Latest News

SDCERS' Board Appoints New Vice President and Committee Chairs

Date: Sep 13, 2019 Categories: Board, News Articles, Press Release

At the September 13th Board meeting, Board President Carol Broad appointed Carina Coleman to the position of Vice President. The appointment was unanimously approved by the remaining members of the Board who were present. The Vice President’s duties include acting as the Board President whenever the Board President is absent or otherwise unable to fulfill their duties, and temporarily assuming the role of Board President until an election can be scheduled in the event the current Board President’s seat becomes vacant. Ms. Coleman was additionally appointed to be the new Chair of the Investment Committee, a seat previously occupied by Board President Carol Broad.From Left to Right: Charlie Hogquist, Carina Coleman, Carol Broad, and Thanasi Preovolos The Audit Committee reappointed Roberta Spoon as its Chair, and the current Chairs of the Business and Governance Committee and Disability Committee will remain the same as well: Thanasi Preovolos and Charles Hogquist, respectively. Please join us in congratulating our new Vice President and Committee Chairs! You can watch the September 13th Board meeting by going to Board Meeting Agendas and clicking on “View Media” next to the September 13, 2019 Board of Aministration Meeting line item.   Learn More...

SDCERS' Board Welcomes Two New Members, and Carina Coleman Reappointed for Second Term

Date: Aug 05, 2019 Categories: Board, News Articles, Press Release

Last week, the City Council unanimously approved the Mayor’s appointment of two new Board Members: Clifford Schireson and Paul Kaufmann. The City Council also approved the reappointment of veteran Board Member Carina Coleman.Carina Coleman and Paul Kaufmann being sworn in at the Office of the City Clerk. We are thrilled to welcome our new Board Members, and also to have Carina Coleman back for a second term! You can see all three at our next Board meeting on September 13th at 8:30 a.m. in our Board room. If you can’t attend in person, you can tune in to the live broadcast by clicking on “Board Meeting Agendas”, following the link to the online agendas, and clicking on “Live Media” in the Board of Administration line when the meeting starts. Please read the full article for more information about these three Board Members. Learn More...

New SDCERS Board President

Date: Jul 12, 2019 Categories: Board, News Articles, Press Release

After former Board President Val Hoy maxed out his term limit, the Board established a Nomination Committee at its May meeting to nominate a fellow Board Member for the vacant position. Today, the Nomination Committee unanimously recommended Carol Broad be elected as the new Board President, and the Board unanimously approved this recommendation. Carol has served as the Board’s Vice President since July 13, 2018 and she has acted as the interim Board President since Val Hoy vacated the office. Carol is also the Chair of the Investment Committee and has over 30 years of experience in the financial industry, particularly in providing investment advice to major public and corporate pension funds. For more information about Carol’s professional background. Learn More...

SDCERS Recognizes Outgoing Board Trustees

Date: Jun 17, 2019 Categories: Board

Serving as an SDCERS Trustee requires expertise, attention and time – with no compensation – and a commitment to delivering accurate and timely benefits to participants and ensure the trust fund’s safety, integrity and growth. Having accomplished this, three SDCERS Board Trustees were recently honored for their service.Board President and Mayoral Appointee Valentine S. Hoy, Mayoral Appointee William W. Haynor and Active Police Safety Trustee Thomas A. Sullivan, who each served two four-year terms, were recognized at the March 10, 2019 Board meeting, and at a send-off event in April. The new Board President will be selected at the July Board meeting. We are excited to welcome Sgt. Louis Maggi as our newly elected Active Police Safety Trustee seat. SDCERS is governed by a 13-member Board of Administration, responsible for the prudent administration of retirement benefits for City of San Diego, San Diego Unified Port District and San Diego County Regional Airport employees, and for overseeing the investment portfolio of the retirement system’s trust fund. Learn More...

