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The retirement plan provides lifetime benefits to members of the retirement system who meet the minimum age and length-of-service requirements and is a significant and fundamental part of the comprehensive benefits package ACERA provides to eligible employees.
Over the years, ACERA has expanded its member services to include employees of the Alameda County-based Superior Court of California and the five special districts of the County, as well as to administer retiree health care, dental care, vision care, and supplemental cost-of-living benefits.
ACERA’s plan is a defined benefit pension plan, qualified under Section 401(a) of the Internal Revenue Code. Funding of a defined benefit pension plan is based on a cost sharing principle through employee and employer contributions rates, which are determined annually upon recommendation by the plan's actuary. Therefore, retirement benefits are determined by a formula and not on an individual's account balance.
The ACERA Board of Retirement is responsible for establishing policies governing the administration of the retirement plan and managing the investments of the system’s assets. The Board has nine members and two alternate members. The Alameda County Board of Supervisors appoints four members and six are elected by ACERA’s membership. The County Treasurer is an ex-officio member.
The Board of Retirement oversees the Chief Executive Officer and staff in the performance of their duties in accordance with the County Employees Retirement Law of 1937, ACERA’s by-laws, and Board policies.
To provide ACERA members and employers with flexible, cost-effective, participant-oriented benefits through prudent investment management and superior member services.
Commitment (Board and Staff)
To carry out our Mission through a competent, professional, impartial and open decision making process. In providing benefits and services, all persons will be treated fairly and with courtesy and respect. Investments will be managed to balance the need for security with superior performance. We expect excellence in all activities. We will also be accountable and act in accordance with the law.