MoDOT & Patrol Employees’ Retirement System
Annual Statement
When your annual benefit statement arrives, it can be easy to glance at the payment amount and move on. But your statement is meant to do much more than confirm one number.
It gives you a summary of how your benefit is paid, which deductions are taken, and the information MPERS currently has on file for you.
For retirees and beneficiaries, the statement is typically issued in the same month the annual cost-of-living adjustment is applied. It shows your prior benefit amount, your COLA increase, and your updated gross total, so you can see exactly how your payment changed and why.
The deductions section shows your gross benefit, applicable deductions, and net benefit after the deductions are taken out. Depending on your situation, deductions may include federal and Missouri state income tax, medical premiums, optional life insurance, dental premiums, or other items. Your benefit payment option also appears on the statement, which determines whether a survivor benefit would be paid after your death.
Tax withholding is worth reviewing annually as well. Your MPERS benefit is taxable income, and the statement reflects your current withholding elections. MPERS staff cannot provide tax advice, but if your situation has changed, this is a good time to consider whether your elections still make sense. You can update your federal and state withholding at any time through myMPERS.
Your annual statement is one of the best yearly check-ins available to you. Reading it carefully takes only a few minutes and gives you the chance to confirm everything is in order.