The California Public Employees' Pension Reform Act of 2013 (PEPRA) took effect January 1, 2013. Generally – for employees who become general members of the Contra Costa County Employees' Retirement Association on or after January 1, 2013-- PEPRA requires a miscellaneous pension formula of 2% at age 62, 36 month final compensation averaging, and a maximum salary amount used for pension calculation of $110,100 (plus CPI). For safety retirement, the benefit is generally 2.7% at age 57, 36 month final compensation averaging, and a maximum salary amount used for pension calculation of $132,000 (plus CPI). PEPRA does not address the amount of the Cost of Living Adjustments/COLAs to the pension benefit. The County Employees Retirement Law authorizes implementation of various COLAs to the pension benefit. Prior to 2013, many County employees entering CCCERA were eligible for up to a 3% pension COLA to the retirement benefit. However, the County has been actively negotiating a 2% Pension COLA for employees in the PEPRA tier with its bargaining groups. Government Code section 7507 requires that the future costs of changes in retirement benefits be made public at a public meeting at least two weeks prior to the adoption of such changes. The following is a summary of actions taken to implement a 2% pension COLA:
Pension Document Links
Listed in Chronological order, most recent on top.