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.
On September 28th, the VCERA Board Chair appointed an ad hoc committee to address potential litigation over VCERA’s implementation of Alameda. That committee, as well as VCERA staff and fiduciary counsel will be meeting with the County and the unions and their respective counsels on Thursday, October 8th.
VCERA’s fiduciary counsel sent a letter to the counsels participating in the October 8th meeting, which addresses the various issues and objections raised by both the County and employee groups and their counsels in regard to VCERA’s proposed implementation of the Alameda ruling. We provide this letter to help answer questions you may have.
We recognize the impact this ruling and its implementation has on the VCERA membership, and we look forward to discussing these important issues with representatives of the County and employee groups. We welcome your virtual attendance at the scheduled public meeting of the Board of Retirement on October 12th, the agenda for which will be posted on the VCERA website at www.vcera.org.