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Funded Status Improves to 82.5%
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.
SCERS Announces New Newsletter
Welcome to our new newsletter. Our goal is to provide you with interesting news and resources throughout the year, whether you retired 10 years ago or are 10 years away from retirement.
The newsletter will be mailed to all of our active and retired members. The newsletter will also be posted to our website. Please check the Newsletters section for new issues.
SCERS Board Election Results
The Sacramento County Department of Voter Registration and Elections announced election results on October 18, 2018, for three seats on the SCERS Board. Matt Petersen, a captain in the Sheriff’s Department, was elected as Safety Representative; John Conneally, a fire battalion chief at the Sacramento County Airport, was re-elected as Alternate Safety Representative; and, Diana Gin, a human resources manager with the Department of Personnel Services, was elected as Miscellaneous Representative. Ms. Gin previously served on the SCERS Board from 2011-2016. The three-year terms begin January 1, 2019.
SCERS Launches New Website
The Sacramento County Employees’ Retirement System (SCERS) is pleased to announce the launch of its new website. This is the first phase of our website redesign project, which will provide our members improved functionality and additional features on a modern platform, including a responsive design which enhances usability on mobile devices.
SCERS’ Earnings Exceed 10% in 2017-18
The Sacramento County Employees’ Retirement System (SCERS) announced a preliminary total fund return of 10.1%, gross of investment management fees, for the fiscal year ending June 30, 2018. Over the last 3 and 5 years, the SCERS’ gross annualized return was 7.6% and 8.3%, respectively. Though SCERS’ returns have come in above the actuarial return of 7.0%, we remain cautious about future expectations. Capital market assumptions continue to point toward reduced returns going forward, as demonstrated by periods of increased market volatility in 2018.
2018 Retirement Board Election
An election will be held for the Sacramento County Employees’ Retirement System (SCERS) Retirement Board for a Miscellaneous Representative, Safety Representative, and an Alternate Safety Representative. The terms of office for all three trustees will begin January 1, 2019 and end December 31, 2021.
Why Did My Pension Contribution Increase?
New Rates Effective July 2018
Employees may have noticed changes in pension deductions on their final paycheck for July. The SCERS Board approved new contribution rates last year that took effect for July 2018. The specific rates vary based on retirement tier and labor agreement.
Customer Service Update
For more than 75 years, SCERS has provided retirement security for the dedicated public employees who serve the residents of Sacramento County. Our pension system is more than 80% funded and sustainable – we can provide benefits without interruption to our retirees, current employees, and generations of future workers. However, issuing our new retirees their first retirement check takes longer than it should. We can do better, and we will.