Alameda Implementation Status Report – 9/11/2023
On September 11, 2023, VCERA staff updated the Board of Retirement on the progress of the Alameda implementation, which is divided into two phases:
- Phase 1 (May 2023 – September 2024) is primarily focused on the efforts needed to calculate mass corrections to pensionable earnings and member contributions, which involves vendor and partner coordination, system enhancements and testing, data cleanup, system queries and reporting, and more.
- Phase 2 (September 2024 – September 2025) involves staff performing calculations to individual member accounts to correct monthly retirement benefits (prospectively) and process contribution refunds/rollovers with interest to all affected members.
The entire project is expected to last approximately two years, depending on a variety of factors.* Monthly retirement benefit corrections and contribution refunds will not begin until Phase 2. As a reminder, VCERA will not pursue collection of any net overpaid retirement benefits resulting from the Alameda implementation.
At this time, at least several hundred retirees and several thousand active and deferred members will be impacted in some way by the Alameda corrections. For example, the accounts of 850+ retirees and 6,500+ active/deferred members must be corrected just for flex credit. The system enhancements in Phase 1 will enable staff to perform the Phase 2 corrections more efficiently, but impacted member accounts must still be evaluated individually before benefits can be adjusted and refunds issued.
VCERA will provide regular updates to the Board on the Alameda implementation and will publish updates at www.vcera.org. Please refer to the Alameda Decision FAQs and Glossary for additional information about the Alameda Decision.