SDCERS Retirement Plan Summary

Fact sheet for Airport Authority Executive Members

SDCERS was established by the City of San Diego in 1927 to administer retirement benefits for its Members. SDCERS provides benefits to its vested Members when they retire. SDCERS’ responsibilities include collecting contributions, making payments, investing earnings, and managing the retirement fund with direction from a 13-member Board of Administration (Board).

You become a Member of SDCERS after you are appointed to a permanent position as any classified or unclassified, full or half-time Airport Authority employee. Required pre-tax contributions will be automatically deducted from your bi-weekly paycheck, transmitted to SDCERS, and deposited into the trust fund.

Your defined benefit plan with the Airport Authority is a retirement plan to which you make contributions while you are a Member, and that entitles you, when eligible, to a benefit from the time you retire until your death.
 

Plan Sponsor: Airport Authority

Plan Name: APA Executives (includes President & CEO, General Counsel, Chief Auditor and Vice Presidents)

Member Contribution Rate: This is based on your age upon entry into SDCERS or into a reciprocal system if you have established reciprocity.

 *Contribution rates are reviewed by SDCERS’ actuary and adopted by the Board annually.

Offset: Offset rate for Executive Members hired before January 1, 2013 is 100% of the otherwise payable employee contributions.

Earning Sevice Credit: Service Credit represents the amount of time you have earned or purchased in the retirement system as a contributing Member of SDCERS. It is one of the factors used in determining your eligibility and retirement benefit amount. Credits earned for part-time status are proportionately awarded.

Vesting: You must have at least five full years of service credit as a contributing Member of SDCERS to be vested in the retirement system and eligible for retirement benefits once you have met the minimum age requirement. (Note: Reciprocal service credits may be used to satisfy vesting requirements.)

Service Retirement Eligibility:

For those hired before January 1, 2013:

  • Age 55 (or older) with 20 or more years of service credit; or
  • Age 62 (or older) with five or more years of service credit

For those hired on or after January 1, 2013:

  • Age 52 (or older) with five or more years of service credit

Service Retirement Benefit Formula: Your service retirement benefit is based on a formula which includes:

Formula: For Executive Members hired before January 1, 2013: 3% per year of service at age 55 or older

For Executive Members hired on or after January 1, 2013: 1% per year of service at age 52, increasing to 2.5% at age 67. A Member with two or more categories will receive blended benefits. No retroactive upgrade is allowed for prior service. *Cannot exceed limits under PEPRA, Govt. Code §§ 7522.10 and 7522.42

Create a Member Portal account at www.sdcers.org to calculate an estimate of your benefits.

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