2.5% Contribution Increase to Your HRA This Friday, Aug. 2

Dear OCEA member,

This Friday, Aug. 2, 2024, you will see a 2.5% increase in the County’s contribution to your Health Reimbursement Arrangement (HRA) account. As you know, your HRA is a replacement for the previous Retiree Medical Grant (“RMG”), which was frozen last year. This increase in the County’s contribution to employee HRAs for OCEA-represented employees constitutes an approximately $20 million in additional retiree healthcare account balances for the coming year. This is the first increase since the program’s inception in 2023 and OCEA has negotiated an additional +2.5% increase every year going forward.

If you have not yet logged in to your MissionSquare account, we suggest you do and check your investment options to make sure they are appropriate for you. As a reminder, if you chose the HRA rollover option during the RMG to HRA transition, your one-time deposit was placed into the MissionSquare Plus Fund. Your ongoing bi-weekly contributions are defaulted into an age-appropriate target date fund. You can change your investment options at any time by logging into your account.

More information about the HRA plan, including how to sign up for HRA educational seminars, can be found here. Click here for the HRA seminar slide deck.

To speak with the MissionSquare representative for Orange County, contact Marcus Marshall at  mmarshall@missionsq.org or 202-759-7203.

In Solidarity,

OCEA

Publication Date: August 1, 2024