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Frequently Asked Questions

Where is my monthly pension check? I always have it by this time ever since I retired. Are they late?
What is the status of my refund? Why is it taking so long?
I received my tax form and this is not the amount I have been paid.
Why did I receive more than one Form 1099-R?
I have a power of attorney for my mother, why isn't it on file?
When will I receive a Cost-of-Living Adjustment (COLA)?
I have some questions regarding my health insurance?
Where can I find information about the pension reform legislation (Act 120)?
TE-TF Additional Resources

 

Q: Where is my monthly pension check? I always have it by this time ever since I retired. Are they late?

A: PSERS pays pension benefits by the last business day of each month once a member is on regular payroll status.  PSERS has mandatory direct deposit for its retirees with very few exceptions.  Payments sent via electronic transfer are available in your account by 9:00 AM on the last business day of the month.  If direct deposit is rejected by your banking institution then PSERS will reissue the payment via paper check if new direct deposit information is not received (allow up to three weeks for reissuance).  If receiving your benefit by paper check, PSERS schedules your check to be mailed by the last business day of the month.  Because we are a State Government agency, all payments are made by the Pennsylvania Treasury Department.  They will not consider a check late or missing until after the 10th of the following month.  This allows time for delivery by the post office .  Obtaining a replacement after the 10th takes approximately 3 weeks. 


Q: What is the status of my refund? Why is it taking so long?

A: Every member account is exclusive and needs to be reviewed, audited, calculated and processed - based on information supplied to us by your employer(s).  Unfortunately, there are times when errors in reporting or posting have occurred and adjustments are necessary.  Normal processing for a refund takes approximately 3 to 4 months from the date the application was received, providing there is no missing or unclear information on the Application For Refund.


Q: I received my tax form and this is not the amount I have been paid.

A: Your Form 1099-R tax form lists the "Gross Distribution."  This is the amount before any deductions are taken from your check.  You may be comparing this figure to the "Net" amount that you actually received.


Q: Why did I receive more than one Form 1099-R?

You may have received more than one Form 1099-R because the Internal Revenue Service (IRS) requires separate forms for each type of payment (distribution code).  For example, during the same tax year, you received a monthly benefit and a partial lump-sum payment requiring the use of two different distribution codes.  Separate distribution codes require separate 1099-Rs.  Below are applicable IRS distribution codes used for the 2006 Tax Year:

Code

1     Early (premature) distribution, no known exception.  (You are required to file IRS Form 5329, Additional Taxes on Qualified Plans and Other Tax-Favored Accounts.)
2     Early (premature) distribution, exception applies.  (You are not required to file IRS Form 5329.)
4     Death.  (You are not required to file IRS Form 5329.)
7     Normal distribution.  (You are not required to file IRS Form 5329.)
A     May be eligible to elect to use IRS Form 4972.
G     Direct rollover.  (You are not required to file IRS Form 5329.)