This year, as usual, your IRS Form 1099R for filing your 2018 taxes will be mailed to you by Northern Trust. Northern is the company that processes the Police and Civilian Employees’ Retirement Systems monthly benefit payments.

Northern has advised us that 1099R’s for both retirement systems will be mailed to all retirees prior to January 31, 2019. While the Retirement System can request a duplicate form, Northern Trust charges the Retirement System for each duplicate 1099R we request. If you do not receive your 1099R by February 10, 2019 please contact the Retirement Office.

For those of you filing taxes in Missouri, below you will find additional information about Missouri’s Public Pension and Social Security Exemptions and Qualified Health Insurance Premiums. For those retired Police plan members who have their health insurance premium deducted from their monthly benefit check, below you will find a link to additional information about the IRS treatment of insurance premiums for retired public safety officers.

If you have any questions, please don’t hesitate to call the Retirement Office at 816 482-8138. 

Missouri Public Pension and Social Security Exemption

Retired members of KCPERS that are Missouri tax filers may be eligible to exempt a portion of their pension and/or Social Security income from Missouri income tax. To claim the pension and/or Social Security exemption on 2018 returns, Missouri tax filers will need to file using Form MO-1040, otherwise known as the long form, or Form MO-1040P, short form. If filing on Form MO-1040, you will need to complete the worksheet in Part 3 of Form MO-A and file it along with Form MO-1040. If you were age 62 by December 31, 2018 and received Social Security benefits, you will also want to complete the section for the Social Security exemption in Part 3. If filing on Form MO-1040P, the calculation of the pension and/or Social Security exemption is found on page 3 of that form.

Generally for 2018 tax returns, the pension exemption will be calculated as the amount of your taxable pension, limited to a maximum of $37,720 for each taxpayer, and then reduced by the amount of your nontaxable social security benefits, if any. The amount of your pension exemption may be reduced for married couples with Missouri adjusted gross income above $100,000 or for single taxpayers with Missouri adjusted gross income above $85,000. Your exemption is decreased by the amount your income exceeds the limit.

For more information regarding eligibility please contact the Missouri Department of Revenue at (573) 751-3505 or www.dor.mo.gov, or consult your tax professional.

Qualified Health Insurance Premiums

Missouri also allows a subtraction from federal adjusted gross income for qualified health insurance premiums. On 2018 tax returns, the subtraction is taken on Line 12 of Part 1 of Form MO-A and filed along with Form MO-1040. The Missouri Department of Revenue supplies a worksheet for Line 12 of Form MO-A which can be found in the MO-1040 instruction packet.

IRS Treatment of Insurance Premiums for Retired Public Safety Officers 

Retirement Board Election Update

The nomination period for the 2018 Retirement Board election ended on May 1. The terms of the three designated board seats held by Donna Jasper (Accounting), (Ret) P.O. Matt Tomasic, and (Ret.) Sgt. Gary Jenkins all expire in June. The candidates who filed for the three seats are Scott Hummel (Crime Lab) for the seat designated for a member of the Civilian Employees’ plan; Det. Chad Pickens (Narcotics & Vice Division) for the seat designated for an active member of the Police plan who has not attained the rank of Sergeant or above; and (Ret.) Deputy Chief Tom Mills for the seat designated for a retired member of the Police plan.

When only one candidate files for a board seat there is no balloting and the candidate shall be declared elected by the Retirement Board. The Retirement Board will certify the results of the election and swear in the new Board members at the June 14 Retirement Board meeting.