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2023-24 Contribution Rates to be Adopted at SCERS Board Meeting

At its Wednesday, December 7 meeting, the SCERS Board of Retirement will be reviewing the actuarial valuation and adopting contribution rates for the next fiscal year. The aggregate employer contribution rate is dropping from 31.74% of payroll to 31.12% of payroll for 2023-24 fiscal year.

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Alameda Refund Update

SCERS is now distributing overpaid retirement contributions to current and former County employees for pay elements that can no longer be included in pension calculations.

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Next Phase for Alameda Correction Refunds

SCERS is conducting the next phase of the Alameda correction project and is sending notices to approximately 400 retired members who are owed refunds on overpaid contributions but do not require a further adjustment to their pension allowance.