Service Retirement


1.When will I be eligible for a service retirement?

Please refer to our Benefit Formula page.

2.What determines my benefit amount?

Please refer to My Retirement Amount page.

3.How do I optimize my retirement?

For information, please refer to our Optimizing Your Retirement page.

4.Can I change my mind after I have signed an option?

Signing for your retirement option is considered a binding contract. After signing, your option selection is irrevocable and will remain the same option you have selected for the duration of your retirement. Please be sure that you have read and understand about all of the options. 

5. When will I receive my final options?

Options are usually mailed to your home address 2-4 weeks after your payoff amounts have been paid in your final paycheck. If you have established reciprocity it usually takes longer because your wage verification information needs to be submitted to MercedCERA from the other system before we can complete your options.

6.When will I receive my first retirement payment?

You usually receive your first retirement payment 4-8 weeks after your retirement date, although it could take longer if you have established reciprocity. Your first retirement check may be slightly higher than your actual retirement benefit as it usually includes any partial payments from the previous month.

7.How often will I get paid?

Retirement benefits are paid once a month on the last working day of the month.

8.Can I change my beneficiary?

Option number 1 is the only option that allows you to change your beneficiary after retirement. If you have selected Options No. 2, 3, or 4 you may not change your beneficiary at anytime. For those options, the amount of your retirement allowance is set according to both your age and the age of the beneficiary you select at retirement.

9.What happens to my benefit if my beneficiary dies before I do?

You new survivor will only receive contributions that are left on deposit (if any and if you selected the Unmodified or Option 1) and the one time lump sum death benefit payment (if applicable). He/she will not receive a continuance, nor will your benefit increase.

10.What types of deductions are taken from my retirement check?

Please refer to our Deductions page.