Fiscal Year 2020 COLA & City Retiree Health Open Enrollment Help Day

Date: Jun 05, 2019 Categories: Board, COLA, News Articles, Open Enrollment, Press Release

At its May 10, 2019 meeting, the Board approved two Cost of Living Adjustments (“COLA”) that will be applied to eligible retirees’ monthly benefit from July 2019 – June 2020. Members whose retirement date is before July 1, 2018 will receive a COLA increase of 2.0%. Members whose retirement date is between July 1, 2018 and June 30, 2019 will receive a COLA increase of 1.9%.  Also, 2019-2020 Health Open Enrollment for eligible City Retirees will run from June 3 – 28, 2019. This year’s Health Open Enrollment Help Day is Friday, June 14 at the Balboa Park Club Ballroom. There will be no formal presentations, but SDCERS staff and representatives from sponsored health plans will be available to answer questions from 10:00 a.m. – noon. You may also submit your enrollment forms directly to SDCERS staff at this event. Click here for more information Learn More...

SDCERS' Board Votes to Set Minimum Pension Payments

Date: Jan 17, 2019 Categories: Actuarial Valuations, Board, News Articles, Pension, Press Release

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.   Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2018

Date: Nov 09, 2018 Categories: 13th Check and Corbett, Board, News Articles

At its November 9, 2018 meeting, the SDCERS' Board of Administration approved the payment of the "13th Check" supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2018 monthly retirement benefit. The "13th Check" and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.   Learn More...

DROP Interest Crediting Rate Change for 2019

Date: Nov 09, 2018 Categories: Board, DROP, News Articles

At its November 9, 2018 meeting, the SDCERS' Board of Administration approved staff's recommendation to change the DROP (Deferred Retirement Option Plan) interest rates for the DROP Participation Accounts and DROP Annuities, effective January 1, 2019. The interest rate for DROP Participation Accounts was increased to 2.7 percent. DROP Participation Accounts are the accounts that Active DROP members (those still working) contribute to during their five-year-maximum participation period. The current rate is 2.0 percent, through December 2018. The interest rate for a new DROP Annuity was increased to 3.0 percent. A DROP Annuity is a payment option available to DROP participants when they retire from DROP. Under this payment option, retirees receive a monthly DROP payment (annuity) in addition to their monthly retirement benefit (pension). The current rate is 2.8 percent for anyone who enters into a DROP Annuity through December 2018. Important: This has no effect on retirees who have already entered into a DROP Annuity. The DROP Annuity rate is permanent once the annuity disbursement begins.   Learn More...

Hoy Reelected Board President

Date: May 11, 2018 Categories: Board, News Articles, Press Release

SDCERS' Board of Administration reelected Valentine Hoy to serve as Board President for a second one-year term at its May 11, 2018 meeting. Prior to serving as Board President, Hoy served as the Board's Vice President and as the Board's Business and Governance Committee Chair. Appointed by Mayor Sanders in 2011, Hoy has practiced law in San Diego since 1985. He is a litigation partner in the San Diego office of Allen Matkins Leck Gamble Mallory & Natsis LLP. He previously served as a trustee and board president of the San Diego Museum of Man. SDCERS administers defined benefit plans for the City of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority and provides service retirement, disability retirement, death and survivor benefits to more than 20,800 members. Learn More...

Cost of Living Adjustment (COLA) Approved by SDCERS Board of Administration

Date: May 11, 2018 Categories: Board, COLA, News Articles, Press Release

A Cost of Living Adjustment (COLA) was approved by the SDCERS' Board of Administration at its May 11, 2018 meeting. The COLA will be applied to the retirement benefits of eligible SDCERS retirees effective July 1, 2018. Two separate COLAs were approved and differ depending on when the eligible member retired:-Eligible retirees who retired before July 1, 2018 will receive a COLA increase of 2.0% -Eligible retirees who are in the 1981 retirement plan will receive a COLA increase of 1.4%   Learn More...

SDCERS Names Gregg Rademacher as New Chief Executive Officer

Date: Jan 12, 2018 Categories: Board, News Articles, Press Release

Gregg Rademacher has been selected to serve as the San Diego City Employees’ Retirement System's next Chief Executive Officer, taking over for Mark Hovey, who retired this month after eight years at the helm of the public employees pension system. SDCERS manages approximately $8 billion in assets for the benefit of over 20,000 active and retired employees of the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority. Mr. Rademacher served for the last 20 years as an officer of the Los Angeles County Employees’ Retirement Association, including 11 years as the Chief Executive Officer of that pension system. With over $53 billion in assets, LACERA, as it is known, is one of the largest public employee pension systems in California. For additional information, please click here. Learn More...

