SDCERS Board Approves 13th Check and Corbett Benefits for 2013

Date: Sep 20, 2013

 

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration has approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2013 monthly retirement benefit check.

The “13th Check” and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.

For the November 2013 payment, eligible retirees will receive a “13th Check” for fiscal year 2013 and Corbett payments for fiscal year 2013 and 2012. In years when the “13th Check” is not paid, it does not carry forward. The Corbett benefit, however, is carried forward and paid in the next year when the “13th Check” is paid. Because the Corbett benefit was not in 2012, the 2012 Corbett benefit was carried over and will be paid in November 2013.

For more information about the “13th Check” and Corbett, click here.
 




Document Under Categories: 13th Check and Corbett, Board

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