Welcome to the
Ventura County Employees’ Retirement Association
website!
The Ventura County Employees’ Retirement Association (VCERA)
was established in 1947 for employees of the County of Ventura pursuant
to the provisions of the County Employees’ Retirement Law of 1937
(California Government Code sections 31450 through 31897).
VCERA provides retirement benefit services to its more than
13,000 active and retired members.
* * * IMPORTANT INFORMATION * * *
ON FUTURE COST-OF-LIVING ADJUSTMENTS
For the year ended December 31, 2008, the Bureau of Labor
statistics reported the change in the CPI (Consumer Price Index) for
the Greater Los Angeles area to be 0.11%. When rounded in
accordance with the law, the applicable percentage becomes zero.
Based upon the above information, retired members eligible to
receive cost-of-living adjustments (General Tier 1 and Safety)
will receive the following:
Retirement Date CPI Adjustment
04/02/2008 to 04/01/2009 0.0%
04/02/2007 to 04/01/2008 1.0%*
04/02/2006 to 04/01/2007 1.5%*
On or before 04/01/2006 3.0%*
* based upon accumulated carry over in COLA banks as of April 1, 2008
This information will be provided to the Board of Retirement
for formal consideration in February.
* * * UPDATE * * *
The VCERA pension system remains sound amid the current global economic
conditions. Although VCERA is impacted by market fluctuations, we continue
to achieve a stable funding status through adherence to a prudent long-term
investment strategy and maintaining a well diversified portfolio. VCERA is very
experienced in these types of market conditions and typically rebounds well
from periods of negative investment performance. The recent market volatility
has no bearing on VCERA's ability to meet our benefit payments to retirees.
MISSION STATEMENT:
The Ventura County Employees’ Retirement Association (VCERA)
is committed to providing retirement, death and disability benefits
to our members and their beneficiaries in an accurate and timely manner.
VCERA shall strive to project a positive image by the delivery of services
to our members, their beneficiaries and all other stakeholders,
in a courteous and professional manner.
