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SCERS WEBSITE HANDBOOK
SCERS' PLAN/TIER COMPARISON SERVICE RETIREMENT FORMULAS***
MISCELLANEOUS
TIER 1, 2, AND 3 MEMBERS |
SAFETY
TIER 1 AND 2 MEMBERS |
| Age* |
Percentage** of Final Comp. |
Reduction Factor for S. S. |
Age* |
Percentage** of Final Comp. |
Reduction Factor for S. S. |
| 50 |
1.474% |
$1.721 |
41 |
1.8774% |
$2.189 |
| 50 1/4 |
1.497% |
$1.748 |
41 1/4 |
1.9050% |
$2.221 |
| 50 1/2 |
1.520% |
$1.774 |
41 1/2 |
1.9326% |
$2.253 |
| 50 3/4 |
1.543% |
$1.801 |
41 3/4 |
1.9599% |
$2.285 |
| 51 |
1.566% |
$1.828 |
42 |
1.9875% |
$2.317 |
| 51 1/4 |
1.591% |
$1.857 |
42 1/4 |
2.0160% |
$2.351 |
| 51 1/2 |
1.616% |
$1.886 |
42 1/2 |
2.0442% |
$2.384 |
| 51 3/4 |
1.641% |
$1.915 |
42 3/4 |
2.0727% |
$2.417 |
| 52 |
1.666% |
$1.944 |
43 |
2.1012% |
$2.450 |
| 52 1/4 |
1.685% |
$1.966 |
43 1/4 |
2.1306% |
$2.485 |
| 52 1/2 |
1.703% |
$1.988 |
43 1/2 |
2.1600% |
$2.519 |
| 52 3/4 |
1.722% |
$2.010 |
43 3/4 |
2.1897% |
$2.553 |
| 53 |
1.741% |
$2.031 |
44 |
2.2191% |
$2.587 |
| 53 1/4 |
1.766% |
$2.061 |
44 1/4 |
2.2497% |
$2.623 |
| 53 1/2 |
1.791% |
$2.090 |
44 1/2 |
2.2803% |
$2.659 |
| 53 3/4 |
1.816% |
$2.119 |
44 3/4 |
2.3109% |
$2.695 |
| 54 |
1.841% |
$2.148 |
45 |
2.3415% |
$2.730 |
| 54 1/4 |
1.867% |
$2.179 |
45 1/4 |
2.3730% |
$2.767 |
| 54 1/2 |
1.894% |
$2.210 |
45 1/2 |
2.4048% |
$2.805 |
| 54 3/4 |
1.921% |
$2.241 |
45 3/4 |
2.4363% |
$2.842 |
| 55 |
1.947% |
$2.272 |
46 |
2.4678% |
$2.877 |
| 55 1/4 |
1.975% |
$2.305 |
46 1/4 |
2.5017% |
$2.917 |
| 55 1/2 |
2.004% |
$2.338 |
46 1/2 |
2.5356% |
$2.957 |
| 55 3/4 |
2.032% |
$2.371 |
46 3/4 |
2.5758% |
$3.005 |
| 56 |
2.060% |
$2.404 |
47 |
2.6034% |
$3.036 |
| 56 1/4 |
2.091% |
$2.440 |
47 1/4 |
2.6340% |
$3.071 |
| 56 1/2 |
2.121% |
$2.475 |
47 1/2 |
2.6646% |
$3.142 |
| 56 3/4 |
2.151% |
$2.510 |
47 3/4 |
2.6949% |
$3.178 |
| 57 |
2.182% |
$2.546 |
48 |
2.7255% |
$3.216 |
| 57 1/4 |
2.203% |
$2.571 |
48 1/4 |
2.7582% |
$3.255 |
| 57 1/2 |
2.225% |
$2.596 |
48 1/2 |
2.7912% |
$3.293 |
| 57 3/4 |
2.246% |
$2.621 |
48 3/4 |
2.8239% |
$3.331 |
| 58 |
2.268% |
$2.646 |
49 |
2.8566% |
$3.372 |
| 58 1/4 |
2.289% |
$2.671 |
49 1/4 |
2.8923% |
$3.415 |
| 58 1/2 |
2.310% |
$2.696 |
49 1/2 |
2.9283% |
$3.456 |
| 58 3/4 |
2.332% |
$2.721 |
49 3/4 |
2.9640% |
$3.498 |
| 59 |
2.353% |
$2.746 |
50 And Over |
3.000% |
$3.498 |
| 59 1/4 |
2.385% |
$2.770 |
|
|
|
| 59 1/2 |
2.396% |
$2.796 |
|
|
|
| 59 3/4 |
2.418% |
$2.821 |
|
|
|
| 60 |
2.439% |
$2.846 |
|
|
|
| 60 1/4 |
2.461% |
$2.871 |
|
|
|
| 60 1/2 |
2.482% |
$2.896 |
|
|
|
| 60 3/4 |
2.504% |
$2.921 |
|
|
|
| 61 |
2.525% |
$2.950 |
|
|
|
| 61 1/4 |
2.546% |
$2.965 |
|
|
|
| 61 1/2 |
2.568% |
$3.000 |
|
|
|
| 61 3/4 |
2.589% |
$3.022 |
|
|
|
| 62 And Over |
2.611% |
$3.047 |
|
|
|
*Minimum eligibility
requirement for all plan tiers is: 10 years service credit and age 50; or 30 years of
"miscellaneous" service credit or 20 years of "safety" service credit
at any age.
**Percentage presented as a
decimal, e.g., 1.474% = .01474, i.e., the percent of final compensation provided as a
retirement benefit for each year of credited service at specified retirement age.
*** Notice
to SCERS members who are employees for the Fair Oaks Cemetery, Galt-Arno
Cemetery, and UCD districts - On June 29, 2003, the new
service retirement benefit formulas were made applicable to all Sacramento
County employees and SCERS member districts. However, for SCERS members
who are employees of Fair Oaks Cemetery, Galt-Arno Cemetery, and
UCD districts, the “old” Miscellaneous
service retirement formula  applies
to service credits earned prior to June 29, 2003, and the new formula
applies to service credits earned after June 29, 2003. Please use
this Table to
estimate your benefits for service credits earned prior to June 29,
2003.
| Ret.
Plan/Tier |
Final
Comp. |
Annual
Cola Maximum |
| Misc. 1 |
1 Year |
4% |
| Misc. 2 |
3 Years |
0% |
| Misc. 3 |
3 Years |
2% |
| Safety 1 |
1 Year |
4% |
| Safety 2 |
3 Years |
2% |
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