The Merced County Employees Retirement Association MCERA offers retirement plans, benefits, and solutions for public employees within the state of California. As a limited partner, The Merced County Employees Retirement Association is a public pension fund with $370 million in assets under management. The fund engages in the following alternative investment strategies: buyout, private equity, and venture capital. MCERA was founded in July 1950 and is based in Merced, California.