The San Francisco Employees’ Retirement System (SFERS) administers two benefit programs for active and retired members: a Pension Plan (defined benefit plan) and a 457(b) Deferred Compensation Plan (defined contribution plan). The SFERS Pension Plan is a defined benefit plan that provides service retirement benefits calculated using a formula based on age at retirement, years of service and final compensation. The day-to-day activities of the system including investments, member services, finance, actuarial services, information technology, human resources and communications.