The Sacramento County Employees’ Retirement System (SCERS) has launched an initiative to increase the use of direct deposit. About 96% of SCERS members already have their monthly pension payments directly deposited into their bank accounts. Just 4%, or approximately 400 retirees, are receiving paper checks in the mail.
Sacramento County Employees’ Retirement System (SCERS) has hired James Donohue as Deputy Chief Investment Officer (Deputy CIO). The Deputy CIO assists in the formulation and evaluation of investment policies and strategy, the development of the asset allocation and asset class structures, the risk management framework, and the oversight and selection of investment managers and service providers of the $9.2 billion fund.
SCERS continues to make progress on meeting its long-term benefit obligations. The SCERS Board approved the annual actuarial valuation on November 5, 2018, which showed the SCERS funded status increased from 80.4% to 82.5%, on a market value basis, as of June 30, 2018. The unfunded liability is approximately $2 billion and is projected to be eliminated within 20 years.