Alameda Correction Refunds Coming Soon
On August 31, 2022, SCERS mailed approximately 4,200 letters to active and deferred members regarding refunds and distribution options of overpaid retirement contributions. SCERS will begin processing refunds in approximately 30 days.
SCERS is returning retirement contributions on pay elements that can no longer be included in pension calculations, pursuant to the California Supreme Court decision in the case of Alameda County Deputy Sheriffs’ Association et al. v. Alameda County Employees’ Retirement Association and Board of Retirement of ACERA (Alameda).
In total, SCERS is refunding approximately $3 million in overpaid contributions, plus interest, to active and deferred members; the median refund is about $70. The chart below shows the distribution of refund amounts:
As part of the Alameda correction process, SCERS is finalizing its analysis of pension adjustments for retired members and is targeting October 2022 to send notices to retirees.