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Board of Retirement Meeting Information: April 9, 2021, 9:00 AM.
Materials: Meeting Agenda and Materials
Location: https://us02web.zoom.us/j/88972762715; or Call (669) 219-2599 or (669) 900-9128; Meeting ID88972762715#

National Retirement Planning Week
The time to plan for retirement is now! Start by registering for SJCERA's May 6, 2021 virtual seminar entitled, "Understanding Your Retirement".

Pension Administration System (PAS) Consulting Services RFP Issued
SJCERA seeks proposals from qualified PAS consulting firms interested in performing PAS consulting services. All correspondence related to this RFP should be directed to WritingPASRFP@sjcera.org.

A summary of key deadlines:

  April 8, 2021   Responses to Questions from Proposers
  April 29, 2021, 4:00 p.m.   Due date for submission of proposals

For more information read the Pension Administration System Consulting Services (RFP # 2021-03)

Cybersecurity Auditing Services RFP Issued
SJCERA seeks proposals from qualified cybersecurity firms interested in performing cybersecurity services. All correspondence related to this RFP should be directed to CyberSecurityRFP@sjcera.org.

A summary of key deadlines:

  April 2, 2021   All responses to the RFP questions have been directly emailed to the proposers in lieu of posting them on the website
  March 26, 2021, 4:00 p.m.   Letter of Intent to Bid and Proposer's Questions due
  April 23, 2021, 4:00 p.m.   Due date for submission of proposals

For more information read the Cybersecurity Auditing Services (RFP # 2021-02)

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 and responses:

  March 11, 2021   Please click here for Responses to Questions from Proposers
  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 3/15/2021)
The California Supreme Court Alameda decision requires SJCERA to exclude from retirement benefit calculations stand-by pay, correctional briefing pay and employer contributions to deferred compensation. As of March 1, all retired members' monthly benefits have been adjusted to exclude employer-paid deferred compensation contributions and standby pay. Benefit adjustments related to the exclusion of correctional briefing pay are expected to be completed as of the April or May retirement benefit payment. Staff is working with affected members to establish reasonable repayment plans where appropriate.

As soon as SJCERA has completed its work on retired members' accounts, staff will then begin calculating Active and Deferred members' overpaid contributions on the three excluded pay types. Currently, staff estimates repayment of overpaid contributions to Active and Deferred members could begin by late summer 2021.

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