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 Hires First Chief Investment Officer
MercedCERA Board of Retirement Hires Gaurav Patankar
MercedCERA announced that Gaurav M Patankar has been appointed to the position of Chief Investment Officer of MercedCERA. Patankar assumed his role earlier in July and will report to Merced CERA’s Board of Trustees and Plan Administrator. Patankar was most recently at Bloomberg and in this role, he was responsible for building out and leading Emerging Markets’ Investment Strategy and Alternatives Manager research.
MercedCERA launches new member-centered website
MercedCERA is debuting a newly redesigned website today as part of the Board of Retirement’s commitment to improving member self-service, security, and transparency. The new website is now dedicated to member’s needs, separate from the county, and features a new design, upgraded cybersecurity infrastructure, a streamlined site navigation structure, and refreshed content.
MercedCERA Retirement Board Election
MercedCERA Retirement Board Election will be held for General Member Seat 3, Alternate Safety Member Seat 7A, Retired Member Seat 8 and Alternate Retired Member Seat 8A.
Candidate filing for General Member Seat 3, Alternate Safety
Member Seat 7A, Retired Member Seat 8 and Alternate Retired
Member Seat 8A will be from August 23, 2023 to September 6,
2023.
MercedCERA and the Supreme Court Decision on the Alameda Case
RE: The Supreme Court of California Decision on Exclusion of Terminal Pay, On Call and Stand By Pay Codes in Retirement Allowance Calculations