What's new

 

6.75 Percent Assumed Rate of Return Adopted
The Board of Retirement voted to lower the assumed rate of return from 7 percent to 6.75 percent. By lowering the assumed rate of return, the Board increases the probability the adopted asset allocation will generate returns that meet or exceed the assumed rate and the likelihood that SJCERA's funding progress will continue to improve over time. While the demographic assumption changes more than offset the cost of lowering the assumed rate of return on the whole, a few employers and employee groups may see a slight increase in their 2023 contribution rates because the demographic assumption changes affect different groups differently.

2023 Contribution Rates to Board for Approval September 9
SJCERA's actuary will present the final January 1, 2022 Actuarial Valuation at the September Board meeting, which includes the 2023 member contribution rates.

Members with Valley Strong Accounts - No Action Needed
SJCERA is working directly with Valley Strong Credit Union during this transitional period to minimize the effect on our members. Your monthly benefit payment will continue to be deposited using your new account number without disruption. Previously established FCCU deductions, such as account transfers, deductions to savings or loan payments will also continue to occur without action needed from members.