Employers

Employers

Overview

Our participating employers play an integral role in securing their employees’ retirement benefits. Participating employers provide SBCERA with the employee demographic and payroll data that allows SBCERA to calculate retirement benefits and run the retirement system. The employers also transmit the retirement contributions that SBCERA invests to pay retirement benefits.

Continuous improvement in our communication efforts to our employers is a top priority for SBCERA. We embrace transparency and engagement, and plan to increasingly use technology to deliver service and valuable information.

Overview

Employer Contribution Rates

SBCERA retirement benefits are funded through contributions paid by participating active employers, members, and earnings from SBCERA investments. Employer contribution requirements are determined by periodic actuarial valuations under state law, conducted by actuaries. The Board of Retirement reviews and sets contribution rate increases or decreases on the basis of these studies each fiscal year.

Overview

Employer Pay Codes

SBCERA’s Board of Retirement approved pay codes for use in calculating Tier 1 (Compensation Earnable) and Tier 2 (Pensionable Compensation) member and employer contributions. These approved pay codes are subject to retirement contributions. 

Overview

Financial Reports

SBCERA’s financial reports provide in-depth financial, investment, actuarial, and statistical information. The reports are prepared in accordance with accounting principles set forth by the Governmental Accounting Standards Board (GASB).

Notification

Coronavirus Updates

Our office is currently closed to the public, but we're working and available to assist you. Pension payments are on schedule and we are processing retirements. Visit our coronavirus (COVID-19) resource page for more information.

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