REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
May 07, 2024
FROM
DEBBY CHERNEY, Chief Executive Officer, San Bernardino County Employees' Retirement Association
SUBJECT
Title
Retirement Contribution Rates 2024-25
End
RECOMMENDATION(S)
Recommendation
Approve adjustments to the Retirement Contribution Rates effective June 29, 2024 (Pay Period 15/24) as follows:
1. Decrease the County retirement contribution rate for Tier 1 General Members from 25.54% to 24.21% of compensation earnable.
2. Decrease the County retirement contribution rate for Tier 2 General Members from 22.53% to 21.57% of pensionable compensation.
3. Decrease the County retirement contribution rate for Tier 1 Safety Members from 61.93% to 61.41% of compensation earnable.
4. Decrease the County retirement contribution rate for Tier 2 Safety Members from 53.58% to 52.82% of pensionable compensation.
5. Decrease the Superior Court retirement contribution rate for Tier 1 General Members from 27.72% to 26.06% of compensation earnable.
6. Decrease the Superior Court retirement contribution rate for Tier 2 General Members from 24.71% to 23.42% of pensionable compensation.
7. Decrease the South Coast Air Quality Management District retirement contribution rate for Tier 1 General Members from 44.18% to 42.00% of compensation earnable.
8. Decrease the South Coast Air Quality Management District retirement contribution rate for Tier 2 General Members from 38.81% to 37.45% of pensionable compensation.
9. Decrease the Other General (Non-County/Special Districts) retirement contribution rate for Tier 1 General Members from 35.90% to 34.98% of compensation earnable.
10. Decrease the Other General (Non-County/Special Districts) retirement contribution rate for Tier 2 General Members from 31.03% to 29.08% of pensionable compensation.
11. Decrease the Other General Local Agency Formation Commission retirement contribution rate for Tier 1 General ...
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