Important Notices COLA and Misc
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2018
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2017
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Incorrect Reporting Information for Retirement Benefit Payments
Regarding "Payment advice"
Please note that the February 29, 2016 ‘payment advice’ received by certain retirees and beneficiaries regarding the direct deposit of their monthly benefit payment may have contained some incorrect information. The problem is limited to those retirees and beneficiaries whose monthly benefit payment includes a separate deposit or deduction for the Sacramento Credit Union (SCU). Instead of showing the amount of the SCU direct deposit and the amount(s) deposited into another bank account, the payment advice only reported the amount of the SCU direct deposit. This was a
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2016
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2015
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2014
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Important Notice Regarding the Retiree Cost-of-Living Adjustment (COLA) – 2013
The retiree cost-of-living adjustment (COLA) is governed by Section 31870 of the County Employees ‘ Retirement Law of 1937 (1937 Act). Under that section, the SCERS Board must determine the appropriate COLA for SCERS retirement benefits and implement that COLA on April 1st each year. Pursuant to the law, the COLA is based on the annual change in the U.S. Department of Labor, Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Francisco-Oakland-San Jose area. The law requires that this change be rounded to the nearest one-half percent.
Important Notice About Rollover Monies
Sample Forms
Introduction
In accordance with provisions of the federal Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”) and Retirement System Resolution No.