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San Mateo County Employees' Retirement Association
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Are you getting ready to retire?
There are some important things inactive members should know about retirement

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Learn more about your COLA
Get this year's cost-of-living adjustment (COLA), plus find out how COLA is calculated

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Get an accurate retirement benefits estimate
Login to MySamCERA for the most accurate look at your future pension

About SamCERA

News

Overview

News

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Board of Retirement Investment Information
2023 July Board Meeting

At its meeting on July 25, 2023, it was reported that SamCERA made a $25 million commitment to Gridiron Capital Fund V L.P. and a $20 million commitment to Charlesbank Technology Opportunities Fund II L.P, both as part of SamCERA’s buyout portfolio within Private Equity under the Growth category.

No further board action was taken related to SamCERA’s investment commitments or hires.

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2023-24 Contribution Rates
SamCERA has updated its contribution rates for members and employers, effective July 2023.

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Retiree Pay Dates
Benefits are paid on the last business day of each month. Learn more about the current schedule of payment dates here.

Benefits are paid at the end of the month (last business day) for the current month’s benefits.

First Benefit Payment

If you have recently retired, you will usually receive your first allowance payment by direct deposit at the end of the month following the month you retire (for example, if you retire any time in March, you will receive your first payment on the last business day in April). Also, due to processing time with your employer, it may be approximately 6-8 weeks before you receive your first retirement payment.

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Board of Retirement Investment Information
2023 May Board Meeting

At its meeting on May 23, 2023, the Board of Retirement selected NISA to manage a passive long duration Treasury account totaling 3% of plan assets (or approximately $177 million).

The Board also approved a $60 million investment to One Williams Street Capital Partners Fund, as part of SamCERA’s opportunistic credit portfolio within the Growth category.

Lastly, the board approved a commitment of $20 million to MGG Structured Solutions Fund II L.P., as part of SamCERA’s Debt-Related/Special Situations portfolio within Private Equity under the Growth category.

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Board of Retirement Investment Information
2023 April Board Meeting

At its meeting on April 25, 2023, the Board of Retirement approved a re-up commitment of $25 million to LS Power Equity Partners V L.P., as part of SamCERA’s Infrastructure portfolio within Private Real Assets.

No further board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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Board of Retirement Investment Information
2023 March Board Meeting

At its meeting on March 28, 2023, it was reported that SamCERA made a $20 million re-up capital commitment to Genstar Capital Partners XI, LP, as part of SamCERA’s Buyout portfolio within Private Equity.

No board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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MySamCERA – Upcoming Scheduled Maintenance
Learn about certain features and services that will be unavailable from Friday, 3/31 at 8:00 PM to Monday, 4/3 at 8:00 AM

Due to scheduled maintenance, the following features and services will be unavailable on MySamCERA from Friday, 3/31 at 8:00 p.m. to Monday, 4/3 at 8:00 a.m.:

  • Reset password
  • Username lookup
  • Email notifications

We apologize for any inconvenience and appreciate your patience during this time. If you have questions please email samcera@samcera.org or call during normal business hours: 800-339-0761 (Monday-Thursday, 7:30 a.m. – 5:30 p.m.)

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Board of Retirement Investment Information
2023 February Board Meeting

At its meeting on February 28, 2023, the Board approved a new asset allocation policy. The changes include a 2% increase to Growth assets, a 1% reduction in Diversifying assets and a 1% reduction in Inflation Hedge assets. The new policy has a target allocation of 59% to Growth assets, 18.5% to Diversifying assets, 17% to Inflation Hedge assets and 5.5% to Liquidity assets.

The Board of Retirement then approved a re-up commitment of $10 million to Eclipse Fund V L.P., as part of SamCERA’s Venture Capital portfolio within Private Equity.

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Board of Retirement Investment Information
2023 January Board Meeting

At its meeting on January 24, 2023, the Board of Retirement approved the implementation of a dynamic currency hedge program with Record Currency Management Limited.

