Retirement Overview

The ACERA retirement plan is a "defined benefit" plan which provides a retirement benefit for life, regardless of the amount of money you contribute into the system. ACERA provides its members with Vested and Non-Vested benefits upon retirement. Vested benefits include a lifetime retirement allowance, disability retirement and annual cost of living adjustment; non-vested benefits include health, dental, and vision coverage; supplemental cost of living adjustment and retiree death benefit.

Benefit allowances are defined by a formula and do not depend on how much money accumulates in your account as they would under a "defined contribution" plan such as a 401 (k) or deferred compensation (457 plan) program.

Retirement Process: (See also Pre-retirement checklist click HERE)

If you are planning to retire, it is recommended that you attend a pre-retirement seminar (also online, click HERE) or you may schedule an individual counseling session with a retirement specialist who will be able to counsel you on the retirement benefits and options available once you retire. You will be asked to bring certain documents with you to the counseling session. Please be prepared to bring your social security card, birth certificate, marriage certificate, drivers license, etc. Please note that the priority for individual counseling sessions is given to those members who are close to retirement.

To apply for retirement, you must submit a retirement application to ACERA. Retirement packages are available upon request. Retirement applications must be submitted prior to your effective date of retirement, but cannot be accepted earlier than sixty (60) days prior to the effective date of retirement. If you are an Intersystem member, you must apply and retire on the same date from all linked systems. Each retirement system must receive the proper paperwork required to process a retirement benefit from each system. Click HERE for more on 'Service Retirement and Eligibility.'

Approximately 6-8 weeks after your retirement date, you will receive a contract indicating your benefit options available/requested for your benefit. Payment of your retirement allowance cannot begin until ACERA receives your signed benefit contract. Benefit payment begins upon receipt and processing of your signed benefit contract and are continuous for your lifetime. Retirement allowances are paid once a month. Checks and automatic deposit notices are mailed and generally received by the retiree on the last business day of each month. Direct deposit of retirement allowances is available to all retirees.

Area Map:

• Retirement Contributions
• Service Retirement
  • Checklist
  • Options
  • Final Compensation
  • Ventura Decision
• Service Credit
  • Converting Leave Balances
  • Purchase Redeposit
• Retirement Associations

- Last Modified: 2004-04-01 14:00:20