DROP Interest Crediting Rate Change for 2018

Date: Nov 03, 2017 Categories: Board, DROP, News Articles

At its November 3, 2017 meeting, the SDCERS' Board of Administration approved staff's recommendation to change the DROP (Deferred Retirement Option Plan) interest rates for the DROP Participation Accounts and DROP Annuities, effective January 1, 2018. Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2017

Date: Nov 03, 2017 Categories: 13th Check and Corbett, Board, News Articles

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2017 monthly retirement benefit.   Learn More...

SDCERS Board of Administration Adjusts Discount Rate to 6.5% Over Two Years

Date: Sep 15, 2017 Categories: Board, Discount Rate, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration voted to reduce the System’s discount rate from 7.0% to 6.75%, effective with the June 30, 2017 actuarial valuation, and from 6.75% to 6.5%, effective with the June 30, 2018 actuarial valuation, following a detailed presentation by the System’s actuary Cheiron. The Board of Administration approved the new discount rate at its meeting on September 8, 2017 by a vote of 10-2. Learn More...

Mark Hovey, SDCERS’ Chief Executive Officer, Will Step Down December 1

Date: Sep 05, 2017 Categories: Board, News Articles, Press Release

The San Diego City Employees’ Retirement System Chief Executive Officer has informed the Board that he will step down effective December 1, 2017.  Mr. Hovey’s plans are to retire after serving for eight years as the CEO of the pension fund system that manages approximately $8 billion in assets for the benefit of over 20,000 members. Learn More...

Hoy Elected Board President

Date: Jul 14, 2017 Categories: Board

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration has elected Valentine Hoy to serve as Board President, effective July 14, 2017. Appointed by Mayor Sanders in 2011, Hoy has practiced law in San Diego since 1985. He is a litigation partner in the San Diego office of Allen Matkins Leck Gamble Mallory & Natsis LLP.  He previously served as a trustee and board president of the San Diego Museum of Man. Hoy served as Chair of the Board’s Business and Governance Committee for the past two years and as Vice President of the Board for the past year.  He succeeds Alan Arrollado, who held the position of Board President for the past two years.   Learn More...

Contribution Rates for City Members in Effect July 1st

Date: Jul 01, 2017 Categories: Actuarial Valuations, Board, Contribution Rates, News Articles

Important: These rate changes only apply to City of San Diego members of SDCERS; Unified Port District and Airport Authority members are not affected. New contribution rates went into effect July 1, 2017 for City of San Diego members only. Most members will note only a minor adjustment on their July 28 paycheck.   Learn More...

Two Respected Trustees End Their Time at SDCERS

Date: May 16, 2017 Categories: Board

SDCERS recently honored two highly respected trustees, Ed Kitrosser and Alan Arrollado, for their service on the Board of Administration.  Both Trustees served as president of the Board during their tenure, ensuring retirement security for the members of SDCERS during especially difficult times. Learn More...

Cost of Living Adjustment (COLA) Approved by SDCERS Board of Administration

Date: May 12, 2017 Categories: Board, COLA, News Articles

A Cost of Living Adjustment (COLA) was approved by the SDCERS’ Board of Administration at its May 12, 2017 meeting. The COLA will be applied to the retirement benefits of eligible SDCERS retirees effective July 1, 2017. Two separate COLAs were approved and differ depending on when the eligible member retired.​ Learn More...

Spoon and Kenney to Serve as Mayoral Appointees on SDCERS Board of Administration

Date: May 10, 2017 Categories: Board, News Articles, Press Release

Roberta Spoon and George Kenney have been designated by Mayor Kevin Faulconer to serve as mayoral appointees on the San Diego City Employees’ Retirement System (SDCERS) Board of Administration. Spoon and Kenney’s appointments were confirmed by the San Diego City Council on April 25, 2017. Learn More...

SDCERS Holds Two Board Elections

Date: Mar 22, 2017 Categories: Board, News Articles

The San Diego City Employees’ Retirement System (SDCERS) conducted elections for two Active General Trustee seats and one Active Fire Safety Trustee seat on their Board of Administration. Learn More...

SDCERS is Now Accepting Nominations for two Active General Trustee Seats and one Active Fire Safety Trustee Seat

Date: Jan 25, 2017 Categories: Board

SDCERS is currently accepting nominations for an election to fill two Active General Trustee seats and one Active Fire Safety Trustee seat on the Board of Administration. The deadline for nominations is Monday, February 13. Learn More...

