News
Board August Flash
A flash report for the August 16-17, 2023, Board of Trustee meeting is now available. The flash report provides a brief summary of both the topics discussed and motions passed at the May board meeting.
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Career Opportunity
Searching for a satisfying career opportunity? Consider MFPRSI!
MFPRSI provides comprehensive retirement and disability benefits to eligible municipal police officers and firefighters in the state of Iowa. We are a defined benefit plan servicing approximately 4,000 retirees and beneficiaries with monthly benefits. We strive to maintain efficiency in our processes, utilize a collaborative team structure, and deliver the best customer service possible.
Currently, we are looking for the perfect candidate to assume the role of pension officer. If you ...
June Board Minutes
Minutes for the June 22, 2023, Board of Trustee meeting have been ratified by the Board and are now available. Please select the link below to view minutes for meetings that have occurred over the past twelve months.
Board of Trustee meeting minutes
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1099-R Box 5 Guidance
Every year in January MFPRSI sends 1099-R forms to its members receiving taxable benefits. This form is used to report distributions from MFPRSI, a retirement plan, to its members. The form will display several pieces of information that are useful (e.g., gross amount paid by the retirement plan, taxable amount distributed by the retirement plan, federal and state taxes withheld, etc.) for reporting personal annual taxes to the IRS and state government.
Each individual receiving a taxable benefit from ...
2023 Iowa Tax Withholding Update
Effective beginning with the January 2023 benefit payments, MFPRSI will stop withholding Iowa income tax for beneficiaries exempt from withholding under the Iowa income exclusion law.
On December 5, 2022, the Iowa Department of Revenue released updated Iowa income tax withholding guidance for House File (HF) 2317. The Iowa General Assembly ratified, and Governor Kim Reynolds signed, HF 2317 on March 1, 2022. HF 2317 excludes most retirement income from state taxable income for eligible taxpayers for tax years beginning ...