2015 News

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Cost of Living Adjustment

The cost of living adjustment referred to as COLA will be reflected in the July check for all retirees who have been retired one full year as of July 1st. For retirees who retired under the Retirement System or retired on or before July 1, 2011, the COLA will be 1.622%.

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2015 Employees’ System Trustee Election

Beginning on May 19, 2015, eligible members and retirees of the Employees’ Systems (Correctional Officers’ Retirement System, Employees’ Retirement System, Employees’ Pension System, Judges’ Retirement System, the Legislative Pension Plan, the Local Fire and Police System and the Law Enforcement Officers’ Pension System) will have the opportunity to cast their vote in the 2015 Employees’ Systems Trustee Election. This election will utilize the State Retirement Agency’s electronic voting process.

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Understanding Your 1099-R Tax Form

Internal Revenue Service tax form 1099-R will be distributed to all Maryland State Retirement and Pension System payees by the end of January 2015. The forms provide each payee with detailed information on his or her pension income for the previous year.

Most payees receive only one 1099-R tax form each year. However, persons who retired in 2014 will receive a separate 1099-R tax form for any additional refunds they received, such as a refund of voluntary annuity contributions.