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Board of Retirement Meeting Information: February 12, 2021, 9:00 AM.
Materials: Meeting Agenda and Materials
Location: https://us02web.zoom.us/j/81714763309; or Call (669) 219-2599; Meeting ID 81714763309#

Actuarial Auditing Services RFP Issued
SJCERA seeks proposals from qualified actuarial firms interested in performing actuarial auditing services. All correspondence related to this RFP should be directed to ActuaryAuditRFP@sjcera.org.

A summary of key deadlines:

  March 5, 2021, 4:00 p.m.   Letter of Intent to Bid and Proposer's Questions due
  April 9, 2021, 4:00 p.m.   Due date for submission of proposals

For more information read the Actuarial Audit Services (RFP # 2021-01)

1.5% COLA Approved for Retirees
On February 12, the Board of Retirement approved a 1.5 percent Cost-of-Living Adjustment (COLA). If you retired on or before April 1, 2019, you have accumulations in your COLA "bank" that are used to increase your COLA. COLA increases will be on your May 1 benefit payment.

 
Retirement Date
 
2021 COLA
  4/2/2019 - 4/1/2021   1.5%
 
4/2/1988 - 4/1/2019
  2.5%
  On or before 4/1/1988   3.0%


Alameda Decision (Updated February 19, 2021)
Retiree Benefit Adjustments: Of the 127 retirees receiving benefits that need to be adjusted as a result of the Alameda decision, SJCERA has completed approximately 30 percent of the benefit adjustments. As part of the process, staff verify that the new benefit is calculated on the highest final average compensation (FAC) period after the ineligible pay types have been removed. If you are one of the 127 affected retirees, SJCERA has already sent you notification that you are affected. SJCERA will mail you another letter with your new benefit amount before you receive the first revised payment.

Alameda Decision Ad Hoc Committee: Having completed its review of the earnings codes, the Board of Retirement's Alameda Decision Ad Hoc Committee was disbanded at the February 12, 2021 Board of Retirement meeting.

For more information about the Alameda Decision, visit SJCERA's Alameda Decision Information page.