SDCERS definition
Examples of SDCERS in a sentence
These SDCERS benefits are calculated as if the Member were retiring on the date the Member enters the DROP.
Employees hired on or after July 1, 2005, are not eligible for the purchase of service credit (“airtime”) in SDCERS, except for credit for up to five years of military service.
The benefit changes resulting from this class action settlement were approved by the SDCERS active and retired membership in June 2000.
On December 20, 2003, General Members’ contribution rates to SDCERS will be increased by an approximate additional 0.53%.
Employees in the Deferred Retirement Option Plan (DROP) program will continue to have a pay reduction of 3.2 percent of base salary, to correspond to the 3.2 percent reduction in the City offset of the employee contribution to San Diego City Employees’ Retirement System (SDCERS) by non-DROP employees, which was initially negotiated in prior contract negotiations.
The City presently represents that, under federal tax law, a qualified pension plan like SDCERS cannot hold, control or invest contributions to pay medical benefits, unless a 401(h) trust is established.
This election must be made with SDCERS at the time of application for retirement.
If the City does not implement a leveraged mechanism to reduce the UAAL within the term of this MOU, then these monies shall be deposited into the SDCERS Employee Contribution Rate Reserve and used to defray the pension contribution obligation of employees in Local 145-represented bargaining units.
On July 1, 2001, Fire Safety Members’ contribution rates to SDCERS will be increased by 0.53%.
Effective July 1, 1991, for the purpose of benefit calculation only, 1981 Plan service is equivalent to SDCERS Service.