Alameda California Retirement Benefits Plan

State:
Multi-State
County:
Alameda
Control #:
US-CC-21-166
Format:
Word; 
Rich Text
Instant download

Description

21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service The Alameda California Retirement Benefits Plan is a comprehensive program designed to offer financial security and stability to eligible retired individuals living in the city of Alameda, California. This retirement benefits plan aims to provide retirees with a stable income, healthcare coverage, and various other perks to ensure a comfortable retirement. The Alameda California Retirement Benefits Plan offers several types of benefits, catering to the diverse needs of retired individuals. These types include: 1. Pension Benefits: The plan provides pension benefits, which are regular payments provided to retirees based on their years of service and salary history. The pension benefits aim to replace a portion of a retiree's pre-retirement income and ensure a stable income during retirement. 2. Health Benefits: Retirees enrolled in the Alameda California Retirement Benefits Plan can avail themselves of comprehensive healthcare coverage. This includes medical, dental, and vision benefits, ensuring retirees have access to necessary healthcare services and treatments. 3. Prescription Drug Coverage: The retirement benefits plan also includes prescription drug coverage, providing retirees with financial assistance for their prescription medications. This ensures retirees can access necessary medications without incurring substantial out-of-pocket expenses. 4. Life Insurance: The plan may also offer life insurance benefits, providing retirees with peace of mind by ensuring their loved ones receive financial coverage in the event of their passing. This benefit assists in providing financial security for the retiree's beneficiaries. 5. Cost-of-Living Adjustments: The Alameda California Retirement Benefits Plan may also include cost-of-living adjustments (COLA) based on the changes in the cost of living index. Colas help retirees maintain the purchasing power of their retirement income by adjusting their benefits to keep up with inflation. 6. Retirement Savings Plans: In addition to the base retirement benefits, the plan may offer retirement savings options, such as a 401(k) or 403(b) plan. These plans allow retirees to contribute a portion of their income towards retirement savings, further ensuring long-term financial security. The Alameda California Retirement Benefits Plan is a comprehensive offering that provides retirees with a wide range of benefits, including pension benefits, healthcare coverage, prescription drug benefits, life insurance, cost-of-living adjustments, and retirement savings options. By combining these benefits, the plan aims to support individuals in achieving a comfortable and financially stable retirement in Alameda, California.

The Alameda California Retirement Benefits Plan is a comprehensive program designed to offer financial security and stability to eligible retired individuals living in the city of Alameda, California. This retirement benefits plan aims to provide retirees with a stable income, healthcare coverage, and various other perks to ensure a comfortable retirement. The Alameda California Retirement Benefits Plan offers several types of benefits, catering to the diverse needs of retired individuals. These types include: 1. Pension Benefits: The plan provides pension benefits, which are regular payments provided to retirees based on their years of service and salary history. The pension benefits aim to replace a portion of a retiree's pre-retirement income and ensure a stable income during retirement. 2. Health Benefits: Retirees enrolled in the Alameda California Retirement Benefits Plan can avail themselves of comprehensive healthcare coverage. This includes medical, dental, and vision benefits, ensuring retirees have access to necessary healthcare services and treatments. 3. Prescription Drug Coverage: The retirement benefits plan also includes prescription drug coverage, providing retirees with financial assistance for their prescription medications. This ensures retirees can access necessary medications without incurring substantial out-of-pocket expenses. 4. Life Insurance: The plan may also offer life insurance benefits, providing retirees with peace of mind by ensuring their loved ones receive financial coverage in the event of their passing. This benefit assists in providing financial security for the retiree's beneficiaries. 5. Cost-of-Living Adjustments: The Alameda California Retirement Benefits Plan may also include cost-of-living adjustments (COLA) based on the changes in the cost of living index. Colas help retirees maintain the purchasing power of their retirement income by adjusting their benefits to keep up with inflation. 6. Retirement Savings Plans: In addition to the base retirement benefits, the plan may offer retirement savings options, such as a 401(k) or 403(b) plan. These plans allow retirees to contribute a portion of their income towards retirement savings, further ensuring long-term financial security. The Alameda California Retirement Benefits Plan is a comprehensive offering that provides retirees with a wide range of benefits, including pension benefits, healthcare coverage, prescription drug benefits, life insurance, cost-of-living adjustments, and retirement savings options. By combining these benefits, the plan aims to support individuals in achieving a comfortable and financially stable retirement in Alameda, California.

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Alameda California Retirement Benefits Plan