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Tax Form Changes
Updated forms now required
Retirees are required to provide MercedCERA their federal and state withholding instructions at the time of their initial retirement. Updates to the withholding instructions could be made at any time by submitting an internally created tax change form.
Member Contribution Rates
Fiscal Year 2023/2024
The Merced County Employees’ Retirement Association (MercedCERA) Board of Retirement approved new employee contribution rates for the fiscal year 2023-2024. Employee contribution rates are a percentage of your salary that you contribute into the retirement system. These rates are based on your age, earliest start date into a public retirement system, benefit tier and other economic and demographic assumptions (e.g. projected benefit costs and investment earnings). Each year, these rates are reviewed and updated by MercedCERA’s actuary. New rates will be effective Pay Period 14 (June 19, 2023), with a pay date of July 7, 2023. It is very likely that you will see a change in your net payment.
MercedCERA Amends Resolution 2020-1
On July 8, 2021, the MercedCERA Board of Retirement voted to change the resolution they adopted pertaining to the Alameda Supreme Court Decision (Resolution 2020-1 adopted on August 13, 2020).
3.00% COLA Approved
Tier 1 retirees are eligible to receive a cost of living adjustment (COLA) annually. This adjustment is effective April each year and is first payable in April’s month-end payment.
The MercedCERA Board voted unanimously via roll call vote to approve the Cost of Living Adjustment rate recommended by Cheiron for 3% to Tier I retirees who retired on or after April 2, 2021. An increase of 1% was included in the accumulated carry-over balances (COLA banking).
MercedCERA and the Supreme Court Decision
On July 30, 2020, the Supreme Court of California published a decision on the Alameda Case. Please see the history and how this court case has impacted MercedCERA.
MercedCERA Retirement Board Election
MercedCERA Retirement Board Election was held for General Member Seat 2, Safety Member Seat 7, and Alternate Retired Member Seat 8.
