Receiving Your Retirement Benefit

Once you retire from SCERS, your monthly benefit becomes your financial lifeline—and SCERS is here to ensure it’s delivered consistently, securely, and on time. This page explains how and when you’ll receive your payments, what the benefit includes, and what to expect during your first months as a retiree.

When Payments Begin

Your retirement becomes effective the date you request, but no earlier than the day after your last day of work, and your first benefit payment will typically arrive by the end of the following month. 

• SCERS pays retirement benefits on the last business day of each month.
• Payments are issued in arrears, meaning each payment covers the previous month’s retirement service.
• If you retire mid-month, your first benefit will be prorated based on your retirement effective date.

Receipt of Initial Benefit Payment

While SCERS strives to issue the initial benefit payment within 30-45 days of terminating employment, this timeline can be extended during peak retirement months (usually, the first quarter of the calendar year). This timeline can also be extended as a result of certain events, including the following:

• Community Property Issues Not Addressed Before Retirement
  If you need to divide and assign a portion of your SCERS benefits as a result of an agreement with a former spouse, then you must obtain a domestic relations order (“DRO”). Failure to obtain a DRO ahead of your desired retirement date can extend both the processing of your retirement calculation and the time it takes to receive your first payment from SCERS.
• Reciprocal Service After SCERS
  If you are a Reciprocal Member of SCERS and your highest Final Compensation was earned in employment covered by a Reciprocal System, SCERS cannot calculate your benefit until we receive your Final Compensation information from that retirement system. Any delay in receiving this information can extend both the processing of your retirement calculation and the time it takes to receive your first full monthly retirement benefit allowance payment from SCERS.
• Optional Settlement 4 Selection
  If you elect an Optional Settlement 4 (which allows a member to provide a tailored Continuance to multiple beneficiaries) when you retire, then SCERS will need to have your benefit calculated by the plan’s actuary. Because this individualized benefit calculation usually takes longer to complete than a standard benefit calculation, Optional Settlement 4 requests can extend both the processing of your retirement calculation and the time it takes to receive your first monthly retirement benefit allowance payment from SCERS.
• Final Compensation Review
  If you retire on or after January 1, 2013, the law requires SCERS to determine whether any element of compensation you received during your Final Compensation Period was paid for the purpose of enhancing your retirement benefit. Because it may take several weeks for SCERS to assess all of the required pay elements, please note that this review process can delay the time it takes to receive your first monthly benefit allowance payment from SCERS.

Payment Delivery: Direct Deposit

SCERS issues benefit payments via direct deposit to your financial institution.

• You must complete the Authorization for Direct Deposit (Form 6186) form as part of your retirement application.
• If you change banks after retirement, submit an updated form as soon as possible to avoid delays.
• Direct Deposit changes may take 1-2 pay cycles to be effective. 

SCERS can only deposit to U.S. financial institutions that accept ACH transfers. This includes most banks and credit unions that have a nine-digit routing number. 

What Your Monthly Benefit Includes

SCERS benefits are calculated based on your:

• Years of service credit
• Final compensation
• Age at retirement
• Tier-specific factors and elected payment option

Each monthly benefit includes up to three components:

You’ll receive a breakdown of these components on your first pay advice. 

Payment Schedule

• Payments are issued on the last business day of each month.
• If the last day falls on a weekend or holiday, your deposit will arrive on the preceding business day.
• The exact date is posted annually on the SCERS website.

What to Expect After Your First Payment

• Your first benefit may take 30–45 days to process after your retirement effective date.
• Once your benefit is finalized, you’ll receive a confirmation letter with your monthly amount.
• Going forward, you can access your payment history and tax documents online on your MySCERS account.

Questions About Your First Payment?

If it has been two months since retirement and you haven’t received a payment or confirmation, contact SCERS at (916) 874-9119. We’re happy to assist.