The purpose of the yearly financial statement audit is to audit MercedCERA’s financial statements in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards (GAS), issued by the Comptroller General of the United States. 

Funding for your retirement benefit is provided from three sources: employer contributions, employee contributions, and investment earnings. Each year, Merced County Employees’ Retirement Association (MercedCERA) engages an independent actuarial firm to conduct an accounting of the Plan’s funded level. The main purpose of the actuarial valuation is to determine the employer and employee contribution rates that will sufficiently fund the plan.