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As of October 31, 2021, the Fund had a value of $6.12 Billion, and the year-to-date return was 15.8%, net of fees.
Please be sure to retain all of your pay stubs, especially your December check stub or direct deposit advice. This statement summarizes your monthly annuity pay and deduction amounts for the calendar year. For example, you will see that all of your health insurance premiums paid for the year are found under the “Year-To-Date” column on your stub/advice. You may need this information when completing your tax return since health insurance deduction totals are not included on your 1099R form.
IMPORTANT: If you receive a benefit, which is not taxable and, therefore, not reportable on a form 1099R, such as a duty disability or accidental death annuity, this year-end statement will be the only record you will have of your payments. You will not receive a 1099R form; please refer to your final pay stub for this information.
Every December, the ERS calculates the rate to be used to determine COLA factors granted to most protective service members based on the Consumer Price Index – All Urban Consumers (CPI-U). In November of 2021, the index was 277.948 as compared with 260.229 in November of 2020, an increase of 6.8090%; however, increases are capped at 3%. Accordingly, COLA increases granted in calendar year 2022 to those protective service members whose COLA is determined by the CPI-U will be 3.0%.
The CPI COLA is calculated using the Consumer Price Index – All Urban Consumers data. The CPI statistics can be found on the U.S. Department of Labor Statistics website: http://data.bls.gov/cgi-bin/surveymost?cu
The flu is a contagious illness caused by influenza viruses that affects millions of people each year and can lead to serious illness. The Center for Disease Control and Prevention (CDC) advises that the best way to prevent the flu is by getting vaccinated each year.
Q: Where can I get my flu shot and is it covered?
A: IF YOU HAVE CITY PLAN COVERAGE WITH UHC, FLU SHOTS ARE COVERED AT 100% with no co-pay, co-insurance or deductible (as part of preventive services under the Affordable Care Act). There are several ways retirees covered under UHC Choice and UHC Choice PLUS plans can obtain this year’s flu vaccine. UHC Choice/UHC Choice PLUS members should visit their doctors or other in-network providers. Please note that if members are seeing a provider for a non-preventive visit, they will be charged for the visit, but not the flu shot. A member may also visit a network Convenience Care Clinic, select retail pharmacy like Walgreens, CVS, Target, etc. or contracted flu shot providers. If you need additional information, please contact UHC’s customer service department at 1-800-741-8786.
You are a member of the ERS, and membership has its privileges. One of those privileges is access to the portion of our website that is all about you. We call it ERS Member Self Service. Click here for more details.
Other recent news can be found on the most recent newsletter.
Other important information can be found on our Frequently Asked Questions page.
Last Update: 12/29/2021