Contributions
Contribution Rates for SFERS Miscellaneous Safety Plan members, effective July 1, 2024.
Contribution Rates
The base rate of pay is based on your rate of pay as of June 30, 2024.
| Plan | Base Rate | Adjusted Rate | Adjusted Rate |
|---|---|---|---|
| Base rate of pay less than $67.5467 per hour or its equivalent | Base rate of pay at or above $67.5467 per hour or its equivalent | ||
| AB.610 | 9.0% | 10.5% | 11.0% |
| 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 2024-25 is the rate referenced on your paycheck dated July 16, 2024. 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’s Personnel Officer.
Contributions to the pension plan are for the sole purpose of retirement. You cannot borrow money from your SFERS pension account under any circumstance. Funds may be withdrawn only after you separate from employment.
