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Our retirement staff is standing
by to help answer general questions 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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THU
02
OCT |
Stockton Bankruptcy Court Ruling
The bankruptcy court in the City of
Stockton case issued an oral ruling
regarding the impairment of pensions in
bankruptcy cases. This case does not
immediately affect OCERS or any of its
plan sponsors.
Click here to read CalPERS' response
to the court's ruling. OCERS will
continue to monitor the Stockton case
and will update relevant information as
it becomes available.
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FRI
10
OCT |
AFSCME Contribution Rate Update
Effective pay period 21 AFSCME members
will begin paying their full member
contribution rate. Please
click
here to view your new rate.
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FRI
29
AUG |
The latest issue of OCERS by the Numbers
The latest edition of OCERS by the
Numbers provides a general overview of
our investment portfolio, demographics
and benefits as of December 31, 2013.
The document is now available to view or
print
here.
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FRI
18
JUL |
Contribution rates
update
Beginning July 2014, the majority of
OCERS active members will see an
adjustment in their contribution rates.
Contribution rate changes, whether up or
down, are normal for systems that
prefund retirement benefits. Please note
that any additional employee
contributions (including the "Reverse
Pickup") are not established by OCERS,
although actions by OCERS do impact the
amount by which the Reverse Pickup rate
increases or decreases from year to year.
The employee contribution rates are
based on age of entry and bargaining
unit. To see current and new rates that
go into effect around July 1,
visit here.
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FRI
30
MAY |
OCERS awarded top honors for investment
program
OCERS'
investment program has received a
prestigious 2014 Award for Excellence in
Government Finance.
Click here
to read the press release.
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THU
17
APR |
Proposed Amendment to Actuarial Funding
Policy
Upon recommendation of its actuary, the
Segal Company, the Orange County
Employees Retirement System is proposing
an amendment of its Actuarial Funding
Policy to include a cash out assumption
as part of the process used to set
employee contribution rates. The
impact of the cash out assumption on
employee contribution rates is discussed
at length in the Segal Company’s letter
to the Board of Retirement found
here. OCERS welcomes public comment on this
issue. Please send written
comments to OCERS at
info@ocers.org. Public
comments may be made at the April 21,
2014 meeting. This policy
change with the proposed policy language
was placed on the Board of Retirement
Regular Meeting agenda for February 18,
2014 for final adoption, however, this
matter was continued to April 21, 2014
so staff could gather more information for the
Board of Retirement to consider.
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FRI
17
JAN |
Proposed Amendment to Actuarial Funding
Policy
Upon recommendation of its actuary, the
Segal Company, the Orange County
Employees Retirement System is proposing
an amendment of its Actuarial Funding
Policy to include a Cash Out Assumption
in its actuarial assumptions. The
Cash out Assumption will be applied to
employee contribution rates. The
impact of the Cash Out Assumption on
employee contribution rates is discussed
at length in the Segal Company’s letter
to the Board of Retirement found
here. This notice is being
posted in compliance with the OCERS Cost
Impacting Policy found
here.
OCERS welcomes public comment on this
issue. Please send written
comments to OCERS at
info@ocers.org no later than
February 5. Public is also welcome to
comment at the January 21 and February
18 Board Meetings. This policy change
with the proposed policy language will
be placed on the Board of Retirement
Regular Meeting agenda for February 18,
2014 for final adoption. (Matter was
continued to a later board meeting.)
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MON
02
DEC
2013 |
OCERS sets record straight on
investments
The Orange County Register has
published a letter co-authored by OCERS'
Chair of the Investment Committee
and the Chair of the
Board of Retirement. The letter
addresses OCERS' successful approach to
long-term investing. Read the letter
here.
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FRI
13
SEPT
2013 |
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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