Board of Retirement

Overview

Board of Retirement

The ACERA Board of Retirement (“Board”) is responsible for administering the pension plan in accordance with applicable laws, including but not limited to the CERL, protecting the assets of the pension plan and the interests of the plan beneficiaries, and prudently managing the critical risks facing ACERA. The Board is also responsible for establishing the policies that govern the administration of ACERA’s retirement plan, for making benefit determinations, and for managing the investment of the system’s assets.

The Board oversees the ACERA Chief Executive Officer who oversees staff in performing their duties in accordance with the CERL, ACERA regulations, and Board policies.

The Board has nine members and two alternate members; it operates under authority granted by CERL and Article XVI of the Constitution of the State of California.  The table below shows the composition of the Board. All Board members, with the exception of the County Treasurer, serve three-year terms.

ACERA Board of Retirement

Type of Member Elected/Appointed by Number of Members
County Treasurer By virtue of position 1
County Resident Appointed by Alameda County Board of Supervisors 4
Active General Member of ACERA Elected by active general members 2
Active Safety Member of ACERA Elected by active safety members 1
Retired Member of ACERA Elected by retired members 1
Alternate Retired Member of ACERA Elected by retired members 1
Alternate Safety Member of ACERA Elected by active safety members 1

Basic Board Responsibilities

  • Setting investment strategies;
  • Selecting actuaries;
  • Selecting investment advisors and managers to invest the ACERA trust assets in stocks, bonds, real estate, and other high grade income-producing investments; and conducting reviews to ensure the trust’s security and track earnings;
  • Providing and reviewing procedures for disability retirements; and
  • Selecting a Chief Executive Officer who, under the Board’s direction, is charged with carrying out retirement law and Board policy and maintaining a competent staff to handle day-to-day operations.
  • See information on Trustee Functions.

Board meetings are held every third Thursday. In addition, the Board may meet in special sessions as circumstances warrant. The Board also has standing committees that meet once a month. All meetings are normally held in the ACERA C.G. “Bud” Quist Board Room at 475 14th Street, Suite 1000, Oakland, CA 94612.

Commands