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Special Notices

Contra Costa County
Employees' Retirement Association

IMPORTANT INFORMATION ABOUT PRE-TAX SERVICE CREDIT PURCHASES

CCCERA offers its active members the option of purchasing eligible service credit under specific circumstances. Some examples of purchasable service credit are: previous public service employment, redeposits, medical leaves of absence, conversions or time prior to membership.

Retirement Board Votes to Change Compensation for Retirement Purposes Policy for New Hires Only

Attention Active Members: The County service conversion "Buyback Program" ended on July 31, 2009 for the following groups:

   *       Local 1

   *       AFSCME 2700

   *       SEIU 1021

   *       Western Council of Engineers

   *       Local 512

   *       Management and Unrepresented employees

Stock Market Changes No Threat to Pension Benefits

   *       You experience higher salary percentage increases early in your career, at relatively young ages.

   *       You contribute for more years than an individual who enters the system at a later age.

   *       Since the years when you get higher salary increases occur at younger ages, your rate may be lower than with the old assumption.

   *       You still experience higher salary percentage increases early in your career, but at relatively older ages.

   *       You do not contribute for as many years as an individual who enters the system at an earlier age.

   *       Since the years when you get higher salary increases occur at older ages, your rate may be higher than with the old assumption.

Why Your Contribution Rates Rise (and fall, sometimes)