1099-R In January, the Office of the Comptroller mails IRS Form 1099-R for 2020 SERS benefit payments to all annuitants and survivors. These payments must be reported on IRS Form 1040 under the Income section (Pensions and annuities).
Newsletters providing annuitants and beneficiaries with information and policy changes.
Forms
Fact Sheets
Form 101 |Nomination of Beneficiary This form is used to designate beneficiaries to receive any lump-sum death benefits payable from the State Employees Retirement System (SERS) in the event of your death.
Form 501 |Change of Information This form is used when a member needs to change their information with SERS, such as a change of address or a name change.
Form 3867 |Direct Deposit Account Change This form is used when a member needs to update their direct deposit to a new bank account number, while keeping the same bank and routing number.
Form 3967 |Direct Deposit This form is used to set up Direct Deposit for a member's benefit payments (for a new bank).
Form 3965 |Illinois State Income Tax Withholding This form is used to withhold state taxes from a member's benefit payments (Optional, please note all SERS benefits are state tax exempt.)
Federal Income Tax Withholding
If you need to change the amount of your federal tax withholding, you must submit a new W-4P to SERS. The new W-4P may be submitted at any time throughout the year.
You should contact a qualified tax advisor or an IRS representative at 800-829-1040 with questions about your taxes, including withholdings.
Taxation of Your Retirement Annuity Illinois law exempts all SERS benefits from state income tax. However, benefits are subject to federal income tax. If your federal tax withholding information is not on file with SERS, taxes are withheld using the rate for a married person with three exemptions.
Each year, the Comptroller’s office is required to send you a 1099-R form showing the total annuity amount you received during the past year, as well as any taxes withheld.
Please visit the MyBenefits website to make enrollment decisions, view/change current coverage, and find plan administrator information. For further assistance please contact MyBenefits, Monday through Friday (8am-6pm CST), at 844-251-1777.
For assistance with Medicare, please contact the CMS Medicare Unit at 217-782-7007.
First Retirement Annuity Payment SERS processes your first annuity payment after we receive your pension application and other required information from your agency. The normal processing time is 8-10 weeks from the date you leave service.
The first annuity payment will either be mailed to your home or electronically deposited into your account by the Comptroller’s office. You will also receive a Notice of Preliminary Retirement Annuity Approval letter, which contains information about your pension.
Future Retirement Annuity Payments Future annuity payments are mailed on the 19th of each month, unless the 19th is on a weekend or holiday, when they are mailed on the last working day before the 19th. If your payment is mailed directly to your home, allowing 30 days for delivery.
If you have not received your payment after the 30 days, call SERS. Failure to advise SERS of an address change may result in a delayed payment.
Increases for Retirees (Tier 1) SERS retirees receive a 3% increase to their pensions on January 1 following their first full year of retirement, or age 60, whichever is later. Future increases of 3% of your current pension will also be made each January 1 thereafter. Future increases are not limited by the 75% maximum.
If you retired using the Rule of 85, you are eligible for your first increase on January 1 following your first full year of retirement, even if you are not age 60. If you retired under the alternative formula, you will receive a 3% increase to your pension on January 1 following your first full year of retirement or age 55, whichever is later. Future increases are not limited by the 80% maximum.
If you chose the COLA buyout option when you retired, the 1.5% increases are applied on January 1.
Contact the State Employees' Retirement System Contact our call center at 217-785-7444, Monday through Friday, 8:00 a.m. to 4:30 p.m. or email SERS@srs.illinois.gov for questions about:
Overpayments for Disability/Pension/Survivor
Annuity/ARCP Benefits
Incorrect Insurance Premium Deductions
Dependent Deaths
Opt Out Financial Incentive
W2-GI+
Reciprocal Retirement Systems Service
Address Discrepancy Regarding Insurance
Change of Address/Name Requests
Income Verifications
Member Fraud Alerts
POA/Guardianship/Executor/Trust Inquiries
Taxes and Other Deductions
1099Rs
Contact MyBenefits Contact mybenefits.illinois.gov or the MyBenefits Service Center (toll-free) (844)251-1777 or (TTY toll-free) (844)251-1778, Monday through Friday, 8:00 a.m. to 6:00 p.m. CST for questions about:
Changing/Opting out of Health Coverage
Making Changes to your MAPD Plan
Amounts of Coverage & Requests to Increase/Decrease
Life Insurance
Adding/Dropping Dependents
Insurance Premiums
Contact the Illinois Department of Central Management Services (CMS) Contact the CMS Medicare Unit – (217)782-7007, the CMS Member Services Unit – (217)558-4486, the CMS Premium Collection Unit – (217)558-4783, or CMS General (toll-free) – (800)442-1300 for questions about:
Medicare
Insurance Claims
Insurance Premium Payments for Leave of Absence
Contact Minnesota Life/Securian Financial Contact Minnesota Life/Securian Fiancial at (toll-free) (888)202-5525 or (TDD/TTY) (800)526-0844 for questions about:
