The TCERA Board of Retirement (Board) is responsible for establishing policies governing the administration of the retirement plan, making benefit determinations and managing the investment of the system’s assets. The Board operates under authority granted by Article XVI of the Constitution of the State of California. The TCERA plan is governed by the provisions of the County Employees Retirement Law of 1937, Title 3, Division 4, Part 3, Chapter 3 (commencing with Section 31450) of the California Government Code, The United States Tax Code, and case law applicable to public employee pension plans. The TCERA Board is a nine-member Board comprised of four trustees appointed by the Tulare County Board of Supervisors, four trustees are elected by TCERA’s members, two elected by General members, one elected by Safety members, and one elected by Retired members. The County Auditor-Controller/Treasurer-Tax Collector is an ex-officio member of the Board. Alternate Board members may also exist for the Auditor-Controller/Treasurer-Tax Collector, the Safety member, and Retired member according to applicable law. Board members serve three-year terms in office, with no term limits.
The Chairman of the Board of Retirement may establish an investment committee and/or an administrative committee if it is determined that a committee will be of benefit in discussing and analyzing certain agenda items in detail. Ad hoc committees may be established from time to time for special issues and projects as determined by the Chairman of the Board of Retirement. These committees exist in an advisory capacity only, unless the Board of Retirement has specifically delegated approval authority to the Committee for specific agenda items. Committees consist of no more than four voting members to ensure compliance with California’s open meeting laws.
The Administrative Committee, compromised of members of the retirement board, generally meets once a month to discuss and recommend changes to administrative policies, review financial matters including expenses of the plan, and provide input to staff and the Board of Retirement regarding other administrative matters.
The Investment Committee, compromised of members of the retirement board, generally meets once a month to discuss the performance of investment managers, the status of the plan's assets and liabilities, investment goals for the plan and provides recommendations regarding investment education for trustees.
Ad hoc committees are established by the Chairman of the Board of Retirement to meet, discuss, and make recommendations regarding specific projects or areas of interest. Ad hoc committees generally have limited scope and are dissolved when the assignment delegated to the committee is complete.
Committees will report their activity and recommendations to the Board of Retirement on a regular basis as directed by the Chairman of the Board.