Contributions

Mandatory pre-tax retirement contributions are deducted from your pay check 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

Police and Fire Old Plans: A8.595 & A8.596 7.0% of covered pay (excluding overtime and most premium pay)
Police and Fire New Plans Tier I: A8.597 & A8.598 7.5% of covered pay (excluding overtime and most premium pay)
Police and Fire New Plans Tier II: A8.601 & A8.602
Police and Fire New Plans Tier III: A8.604 & A8.605
9.0% of covered pay (excluding overtime and most premium pay)

 

As a result of  contribution cost-sharing provisions established under Proposition C of November 2011, the contribution rate will be adjusted once a year effective each July 1 based on:

  1. the City’s required contribution amount each fiscal year
  2. your hourly base rate of pay on June 30 each year

Contribution Rates for SFERS Safety Plan Members, Effective July 1, 2018:

Member Plan

Member Contribution
Base Rate

Adjusted Member
Contribution Rate
(regardless of pay rate)

Police and Fire Old Plans A8.595 & A8.596

 7.0%

11.5%

Police and Fire New Plans Tier I – A8.597 & A8.598

 7.5%

12.0%

 
Your member contribution rate may be adjusted in the range of +6.0% to -6.0%

 

Base Rate of Pay at June 30, 2018*:

Less than $56.8073 per hour or its equivalent                        

At or above $56.8073 per hour or its equivalent

Member Plan

Adjusted Member
Contribution Rate

Adjusted Member
Contribution Rate

Police and Fire New Plans Tier II – A8.601 & A8.602 12.5% 13.0%
Police and Fire New Plans Tier III – A8.604 & A8.605 12.5% 13.0%
Your member contribution rate may be adjusted in the range of +6.0% to -6.0%

* The hourly base rate of pay used to determine your contribution rate for FY 2017-18 is the rate referenced on your paycheck dated July 10, 2018. 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. Funds may be withdrawn for retirement or in the case of separation of employment.

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