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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.
Notice of Special Election for General Member on Board of Retirement
Election for General Member Representative on VCERA Board of Retirement
Due to a vacancy on the Board of Retirement, a special election for a General member representative will be held on September 16, 2019. The elected member will serve from October 21, 2019 to December 31, 2021 and will be eligible for reelection.
Interest Posted to Member Accounts
Pursuant to its Interest Crediting Policy, VCERA posted 1.00% in interest to active and deferred member contribution accounts as of June 30, 2019. Only eligible member accounts in existence on December 31, 2018 received the interest payment.
2019 Annual Benefit Statements
VCERA’s 2019 annual benefit statements were mailed to all active VCERA members on April 2, 2019. If you have any questions about your statement, please contact VCERA at (805) 339-4250.
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.
2019 Cost-of-Living Adjustment (COLA)
The 2019 cost-of-living adjustment (COLA) for eligible retirees, beneficiaries and other payees with a retirement date of April 1, 2019 or earlier will be reflected in retirement benefit payments on April 30, 2019:
Form 1099-Rs Mailed on January 28, 2019
Form 1099-Rs reporting the 2018 retirement earnings of retirees and other VCERA payees were mailed on January 28, 2019. Members are encouraged to consult a qualified tax preparer with questions about their 2018 taxable income.
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)