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March 27, 2023 Upcoming Board Meeting: Alameda Flex Credit Resolution
At the upcoming March 27, 2023, VCERA Board of Retirement meeting, the Board will be reviewing a proposed Resolution to implement the exclusion of in-kind benefits per the California Supreme Court’s July 30, 2020, ruling in ALAMEDA COUNTY DEPUTY SHERIFF’S ASSN. v. ALAMEDA COUNTY EMPLOYEES’ RETIREMENT ASSN. The Resolution defines what portion of allowances received under the County’s flexible benefits program may be included in compensation earnable for “Legacy” members (hired before January 1, 2013) if the Resolution is later adopted at the April 17, 2023, meeting.
Disclaimer for VCDSA Pension Calculator
It has come to VCERA’s attention that the Ventura County Deputy Sheriffs’ Association (VCDSA) recently released a pension calculator application to its members. VCERA disclaims the accuracy of this pension calculator, as none of the calculations generated by this pension calculator have been tested, reviewed or verified by VCERA. An estimate produced by the VCDSA or any other pension calculator does not create any right to receive benefits under VCERA.
Form 1099-Rs Mailed January 31
Form 1099-Rs reporting the 2022 retirement earnings of retirees and other VCERA payees will be mailed by January 31, 2022. The 1099-Rs are available in Member Portal accounts. Members are encouraged to consult a qualified tax preparer with questions about their 2022 taxable income.
For information regarding income tax, please click here.
2023 Cost-of-Living Adjustment (COLA)
The 2023 cost-of-living adjustment (COLA) for eligible retirees, beneficiaries and other payees with a retirement date of April 1, 2023 or earlier will be reflected in retirement benefit payments on April 28, 2023:
New Federal Tax Withholding Form W-4P Form Starting January 1, 2023
The Internal Revenue Service (IRS) revised the federal tax withholding form W-4P in 2022. VCERA had a temporary grace period but will begin using the revised 2023 version of Form W-4P on January 1, 2023.
If you plan to change your tax withholding at the end of 2022 or beginning of 2023, you will need to use the right form as described below:
Governor Veto of Assembly Bill 826 and Impact on VCERA Legacy Members
On September 29, 2022, Governor Newsom vetoed Assembly 826, a bill sponsored by SEIU and the County of Ventura.
Member Portal Multifactor Authentication
To provide additional levels of security, VCERA has implemented Multifactor Authentication (MFA) on our Member Portal. MFA will assist with prevention of cybersecurity incidents, protect your personal information, and further secure your data against identity theft. MFA requires you to provide two forms of authentication (Member Portal password and one-time PIN code), before access to the Member Portal is granted.
2022 Annual Benefit Statements
VCERA’s 2022 annual benefit statements were mailed to all active VCERA members on June 9, 2022. If you have any questions about your statement, please contact VCERA at (805) 339-4250 or VCERA.info@ventura.org.
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).
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.