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From the CEO...

More Great News for SDCERA Members!

Members got an unexpected bonus this month: the San Diego County Board of Supervisors (BOS) approved an additional payment to SDCERA. At its September 12, 2017 meeting, the BOS approved a policy amendment that will direct revenue generated by greater than anticipated assessed value growth to be used to reduce SDCERA's unfunded actuarial accrued liability. This will result in an additional contribution of $22.5 million to SDCERA this fiscal year over and above the County's annual actuarially determined contribution owed to SDCERA, which the County paid in July.

This additional payment is another example of the County's fiscal strength and stewardship. As I always remind County retirees and active employees, they are very fortunate to be Members of a great retirement system sponsored by a great employer. The County has a "Triple-A" credit rating and always pays its bills on time, including ours. Few counties in the country can match this record or the County's leadership triumvirate of BOS Chair Dianne Jacob, Chief Administrative Officer Helen Robbins-Meyer and Chief Financial Officer Tracy Sandoval.

To read my most recent Report to the Board of Retirement, click here.