At the March 10, 2010 meeting, after discussion and Public Comment on the issue, the CCCERA Board voted to keep existing policy for current active and retired members. This means there will be no changes to the Board’s policy on terminal pay items, which has been in place since 1998, for all current members of the system. (Click this link to view the policy “Determining Which Pay Items are “Compensation” for Retirement Purposes.”)

However, the Board voted to make changes for new members who join the system on or after January 1, 2011. Compensation items for these new employees going forward will be covered under a revised retirement board policy addendum which reflects recent case law, defining “cash out” items as “The value of accrued time . . . that is both earned and sold back to the employer during the final compensationperiod . . .” Lump sums at termination will also be defined as “. . . only the time . . . both earned and cashable during the final compensation period. . .” This revised addendum will be posted on this website after the Board adopts a final version.