Update—Your Retirement Security

Your watchdogs on the OCERS Board of Retirement: OCEA Board members Chris Prevatt (upper left), Adele Tagaloa, and retired OCEA President Frank Eley.

Dear OCEA member,

Your retirement security is administered by the Orange County Employees Retirement System (OCERS). The OCERS Board of Retirement includes representatives appointed by the Board of Supervisors, the County Treasurer-Tax Collector, and members elected by you, your co-workers, public safety workers, and retirees.

OCEA Board members you have elected to keep a watchful eye on OCERS policies and administration are Adele Tagaloa and Chris Prevatt, joined by retiree member and former OCEA President, Frank Eley.

One of the items on Monday’s OCERS agenda is the approval of STAR COLA payments for the period April 1, 2021, through March 31, 2022. STAR COLA stands for Supplemental Targeted Adjustment for Retirees, Cost of Living Adjustment. The STAR COLA is discretionary and the Board of Retirement has the sole authority to grant or deny the benefit on an annual basis.

The reason for these payments? "The cost of living keeps going up," says OCERS Board of Retirement member Chris Prevatt. "The STAR COLA under consideration helps retirees who have lost up to 20% of their pension purchasing power due to inflation." The STAR COLA payments were unanimously approved at the virtual meeting yesterday.

You can review the OCERS agenda by clicking here.

It’s critical you and your coworkers have representation on the OCERS Board of Retirement. OCEA is committed to your retirement security and makes sure those representing you do so with the utmost care and commitment.

In Solidarity,

Charles Barfield
OCEA General Manager

Publication Date: March 16, 2021