Members Eligible to Choose A Retirement Benefit Plan Formula
Certain County of Orange and Superior Court employees who were active members of OCERS prior to January 1, 2013 who move to certain eligible positions with the County of Orange and Superior Court within six months if it is a new employer, or those who were employed by a reciprocal system prior to January 1, 2013, are required to elect their retirement benefit formula within 45 days of their hire date. Because the decision to select either the “1.62% at 65″ Plan P or “2.7% at 55″ Plan J is irrevocable, OCERS is providing a number of resources that can be viewed or printed to help eligible members select the benefit plan that’s better for them.
Below you will find links to information on contribution rates for both plans, as well as an overview of the impact your plan selection will have on your ultimate retirement allowance. Please spend some time and weigh your options carefully before selecting your benefit formula.
Resources
- County of Orange Benefit Formula Comparison Sheet
- Orange County Superior Court Benefit Formula Comparison Sheet
- New Employee Retirement Benefit Orientation Video Presentation
- County of Orange General Member Rates
- Orange County Superior Court Rates
- Information on 1.62% @ 65 DC plan - Great West (Empower Retirement)