On March 4, Governor Newsom declared a state of emergency in connection with the COVID-19 pandemic and subsequently issued Executive Orders N-25-20 and N-35-20 to ensure adequate staffing in state and local government to respond to the emergency.
The Executive Orders suspend state laws that require a 180-day sit-out period for new retirees before returning to work and the 960-hour annual limit on work hours for retirees who are serving their former employers.
During this difficult time, we are aware that many of our members may have concerns and questions about the implications of the COVID-19 pandemic to your long-term retirement plans.
The health and well-being of our members is of the utmost importance and our goal is to continue to provide the same level of services as under normal conditions. However, these processes will require some modifications.
The SCERS pension fund is on solid footing to pay out benefits for decades to come, with a low probability of falling into financial distress, according to a new report presented to the Board of Retirement in February 2020.