Leaving Before Retirement
If you are rehired by a participating employer after you terminated employment, you will rejoin CCCERA, unless you are rehired in an ineligible position. Service credit starts accruing just as it did during your previous membership: the first day of the month following your rehire date to an eligible position (the first time a contribution is taken from your pay check).
If you took a refund when you left, you have two choices:
CCCERA will receive notification of your termination from your employer’s Human Resources department. The Retirement Office will send you a packet explaining the options concerning your retirement account and possible tax liability. A “Distribution Election Form” and instructions for filling out the form are included. Return the completed forms to CCCERA.
Deferring your retirement membership means you leave your funds in your account at CCCERA.
Termination of your membership in CCCERA can occur for a variety of reasons, but usually this means you no longer work for an employer participating in CCCERA. Membership termination can also occur if your job status changes, for example, to less than half-time, or contract. (If you have changed jobs to an ineligible position, such as contract or less than 20 hours per week employment, but are still working for a CCCERA employer, you may not withdraw your contributions.)
Members of CCCERA who have at least 5 years of retirement service credit are “vested” in the system.
Vesting, in its purest sense, means a member has earned the absolute right to a retirement benefit when all other conditions for retirement eligiblity are met. Recent legislation has changed aspects of this concept. Now, all members are entitled to retirement account options once previously reserved for vested members, with one important difference:
CCCERA makes no representations or warranties, expressed or implied, with respect to the materials found at this site. It is intended for general information purposes only. In addition, CCCERA cannot and does not represent that the information on this website is current. While CCCERA has made every reasonable effort to offer the most current information possible, inadvertent errors can occur.
CCCERA is governed by California law as well as the Internal Revenue Code and various rules and regulations, all of which are complex and subject to change. In the event of any conflict between these governing authorities and the information on this website, the governing authorities have precedence. Site users are strongly encouraged to consult with a CCCERA representative about specific issues and not rely on the general information contained in this website.
The information provided is not intended to serve as legal advice or as legal opinion. By using this site, the site user agrees to release and hold CCCERA, and its agents and representatives, harmless from any and all claims, demands, and causes of action of any kind or nature whatsoever now and in the future arising out of or in connection with the use of this site or the information provided herein.