Information on Benefit Payments
Monthly Benefit Payment Updates
2012 Benefit Payment Schedule (Direct Deposits and Checks)
Monthly Benefit Payment Updates
One of our primary responsibilities at Colorado PERA is to pay monthly benefits to retirees and benefit recipients. Listed below is information about monthly PERA benefit payments that may be helpful to you.
February 2012
Disability Offset Mailing for Disability Retirees
Any disability retiree with a disability retirement effective on or after July 1, 1988, and whose application for disability retirement was received by Colorado PERA prior to January 1, 1999, will receive information from Colorado PERA in February regarding their 2011 allowable earnings. The reporting of any excess earnings for the calendar year 2011 must be submitted to Colorado PERA by April 30, 2012.
January 2012
Tax Withholding Tables
New federal tax tables went into effect with the January benefit payments to benefit recipients under both the PERA and DPS benefit structures. The implementation of these new tax tables may cause a change to your federal withholding amount effective this month.
PERA encourages all benefit recipients to check your federal tax withholdings and determine if you need to modify the amounts being withheld.
Please review the Taxes on PERA Benefits brochure for more information.
Replacement Benefit Arrangement (RBA) Information
New Internal Revenue Code Section 415(b) limits go into effect as of January 1, 2012. All Replacement Benefit Arrangement recipients along with their former employers should receive information regarding their new 2012 payment amounts this month.
2011 Monthly Benefit Payment Updates
2012 Benefit Payment Schedule (Direct Deposits and Checks)
January 31
February 29
March 30
April 30
May 31
June 29
July 31
August 31
September 28
October 31
November 30
December 31
Lost/Late Checks
- Call PERA if you have not received your PERA benefit check within five business days from the payment date.
- PERA will mail you a Lost Check Certification that you must sign and return to PERA before we can re-issue your benefit check; this process takes about two weeks.
Direct Deposit (EFT)
- Colorado PERA benefits are payable to benefit recipients only; we are unable to issue funds to a trust, money market, managed fund, or brokerage firm.
- Complete the Authorization for Direct Deposit of Benefit form to sign up for direct deposit (you may print the form from PERA’s Web site or call PERA’s Customer Service Center to request a form be sent to you).
Making Changes
- PERA must receive any changes for benefit checks/electronic deposits by the 15th of the month to ensure that the change will be made for the benefit paid at the end of that month.
- Except in cases of identity theft or fraud, PERA recommends that you not close the existing account until you have verified that funds are being deposited into the new account.
- Direct deposits must be changed using the Authorization for Direct Deposit of Benefit form; be sure to completely fill out and sign the form. If you have a benefit check mailed to your home address, all address changes must be made in writing.
- Federal and Colorado state tax withholding must be changed using the Withholding Preference Form located in the back of the Taxes on PERA Benefits brochure. Be sure to completely fill out and sign the form. You may also change your withholding online using your PERA PIN/User ID and password. The IRS Form W-4 is not acceptable to change tax withholding designations.
- If you reside outside Colorado, you should review your current tax withholding designations. Any previously designated Colorado tax withholding deductions will continue until a Withholding Preference Form is received.
View EFT Statements/Check Stubs Online
- You may view and print an electronic version of your most recent EFT benefit statement (or check stub) online using your PERA PIN (select “Benefit Statement” under the Inquiry drop-down menu once you are logged on to your PERA account).
- A copy of your most recent statement will display. (You may view your last 12 months of statements.)
- You may print the information by selecting the PDF tab.
Address Changes
- Your mailing information must be kept current in your PERA file to ensure you receive benefit payments, tax information, and other important information.
- If you have a benefit check mailed to your home address, all address changes must be made in writing.
- If you receive your benefit through EFT, address changes can be made by calling PERA’s Customer Service Center or by logging on to your account with your Social Security number and PERA PIN/User ID and password.
Deduction Codes
View the list of abbreviations Colorado PERA uses when deductions are taken out of your monthly PERA benefit.