News
November Board Minutes
Minutes for the November 13, 2025, 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
MFPRSI Newsletter
MFPRSI's latest newsletter, MFPRSI Update, is now available. MFPRSI Update is published twice each year by MFPRSI. The latest issue was published in December 2025 and includes a profile on Eric Snyder, board member, 2026 Outreach calendar, and an article announcing Senior Pension Officer Kathy Fraise's retirement at the end of January 2026.
Click this link to view it on our Publications page.
Box 5
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 …
2025 Audit and Actuarial Reports
Municipal Fire and Police Retirement System of Iowa’s 2025 Audit Report and 2025 Actuarial Report are now available. The audit report is comprised of the statements of fiduciary net position, the statements of changes in fiduciary net position for the two most recently completed fiscal years. The related notes to the financial statements are also included in this report.
The actuarial report is used to determine the normal contribution rate payable by the participating cities, as well as the …
July 1 Contribution Rate Changes
Effective July 1, 2025, the participating city’s contribution rate for the Iowa Code Chapter 411 retirement plan will be 22.555% of earnable compensation and the member contribution rate will be 9.675% of earnable compensation.
Previously, the rate of contribution for participating cities starting July 1, 2025, was reported to be 22.68%. The new contribution rate is established by the passage of House File 969 (HF 969) by the Iowa General Assembly and signing by Governor Kim Reynolds. HF …
1099-R Box 5 Guidance
Each January MFPRSI sends 1099-R forms to its members and beneficiaries receiving taxable benefits. This form is used to report distributions from MFPRSI and it displays several pieces of useful information for reporting personal annual taxes to the IRS and state government.
The 1099-R form may include an amount in Box 5. The heading of Box 5 states, “Employee contributions/Designated Roth contrib. or insurance premiums.” For MFPRSI purposes, however, Box 5 represents the member’s/beneficiary’s after-tax contributions recovered tax free …