Retirement Planning

Overview

Wherever you are in your career, it’s never too early to plan for your future.

MercedCERA hosts retirement workshops with the County’s Deferred Compensation Plan and our local Social Security Office. MercedCERA presents an overview of the retirement process, eligibility requirements, benefit calculation factors, retirement planning tips and more.

Overview

My Retirement Amount

MercedCERA is a Defined Benefit Plan. As such, the calculation of your lifetime monthly benefit is based on clearly defined factors. These factors are:

Overview

My Final Average Salary (FAS)

The final average salary (FAS) or also referred to as the final average compensation (FAC) is the average monthly salary used by MercedCERA to calculate your retirement benefit.

Overview

The Age Factor

Ages used in determining retirement allowances are stated in terms of quarter years. You will receive an incremental age adjustment, which slightly increases your benefit for each quarter of a year increase in your age up to age 50 for safety members and age 60 for general members. 

Overview

Service Credit

Service credit is based on actual hours worked, excluding any overtime. The following types of service credit, if purchased, can count toward a member’s total service credit: