Latest News
SCERS Welcomes New Executive Staff
SCERS announces the addition of two new executive staff members this week: Chief Benefits Officer Keith Riddle, and General Counsel Jason Morrish.
SCERS Office Closing Early on Friday 6/2
SCERS’ office will be closing to the public at 11:00 a.m. on Friday, June 2 for a staff event.
We will return to normal business hours on Monday, June 5.
Court-Mandated Pension Reductions Underway
The Sacramento County Employees’ Retirement System (SCERS) has provided notice to approximately 400 retirees regarding adjustments to their pensions effective in the March 2023 pension payment, in compliance with the California Supreme Court’s “Alameda” decision.
COLA Approved
On February 15, 2023, the SCERS Board adopted the following cost-of-living adjustments, effective April 1, 2023, for members with retirement dates on or before March 31, 2023:
- 4% = Miscellaneous Tier 1 and Safety Tier 1
- 2% = Miscellaneous Tiers 3, 4, and 5 and Safety Tiers 2, 3, and 4
For more information, go to: https://www.scers.org/retiree-cola-tracker
Look out for the Popular Annual Financial Report
SCERS will be mailing the 2022 Popular Annual Financial Report (PAFR) to all members over the next few days.
Your 1099-R Tax Forms Will Soon be in the Mail
Your 1099-R forms will be mailed by Tuesday, January 31st, 2023. Refer to the following information to learn more about the 1099-R form.
SCERS Welcomes New Board Members
The swearing-in ceremony for M. Tepa Banda took place during the December meeting of the SCERS Board, where he began to serve as the newly-elected Miscellaneous trustee. Dave Irish, the new Alternate Retiree member of the Board, and Martha Hoover, the existing Retiree trustee, will be sworn in at our January 18th meeting.
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.
James Diepenbrock Returns to the SCERS Board
SCERS welcomes back James Diepenbrock to the SCERS Board, on which he previously served from 1997 to 2021, including 11 years as the SCERS Board president. The Board of Supervisors appointed Mr. Diepenbrock to the Board in September.
Summer Newsletter Mailing Issue Reported
We have been made aware that some members may have received the summer edition of the SCERS newsletter addressed to the wrong member.
Negative Investment Return in a Volatile Market Environment
With a -3.5% return, net of fees, for the 12-month period ending June 30, 2022, SCERS experienced a rare loss since the global financial crisis of 2009, and puts SCERS’ assets at $11.8 billion.
Robert Aguallo, Jr. Joins SCERS Board
SCERS welcomes the appointment of Robert Aguallo, Jr. to the SCERS Board, who will be sworn in at the August 17th meeting.
Ronald Suter Returns to the SCERS Board
SCERS welcomes the appointment of former Regional Parks director Ronald Suter to the SCERS Board, on which he previously served as an elected trustee from 1994 to 2006.
Change Coming to Post-Retirement Employment Limits
California state rules restricting post-retirement employment (i.e. 960-hour limit and 180-day sit-out period) are back in effect April 1, 2022.
COLA Video Added to SCERS Library
A new animated video offering a brief explanation of how the retiree cost-of-living adjustment (COLA) is calculated has been added to our Videos page.
SCERS Board to Approve COLA for 2022
UPDATED FEBRUARY 17, 2022–
At the February 16, 2022 Board of Retirement meeting, the SCERS
Board approved the following Cost of Living Adjustment
(COLA) levels effective April 2022, as recommended by the
system’s actuary:
SCERS’ Member Service Hours to Change
SCERS will be making a change to its member service hours effective Monday, January 31, 2022.
Your 1099-R Forms Coming Soon
Your 1099-R tax forms will be in the mail by January 28, 2022.
Two Seats Open for Appointment to the SCERS Board
Applications for appointments to the Board are now available.
SCERS Releases New Animated Video
A new animated video on the topic of how benefit formulas are calculated has been posted to the SCERS website and YouTube channel.