Board of Retirement Meeting Information: January 8, 2021, 9:00 AM.
Materials: Meeting Agenda and Materials
Location: https://us02web.zoom.us/j/83575077889; or Call (669) 219-2599; Meeting ID 83575077889#
Alameda Decision: New Pay Type Exclusions Considered (updated 01/04/2021)
At its January 8, 2020 meeting, the Board of Retirement will consider the Alameda Decision Ad Hoc Committee's recommendations regarding exercising the Board's discretionary authority to refine their determinations of compensation earnable and pensionable compensation. For more information, review the January 8 meeting materials. The agenda also provides a link to attend the meeting and instructions for how to raise your virtual hand to provide public comment.
Importantly, of SJCERA's more than 500 earnings codes, the Committee recommends changes to only 16. Further, if the Board exercises its discretionary authority to revise the retirement eligibility of any or all of those 16 pay types, the Committee recommends the changes be implemented in a manner intended to reduce or eliminate the impact on current employees. Specifically, the Committee recommends the Board apply the changes to earnings codes on Attachment A of the materials only to future final average compensation (FAC) periods, and apply the changes to earnings codes on Attachment B only to new (and returning) employees hired on or after a date to be determined by the Board.
Any decision about the retirement eligibility of earnings codes made at the January 8 meeting, will be in addition to the Board's October 15, 2020 decision to exclude Stand-by Pay, Correctional Briefing Pay, and Employer Contributions to Deferred Compensation on the Member's Behalf. If you are affected by the October 15 decision, SJCERA sent a letter to the address SJCERA has on file for you. If you are eligible for a return of contributions on any of these pay types, SJCERA anticipates beginning those repayments (with interest) the summer of 2021. For more information about the Alameda Decision and the Ad Hoc Committee that has been established to review additional earnings codes, visit SJCERA's Alameda Decision Information page.