On April 17, 2023, the Ventura County Employees’ Retirement Association (VCERA) Board of Retirement passed the Alameda Resolution excluding a portion of the Flexible Credit Allowance from the compensation earnable calculation for legacy retirement plan members, resulting in reduced pension benefits for those retiring on or after July 30, 2020. In response, on June 27, 2023, the Ventura County Board of Supervisors approved the creation of a Legacy Retiree Healthcare Premium Subsidy and Reimbursement Plan (“Plan”) to provide a monthly healthcare subsidy for eligible members, which can be used for healthcare expense reimbursement.
Additionally, on June 27, 2023, the Board approved an Amendment to the Memorandum of Agreement between the Ventura County Fire Protection District and the Ventura County Professional Firefighters’ Association (VCPFA). This amendment enables the monthly funding of a Legacy Retiree Healthcare Contribution on behalf of eligible retirees, directed into the VCPFA-administered medical trust to cover health-related expenses for qualified retirees.
The Plan will provide eligible retirees a monthly healthcare Benefit based on individual bargaining agreements, with a potential annual increase of up to 3%, that will be funded into a Health Reimbursement Arrangement (HRA) upon the Member’s retirement from the County and the commencement of VCERA annuity payments.
The HRA can be used for out-of-pocket medical, dental, and vision expenses for you and your eligible dependents. An individual HRA account will be set up in the name of the eligible retiree and can be used to pay for eligible expenses including:
Funds from the preceding plan year in a member’s Health Reimbursement Account (HRA) will automatically roll over to successive plan years.
Member’s HRA funds will be forfeited and reverted to Plan general assets only after the Member’s death, or the Member’s beneficiary’s death, and the end of the Claim Run-Out period.
