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Member Portal Maintenance on February 23-24
The Member Portal will be unavailable on February 23 from 11 p.m. to February 24 at 1:00 a.m. due to system maintenance.
2020 Cost-of-Living Adjustment (COLA)
The 2020 cost-of-living adjustment (COLA) for eligible retirees, beneficiaries and other payees with a retirement date of April 1, 2020 or earlier will be reflected in retirement benefit payments on April 30, 2020:
Form 1099-Rs Mailed by January 31
Form 1099-Rs reporting the 2019 retirement earnings of retirees and other VCERA payees were mailed by January 31, 2020. The 1099-Rs are also available in Member Portal accounts. Members are encouraged to consult a qualified tax preparer with questions about their 2019 taxable income.
Interest Posted to Member Accounts
Pursuant to its Interest Crediting Policy, VCERA posted 0.96% in interest to active and deferred member contribution accounts as of December 31, 2019. Only eligible member accounts in existence on June 30, 2019 received the interest payment.
Changes in Retiree Health Insurance Impacts Net Benefit Payments
Due to the increased cost of County-sponsored health insurance plans, some VCERA retirees have noticed a change in their December 31, 2019 net benefit payment. Insurance plan premium changes took effect with the December payment in order to prepay the benefits available to enrollees in January 2020. Consequently, VCERA retirees enrolled in one of the County-sponsored plans will see a change in their net benefit payment from VCERA.
VCERA has no control over the cost of retiree health insurance. If you have questions about a County-sponsored plan, please contact Patty Vandewater at patty.vandewater@ventura.org or (805) 662-6791.
General Member Special Election Results
On September 26, 2019, VCERA received from the Ventura County Elections Division the certified results of the Board of Retirement’s General member special election held on September 17, 2019. The official canvass indicated that Jordan Paul Roberts, a Fire Dispatch Supervisor in the Fire Department, received a plurality of the 894 votes cast among ten candidates on the ballot. Mr. Roberts will serve the remainder of a three-year term on the Board that ends on December 31, 2021.
Non-Vested $27.50 Supplemental Benefit Resolutions
On March 17, 2003, the Board of Retirement adopted a resolution approving a supplemental, non-vested cash payment in the amount of $27.50 per month to all current and future retirees and their eligible beneficiaries who qualify for the supplemental, vested benefit of $108.44 per month. “Non-vested” means that the benefit is not a guaranteed, lifetime allowance.
Farewell to Trustee Johnston
The Board of Retirement bid farewell to trustee Chris Johnston at its March 25, 2019 Business Meeting. A veteran of the Board for nearly 17 years, Mr. Johnson will soon retire after working for the Ventura County Fire Department for 38 years, most recently as a fire captain.
Notice to Members: Marital or Domestic Partner Separation
Your VCERA retirement benefit is considered a community property asset. Therefore, if you had a marital or domestic partner separation during your membership, your former spouse or partner may be entitled to a portion of your benefit. Please notify VCERA well in advance of submitting your Retirement Application Packet. Division of this asset must be resolved before VCERA can pay a retirement benefit or refund your contributions.
“Pensionable Compensation” Pay Items
On October 19, 2015, the Board of Retirement took action on specific pay items considered “pensionable compensation.” Click on the links below to view the Board’s 2014 resolution regarding “pensionable compensation” determinations and two addenda listing includable pay items.
Resolution Regarding Pensionable Compensation Determinations
Addendum 1 (effective January 1, 2013)
Addendum 2 (effective January 3, 2016)