I don't think it's so black and white. In this case, the "punishment" isn't literal. It simply comes in the form of more grunt work, which people trust you with because you have taken it on before and did a good job with it. You may actually be rewarded too when the annual review comes, if you know how to spin it.
Furthermore, grunt work can be an excellent opportunity to shine. For example, you can figure out a way to automate it so that the next person who works on it (which may be you again) has to spend only a fraction of the time on it. Things like running reports or generating documents tend to lend themselves really well to automation, and a little programming ability can take you a long way.
So yeah... think twice before turning away grunt work, even if you believe that you may be given more of it in the future if you agree to take it on now.