San Mateo County Employees' Retirement Association
San Mateo County Employees' Retirement Association
At its meeting on February 25th 2025, no reportable 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.
At its January 28, 2025 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:
|
Retiree or Beneficiary’s Plan Type |
Date of Retirement | 2025 COLA % |
COLA BANK % |
|---|---|---|---|
|
Plan 1 – General and Safety | On or before 4/1/2025 | 3.0% | n/a |
|
Plan 1 – Probation | On or before 4/1/2025 |
3.0% | n/a |
|
Plan 2 – All Members | On or before 4/1/2025 |
3.0% |
n/a |
|
Plan 3 |
n/a |
n/a |
n/a |
|
Plan 4, 5, 6, 7 – All Members | On or before 4/1/2025 |
2.0% |
n/a |
This COLA applies to eligible retirees and beneficiaries who retire on or before April 1, 2025, and the amount of the COLA will vary depending on the retirement plan.
The COLA for Plan 1 General, Safety, and Probation members is 3.0. The COLA for Plan 2 members is 3.0%, and the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 members do not receive a cost-of-living increase.
All COLAs will be paid beginning with the April 30, 2025 benefit payment.
Current employees considering retirement: If you want to take advantage of this year’s COLA, you must retire on or before April 1, 2025. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit payment on April 30.
