City
Port
AirportSDCERS Board Approves Annual Supplemental Benefit for 2026
November 13, 2026
At its November 13, 2026 meeting, SDCERS’ Board of Administration approved payment of the Annual Supplemental Benefit for eligible retirees and continuance beneficiaries. The Annual Supplemental Benefit is paid in years when the fund’s investment earnings are sufficient to qualify, according to a set formula defined in the plan documents.
In addition, the Corbett Settlement Increase (“Corbett benefit”) will be paid to eligible retirees and continuance beneficiaries in years when the Annual Supplemental Benefit is paid. If you are eligible for one or both benefits, payment will be included in your November 2026 monthly pension payment, paid on the last business day of the month.
There are minimum service credit requirements to qualify for the Annual Supplemental benefit (5 or 10 years, depending on hire date and plan sponsor), as well as restrictions based on initial date of hire – the following are not eligible for the Annual Supplemental Benefit:
- City Members hired on or after July 1, 2005;
- Port Members hired on or after October 1, 2005; and
- Airport Members hired on or after October 3, 2006.
Payment amounts are based on years of service credit (excluding reciprocal service credit), calculated at a rate of $30, $45, $60, or $75 per year of service credit, depending on the year of retirement. Continuance beneficiaries of eligible retirees are also entitled to this benefit. Their payment is prorated based on the ratio of their monthly benefit to that which was received by the deceased retiree.
The eligibility requirements for the Annual Supplemental Benefit and Corbett benefit are described in our FAQs under “Annual Supplemental Benefit, Corbett, COLA, COL Annuity.” Here, you will also find a more detailed description of how these benefits are calculated.
In addition to the requirements outlined in the FAQ’s, in order to be eligible for the 2026 Annual Supplemental Benefit, an otherwise eligible retiree or continuance beneficiary must have been:
- Alive on October 1, 2026, and
- Eligible to receive a monthly pension benefit payment on October 1, 2026.
If an eligible retiree died on or after October 1, 2026, the retiree’s continuance beneficiary is not eligible for their own Annual Supplemental Benefit this year. In this case, the retiree’s Annual Supplemental Benefit payment will be included in the $2,000 Retiree Death Benefit and Other Payable Monies, which is paid to the beneficiary(ies) designated to receive that death benefit.