FEDs for Retirees: The funds for the Favorable Experience Dividend (FED) payments were depleted with the January 2014 payment. Therefore, IPERS does not expect to make any additional FED payments in the foreseeable future. By law, IPERS cannot transfer additional funds to the FED Reserve Account until the Trust Fund is 100 percent funded. IPERS is on track to be 100 percent funded, but that will not occur for many decades.
Lump Sum Refunds: The last refund payroll of 2014 was issued on December 12, and included refunds for applications received by December 10. Refunds for applications received after December 10 will be processed and paid the first week of January.
1099Rs: If you received a pension distribution from IPERS in 2014, IPERS will mail you a Form 1099-R for tax purposes by January 31, 2015.