Ventura county pensions Jan 29, 2024 · The ruling deals a major blow to Ventura County public retirees and underscores the ongoing scuffle over the Public Employees’ Pension Reform Act (PEPRA) The initial ruling by VCERA followed the California Supreme Court’s Alameda decision upholding PEPRA in 2020. Biweekly deductions will continue throughout employment for most members. Board Meetings. 2012–2023 pensions for Ventura County Employees Retirement Association (VCERA) 34,846 records found – Page 1 of 697 One of the most valuable benefits offered by your employer is a unique retirement program known as a defined benefit (DB) pension plan. Reach her at kathleen. (Gov. wilson@vcstar. Tax-deferred means you do not pay income taxes on the amount you contribute to the Plans – or earnings on those contributions – until you withdraw those funds after you separate from service. The rates reflect 50/50 cost sharing for Legacy members. ) 1 The amount of a pension is based in part on the earnings of the retiree during a selected three-year period or one-year period Jan 1, 2013 · Safety Tier 1: Age 50 and 10 years of service credit, or; 20 years of service credit, regardless of age, or; Age 70, regardless of service credit; Safety PEPRA Tier (hired on or after January 1, 2013): For nearly a year, Ventura County officials have portrayed their pension system as conservative and reasonable by almost every measure. 44 fixed supplemental benefit. org . Employee of the County of Ventura . Unlike any other employment benefit, a DB pension plan (VCERA) offers you retirement income that will last for your lifetime! Click on a section below to learn about VCERA and the valuable benefits it provides. The Ventura County Office of Education offers training and support services to local schools, districts, educators and members of the community. Click below for more information on: Deferred Compensation; Pension Plan; Retirement FAQs; Safe Harbor Pension Calculators - VCERA’s two pension calculators were created to assist you in your retirement planning. Ventura’s retirement fund has estimated that some retirees could lose a couple hundred dollars a month once it complies with the pension law and begins adjusting its vacation “cashout” policy and striking some other incentives, according to the Ventura County Star. These plans help our employees build a plan for their future. To input an accurate Final Average Monthly Compensation amount in the “Compensation” field, find your Current Retirement Earnings Final amount on your paystub, multiply it by 26 (to get an annual total), and then divide the total by The Ventura County Employees’ Retirement Association (VCERA) is a multi-employer, defined benefit, public pension plan located in Ventura County, California. VCERA’s two pension calculators were created to assist you in your retirement planning. Benefit Tier Average Pension & Benefit Amount for Full-Career Retirees VENTURA COUNTY SCHOOLS BUSINESS SERVICES AUTHORITY: $73,282. You will be asked to provide specific pieces of information that are needed to effectively calculate the future pension benefit: • Retirement Plan • Age Quarter • Service Years Oct 16, 2020 · Kathleen Wilson covers the Ventura County government, including the county health system, politics and social services. The Ventura County Taxpayers Association does see a problem with drawing a pension and a salary. VCERA. 63% of their pensionable earnings per pay period toward their future COLA benefits. Pension Calculators - Ventura County Employees' Retirement Association Next Retirement Payment Date: October 31, 2024 May 12, 2023 · Thousands of County of Ventura retirees may face pension cuts as local officials apply new rules to comply with a 2020 court decision. Ventura, CA 93003 (805) 339-4250. You may also choose to contribute to one or both of the County’s deferred compensations plans 401(k) and 457. TTY: (877) 249-7442. The following chart applies only to members employed by the County of Ventura, the Air Pollution Control District, and VCERA. VCERA members become “vested” after attaining five years of retirement service credit. Tier II. However, Safety Tier 1 members who reach 30 years of continuous service will no longer contribute to VCERA. The Ventura County Employees’ Retirement Association (VCERA) is a “defined benefit” plan offered to eligible employees of the County and special districts. Both the County and you contribute to the County’s Pension Plan. not Contribution Rates - Click to view total retirement contribution rates for each employer and benefit tier. Code, § 31450 et seq. The Ventura County initiative, similar to the San Diego initiative, would have given new hires a 401(k)-style investment plan instead of a pension (the San Diego initiative exempted police) and called for a five-year freeze on pay used to calculate pensions. The County offers eligible employees the ability to save for retirement on a tax-deferred basis through the 401(k) and 457 Plans. Reciprocity can only be established between VCERA and other eligible retirement systems in California, including any other “1937 Act” (CERL) county system, the California Public Employees’ Retirement System , most agencies reciprocal with CalPERS, the California State Teachers’ Retirement System , and the Judges’ Retirement System In addition to the calculated amount, you may be eligible for receipt of the $108. Retiring From VCERA - There are several things to consider before submitting your retirement application. 70: $340,631. And for the same year, the Ventura County Taxpayers Association has described the retirement benefits offered to county government's 8,000 employees as excessive and easily abused, particularly in the case of high earners. Board of Eligible County of Ventura employees have access to a defined benefit pension plan administered by the Ventura County Employees' Retirement Association (VCERA). Oct 3, 2022 · In a decision that surprised county officials, Gov. Contact VCERA to request a benefit estimate, receive retirement counseling, and more. He filed… Aug 14, 1997 · Ventura County employees receive retirement benefits (pensions) under a retirement system established pursuant to the County Employees Retirement Law of 1937 (CERL) as codified in 1947. Gavin Newsom last week vetoed a bill that would have restored certain pension benefits for an estimated 3,200 Ventura County public employees. 1190 South Victoria Avenue, Suite 200 (805) 339-4250 Ventura, CA 93003-6572 www. Bob Brooks, whose salary as Ventura County sheriff was $227,600 a year when he retired in January 2011, received an annual pension of $283,000. The rates reflect the Normal Cost, as well as the costs associated with the Unfunded Actuarial Accrued Liability and, where applicable, cost-of-living adjustments. com or 805-437-0271. Feb 19, 2024 · The changes add up. Feb 28, 2025 · For example, County employees represented by SEIU and CNA also contribute 2. 92: 7: VISALIA PUBLIC CEMETERY Pension Calculator The VCERA Pension Calculator is a tool for members to estimate their retirement pension benefits for financial planning purposes. Jan 27, 2014 · Backers of an initiative that would give new Ventura County employees a 401(k)-style plan, rather than a pension, sometimes mention a lawsuit filed last fall by a former sheriff. Pursuant to the County Employees’ Retirement Law of 1937 and the California Public Employees’ Pension Reform Act of 2013, VCERA provides service retirement, disability The County offers eligible employees the ability to save for retirement on a tax-deferred basis through the 401(k) and 457 Plans. Mar 31, 2025 · If you are a Legacy member, you can estimate your own retirement benefit using the Legacy Pension Calculator. As a member, your future retirement benefit is . Mar 17, 2023 · No other elected county officials in Ventura County are also getting a county pension. Vesting can be achieved through employment as a VCERA member, eligible service purchases and reciprocal service. Learn more about pension pay dates, COLAs, deductions and other retiree-specific topics. . Home - Ventura County Employees' Retirement Association. Jul 14, 2021 · Ventura County's pension plan with more than $6 billion in assets is nearly 90% funded, the highest mark since the period before the Wall Street crash of 2008, financial reports show. The list includes those who retired nearly a decade ago. nbje wvrivkfr nddlfr fkscoa tlmw tgdnhjv yvnupp jlsexz jcwze ninsp uwn nivnm izlu cqbrfd dmcit