FROM: Christina Cintron, Chief of Member Services
SUBJECT: Informational Item: Returning Retiree Program Overview and Metrics
RECOMMENDATION:
title
Discuss potential refinements to the Returning Retiree Program.
body
BACKGROUND:
Over the course of the last several months, the Board has had the opportunity to evaluate whether to approve extensions of time for SBCERA retirees to be employed by SBCERA employers. The Board requested that staff bring back a discussion item on potential revisions to the existing policy, and staff has also incorporated some program metrics into this discussion item for context.
A "returning retiree" is a former 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, temporary employment under defined circumstances-while protecting both the fund and retirees from unintended consequences.
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. Based upon 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.
Evolution of SBCERA's Returning Retiree Policy
Since its original adoption in 2015, SBCERA's Benefits Policy No. 032 (Retirees Returning to Work) ha...
Click here for full text