A Message from Our Executive Director

COVID-19 Update:

• The DERP office remains closed to the public until further notice.
   
• The 2020 1099-R tax form is available to download and print on the Member Self-Service Portal.
   
• February, 2021 retirement payments will be deposited on Monday, February 1, 2021, the first business day of the month. Physical benefit checks will be mailed on Monday, February 1, 2021.
   
• DERP will not mail out direct deposit advices for the February, 2021 benefit payment. Advices can be downloaded and printed from the Member Self-Service Portal.
   
• Most DERP-related business can be handled via the Member Self-Service Portal, email (mbrsvs@derp.org) or phone (303) 839-5419.
   
• The DERP Membership Services team is working remotely, and calls are answered Monday through Friday between 8 a.m. and 5 p.m. If you call outside of business hours, leave a message and your call will be returned the next business day.

Dear DERP Member,

As we all prepare to begin a new year there are a few items we want to bring to your attention: 

• Medical insurance premiums – Premiums for medical insurance plans will change with your January benefit payment. If you are enrolled in a medical plan through DERP, your benefit may be different than what it was in December. Make sure to review your direct deposit advice for details or review the 2021 Retiree Health Benefits Guide.
   
• Federal tax tables – The Internal Revenue Service (IRS) recently released the federal tax tables for 2021. As a result of the Tax Cuts and Jobs Act, the IRS has discontinued tax allowance exemptions and you may see changes in the amount of your federal tax withholding. If your tax allowance exemptions in 2020 was between one and 12 it will be reduced to zero as of the January 2021 retirement benefit and more federal taxes will be withheld.

• Colorado state tax – The Colorado state tax rate has been reduced from 4.63% to 4.55%. Additionally, the state has also discontinued the use of tax allowance exemptions. These changes may impact the amount withheld from your benefits.

You can update your federal and/or Colorado tax withholding preferences via DERP’s Member Self-Service Portal, www.myderp.org. Instructions for updating your taxes can be found here.