FROM: Christina Cintron, Chief of Member Services
SUBJECT: Returning Retiree Program Overview and Metrics
RECOMMENDATION:
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Approve updates to Benefits Policy No. 032, Retirees Returning to Work
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BACKGROUND:
Over the course of the last several months, the Board has had the opportunity to evaluate whether to approve extension requests beyond the initial 18-consecutive months for SBCERA retirees who will be employed by SBCERA employers. At the July 3, 2025 Board meeting, the Board requested that staff bring Benefits Policy No. 032 to the Board for their review and consideration-particularly the sections related to extension requests that are brought to the Board for approval. As a result of this request, staff has prepared this report to provide a brief history of the evolution of the policy and to share program metrics with the Board.
At its August 21, 2025 meeting, the Administrative Committee reviewed the Returning Retiree Program and directed staff to prepare refinements to Benefits Policy No. 032, specifically related to further defining the term "limited duration." This direction reflected the Committee's interest in ensuring that the policy language is clear, consistently applied, and responsive to operational realities faced by participating employers.
A "returning retiree" is a SBCERA member who has retired and begun receiving a monthly pension benefit but is later re-employed by an SBCERA-participating employer. While post-retirement employment can be beneficial to address workforce gaps, such arrangements must comply with strict legal limitations to preserve the integrity of the retirement system and prevent abuse.
SBCERA's Benefits Policy No. 032 (Retirees Returning to Work) exists to ensure that returning to work does not result in inappropriate benefit continuation or accrual, and to enforce legal requirements such as hour caps, waiting periods, and compensation thresholds. The policy is designed to allow limited, temporar...
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