SDCERS Welcomes New General Board Trustee

Date: Dec 02, 2016 Categories: Board

The San Diego City Employees’ Retirement System (SDCERS) announced the election of Thomas Battaglia to fill an open General Member Trustee seat on the SDCERS Board of Administration. Battaglia has been elected to serve the remaining four-year term ending March 31, 2017.   Learn More...

DROP Interest Crediting Rate Change for 2017

Date: Nov 04, 2016 Categories: Board, DROP

At its November 4, 2016 meeting, the SDCERS' Board of Administration approved staff's recommendation to change the DROP (Deferred Retirement Option Plan) interest rates for the DROP Participation Accounts and DROP Annuities, effective January 1, 2017. Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2016

Date: Nov 04, 2016 Categories: 13th Check and Corbett, Board, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2016 monthly retirement benefit.   The “13th Check” and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.   Learn More...

SDCERS is Now Accepting Nominations for the Vacant Active General Trustee Seat

Date: Oct 25, 2016 Categories: Board

Active general members of SDCERS were sent a letter with instructions on the nomination process. Candidates must be active general members of SDCERS employed by the City of San Diego. Nominating petitions are to be submitted online, and candidates must obtain a minimum of 10 endorsements online from active general members, employed by the City of San Diego, no later than 5:00 P.M. on Wednesday, November 2, 2016. Click here for more information.    Learn More...

SDCERS Welcomes New Retired Board Trustee

Date: Sep 19, 2016 Categories: Board, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) today announced the election of Charles Hogquist as the Retired Trustee to the SDCERS Board of Administration. Hogquist has been elected to serve the remaining four-year term ending March 31, 2019, left vacant by Richard Wilken. Learn More...

SDCERS Board Decision on Experience Study and Associated Actuarial Assumptions

At its September 9th meeting, the SDCERS Board of Administration discussed an experience study from the system’s actuary that covered revised economic and demographic assumptions, associated cost implications, and funding alternatives. The Board voted to accept the findings of the experience study and the actuarial assumption recommendations of the actuary. A second and separate Board vote to modify the system’s current funding methodology and to smooth the volatility of future pension contributions did not pass; the vote was 6-4 and a majority of 7 votes was required for the proposal to pass. Learn More...

Contribution Rates for City Members in Effect July 1st

Contribution rates went into effect July 1, 2016 for City of San Diego members only. Most members will note only a minor adjustment. As PEPRA members, the San Diego Unified Port District and San Diego County Regional Airport Authority are not affected. Learn More...

Retired Trustee Election--Deadline Extended to July 15

Date: Jun 01, 2016 Categories: Board, News Articles

SDCERS is currently accepting nominations for an election to fill the remaining term of the vacant Retired Trustee seat on the Board of Administration. Deadline to submit nominations is Friday, July 15.    Learn More...

Deadline to File for a Disability Retirement Shortened

Date: Jan 11, 2016 Categories: Board, News Articles

At the January 2016 SDCERS meeting, the Board of Administration shortened the time period for an inactive or retired member to apply for a disability retirement from three years of discontinuance of active service or retirement, to two years. However, any member that is already inactive or retired as of January 8, 2016 will still have three years to apply.  Please review Board Rule 7.30 for important details (www.sdcers.org under the Resources tab, Board Rules and Policies). Learn More...

SDCERS Releases Latest Actuarial Valuations

At its January 8 meeting, the San Diego City Employees’ Retirement System (SDCERS) Board of Administration reviewed preliminary annual actuarial valuations as of June 30, 2015 for the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority. Learn More...

​SDCERS Board of Administration Adjusts Discount Rate to 7.125%

Date: Nov 23, 2015 Categories: Board, Discount Rate, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration voted to reduce the System’s discount rate to 7.125%, following a detailed presentation by the System’s actuary Cheiron. The Board of Administration approved the new discount rate at its meeting on November 13, 2015 by a vote of 7-4. The change is effective with the June 30, 2015 actuarial valuation, which determines employee and employee contributions for the fiscal year beginning July 1, 2016. Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2015

Date: Nov 13, 2015 Categories: 13th Check and Corbett, Board, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration today approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2015 monthly retirement benefit.   Learn More...

