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Frequently Asked Questions (FAQ)
When Does My Retirement Actually Begin?
Retirement begins the day after your last day on paid status with the County.back to top
What else do I need to bring to my counseling session?
You will be asked to bring certain documents with you to the counseling session. Please be prepared to bring your social security card, your birth certificate, your spouses birth certificate, marriage certificate, dissolution papers, and drivers license.
Special Note: If are a reciprocal member, you retire concurrently from all systems with which you have established reciprocity. This means that you have the responsibility to notify each system of your planned retirement date and remind them that you are a reciprocity (inter-system member) so that all systems will coordinate your effective date of retirement.
Retirement benefits from ACERA are lifetime benefits. Depending upon the option you select at the time of retirement, an eligible beneficiary (if living) may also receive a monthly continuance of your retirement allowance in the event of your death.
Retirement allowances are paid monthly and are dated the last business day of each month.back to top
Can anyone get information about my retirement account?
No. ACERA is required to protect the confidentiality of member records. Questions about your account cannot be answered without your written consent or under court action.back to top
Whats all this about Payment of Service Time, Redeposits and Purchases?
The purchase of additional service credit may be made by lump sum payment or through payroll deductions for a period not to exceed five (5) years, depending upon the type of service purchased. If you choose to pay for service credit through installments, additional retirement contributions will be deducted from your bi-weekly paycheck each pay period. This amount is in addition to your normal contribution deductions. All purchases, buybacks or redeposits must be completed prior to filing for retirement. Redeposits and purchases provided through payroll deductions are on a tax-deferred basis, whereas lump sum payments are on an after-tax basis.back to top
How Can I Purchase Service Credit?
A purchase of service credit is different from a redeposit in that you purchase service time that you have never had. For example, if you had previously worked for a public agency where there was no pension plan or you may be eligible to purchase additional service credit for time worked with any of the following agencies. You must be ineligible for a retirement benefit from any of these agencies except military reserve, to complete a service credit purchase:
- Federal Government, including military service (only for those hired on or before August 10, 1972)
- Alameda County and any city within Alameda County
- Any County in the State of California, including San Luis Obispo & San Francisco
- Any public school district in Alameda County
- East Bay Municipal Utility District (EBMUD)
- Port of Oakland
- State of California
Interest is included in your cost of public service purchases. This interest is what your money would have earned, if it had been in the trust during the time being purchased. The interest charged is credited to your individual account so you are paying interest to yourself. This interest remains in your account and earns additional interest for you, until you either withdraw or retire.
Please note that this credit may not be used to meet the minimum qualifications for regular service retirement, or for service and non-service connected disability.
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What are Redeposits?
A redeposit is a payment of contributions plus interest for any previous service time. For example, if you left ACERA covered employment in the past and withdrew your retirement contributions plus related interest, you have no retirement service credit for that period of service. You can restore this service credit in full if you redeposit (pay back) these withdrawn contributions, with interest. Your rate of contribution will be based on your age nearest to your date of re-entry into ACERA. For more information, contact the Retirement Office.back to top
Ive decided to retire, what should I do?
If you are planning to retire within the next ninety (90) days, you need to contact the Retirement Office to schedule an appointment with a retirement specialist. During your counseling session, you will be counseled on the retirement benefits, allowance options and benefit deductions available once you retire.
Retirement applications must be received no earlier than sixty (60) days prior to the effective date of your retirement. For this reason, your appointment will generally be scheduled within two (2) months of your retirement date. If you already have an estimate of your Social Security benefits, you should provide this to the retirement staff. If you do not have your estimated Social Security benefits statement, you may want to request one from Social Security.back to top
Am I Still A Member Of ACERA If I Quit And Take All My Money Out?
No. Once you withdraw all your contributions for either a refund or rollover, you terminate all rights to membership in ACERA and are not entitled to any ACERA retirement benefits.back to top
When am I eligible to retire?
Members may retire at any time provided they meet these minimum eligibility requirements: General Members (Tier I and Tier II) may retire:
- at age 50, or older, with 10 or more years of service credit;
- at any age with 30 or more years of service credit;
- at age 70 or older with any amount of service credit.
