Latest News
A Message from OCERS Chief Executive Officer Steve Delaney on the OCERS Response to COVID-19
One of the more frustrating aspects of this COVID-19 crisis is the uncertainty that comes with dealing with something so new and so dangerous. I’m writing to reassure all OCERS members about certain facts of which you can be confident.
Your Benefit is Secure
The most important fact that you need to know is if you are retired, you will get your benefit, paid in full, paid on time. That’s a fact.
OCERS’ Portfolio Returns 14.4% in 2019
At OCERS’ Investment Committee meeting held on February 26, 2020, it was reported that OCERS’ net-of-fees return for 2019 was 14.4%. The 14.4% was more than double the actuarial assumed rate of return.
OCERS’ investment portfolio had a market value of $17.3 billion as of December 31, 2019, up from $15.1 billion on December 31, 2018.
Board of Retirement Approves 3% COLA
At its regular meeting held on February 10, 2020, the OCERS Board
of Retirement approved a 3% Cost-of-Living Adjustment (COLA) for
payees. The increase, effective April 1, will be reflected on the
May 1, 2020 payment.
Board of Retirement Members Sworn Into Office
At the regular OCERS Board of Retirement meeting held on Tuesday, January 21, 2020, Adele Tagaloa and Arthur Hidalgo were sworn into office as OCERS Board of Retirement Trustees. Clerk of the Orange County Board of Supervisors Robin Stieler also swore in returning members Charles Packard, Frank Eley and Shawn Dewane.
OCERS is administered by the Board of Retirement, a group of 10 trustees bound by the County Employees’ Retirement Law of 1937.
Orange County Board of Supervisors Celebrates OCERS 75th Anniversary
Lisa A. Bartlett, Chairwoman of the Orange County Board of Supervisors, led a formal celebration of OCERS’ 75th Anniversary with the presentation of a Resolution on January 14, 2020.
Among those who joined the Board of Supervisors were members of the OCERS Board – Charles Packard, Frank Eley, and Shari Freidenrich, OCERS Chief Executive Officer Steve Delaney, and Linda Robinson, co-president of the Retired Employees Association of Orange County (REAOC).
The resolution was signed by all five members of the Board of Supervisors and reads:
General Member & Retired Member Election
On October 22, 2019 the Board of Supervisors declared Adele Tagaloa to be duly elected to the position of General Member of the Board of Retirement for the term of office January 1, 2020 through December 31, 2022.
They also declared Frank E. Eley to be duly elected to the position of Retired Member of the Board of Retirement for the term of office January 1, 2020 through December 31, 2022.