DROP Interest Crediting Rate Change for 2016

Date: Nov 13, 2015 Categories: Board, DROP, News Articles, Press Release

At its November 13, 2015 meeting, the SDCERS' Board of Administration approved staff's recommendation to change the DROP (Deferred Retirement Option Plan) interest rates for the DROP Participation Accounts and DROP Annuities, effective January 1, 2016. Learn More...

Arrollado Elected Board President

Date: Jul 16, 2015 Categories: Board, News Articles, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration has elected Alan Arrollado to serve as Board President, effective July 10, 2015. Arrollado was elected to the Board of Administration in 2009 and re-elected for another four-year term in 2013. Learn More...

Independent Audit Committee Welcomes Greg Kowieski

Date: Sep 15, 2014 Categories: Board

The SDCERS Board of Administration on Friday unanimously appointed Greg Kowieski to the independent Audit Committee. The Audit Committee also thanked outgoing member Marilyn Creson Brown for eight years of service to the pension system at a special recognition ceremony earlier in the week.   Learn More...

Arrollado Re-Elected Vice President of the Board of Administration

Date: Jul 14, 2014 Categories: Board, Press Release

On Friday, the Board of Administration re-elected Alan Arrollado to the position of Vice President. Alan was elected by SDCERS’ Fire Safety members as their representative on the Board and has been with the City's fire department for more than 24 years. He currently serves on the Board’s Business and Governance Committee and Disability Committee.   Learn More...

Kitrosser Unanimously Re-Elected SDCERS Board President

Date: May 09, 2014 Categories: Board

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration today unanimously re-elected Edward Kitrosser as Board president. Kitrosser was appointed to the Board of Administration in April 2009 by Mayor Jerry Sanders and was reappointed to serve a second four-year term in July 2013. His second, one-year term as Board president is effective immediately and will expire on May 9, 2015. Learn More...

Pension System Actuarial and Investment Strategies Trending Favorably

Date: Mar 20, 2014 Categories: Board, Investments, Pension, Retirement Resources

There is no shortage of news media coverage focused on how public pension funds, in California and across the country, are yielding significant investment returns while simultaneously growing liabilities even faster. Learn More...

SDCERS Board of Administration Adjusts Discount Rate to 7.25%

Date: Nov 08, 2013 Categories: Board, Discount Rate, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration today voted to reduce the System’s discount rate to 7.25%, affirming a recommendation by the system’s actuary Cheiron. The Board of Administration approved the new discount rate at its meeting by a vote of 8-4. Learn More...

Board of Administration Welcomes James B. Smith III to SDCERS’ Audit Committee

Date: Sep 23, 2013 Categories: Board, Press Release

The San Diego City Employees’ Retirement (SDCERS) Board of Administration has approved the appointment of James (Jim) B. Smith III to the Audit Committee. Smith, who succeeds Mike Collins, has been appointed to serve a four-year term as one of the Committee’s three independent members. Learn More...

Discount Rate Adjustment Proposed for SDCERS - FAQ

Date: Sep 21, 2013 Categories: Board, Discount Rate

On November 8, 2013, the SDCERS Board of Administration will vote on a proposed discount rate change. The following FAQ was prepared to provide background information in advance of that vote. Learn More...

Collura to Serve as Ex-Officio, Mayoral Designee on SDCERS Board of Administration

Date: Sep 20, 2013 Categories: Board, Press Release

Natasha Collura has been appointed by Interim Mayor Todd Gloria to serve as the ex-officio, mayoral designee on the San Diego City Employees' Retirement System (SDCERS) Board of Administration. Collura, who succeeds mayoral designee Nelson Hernandez, will begin her appointment on Friday, November 8, 2013. Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2013

Date: Sep 20, 2013 Categories: 13th Check and Corbett, Board

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration has approved the payment of the “13th Check” supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2013 monthly retirement benefit check. Learn More...

Kitrosser Unanimously Elected SDCERS Board President

Date: Aug 20, 2013 Categories: Board, Press Release

The San Diego City Employees’ Retirement System (SDCERS) Board of Administration has unanimously elected Edward Kitrosser to serve as Board president. Kitrosser was appointed to the Board of Administration in April 2009 by Mayor Jerry Sanders and was reappointed by Mayor Bob Filner to serve a second four-year term in July 2013.  Learn More...

