SMCCE 40.5 Retirement COLA

Employees hired on or after August 7, 2011 will pay fifty percent (50%) of the Retirement COLA cost as determined by SamCERA. COLA costs are included in the Plan 7 statutory rate.

Effective July 3, 2016, all employees will pay fifty percent (50%) of the Retirement COLA cost as determined by SamCERA.

Effective July 5, 2015, employees will receive a one percent (1%) salary increase to offset the additional employee payment toward retirement COLA.