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SDCERS' mission is to deliver accurate and timely benefits to its participants and ensure the Trust Fund's safety, integrity, and growth.


 

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SDCERS' Board Votes to Set Minimum Pension Payments

At the January meeting, SDCERS' Board of Administration took another important step toward pension stability by voting to set minimum annual pension payments of the Unfunded Actuarial Liability (UAL) for the City of San Diego and the Port of San Diego.

This minimum payment is also referred to as a "floor," meaning even if the required annual payment is less than the "floor," that minimum amount must be paid each year. The UAL floor payment for the City was set at $275.5 million and $13.3 million for the Port. This is based on the June 30, 2018 actuarial valuations which set the payment amount for the fiscal 2020 payment to the retirement system.

The new policy increases benefit security and helps the pension fund reach full funding by 2037, several years earlier than anticipated.

The Board also voted to prospectively limit the long-term impacts of changes to the assumed rate of return (discount rate), retirement rates, and life expectancy assumptions, to a 20-year period from the previous 30-year period.

A video of the Board discussion and vote is available here.

 

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Calendar

Calendar Legend

DateEventDetails
Jan 01       Observed Holidays New Year's Day
Jan 10 9:00 AM       Committee Meetings Disability Committee Meeting
Jan 10 9:15 AM       Committee Meetings Business & Governance Committee Meeting
Jan 10 12:30 PM       Committee Meetings Investment Committee Meeting
Jan 11 8:30 AM       Board Meetings Full Board Meeting
Jan 18 11:30 AM       Seminars Pre-Retirement Seminar
Jan 21       Observed Holidays Martin Luther King, Jr. Day
Jan 25 11:30 AM       Seminars DROP Entry Seminar

The City

This Plan Portal provides City of San Diego active and retired members with general information about your specific retirement plan administered by SDCERS. Depending on your status, click on the Active or Retired button below to get started.

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The Port

This Plan Portal provides Unified Port District active and retired members with general information about your specific retirement plan administered by SDCERS. Depending on your status, click on the Active or Retired button below to get started.

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The Airport

This Plan Portal provides San Diego County Regional Airport Authority active and retired members with general information about your specific retirement plan administered by SDCERS. Depending on your status, click on the Active or Retired button below to get started.

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