About CCCERA

CONTRA COSTA COUNTY
EMPLOYEES' RETIREMENT ASSOCIATION

The Contra Costa County Employees' Retirement Association is a public employee retirement system established by the County of Contra Costa on July 1, 1945. The Association is administered by the Board of Retirement to provide service retirement, disability, death and survivor benefits for County employees and 16 other participating agencies under the California State Government Code, Section 31540 et. seq. (County Employees Retirement Law of 1937).

CCCERA is also governed by the California Constitution and the regulations, procedures and policies adopted by CCCERA's Board. The Contra Costa County Board of Supervisors may also adopt resolutions, as permitted by the County Employees' Retirement Law of 1937, which affect benefits of CCCERA members.

The 12 member Retirement Board is responsible for the general management of CCCERA. Of the 12 members, three are alternates: one each for safety, retired and general member representatives. (The alternate members vote in the absence of primary members.) Five Board members, including the safety alternate, are elected by CCCERA's active membership. Two Board members are elected by the retirees; the candidate with the second highest vote tally becomes the alternate. The County Treasurer serves as an ex-officio member. Board members, with the exception of the County Treasurer, serve three year terms in office, with no term limits.

Employer and member basic and COLA contributions are based on statute and rates recommended by an independent actuary and adopted by the Retirement Board. Employees covered by the plan are required by statute to contribute toward their pensions. The rates are set to provide a retirement benefit equal to a fractional part of the final year's (one year or three year, depending on tier) final average salary. The "Entry Age Normal" funding method is used to calculate the rate required to provide benefits to members. Member contributions are refundable on termination of employment, if the member chooses this option.

Employers are required to contribute at an actuarially determined rate calculated on the alternate funding method permitted by Government Code Section 31453.5. Pursuant to provisions of the 1937 Act, the Retirement Board recommends annual contribution rates for adoption by the Board of Supervisors.

CCCERA's investment objective is to provide CCCERA participants and beneficiaries with benefits. This goal is accomplished by the implementation of a carefully planned and executed long-term investment program. The California Constitution and Government Code Section 31594 and 31595 authorize the Board to invest in any investment deemed prudent in the Board's opinion. Investment decisions are made in the sole interest and for the exclusive purpose of providing benefits, minimizing contributions and defraying reasonable expenses for administering the system. Investments are diversified to minimize the risk of loss and to maximize the rate of return.