Hernandez to Serve as Ex-Officio, Mayoral Designee on SDCERS Board of Administration

Date: Aug 07, 2013 Categories: Board, Press Release

The San Diego City Employees' Retirement System today announced that Nelson Hernandez has been appointed by Mayor Bob Filner to serve as the ex-officio, mayoral designee on the Board of Administration. Hernandez, who succeeds mayoral designee Greg Bych, will begin his appointment on Friday, August 9, 2013. Learn More...

City Council Approves Appointments to the SDCERS Board of Administration

Date: Jul 30, 2013 Categories: Board, Press Release

The San Diego City Employees’ Retirement System (SDCERS) has announced the appointment of Jeannie Posner, Athanasios (Thanasi) Preovolos, K. Denise Thompson and the reappointment of Edward Kitrosser to the Board of Administration. Posner, Preovolos, Thompson and Kitrosser have been appointed by Mayor Bob Filner and confirmed by the City Council to serve four-year terms ending March 31, 2017. Learn More...

Mayor Vetoes Appointments to SDCERS Board of Administration

Date: Jul 18, 2013 Categories: Board, Press Release

Mayor Bob Filner has vetoed the Council resolution confirming his appointment of four Trustees to the SDCERS Board of Administration, following appointee Mark Ealy's decision not to serve. Herb Morgan, Edward Kitrosser, Athanasios (Thanasi) Preovolos and Mark Ealy were appointed by Mayor Filner in May and confirmed by the City Council in June to serve four year terms ending March 31, 2017. Learn More...

SDCERS Board Decision on Revised Actuarial Valuation

Date: Jul 02, 2013 Categories: Actuarial Valuations, Board, Press Release

At its June 28th meeting, the SDCERS Board of Administration discussed and voted on a revised June 30, 2012 Actuarial Valuation that was developed to reflect the 5-year freeze on pensionable pay agreements between the City and its six labor unions. Learn More...

Bimonthly Board Meeting Schedule Set to Begin This Fall

Date: Jun 28, 2013 Categories: Board

The SDCERS’ Board of Administration at its June meeting approved a new, bi-monthly meeting schedule set to begin this fall. Learn More...

Mayor Reappoints Morgan and Kitrosser, Appoints Preovolos to SDCERS Board of Administration

Date: Jun 25, 2013 Categories: Board, Press Release

The San Diego City Employees’ Retirement System (SDCERS) today announced the reappointment of Herb Morgan and Edward Kitrosser and the appointment of Athanasios (Thanasi) Preovolos to the Board of Administration. Morgan, Kitrosser and Preovolos have been appointed by Mayor Bob Filner to serve four-year terms ending March 31, 2017. Learn More...

SDCERS Welcomes New Board Trustees

Date: Apr 15, 2013 Categories: Board, Press Release

The San Diego City Employees’ Retirement System (SDCERS) today announced the election of James Steel and Jeffrey Wallace, and the re-election of Alan Arrollado, to the SDCERS Board of Administration. Steel, Wallace and Arrollado have been elected to serve four-year terms ending March 31, 2017. Learn More...

SDCERS Now Accepting Nominations for Trustee Elections

Date: Nov 15, 2012 Categories: Board

Nominating Petitions were mailed on Nov. 21st to all General and Fire Safety Members in preparation for upcoming elections for three seats on the SDCERS Board of Administration. Learn More...

Herb Morgan Re-Elected As SDCERS Board President

Date: Aug 15, 2012 Categories: Board, Press Release

The San Diego City Employees' Retirement System (SDCERS) Board of Administration unanimously re-elected Herb W. Morgan as Board president at its regular meeting August 11, 2012. Morgan was first appointed to the SDCERS Board in 2009 by San Diego Mayor Jerry Sanders. Learn More...

SDCERS' Position on Voluntary Brown Act Compliance

Date: Aug 01, 2012 Categories: Board

As part of its budget savings efforts, the State Legislature recently suspended the Brown Act mandate for local jurisdictions, including SDCERS. This suspension allows local jurisdictions like SDCERS to forego posting agendas and reporting to the public actions taken during closed session meetings. Learn More...

