PDA 37. Retirement COLA

• Employees hired on or after July 10, 2011 will pay 50% of the Retirement COLA cost as determined by SamCERA.

• Commencing May 30, 2013, employees hired before July 10, 2011 will pay 25% of the Retirement COLA cost as determined by SamCERA.

Effective July 3, 2016, all employees, regardless of plan or hire date, will pay a COLA cost share equal to fifty percent (50%) of the retirement COLA costs as determined by SamCERA. Plan 7 members do not pay the COLA cost share as the Plan 7 COLA costs are part of the Plan 7 contributions.

In recognition of the additional employee contribution to retirement COLA, effective the first pay period following Association ratification of the successor MOU, employees shall receive an offset based on pension membership as follows:
• Employees hired by the County of San Mateo into Probation Retirement Tier 1 or Tier 2 will receive one and six tenths’ percent (1.6%) Safety Longevity Pay;
• Employees hired by the County of San Mateo into Probation Retirement Tier 4 will receive one percent (1%) Safety Longevity Pay;
• Employees hired by the County of San Mateo into General Retirement Tier 1 or Tier 2 will receive one percent (1%) General Longevity Pay; and
• Employees hired by the County of San Mateo into General Retirement Tier 4 will receive one-half percent (.5%) General Longevity Pay.