Declining Employer Payroll Policy

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The purpose of this policy is to establish guidelines by which SCERS ensures that a participating employer of SCERS, who may experience an actual or anticipated material decline in the payroll attributable to its SCERS active members, will continue to satisfy its obligation to timely pay all unfunded actuarial accrued liability (UAAL) attributable to the prior and future service of active, retired, and deferred SCERS members who are or were the participating employer’s employees, and their beneficiaries.

Declining Employer Payroll Policy