Retirement Plan booklet - sdcera

30
Supplemental benefit allowance
A supplemental benefit allowance is available to eligible General, Tier
A members and Safety members covered by the 3% at age 50 benefit formula.
Generally, you must have at least 10 years of SDCERA service credit to be
eligible for an allowance. If your retirement is based on a disability, you may
be eligible for this allowance regardless of your years of service credit.
If eligible at retirement, in addition to your monthly retirement payment,
you will receive a monthly Supplemental Benefit Allowance (SBA). The
SBA amount will be subject to tax and may be used to offset the cost of
health insurance premiums or however you choose. The SBA is not a
vested SDCERA benefit and is not guaranteed. The allowance may be
reduced or discontinued at any time. The Board of Retirement periodically
determines whether to continue the SBA. Review the chart for the current
allowance amounts, based on years of service credit.
YEARS OF SDCERA MONTHLY
SERVICE CREDIT
SBA
Less than 10 0
10 $ 200
SDCERA currently offers
health insurance plans for
retired members. Medical
and dental plans are
available to both in-state
and out-of-state residents.
Read more in the Health
Insurance Plans for Retired
Members booklet.
11 $ 220
12 $ 240
13 $ 260
14 $ 280
15 $ 300
16 $ 320
17 $ 340
18 $ 360
19 $ 380
20 or more $ 400