The San Francisco Employees’ Retirement System (SFERS) administers two benefit programs for active and retired members: a Pension Plan (defined benefit plan) and a 457(b) Deferred Compensation Plan (defined contribution plan).
The SFERS Pension Plan is a defined benefit plan that provides service retirement benefits calculated using a formula based on age at retirement, years of service, and final compensation. The Deferred Compensation Plan is a voluntary IRS §457(b) Plan that allows participants to voluntarily defer receipt and taxation of a portion of their regular earnings until after they retire or separate from service.
Under the direction of the Retirement Board, Chief Executive Officer, Chief Investment Officer, and the senior staff team manage the system’s day-to-day activities. This includes investments, member services, finance, actuarial services, information technology, human resources, and communications.