Latest News

Overview

Latest News

The latest news and announcements for OCERS members and stakeholders.

 

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Updated Message from OCERS CEO Steve Delaney
May 7, 2020 Update on OCERS Operations and Financial Strength

OCERS CEO Steve Delaney

It was six weeks ago on Wednesday March 18, 2020 that the OCERS staff departed our building and began working remotely to abide by the Governor’s directive that all Californians “shelter in place”, in order to protect each of us from the COVID-19 pandemic.

I want to take this opportunity to reach out to our nearly 50,000 members to assure each and everyone one of you that the Orange County Employees Retirement System (OCERS) is strong, financially secure, and that our investment portfolio is safe and well positioned to face the challenges of market volatility.

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A Message from OCERS Chief Executive Officer Steve Delaney on the OCERS Response to COVID-19
March 19, 2020 Update

Steve Delaney photograph

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.

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OCERS’ Portfolio Returns 14.4% in 2019

Members of the OCERS Investment Committee

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.

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Board of Retirement Approves 3% COLA

Members celebrating Cost-of-Living Adjustment for 2020

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.

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Board of Retirement Members Sworn Into Office

Board Members given Oath of Office on January 21, 2020

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. 

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Orange County Board of Supervisors Celebrates OCERS 75th Anniversary

A celebration of OCERS' 75th Anniversary at the Orange County Board of Supervisors

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:

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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.