Retirement Plan booklet - sdcera

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MAXIMUM BENEFITS PAYABLE TO YOU
SDCERA will not pay a retirement benefit amount that is greater than 100% of your monthly final average compensation
(see Page 16).
Additionally, federal law limits the amount of compensation that may be used to calculate your benefits. The limit for 2014
is $260,000. The limit may be revised in accordance with the Internal Revenue Code (IRC) regulations. If you first became
a member of SDCERA before July 1, 1996, you are not affected by this IRC Section 401(a)(17) limit.
The IRC regulations also place a limit on the amount of pension benefits you can receive. Under IRC Section 415(b), you
generally may not receive more than $210,000 annually (effective January 1, 2014) and the amount is adjusted based
on your retirement age. (Refer to www.sdcera.org for current amounts.) Some Safety members employed by the Sheriff’s
Department are not impacted by the adjusted limits of IRC Section 415(b). The County of San Diego has implemented an
Excess Benefit Plan, which is currently designed to pay the additional amount if you accrue a benefit that is more than
the annual limit. The Excess Benefit Plan is not part of the tax-qualified SDCERA retirement plan and is subject to different
tax rules.
SDCERA will notify you at the time of your retirement if your benefit is affected by either of these IRC limits, or you may
contact SDCERA for more information.
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SUPPLEMENTAL BENEFIT ALLOWANCE
The Supplemental Benefit Allowance (SBA)
amounts became effective July 1, 2013.
YEARS OF SDCERA MONTHLY
SERVICE CREDIT SBA
Less than 10 0
10 $87.50
11 $96.25
12 $105.00
13 $113.75
14 $122.50
15 $131.25
16 $140.00
17 $148.75
18 $157.50
19 $166.25
20 or more $175.00
Rev. 1/2014