DRS issues pension payments on the last business day of each month. The date you receive your payment will depend on your financial institution. Here are the days payments will be issued this year:
2024 pension payment schedule
| Jan 31 | Feb 29 | Mar 29 | Apr 30 |
| May 31 | Jun 28 | Jul 31 | Aug 30 |
| Sep 30 | Oct 31 | Nov 29 | Dec 31 |
A COLA is an adjustment to your monthly benefit after you retire. The type of COLA you are eligible for depends on your retirement system and plan.
Visit the retiree COLA page for the latest COLA percentages and information about COLAs for your plan.
Are you looking for a pension verification letter for a mortgage, refinance, estate planning or senior housing? If you are collecting a pension, you can get this letter any time through your online account.
DCP and Plan 3 customers: Contact the DRS record keeper for access to verification of investment funds. Plan 3 includes two separate retirement incomes. You might need to collect your verification from two separate accounts: your pension account and your investment account.
How do you update your beneficiaries? To update your beneficiaries, complete this paper form—retired members are unable to designate pension beneficiaries online due to the complexity of survivor options. Your beneficiary would receive a lump sum of your contributions upon your passing (as well as your survivor’s passing if you named one). If you have a DCP account, you can update your DCP beneficiaries online.
How do you update your survivor? A survivor is someone you designate to receive a portion of your retirement benefit in the event of your passing. In most cases, you cannot change your survivor. If your survivor passes before you, you can have your benefit changed to the unreduced single amount. If you marry in retirement, you have a one-time option to add your spouse as a survivor between your first and second year of marriage (second and third year for retirees from the Washington State Patrol). Report these life changes to DRS.
Read more about the difference between survivors and beneficiaries.
If you retired as a public safety officer from a designated Washington state retirement system, you might be able to exclude up to $3,000 of your qualified health, accident and long-term care insurance premiums from your gross taxable income each year.
If you qualify, you might pay less in taxes because your gross taxable income will be lower when you report it to the IRS on your annual tax return.
If you answer yes to all three following questions, you likely qualify.
1. Are you a retired Washington state public safety officer?
Public safety officer includes agencies for which you served as a:
2. Did you retire at the normal retirement age or with a disability?
“Normal retirement age” is the age when you’re entitled to receive a full benefit. If you retired early, you don’t qualify unless you received a disability retirement.
3. Do your health insurance premiums qualify?
To qualify, your premiums must:
If you’re not sure if you qualify, or if you have questions, contact the Internal Revenue Service or your tax advisor. Keep in mind that DRS team members are not allowed to offer tax advice.
If you choose to participate, your monthly federal tax withholding will not change.
For more information about the federal programs that provide this benefit (the Pension Protection Act of 2006 and Secure Act 2.0), contact the IRS.
LEOFF 1 Coalition – Serves retired law enforcement officers and fire fighters
407 West Bay Drive
Olympia, WA 98502
877-553-6631 or 360-570-1035
Fax: 360-943-7086
Contact: Joyce Wilms
Retired Firefighters of Washington (RFFOW) – Serves retired LEOFF Plan 1 fire fighters
15310 163rd Court SE
Renton, WA 98058-8122
425-226-3793
Retired Public Employees Council of Washington (RPEC) – Serves retired state, county, city and local government employees
906 Columbia St SW, Ste 501
Olympia, WA 98501
800-562-6097 or 360-352-8262
Fax: 360-352-0354
RWSPEA – Secretary/Treasurer
PO Box 127
Greenacres, WA 99016
PO Box 9100
Federal Way, WA 98063-9100
800-622-3393 or 253-941-6700
1069 Adams St SE
Olympia, WA 98501
360-943-3030
PO Box 1805
Sumner, WA 98390
800-826-1974
4726 Pacific Avenue SE
Lacey, WA 98503
800-544-5219 or 360-413-5496
Fax: 360-413-5497
