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2022 Cost-of-Living Adjustment (COLA)
The 2022 cost-of-living adjustment (COLA) for eligible retirees, beneficiaries and other payees with a retirement date of April 1, 2022 or earlier will be reflected in retirement benefit payments on April 29, 2022:
Form 1099-Rs Mailed January 31
Form 1099-Rs reporting the 2021 retirement earnings of retirees and other VCERA payees were mailed on January 31, 2022. The 1099-Rs are also be available in Member Portal accounts. Members are encouraged to consult a qualified tax preparer with questions about their 2021 taxable income.
For information regarding income tax, please click here.
RFP for Auditing Services
An RFP for Auditing Services was issued on November 15, 2021. The RFP is attached.
July 26, 2021 Board of Retirement Resolution Re: Flex Credit
On July 26, 2021, the VCERA Board of Retirement adopted a Resolution regarding the flexible credit benefit amount that may be included in compensation earnable for “Legacy” members (hired before January 1, 2013).
Prior to the 2020 Plan Year, the County of Ventura’s flex credit benefit was provided in the same amount to all eligible employees within each bargaining unit. However, beginning January 1, 2020, employees In many bargaining groups were offered a “three-tiered” flex credit based on the number of dependents they were covering.
Excluded PEPRA pay codes
On April 19, 2021, the Board of Retirement approved to ratify staff determination on pay codes impacted by the October 12, 2020, Resolution regarding Alameda implementation for compensation earnable and pensionable compensation.
The attached list of pay codes reflects those used for the pay items that are not pensionable under the Resolution’s criteria.
Oct. 12 Board Meeting Regarding Alameda Decision
On October 12, 2020, the VCERA Board of Retirement adopted a Resolution (Redline Version and Clean version), implementing the California Supreme Co
Alameda Decision Implementation Update from Retirement Administrator, Linda Webb
Dear County Employees & VCERA Members,
On October 12, 2020, the VCERA Board of Retirement will be considering a matter of general interest and importance to VCERA members regarding the impact of the California Supreme Court Alameda decision on VCERA. You may have received an email containing two letters from the County on this topic.
VCERA Mourns the Passing of Chairman Trustee, William Wilson
The Ventura County Employees’ Retirement Association (VCERA) is mourning the loss of Chairman Trustee, William Wilson, who passed away on July 11, 2020. Trustee Wilson was appointed to the VCERA Board by the Ventura County Board of Supervisors on January 30, 1995.
“Trustee Wilson was a man of integrity, and as a trustee he provided strong and steady leadership,” said Linda Webb, VCERA’s Retirement Administrator. “His expertise, financial acumen and common sense approach will be missed. His contribution to VCERA and the entire community can’t be overstated.”
CARES Act
Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law on March 27, 2020, to ease the financial impact of the COVID-19 crisis. VCERA members receiving COVID-19 related distributions from retirement accounts from January 1, 2020, to December 30, 2020, may be eligible for tax relief upon filing their tax returns. Please consult a qualified tax advisor for questions relating to eligibility rules and applicable relief provisions.
Form 1099-Rs Mailed by January 31
Form 1099-Rs reporting the 2021 retirement earnings of retirees and other VCERA payees will be mailed by January 31, 2022. The 1099-Rs will also be available in Member Portal accounts. Members are encouraged to consult a qualified tax preparer with questions about their 2021 taxable income.