| Safety Contribution Rates |
CONTRA
COSTA COUNTY
EMPLOYEES' RETIREMENT ASSOCIATION |
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Like General members, Safety member contributions are set using the "entry age normal" method.
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| This means the age you enter the system is the starting point for figuring a present estimate of the amount your future benefit will cost, factored as a level amount for the years it will take to arrive at your retirement age. |
| The younger you enter the system, the more years you have to make contributions. Therefore, younger members have smaller contribution percentages because they have more years to make contributions to their retirement. |
| Safety members traditionally retire at earlier ages than General members. The majority of active law enforcement, fire fighters and other personnel with high risk jobs are covered by the 3% at 50 benefit structure. Contribution rates are set to provide an average retirement annuity at age 50, rather than at age 55 used for General members (2% at 55). |
| The 3% at 50 benefit is more generous, but it is also more costly to employees and employers alike. |
In recent years, County and special district employers have experienced declines in revenue, while the cost of providing benefits has increased. Beginning in 2006, in order to assist provision of the 3% at 50 benefit for active Safety members, certain County Safety and Moraga-Orinda Fire Protection District Safety members contribute an additional amount per year, up to a maximum of 9% of the employer's increase in contributions attributed to the adoption of the 3% at 50 benefit. (This is called "subventing" the employer's cost.)
The statute allowing this subvention of employer rates by employees was adopted in 2006.
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By the end of 2006, Contra Costa County and the Deputy Sheriff's Association modified this subvention rate to 3%, for this group only. |
| All contributions made by members are refundable at termination of employment (including the amounts Safety employees subvent for employer costs), if the terminating member chooses to take a lump sum payout, rather than a monthly retirement benefit. |
| Safety members who have credit for 30 years of continuous service do not pay retirement contributions. |
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| Safety Member Retirement Eligibility |
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| FULL TIME Safety members are eligible to retire: |
- at age 50 with 10 years of full time continuous * service,
- at any age with 20 years of full time service
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*Full time service may include a break in service that does not exceed 12 months, for a medical leave of absence. If contributions were not taken during a break in service, the member may "purchase" the time. However, this purchase cannot exceed the 12 month limit.
Payments can be made either as a lump sum, or as monthly payroll deductions, but the total amount of time credited and the length of payment contract may not be more than the length of the period for which credit is claimed. |
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| If a Safety member has service credit in more than one tier (for example, 10 years as a Safety member and 5 years as a General member in Tier 3), the retirement benefit will be the sum of both categories of service, regardless of the tier under which the member retires. The member will receive 10 years of service credit calculated under the Safety tier, and 5 years calculated under the Tier 3 benefit formula. |
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| Safety Retirement for Members Who are Reciprocal with CalPERS |
| Under most circumstances, members must retire from both reciprocal systems at the same time. However, some Safety members may have met eligibility requirements in one system, but not in another system. (For example: a Safety member may have completed 20 years of reciprocal service credit in a 1937 Act system, but not have reached the minimum age requirement (age 50) in a CalPERS established reciprocal system.) In this circumstance, the member may retire from one system on a date that is not concurrent within each system. Reciprocal members should contact each system and verify the rules on concurrent retirement dates prior to making the decision to retire on different dates. |
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- PART-TIME Safety members are eligible to retire:
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- at age 55, with 5 or more years of retirement service credit, and
- have held a position with the County or a participating employerfor a minimum of 10 years
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