Latest News

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Governor Relaxes Post-Retirement Employment Rules During Pandemic

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.

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Updates from SCERS on COVID-19
Updated March 22, 2020

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.

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Report Finds SCERS Benefits in Good Health

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.

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Changes to 2020 Tax Withholdings

The IRS released a revised Form W-4 for the 2020 tax year. This allows employees or retirees to more accurately estimate the amount of taxes to withhold from their income.

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1099-R Tax Forms

Attention: 1099-R tax forms are being mailed on January 30th. To allow sufficient mail processing time, if you do not receive your 1099-R by February 10th please contact our office at (916) 874-9119.

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SCERS Board To Approve COLA

The SCERS Board will adopt annual cost-of-living adjustments (COLA) for retirees and beneficiaries at the February 2020 Board meeting.

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Funding Remains Strong

The funded status for the Sacramento County Employees’ Retirement System (SCERS) increased to 82.6 percent, as of June 30, 2019, according to the annual actuarial valuation approved by the Board of Retirement on November 20, 2019. 

The fund was helped by a 2018-19 fiscal year investment return of 7.2 percent, finishing the fiscal year with approximately $9.8 billion in assets.  SCERS continues to manage an unfunded liability of $2.1 billion over a 20-year period to ensure sufficient assets are in place to support long-term benefit obligations.

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Retirement Board Election Update

The 2019 Board of Retirement candidate nomination period is closed. Ballots will be mailed mid-September for the Miscellaneous Representative position.  

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Pension Fund Nears $10 Billion

SCERS’ investments returned 7.2% in the 2018-19 fiscal year, finishing with a market value of $9.7 billion. 

SCERS assumes a 7% annual rate of return — meeting or exceeding that target helps keep the fund strong to support benefits without needing to increase contribution rates. For the last 3, 5, and 10 years ending June 30, SCERS delivered annualize returns of 10.4%, 6.5% and 9.7%, respectively.

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Read the Summer Issue of SCERS’ Newsletter

Our Summer 2019 newsletter is out! This issue spotlights our Chief Investment Officer, offers tips on submitting retirement documents early, a note about Board elections, and more.

Active and retired members can find the newsletter in their mailbox or may pick up a copy at SCERS’s downtown office. The newsletter has also been posted under Newsletters.

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Retirement Board Elections Coming Soon

Sacramento County Employees’ Retirement System (SCERS) Retirement Board will elect three new members next month: a Miscellaneous Representative, Retiree Representative, and Alternate Retiree Representative. Ballots are being mailed to members, so make sure your mailing address is up to date!

Visit scers.org/elections for more detail on the open positions, upcoming nomination period, and voting period.

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Date and Time Changes for Retirement Planning Seminars

Based on member feedback, we have pushed back the start time of our quarterly retirement planning seminars to 9 a.m. (previously 8 a.m.) and condensed the seminar to end at 4 p.m. (previously 4:30 p.m.). We also moved the October event  to October 21 (previously October 3) due to a schedule conflict.

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Overtime and Service Credit Policies

The SCERS Board of Retirement adopted new policies in April 2019 that clarify how compensation and service credit will be incorporated into pension calculations.  SCERS will no longer include in Final Compensation any portion of allowances or pay incentives earned after April 27, 2019, as a result of overtime, expired compensatory time off (CTO), or CTO-over-max.  SCERS also will limit service credit to one (1) year in a 12-month period.   These policies provide for more consistency in pension calculations based on a better interpretation of law.

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New Issue of SCERS Newsletter Published

The latest edition of the SCERS newsletter has been published.  The Spring 2019 newsletter includes a spotlight on SCERS’ new Chief Benefits Officer, a retirement checklist, FAQs regarding service credit purchases, fast facts regarding benefit recipients, and details on upcoming events.

The newsletter has been posted on the SCERS website in the Newsletters section and has been mailed out to all of our active and retired members.

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Post-Retirement Employment Policy Discussion Draft

At its meeting on March 20, 2019, the SCERS Board directed Staff to distribute a discussion draft of the Post-Retirement Employment Policy to stakeholders for comment and to bring the policy back to the Board for final approval at a future meeting.  

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New Issue of SCERS Newsletter Published

SCERS Newsletter Winter 2019

The latest edition of the SCERS newsletter has been published.  The Winter 2019 newsletter includes an investment update, cost-of-living adjustment information, important tax information, benefit FAQs, and details on upcoming events.

The newsletter has been posted on the SCERS website in the Newsletters section and has been mailed out to all of our active and retired members.