Mandatory pre-tax retirement contributions are deducted from your paycheck each pay period to help with the cost of providing your retirement benefits. Member contributions are calculated as a percentage of your salary, known as the “member contribution rate”.
Member Plan |
Member Contribution Base Rate |
---|---|
Miscellaneous Old Plan: A8.509 | 8.0% of covered pay (including overtime) |
Miscellaneous New Plan Tier I: A8.587 Miscellaneous New Plan Tier II: A8.600 Miscellaneous New Plan Tier III: A8.603 |
7.5% of covered pay (excluding overtime) |
As a result of contribution cost-sharing provisions established under Proposition C of November 2011, the member contribution rate will be adjusted once a year effective each July 1 based on:
- the City’s required contribution amount each fiscal year
- the member’s hourly base rate of pay at each June 30 each year
Contribution Rates for SFERS Miscellaneous Plan Members, Effective July 1, 2021:
Member Plan |
Base Rate of Pay at June 30, 2021*: |
||
Less than $30.7211 per hour or its equivalent |
At or above $30.7211 per hour or its equivalent, but less than $61.4427 per hour or its equivalent |
At or above $61.4427 per hour or its equivalent |
|
Member Plan |
Member Contribution Base Rate |
Adjusted Member |
Adjusted Member |
Miscellaneous Old Plan: A8.509 |
No Adjustment: 8.0% |
11.5% | 12.0% |
Miscellaneous New Plan Tier I: A8.587 |
No Adjustment: 7.5% |
11.0% | 11.5% |
Miscellaneous New Plan Tier II: A8.600 |
No Adjustment: 7.5% |
11.0% | 11.5% |
Miscellaneous New Plan Tier III: A8.603 |
No Adjustment: 7.5% |
11.0% | 11.5% |
Your member contribution rate may be adjusted in the range of +4.0% to -4.0 |
Your member contribution rate may be adjusted in the range of +5.0% to -5.0% |
* The hourly base rate of pay used to determine your contribution rate for FY 2021-22 is the rate referenced on your paycheck dated July 19, 2021. Your contribution rate will not change during the fiscal year, even if your rate of pay changes during the fiscal year. If you have a question about your hourly base rate of pay, please contact your department personnel officer.
Contributions to the pension plan are solely for the purpose of retirement. You cannot borrow money from your SFERS pension account under any circumstance.