San Francisco Employees' Retirement System
Category : Agency
The San Francisco Employees’ Retirement System (SFERS) administers two benefit programs for active and retired members: a Pension Plan (defined benefit plan) and a 457(b) Deferred Compensation Plan (defined contribution plan).
The SFERS Pension Plan is a defined benefit plan that provides service retirement benefits calculated using a formula based on age at retirement, years of service and final compensation.
The Deferred Compensation Plan is a voluntary IRS §457(b) Plan that allows participants to voluntarily defer receipt and taxation of a portion of their regular earnings until after they retire or separate from service.