The Board adopts regulations, procedures, policies and resolutions as permitted by and amended in the CERL.
The Retirement Board is responsible for general management of CCCERA while a Chief Executive Officer oversees the operations of the Association.
The CAFR also includes an Independent Auditor’s Report focusing on CCCERA’s financial statements.
Rather, a fixed formula, stipulated by the 1937 Act, determines members’ future retirement allowances.
Retired members are entitled to an annual cost of living (COLA) increase, granted by the board, effective April 1 of each year.
This benefit is based on the San Francisco-Oakland-San Jose area Consumer Price Index and may range up to between 2% and 4%.
The stipulations of OPEB may be modified, altered or terminated at any time and for any reason as provided in the plan documents.
[4] CCCERA has reciprocity with 19 other 1937 Act counties as well as CalPERS (California Public Employees Retirement System).