SDCERS Board Approves Annual Retiree COLA, Effective July 1, 2012

Date: Jul 01, 2012 Categories: Board, COLA

The SDCERS Board of Administration has approved the annual Cost of Living Adjustment (COLA), effective July 1, 2012, to be applied to the retirement benefits of eligible SDCERS retirees. The COLA is also applied to survivor benefits. For eligible retirees who retired prior to July 1, 2012, a COLA increase of 2% will be applied. Eligible 1981 Plan retirees will receive a 1.4% COLA increase. Special Safety Class retirees are not eligible for COLA increases. Survivors receiving a continuance receive the COLA of whichever group to which the deceased member belonged. Learn More...

Board Approves Contribution Rate Changes for City Employees, Effective July 2012

Date: Apr 13, 2012 Categories: Board, Contribution Rates

Active SDCERS Members working for the City of San Diego will see a change in their Member contribution rates beginning in July 2012.  These Member contributions are the required pre-tax contributions to the SDCERS trust fund that are deducted from Members’ bi-weekly paychecks. Contribution rates are determined by a Member’s plan (General or Safety plans) and age of entry into SDCERS.   Learn More...

SDCERS Board Approves Changes to DROP Interest Crediting Rate

Date: Dec 16, 2011 Categories: Board, DROP

At its December 16, 2011 meeting, SDCERS' Board of Administration approved staff's recommendation to change the DROP (Deferred Retirement Option Plan) interest rates for the DROP Participation Accounts and DROP Annuities, effective January 1, 2012. Learn More...

SDCERS' Experience Study Results in Adjustments

Date: Oct 13, 2011 Categories: Board

SDCERS’ actuary performs an Experience Study every three to five years to evaluate the entire set of actuarial assumptions used in the valuation process. Evaluating the assumptions and making minor “course corrections” on these 30+ year, long-term assumptions is standard fiduciary best practice for actuarial reporting and funding. Learn More...

City Council Approves Ordinance Removing SDCERS' Authority to Settle Litigation

Date: Sep 15, 2011 Categories: Board, Litigation

The San Diego City Council has approved an ordinance designed to remove SDCERS' constitutional authority to settle litigation without approval of the Council.On September 13, 2011, the City Council voted unanimously in favor of the ordinance. Proposal of the ordinance came after SDCERS' Board of Administration settled the Italiano/MEA case, after significant deliberation and consideration of the risk in incurring greater litigation costs. Learn More...

SDCERS Board of Administration Names New CEO

Date: Jun 11, 2010 Categories: Board, Press Release

SDCERS' Board of Administration announced that it has named Mark A. Hovey as its new Chief Executive Officer, following a unanimous vote of the Board.  For more information, click the related press release below. Learn More...

Retirement Board Takes Action on "Substantially Equal"

Date: Jun 02, 2010 Categories: Board, Litigation

SDCERS' Board of Administration recently took two important actions regarding the "substantially equal" language contained in City Charter section 143, following three public sessions in which the topic was discussed and analyzed extensively. Learn More...

SDCERS Board Names Mark Hovey as Interim CEO

Date: Nov 23, 2009 Categories: Board, Press Release

SDCERS' Board of Administration has appointed Mark A. Hovey as interim Chief Executive Officer. Hovey currently serves as SDCERS' Chief Financial Officer and will become interim CEO effective December 1, 2009. Learn More...

Board Votes Not to Change Actuarial Methods

Date: Sep 18, 2009 Categories: Board, Press Release

At its September 18, 2009 meeting, SDCERS' Board of Administration voted not to change any current actuarial methods for its three plan sponsors. Learn More...

SDCERS to Recommend Board Authorize Payment of 13th Check & Corbett

Date: Nov 13, 2008 Categories: 13th Check and Corbett, Board, Investments

Good news to report: SDCERS has completed detailed year-end calculations and, based on the unaudited financial statements for the fiscal year ended June 30, 2008. Learn More...

SDCERS Welcomes New Board Appointees

Date: Oct 17, 2008 Categories: Board

SDCERS is pleased to announce the appointments of Mark E. Oemcke and Raymond G. Ellis to the Board of Administration. Learn More...

David A. Hall Joins SDCERS Board

Date: Mar 21, 2008 Categories: Board

David A. Hall has joined the SDCERS Board of Administration as the Retiree representative, replacing Carmen Lutes. Learn More...