Retirement allowances are paid on a monthly basis. ACERA mandates signing up for direct deposit, so that your monthly check will be deposited directly into your bank account. Direct deposit is easy, safe, and reliable, and can save you time and money. You will receive a monthly Electronic File Transfer (EFT) statement in the mail each month whenever you are paid through direct deposit. This process ensures the receipt of funds, especially in the case of a natural disaster, Post Office delivery delays, or theft.
The goal of the Supplemental Cost of Living Adjustment (Supplemental COLA) is to maintain retirees’ purchasing power at no less than 85% of their original retirement allowance. What this means: if it takes more than $1.15 today to purchase what $1.00 would purchase at the time of your retirement, you’ve lost at least 15% of your buying power. When this occurs, you may qualify for a Supplemental COLA to make up the difference and bring you back to 85% of your buying power.
ACERA retired members, dependents, and survivors currently have the opportunity to enroll in medical, dental, and vision plan coverage. Additionally, members may be eligible for subsidies to offset the costs of these plans.
If you move to a new residence, temporarily relocate, or change your mailing address, ACERA will need your new address and contact information. The same goes if your phone numbers change. You should take the following steps, based on your membership status as an active, deferred or retired member.
How Actively Working Employees Change Their Phone Numbers With ACERA
First 5 and Housing Authority: If you work for First 5 and Housing Authority of Alameda County, you can change your home phone number in ACERA’s database by changing your home phone number with your employer—it will get transmitted automatically to ACERA. If you want to change your mobile or work number with ACERA, send us a letter in writing with your signature asking for it to be changed.
To ensure no interruption in your ACERA plan benefits, it is important to keep ACERA and your health plan providers informed of important life changes. This section describes the things you should consider and the steps to take when working through a range of events.
If you have a baby or adopt a child as a retired member, you may wish to designate your child as a plan beneficiary. To do so, complete and return an ACERA Retired Member Beneficiary Designation Form. In addition, while not required, you may wish to provide ACERA with a copy of your child’s birth verification.
Life brings many changes. To name a few: changes in sleeping patterns; changes in eating patterns; and changes in finances. One change that some of us may face, is divorce or state-registered domestic partnership dissolution. When that happens, your ACERA benefits may be impacted.
If you get married or register a domestic partner with the California Secretary of State after you retire, you may want to designate your new spouse/partner as your beneficiary, because as an ACERA retiree, you have certain benefits that will be paid at your death. However, in the Election of Retirement Allowance Form you signed at the time of retirement, you made elections regarding your nominated beneficiaries.
ACERA does not sponsor a life insurance program. However, the life insurance program currently offered to Participating Employer management and non-management employees may be continued into retirement through the insurance plan provider. For more information, contact the Human Resources department of your Participating Employer.
Members of Local 3 who are collecting a pension from the Operating Engineers Pension Trust Fund may be eligible for medical, dental, vision, and prescription drug benefits through the Operating Engineers Health and Welfare Plan. These health care benefits are different from the benefits offered by ACERA. Although this is a non-ACERA-sponsored program, you can elect to have the program’s health care premiums deducted directly from your retirement allowance.
The CalPERS Long-Term Care Program is the nation’s only voluntary, self-funded, not-for-profit program, which offers extended care for you or a loved one who may need assistance with basic activities of daily living, such as bathing, dressing, or eating. Although this is a voluntary, non-ACERA-sponsored program, you can elect to have the program’s premium paid directly to CalPERS from your retirement allowance.
After the death of a loved one, many people find themselves overwhelmed with the tasks to be completed.
ACERA has created this checklist to assist survivors with issues they may need to address. This checklist is not a definitive list of all matters of immediate concern upon death, so you may want to add your own items. You may also want to create a contact list of banks, insurance companies, and all other applicable institutions.
ACERA asks its members to name a beneficiary or beneficiaries, to whom benefits are payable in the event of death. It is important to keep your beneficiary designations current (addresses and phone numbers) to ensure timely payments are made to the appropriate individuals.
It is important to know which death benefits your beneficiary is entitled to receive. ACERA Member Services can help you make this determination. To assist and expedite the processing and payment of any potential death benefit, ACERA must have the following:
To report the death of an ACERA member or a beneficiary receiving a monthly retirement or continuance payment, you may call ACERA during our office hours, or use the form below; we will need answers to a few questions in order to complete our death benefits process. If you use the form below, you will automatically receive an email copy of your submission.
Once we complete our process, we will notify beneficiaries of death benefits by mail.