The Board also approved a $20 million commitment to KSL Capital Partners VI LP, as part of SamCERA’s Infrastructure portfolio within Private Real Assets.

No further board action was taken related to SamCERA’s investment commitments or hires.

Announcement

COLA Increase for 2023
At its January 24, 2023 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for most retirees and beneficiaries that will begin with the April 2023 benefit payment.

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Retirees: 2022 Tax Forms Are Available Now
1099-R Annual Tax Reporting Statements were mailed on January 11, 2023, and are available online now.

1099-R tax forms were mailed on January 11, 2023 to the addresses we have on record for retirees. This form contains information about reportable income and taxable income from SamCERA for 2022. It will also reflect the amount of federal and California taxes that have been withheld, if any.

Access Your 1099-R Online

Your 1099-R is available online to view and print in the MySamCERA member portal.

Announcement

Notice of Special Election
SamCERA Probation members have an opportunity to run for the Alternate Safety Member seat on the SamCERA Board of Retirement, which is currently vacant. Read the Notice of Special Election for important dates and additional information.

SAN MATEO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION
(SamCERA)

NOTICE OF SPECIAL ELECTION
TO ELECT A SAFETY ALTERNATE TO THE BOARD OF RETIREMENT

Notice is hereby given that one PROBATION MEMBER is to be elected to fill the unexpired term for the Alternate Safety Member seat on SamCERA’s Board of Retirement at a special election to be held on March 6, 2023. 

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Compensation Limits for 2023
Learn about updated compensation limits in 2023 for Plan 7 members, and the 2023 IRS compensation limit for members hired after July 1, 1996.

“Compensation limits” do not refer to restrictions on the amount of salary your employer can pay you.  Rather, this term refers the maximum amount of compensation SamCERA can take into account when determining your contributions and calculating your monthly pension benefit under your retirement plan.

Announcement

2023 Service Purchase Schedule
There are two separate periods of time during 2023 to make service purchases.

Depending on your circumstances, you may be eligible to purchase service credit that can count toward your total years of service and may increase your retirement benefit. 

Purchase Request forms may be submitted for the purchase of Extra Help time, Plan 3 and Plan 5 service upgrades, certain military leave, unpaid sick leave, and parental leave. Returning SamCERA members can also make a Purchase Request for a redeposit of withdrawn funds. 

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Board of Retirement Investment Information
2022 December Board Meeting

At its meeting on December 6, 2022, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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Important Dates and Information About the New 2023 W4-P
Learn about when you should start using the new 2023 W4-P form for tax withholdings.

The Internal Revenue Service (IRS) revised the W4-P federal tax withholding form in 2022. SamCERA will begin using the new IRS W4-P forms, which are for periodic payments only, on January 1, 2023. 

If you need to make new withholding elections or make a change to your current elections, it is important to use the correct form based on your submission date to prevent delays with your withholding elections.  

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MySamCERA – Upcoming Scheduled Maintenance
The MySamCERA member portal and mobile app will be down for scheduled maintenance on Friday, November 4 from 7:30 AM to 8:00 AM

We will be using this time for scheduled maintenance on the member portal and mobile app, and we appreciate your patience and understanding. If you have questions, please email samcera@samcera.org.

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2022 Annual Comprehensive Financial Report
Learn about SamCERA’s financial standing through fiscal year ending June 30, 2022 in the newly released 2022 Annual Comprehensive Financial Report.

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Board of Retirement Investment Information
2022 November Board Meeting

At its meeting on November 1, 2022, the Board of Retirement approved a $25 million commitment to Davidson Kempner Opportunities Fund VI LP, as part of SamCERA’s Debt-Related/Special Situations portfolio within Private Equity.

No further board action was taken related to SamCERA’s investment commitments or hires.

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Board of Retirement Investment Information
2022 September Board Meeting

At its meeting on September 27, 2022, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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