Thu
05
JAN

2012 New Federal and California State Tax Rates
New Federal and California Tax withholding rates went into effect January 1st, 2012. Payees may review/change their Federal and California State withholding elections online by logging into their account on the Member Information Center. A printable form that may be submitted by mail is also available under the Forms and Publications page.

Fri
23
DEC

2012 Retiree Payment Schedule
OCERS payees will see their next monthly benefit payment on January 3, 2012, the first business day of the year. Click here to view the 2012 Payment Schedule.

Thu
15
DEC

Charles Packard to serve on Board of Retirement
The Orange County Board of Supervisors has appointed Charles Packard to serve on the Orange County Employees Retirement System (OCERS) Board of Retirement. Mr. Packard is a partner at Pacific International Capital, LLC, and brings more than 30 years of experience in finance and investments to his post at the retirement system. The Board of Supervisors also reappointed Reed L. Royalty and Thomas E. Flanigan to continue to serve on the Retirement Board.

Tue
22
NOV
2011

Legislative Update Click here to read the latest legislative update report.

12-Point Pension Reform Plan and Summary of Ballot Initiatives
On Thursday, October 27th, Governor Jerry Brown proposed a 12-point pension reform plan for public employees. OCERS' most recent Legislative Update provides an analysis of Governor Brown's reform plan. In addition, a summary of pension-related ballot initiatives is also available.

Wed
26
OCT
2011

RV Kuhns selected to provide real estate consulting services
At its meeting today, OCERS’ Investment Committee selected RV Kuhns & Associates, Inc. to provide real estate consulting services. The objective is to sign the contract with RV Kuhns by Dec. 1, 2011. The selection of RV Kuhns & Associates, Inc. came at the end of a seven-month search..

Wed
26
OCT
2011

IRS announces 2012 contribution limits
The Internal Revenue Service (IRS) has announced cost of living adjustments (COLAs) affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. The elective contribution limit for employees who participate in 401(k), most 457 plans and 403(b) plans is increased from $16,500 to $17,000.
For full details on the pension plan limitations for 2012, including the limitation on the annual benefit under a DB plan under section 415(b)(1)(A), visit: http://www.irs.gov/newsroom/article/0,,id=248482,00.html

Fri
05
AUG
2011

OCERS announces settlement of Wachovia Bond & Preferred Securities Litigation for $627 Million
OCERS is set to receive a portion of a $627 Million settlement under the terms of a global settlement announced today. Click here to read the OCERS-issued press release.

Wed
25
MAY
2011

Update - Public Employees
Pension Reform Ballot Initiative

The Sacramento Bee reports that former State Assembly Member Roger Niello said he will not pursue a signature-gathering campaign for his pension reform proposal because of the diminishing likelihood of a special election on taxes later this year. "Our urgency is gone," he said. "The reason for filing this measure was to have something in line for a November election alongside the measure on taxes, but that appears unlikely to happen now." Gov. Jerry Brown is still calling for a special election as early as September to keep in place the current rates of income, sales and vehicles taxes.

Tue
07
JUN
2010

Video Library
OCERS has launched a Video Library where members and plan sponsors can view short, informational videos covering subjects such as reciprocity, retirement tips and available retirement options.
Click here to visit the Video Library.

Fri
04
JUNE
2010

Court Orders Release of Retiree Data

In December of 2009, OCERS was served with a Petition for Writ of Mandate filed in Orange County Superior Court. The Writ, filed by the California Foundation for Fiscal Responsibility (CFFR) and Marcia Fritz, sought the disclosure of the name, benefit amount and last agency worked by the member for all OCERS benefit recipients receiving a gross benefit exceeding $8,333 in any month throughout 2009.

On June 2, 2010, the Orange County Superior Court ordered OCERS to release the name, benefit amount and last agency worked by the member for all OCERS benefit recipients receiving a gross benefit exceeding $8,333 in any month throughout 2009. The Court's Minute Order can be viewed by following this link. CFFR has been directed by the court to prepare a Writ of Mandate for the Court's consideration. Once that Writ has been accepted by the Court and served upon OCERS, OCERS will prepare the information listed above and serve it on CFFR. If you have any questions about this issue, please contact David Lantzer at (714) 569-4885.