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.

The SCERS Board also adopted 2019-20 contribution rates.  The employer contribution rates are increasing as expected due to the discount rate change last year when the Board adopted a more conservative long-term investment assumption of 7%.  The aggregate employer rate increased from 24.46% to 26.85% of payroll.   

Employee contribution rates remained relatively stable; the aggregate rate increased from 11.75% to 11.77% of payroll.  See all employer and employee contribution rates for 2019-20.