and disability retirees are eligible for COLAs on monthly benefits beginning the fourth January following their retirement date.

1 For more information on recent changes to the Funding Policies, visit the PSRS/PEERS News Archive.


Life Events

When life brings changes your way, it can also impact your PSRS/PEERS membership. Click below for more information.

A New Member

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Welcome! Create a Web Member Services account to stay informed about your membership.

Newly Married

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If you are recently married, it can impact your beneficiary designations.

A New Parent

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Birth or adoption of a child requires you to update your beneficiary designations.

Recently Divorced

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If you named your spouse as a beneficiary, divorce means you may need to update your beneficiary designations. Some divorced retirees may also have options for benefit increases, or "pop-ups."

Moving

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Keep your contact information up-to-date so we can communicate with you about your membership and ensure benefits are paid according to your wishes.

Ready to Retire

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Apply for service retirement online using Web Member Services, or using paper forms found on this website.

Leaving Your Job

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You have options when temporarily or permanently leaving covered employment.

A Working Retiree

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It is important to understand post-retirement work limits and how they may impact your benefit payments.

Benefits by County

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As of June 30, 2022, over 103,000 individuals received benefits from PSRS/PEERS. Total annual benefits paid were approximately $3.4 billion. Of this amount, approximately $3 billion, or 88%, was distributed among Missouri’s 114 counties, positively impacting the state’s economy.

PSRS/PEERS Funding

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PSRS/PEERS' funding comes from three sources, member contributions, employer contributions and investment earnings. Investment earnings are the primary source of funding for every dollar of PSRS/PEERS benefits paid.