Plan Ahead with SamCERA Educational Events

SamCERA offers educational events throughout the entire year for all members at any stage in their career.

• Financial Planning Classes: All members can take advantage of classes that cover a wide range of topics. From managing your finances to estate planning; these classes help you plan ahead and take hold of your finances.
• Road to Retirement Seminar: Presenters from SamCERA, Human Resources, Mass Mutual and Social Security provide essential information for members who have a target retirement date within six months to three years.
• Ready to Retire Workshop: If you plan to retire within one year, be sure to sign up for this workshop. SamCERA staff review the retirement process and your retirement benefit options, and Human Resources Benefits staff go over important medical, dental and vision insurance information.

Take advantage of an upcoming educational event today! Learn more at www.samcera.org.

Understanding Your Retirement Benefit

It's important to understand your pension benefit from SamCERA, so in each newsletter, we will share a common question that we hear from members. Read our first frequently asked question below!

How is my pension calculated?

For a regular service retirement, your benefit is calculated using your years of service, age factor and final average compensation.

• Service Credit: In general, your service credit is based on the number of hours that you worked as a SamCERA member. (It's important to remember that not all types of time count towards service credit.)
• Age Factor: The age factor is the percentage of pay to which you are entitled for each year of service credit. It is determined by your age at retirement and varies depending on your retirement plan.
• Final Average Compensation: There are two factors that we consider when calculating your final average compensation (FAC) - 1) the pay items and amount of compensation, and 2) the time period used to make the calculation. FAC includes base pay and certain other (but not all) pay items, and the time period is dependent on the plan that you are in.

For detailed information and to learn more about your SamCERA pension benefit visit our website or check out The Guide to Your SamCERA Benefits.

Build a Bigger Nest Egg

Did you know that the more service credit you have at retirement, the higher your retirement benefit may be?

SamCERA provides the option for eligible members to purchase certain types of service credit, from medical or military leave to hours worked as an extra-help or limited term employee.

Save money and purchase service credit early in your career, because the cost will be lower as less interest has accrued on the service credit you want to purchase.

There are two separate periods of time every year to make service purchases with SamCERA, and the deadline to submit your request for the first period of 2019 is May 15, 2019.

Learn more about the application process here.

Mark Your Calendars!

There are classes, meetings and important deadlines coming up at SamCERA. See what's on our schedule for the next couple of months below:

• March 26 - Board of Retirement Meeting
• March 27 - Road to Retirement Seminar
• April 1 - Analyzing & Investing in Mutual Funds
• April 22 - How to Research & Select Stocks
• April 23 - Board of Retirement Meeting
• May 9 - How to Invest $25 a Paycheck
• May 15 - Deadline to submit Purchase Request forms
• May 15 - Retirement Planning for All Ages
• May 22 - Money Management
• May 27 - Memorial Day (office closed)

You can find a full calendar with upcoming events and other important dates online.

San Mateo County Employees' Retirement Association
(SamCERA)

NOTICE OF ELECTION

TO ELECT THREE MEMBERS TO THE BOARD OF RETIREMENT

Notice is hereby given that one GENERAL MEMBER is to be elected to fill the third position, and one RETIRED MEMBER is to be elected to fill the eighth position on SamCERA’s Board of Retirement. An ALTERNATE RETIRED MEMBER will also be elected.

General Member Eligibility: Candidates must be active SamCERA General members. Each candidate for the General member position shall be nominated by a petition signed by not less than ten (10) active SamCERA General members.

Retired Member and Alternate Retired Member Eligibility: Candidates must be retired SamCERA members and may only nominate themselves to one position, either the Retired Member seat or the Alternate Retired Member seat.

Member Terms: The General member, the Retired member and the Retired member alternate shall serve from July 2019 – June 2022.

Required Nomination Petitions & Declarations of Candidacy: These forms will be available and can be circulated beginning Monday, April 15, 2019 through Monday, May 6, 2019. Qualified Candidates may obtain petitions in person at:

Registration & Elections Division
Office of the Chief Elections Officer & Assessor-County Clerk-Recorder
County of San Mateo
40 TOWER ROAD, SAN MATEO, CA 94402

Completed Nomination Petitions & Declarations of Candidacy: These completed forms must be filed in person with the Registration & Elections Division no later than 5:00 p.m. on May 6, 2019.

Please contact Candidate Filing Officer Penny Boyd at 650.312.5506, if you have any questions or wish to make an appointment to take out Candidacy Papers.

The election will be held on MONDAY, JUNE 10, 2019 and will be conducted in accordance with Article 4 of the Regulations of the Board of Retirement. These regulations are available at the Elections Office or SamCERA’s website at: www.samcera.org.

MARCH CHURCH

Chief Elections Officer

We want this newsletter to be valuable for you, and we welcome your feedback and suggestions. Email them to: njeong@samcera.org.