About Us

San Luis Obispo County Pension Trust (SLOCPT) operates as an independent pension trust, classified as a "defined benefit plan" in accordance with section 401(a) of the Internal Revenue Code. This structure ensures that eligible Members receive a guaranteed lifetime monthly retirement benefit, calculated based on a predetermined formula. Factors considered in this formula include years of service (pension trust service credit), age at retirement, and average monthly final compensation.

Upon start of employment, all permanent employees are automatically enrolled as members of the SLOCPT, an integral component of their compensation package.

The funding for SLOCPT is multifaceted, drawing from Member contributions, employer allocations, and notably, investment earnings generated from these funds. Members contribute bi-weekly, utilizing pre-tax deductions facilitated through automatic payroll processes. Contribution rates are contingent upon factors such as the member's age at entry, employer, tier placement, and bargaining unit. It's imperative to note that accumulated contributions are reserved exclusively to finance future retirement benefits and are inaccessible for withdrawal unless the member separates from employment.

More information can be found here.