Payment of Your Benefit

Because PSRS is a Defined Benefit (DB) plan, your retirement benefits are paid to you for life, no matter which benefit plan you choose. Your benefits are eligible for cost-of-living adjustments (COLAs) and are subject to federal and MO state income taxes, if you live in Missouri.

Your monthly benefit payments are made by direct deposit on the last working day of each month starting in the month your retirement becomes effective, and are available for use on that date.

2021 Direct Deposit Schedule
Payment forWill be deposited
JanuaryJanuary 29
FebruaryFebruary 26
MarchMarch 31
AprilApril 30
MayMay 28
JuneJune 30
JulyJuly 30
AugustAugust 31
SeptemberSeptember 30
OctoberOctober 29
NovemberNovember 30
DecemberDecember 30

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Making Changes to Your Direct Deposit

You can change your monthly direct deposit to a different account anytime: