Agendas & Minutes 
2010 - 2011 Member Contribution Rates
An employee's contribution is based upon their age at time of entry to the plan (within the closest 6 months of their birthday). Employee rates for each tier are split between a basic and cost of living (col) percentage amounts. Both the basic and col percentages are broken out further into two separate amounts. The rates are broken out this way because StanCERA retirement is integrated with Social Security. The first percentage rate is applied to the first $161.54 of the retirement eligible salary paid (based upon a bi-weekly payroll) and the second percentage rate is applied to the remainder of the retirement eligible salary paid.
A general member who enters the retirement system at age 30, in Tier 5, earning $1,000 of retirement eligible pay per bi-weekly payroll, their retirement contributions would be calcuated as follows:
| Total | |||||
| Bi-weekly retirement pay |
$161.54 |
|
$838.46 |
|
|
|
Basic % (from table) |
3.75 |
% |
5.63 |
% |
|
|
|
$6.06 |
|
$47.21 |
|
$53.27 |
|
|
|
|
|
|
|
|
Bi-weekly retirement pay |
$161.54 |
|
$838.46 |
|
|
|
Col % (from table) |
1.07 |
% |
1.60 |
% |
|
|
|
$1.73 |
|
$13.42 |
|
$15.14 |
|
Total bi-wwekly retirement |
|
|
|
|
|
|
contribution |
|
|
|
|
$68.41 |
Employee Contribution Calculator
|
Fiscal Year 2010/2011 |
Fiscal Year 2011-2012 |
| Safety Tier 2 Rates | General Tier 2 Rates |
| General Tier 2 Rates (Keyes Community Services District) | Safety Tier 5 Rates |
| Safety Tier 4 Rates | |
| Safety Tier 2 Rates | |