Check your mailbox for your 2024 1099-R
If you are receiving a benefit from KCPERS (the Police Retirement System of Kansas City, MO or the Civilian Employees’ Retirement System of the Police Department of Kansas City, MO), you are receiving a Public Pension.
Your pension payments from KCPERS are taxable at both the Federal and State level. You can change your elected tax withholdings at any time by submitting a new tax withholding form or the completed tax withholding section on your monthly statement to the KCPERS office.
Your IRS Form 1099R for filing your 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. 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, 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.
Public and private sector defined benefit pension fund payments added $224.3 billion in tax revenue to the U.S. economy in 2022, according to the National Institute on Retirement Security. Research Quantifies the Broad Economic Impact of Pension Payments | PLANSPONSOR
President Joe Biden has signed the Social Security Fairness Act, repealing the Windfall Elimination Provision and Government Pension Offset, ensuring retired law enforcement officers receive their full earned Social Security benefits.
The Social Security Fairness Act, aiming to repeal the Windfall Elimination Provision and Government Pension Offset, awaits President Biden's signature after passing both the House and Senate.