RECIPROCITY INFORMATION BOOKLET - SJCERA| …

1 RECIPROCITY . INFORMATION . BOOKLET . SAN JOAQUIN. COUNTY EMPLOYEES'. RETIREMENT ASSOCIATION. 6 SO. EL DORADO STREET. SUITE 400. STOCKTON, CA 95202. PHONE (209) 468-2163 FAX (209) 468-0480. January 2005. This is intended to provide you with general INFORMATION for members who have changes in employment covered by different public retirement systems. The statements in this BOOKLET are general and we have made them as simple as possible while still being accurate. Because RECIPROCITY is an agreement between retirement systems and retirement bene t provisions vary, you should make sure that you know the potential advantages and disadvantages of RECIPROCITY before you change employers. RECIPROCITY bene ts are governed by the plan documents of the various retirement systems.

2 These plan documents are subject to change. If there are any discrepancies between those governing authorities and the INFORMATION in this BOOKLET , the governing authorities have precedence. TABLE OF CONTENTS. RECIPROCITY .. 1. Public Retirement Systems With RECIPROCITY .. 1. RECIPROCITY Requirements .. 2. Important Restrictions: .. 2. RECIPROCITY Bene ts .. 2. Establishing RECIPROCITY .. 3. RECIPROCITY Examples .. 4. Retirement Coordination When Changing Retirement Systems .. 5. -i- RECIPROCITY PUBLIC RETIREMENT SYSTEMS WITH. RECIPROCITY . As a member of the San Joaquin County Employees' Retirement Association you are eli- California Public Employees' Retirement gible for the bene ts of RECIPROCITY . RECIPROCITY is System (CalPERS).

3 An agreement among public retirement systems All agencies whose employees are members to allow members to move from public employer of CalPERS including state agencies, county to public employer within a speci c time limit, schools, various cities, counties and special dis- without losing some valuable retirement and re- tricts. lated bene t rights. County Systems There is no transfer of funds or service credit Counties that maintain retirement systems under between retirement systems when you establish the County Employees Retirement Law of 1937: RECIPROCITY . You retain your membership in the Alameda former system (deferred member) and become Contra Costa a member of the system covered by your new Fresno employment. You are subject to the membership Imperial and bene t obligations and rights of each system Kern (for example, minimum retirement age), except as Los Angeles modi ed by the RECIPROCITY agreement.

4 Upon re- Marin tirement, you will receive separate retirement al- Mendocino lowances from each system and you must apply Merced to retire from each system separately. You must Orange retire on the same date from all public retirement Sacramento systems participating in a reciprocal agreement San Bernardino for all bene ts of RECIPROCITY to apply. San Diego San Joaquin The bene ts arising from movement to a recip- San Mateo rocal retirement system are explained in this Santa Barbara BOOKLET . A list of reciprocal agencies and their Sonoma public retirement systems that have established Stanislaus RECIPROCITY with CalPERS and, by extension, the Tulare San Joaquin County Employees' Retirement Ventura Association is also provided.

5 Independent Public Agency Retirement Systems As you read this INFORMATION , please note that Public agencies maintaining their own retirement San Joaquin County Employees' Retirement systems which have contracted with CalPERS to Association's authority extends only to apply- provide the bene ts of RECIPROCITY and the dates ing and implementing the County Employees'. that the reciprocal agreements were established: Retirement Law of 1937. It does not extend to laws and regulations under which other public California Administrative Services Authority retirement systems are administered. Questions (7/1/00). relating to rights, bene ts and obligations under City of Concord (11/27/70). any other public retirement system should be ad- City of Costa Mesa (safety employees only).

6 Dressed directly to that system. (4/1/78). City of Fresno (Miscellaneous and Safety Retirement Systems) (2/18/02). City of Oakland (non-safety employees only) (4/1/71). City of Pasadena (Fire and Police Retirement System) (5/4/01). -1- City of Sacramento (11/4/74) RECIPROCITY REQUIREMENTS. City of San Clemente (non-safety employ- ees only) (1/1/85) You must meet certain legal requirements in or- City of San Diego (6/25/92) der to receive the full bene ts of RECIPROCITY when City and County of San Francisco (7/29/88) changing employment: City of San Jose (Misc. 12/9/94; Safety 9/30/94) You must continue your membership in the Contra Costa Water District (3/2/88) rst retirement system by leaving your service County of San Luis Obispo Pension Trust credit and contributions (if any) on deposit (4/19/84) with that system; and East Bay Municipal Utility District (4/16/84) You must enter employment covered by the East Bay Regional Park District (safety em- new retirement system within 6 months of ployees only) (7/1/96) leaving employment covered by the rst sys- Long Beach Schools Business tem; and Management Authority (7/1/98).

7 Los Angeles County Metropolitan You must retire on the same date under both Transportation Authority (Non-Contract systems by ling a retirement application with Employees' Retirement Income Plan, for- each system respectively. merly Southern California Rapid Transit District) (5/12/71) Some exceptions exist: Los Angeles City Employees' Retirement System (7/14/97) Terminated members The County Employees' Retirement Law of Note: New agencies may have contracted with 1937 (1937 Act) that governs SJCERA al- CalPERS for RECIPROCITY since this BOOKLET was lows certain current or former safety mem- published. You can contact CalPERS at 1-888- bers who have terminated their membership CALPERS (225-7377) to nd out if your system and withdrawn their contributions but are offers this bene t.

8 Now employed under a reciprocal retirement system to redeposit contributions and pos- RECIPROCITY and Concurrent Retirement sibly re-establish RECIPROCITY . If you think this Through Legislation might apply to you, contact the retirement RECIPROCITY and Concurrent Retirement has been system from which you have terminated your established with CalPERS through state law with membership. the following systems: Some retirement systems allow members California State Teachers Retirement System who have terminated membership and with- (CalSTRS) drawn their contributions who subsequently Legislators' Retirement System (LRS) establish membership in a reciprocal retire- Judges' Retirement System (JRS) ment system to redeposit their contributions Judges' Retirement System II (JRS II) with that former system and possibly re-es- University of California Retirement Plan tablish RECIPROCITY .

9 If you think this might (UCRP) apply to you, contact the retirement system from which you withdrew your contributions. If you are moving to employment covered under one of the retirement systems listed on pages 1 Movement between systems in the past and 2, you should check with your current and The law specifying the maximum time period new retirement systems to determine if any of the between separation under one system and reciprocal bene ts or requirements will apply. employment under another has changed over the years. In addition, certain restrictions may exist if you became employed under an independent retirement system before the effective date of that system's reciprocal -2- agreement with CalPERS. Further, certain Highest nal compensation restrictions also exist with CalSTRS, JRS, If you retire concurrently from all reciprocal JRS II and UCRP.

10 If you changed retirement systems, your highest rate of pay under any systems in the past and are not sure if reci- one reciprocal system will be used by each procity applies to you, contact your current reciprocal system in calculating your nal and former retirement system(s). compensation. Some systems use one-year highest nal compensation; others use three- IMPORTANT RESTRICTIONS: year highest nal compensation. Concurrent employment Quali cation for Bene ts RECIPROCITY does not apply when your em- Service earned under both systems may be ployment under the rst system overlaps your used to meet each system's vesting and re- employment under the new system. For the tirement eligibility requirements. bene ts of RECIPROCITY to apply, you must be separated under the rst system prior to join- Disability Retirement ing the new system.