Below are the contribution rates for the Sheriff plan members, effective July 1, 2022.
Contribution Rates by Base Rate of Pay
The base rate of pay is based on your rate as of June 30, 2022, for Sheriff Plan A8.608.
|Pay Rate||Member Contribution Rate||Possible Rate Adjustment|
|Less than $63.5932 per hour or its equivalent||11.5%||Your member contribution rate may be adjusted in the range of +4.0% to -4.0%|
|At or above $63.5932 per hour or its equivalent||12.0%||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 2022-23 is the rate referenced on your paycheck dated July 18, 2022. 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 Funds may be withdrawn only after you separate from employment.