Taxes
- 1099-R Tax Form: If you’ve opted to go paperless, we will email you in early January when your 1099-R or W-2 is ready. If you didn’t opt out, you will continue to receive your paper tax statements by mail.
- Tax Withholding: The IRS released a revised Form W-4P effective in 2023 that changed the federal tax withholding elections available and the calculation method that we use to determine the amount to be withheld. If you’re already receiving your pension and are not making any changes to your federal withholding elections, then you’re not required to file a new form. A tax advisor can help you decide if you should make any changes to your tax withholding elections for your 2025 benefits.
Health Care
- Health Premium: The 2025 health plan premiums will go into effect on January 1. Log in to your myCalPERS account to view your specific health plan details.
- Medicare Part B Premium Reimbursement: If you’re a state or California State University retiree enrolled in a CalPERS Medicare plan, and you pay above the standard Medicare Part B premium, you may be entitled to a reimbursement.
Retirement Checks
- Direct Deposit Statements: If you have direct deposit, you have two options to access your retirement check details anytime, anywhere, and on any device.
- Automated Phone System: Call us at 888 CalPERS (or 888-225-7377), 24 hours a day, seven days a week to access your retirement check details. Once authenticated, you’ll be able to hear the most current month’s gross and net payment amounts, and a detailed list of your payroll deductions.
- Mobile Device: Though our myCalPERS Pay Warrant app, you can view your current and past retirement checks in a convenient, secure, and flexible way.
- Don’t have direct deposit? You can sign up any time. To enroll online, log in to myCalPERS, go to the Retirement tab, and select Payment Options.
- Retirement Check Statements: You can always view your benefit statements in myCalPERS and see the amount deposited in your account each month, along with any itemized reimbursements or deductions.
- Pay Dates 2025: The State Controller’s Office issues checks and determines mailing dates. You can download the 2025 Pay Days for CalPERS Retirees and Beneficiaries (PDF) calendar or view the 2025 pay dates online. Your December direct deposit will post on January 2, 2025, which is always dated the first day of the new year.
- Cost-of-Living Adjustment (COLA): Typically, this benefit begins the second calendar year of retirement, although the annual rate of inflation and retirement law could affect the onset of your COLA. Retirees receive an annual COLA paid in the May 1 warrant of each year. More details will be available on our website in spring 2025.