Safety Members (Tier I and Tier II) may retire:
- at age 50, or older, with 10 or more years of service credit;
- at any age with 20 or more years of service credit;
- at age 70 or older with any amount of service credit.
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What happens if I die while on Deferred Retirement?
If your death occurs while you are on deferred retirement, your named beneficiary will receive a lump sum distribution of your contributions and interest.back to top
Do I have to make an appointment with a retirement specialist?
Yes, in order to properly counsel you on your retirement benefit options and your account, you should call ACERA to schedule a counseling session.back to top
I would like to retire soon, what do I need to do before I retire?
Once you know that your retirement is just around the corner, there are several things you need to do:
- Attend a Retirement Workshop;
- Notify your Department of your Retirement Date;
- Call the Retirement Office for a Counseling Session;
- Contact your deferred compensation provider about your deferred compensation program.
You should give as much notice as possible to ACERA of your intended retirement. Four (4) to six (6) months would be appropriate.back to top
When is the best time to retire?
When thinking about retirement, there are many factors to consider when selecting the effective date of retirement. Remember that your retirement is calculated on three (3) factors: your age, length of service, and your final average salary. You receive an incremental age adjustment, which slightly increases your benefit, for each quarter of a year increase in your age, up to age 55 (Safety), age 62 (Tier I) and age 65 (Tier II). For that reason, if you are age fifty-nine (59) and plan to retire this year, for example, you may want to make sure that your effective date of retirement follows the date you would turn 59.
Another fact you will want to take into consideration is that the annual cost of living increase is effective on April 1st of each year. As long as you retire prior to April 1st, you will be eligible to receive the cost of living increase provided that year.back to top
Are all employees automatically in the retirement system?
No - Certain employees are not eligible for membership in ACERA. Employees working in part-time, project, temporary, seasonal, or intermittent (extra-help) positions, are not eligible for ACERA membership. Also, individuals working for the County under contract (independent contractors) are not eligible for ACERA membership.
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Im a new employee. Is there anything special that I need to do to join the Retirement Association?
If youre eligible for membership, your payroll clerk or human resources department should include, with your employment papers, the Members Enrollment Questionnaire for ACERA. Complete and submit the completed Members Enrollment Questionnaire to your payroll or personnel department. They will forward your questionnaire to the Retirement Office. You may also contact ACERA for a questionnaire.
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What happens if I dont submit the Members Questionnaire or a birth certificate?
If you dont submit the Questionnaire, your benefits might be calculated according to incorrect information, or if anything happens to you, any benefits payable and your contributions may be paid to someone other than the person you would wish to be your beneficiary. Contribution rates are based upon your age at the time you enter the system. If you don’t supply ACERA with a copy of your birth certificate or baptismal paper, your contributions may be incorrect.
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Whats the difference between General and Safety membership?
There are different contribution rates, different eligibility requirements for retirement and slightly different benefit levels between Safety members and General members. General members contribute at a slightly lower rate than Safety members.back to top
Am I Eligible For Social Security Benefits Even If I Am A Member Of ACERA?
All new General members are covered by Social Security as are most General members who have worked for the County during the last thirty years. Some employees who have been continuously employed with Alameda County for a number of years may have had a choice many years ago to opt out of Social Security. Most Safety members are NOT covered under Social Security. If you are unsure of your coverage ask your payroll clerk. If you have Social Security (FICA) deducted from your pay check, you are a Social Security integrated employee. Most General members are considered Social Security integrated employees. Most Safety members do not have FICA deductions and are therefore not considered Social Security integrated employees and may not be eligible to receive Social Security unless they have contributed to Social Security in other employment.
The Social Security Retirement, Survivors, Medicare and Disability benefits available for you under the Social Security Act are benefits provided by the Federal Government and are separate from your contributions and benefits from ACERA.
Eligibility for Social Security benefits is set by Federal law. Contact the nearest Social Security Office for information about your rights and benefits under that system. For the Social Security Administration's web site, go to http://www.ssa.gov. The SSA has a form for estimating your Social Security Benefits, go to our downloads page to get it.
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When Does My Retirement Actually Begin?
Retirement begins the day after your last day on paid status with the County.back to top
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