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Our Retirement Specialists are standing
by to help during regular business hours (Email during
evenings, weekends, and holidays) |
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Newsroom
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Legislative Update
Click
here
to
read
the
latest legislative
update
report. |
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Fri
13
SEPT |
OCERS employs sound
funding policy
Several recent
media articles have focused attention on
OCERS funding levels and ability to pay
promised benefits. All current and
future retirees should be confident in
OCERS' ability to pay those promised
benefits. As of July 31, 2013, OCERS'
portfolio had more than $10.6 billion.
OCERS, and other public pension systems
in California, use widely accepted
guidelines for long term planning,
controlling costs, management of
investment risk as well as controlling
the volatility of employee and employer
contributions. OCERS' policy to amortize
its unfunded liability is in full
compliance with the Governmental
Accounting Standards Board (GASB). An
in-depth article on this topic will be
published in the October issue of At
Your Service which is mailed to all
OCERS members as well as posted on
OCERS' Web site. |
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Wed
3
JULY |
2013/2014 Contribution Rates
Beginning pay period 15, new
contribution rates for employees and
employers go into effect. Many active
members will see a change in their
contributions. The new rates are based
on the 2011 Actuarial Valuation, which
can be viewed
here.
In addition,
the County of Orange and several special
districts have negotiated “reverse
pickup” amounts that will also go into
effect pay period 15. If you have any
questions about the contribution
deductions to your paycheck, including
the “reverse pickup,” please contact
your human resources department. To view
your contribution rates,
click here. |
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Fri
29
MAR |
COLA Update
The annual Cost Of Living Adjustment
(COLA) is
effective April 1, 2013. OCERS payees
will see that increase on their May 1,
2013 check.
Click here to read more. |
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MON
18
MAR |
STAR COLA approved by Board of
Retirement
At
its regular meeting on March 18, 2013,
the Board of Retirement approved payment
of STAR COLA (Supplemental Targeted
Adjustment for Retirees, Cost of Living
Adjustment) for the period April 1, 2013
through March 31, 2014.
STAR COLA is designed to
restore purchasing power for retirees
and survivors who have lost more than 20
percent of their purchasing power since
retirement, as measured by the
accumulation in a retired member’s COLA
bank.
Click here for more information. |
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TUES
19
FEB |
COLA approved by Board of Retirement
The Board of Retirement approved the
2013 Cost-of-Living
Adjustment
of 2 percent at its regular
meeting on February 19. Payees will see
an increase on their May 1, 2013 check.
Click here to read more. |
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FRI
01
FEB |
2012 1099-R's
1099-R's for 2012
were mailed on January 31, 2013.
Payees may also view copies of their
2012 1099-R statement online by logging
into their account on the
Member Information
Center.
Click here
for information on how to read your
1099-R statement. |
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Tue
29
JAN |
Important Notice
Payees
may notice effects of recent changes in
Federal tax rates on
their February 1 retirement
payment. |
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Wed
2
JAN |
Public Employees
Pension Reform
Act (PEPRA)
Update
Gov. Jerry Brown has signed Assembly Bill 340, a pension reform
measure that created the Public Employees
Pension Reform Act (PEPRA). OCERS' legal
department has prepared an analysis of
the legislative language and its impact.
Click here to read the document.
OCERS’ legal department has also
prepared an overview of how PEPRA
affects members prior to Jan. 1, 2013
click here and retirees
click here. |
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Wed
26
DEC |
2013 New Federal and California State
Tax Rates
New California Tax withholding rates
will go into
effect January 1, 2013. The
Federal tax rates for 2013 have not yet
been made available to OCERS.
OCERS will continue to use the 2012
rates until we are provided the new
rates. 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. |
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Thurs
6
DEC |
Revised
Economic Assumptions
To Impact
Contribution Rates
At a special board meeting held on
December 5, 2012, OCERS’ Board of
Retirement revised several economic
assumptions used by the actuary to help
establish contribution rates for both
members and employers (“Plan Sponsors”).
The newly-approved assumption changes
will impact both employee and employer
contribution rates in July 2014.
Click here to learn more. |
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Thu
19
JUN
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Girard
Miller named Chief Investment Officer
OCERS has announced the selection of
Girard Miller as the system’s new Chief
Investment Officer. He is scheduled to
assume the position on July 2, 2012.
Prior to assuming his new position, Mr.
Miller has served as a senior strategist
for retirement finance and public-sector
investments at the PFM Group. He is
known nationally as an authority on the
investment of public funds and
retirement plan design and investment
strategies. |
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