News For -

SDCERS Board Approves Annual Supplemental Benefit and Corbett Settlement Increase for 2020

At its November 13, 2020 meeting, SDCERS’ Board of Administration approved payment of the Annual Supplemental Benefit and the Corbett Settlement Increase (“Corbett benefit”) for eligible retirees and continuance beneficiaries. The Annual Supplemental Benefit is paid in years when the fund’s investment earnings are sufficient to qualify, according to a set formula defined in the plan documents, and the Corbett benefit is paid in years that the Annual Supplemental Benefit is paid. If you are eligible for one or both of these benefits, payment will be included in your November 2020 monthly pension benefit.   The eligibility requirements for the Annual Supplemental Benefit and Corbett benefit are described in our FAQs under “Annual Supplemental Benefit, Corbett, COLA, COL Annuity.” Here, you will also find a description of how these benefits are calculated.   In addition to the requirements outlined in the FAQ’s, in order to be eligible for the Annual Supplemental Benefit, a retiree or continuance beneficiary must have been (1) alive, and (2) eligible to receive a monthly pension benefit on October 1, 2020. If an eligible retiree died on or after October 1, 2020, the retiree’s continuance beneficiary is not eligible for their own Annual Supplemental Benefit. In this case, the retiree’s Annual Supplemental Benefit payment will be included in the $2,000 Retiree Death Benefit and Other Payable Monies, which is paid to the beneficiary(ies) named to receive that death benefit. Learn More...

2021 Deferred Retirement Option Plan ("DROP") Interest Rates

Date: Nov 13, 2020 Categories: Board, DROP, News Articles, Press Release

At today’s meeting, SDCERS’ Board of Administration voted to approve new DROP account and DROP annuity interest rates, which will be effective January 1, 2021. The DROP account rate is the interest rate used by SDCERS while a Member is in DROP and the DROP annuity rate is the interest rate used by SDCERS to annuitize the DROP monies of a Member who has exited DROP and retired. These rates are calculated annually using publicly available indexes as of September 30 of each year.   Effective January 1, 2021, the DROP account interest rate will be 1%, compared to the current rate of 2.5%. This interest rate will be compounded quarterly and applied to all active DROP participants’ accounts as long as the participant is actively employed by the City of San Diego, San Diego Unified Port District, or the San Diego Regional Airport Authority on the last day of each quarter. This rate is subject to change annually, which means a DROP participant’s account may receive a different interest rate every year during their participation period, depending on the Board’s actions.   Also beginning January 1, 2021, the DROP annuity interest rate will be 2.1%, compared to the current rate of 3.1%. This interest rate will be factored into the calculation of a DROP retiree’s monthly DROP annuity, if they DROP retire between January 1 and December 31, 2021 and choose to annuitize their DROP account. Unlike the DROP account interest rate, the DROP annuity rate will not change for an individual member – the rate that is in effect when a member DROP retires is the rate that will be applied to their annuity, regardless of whether or not the DROP annuity rate changes in future years. If you are nearing the end of your five-year DROP participation period, your decision to DROP retire before or after the New Year may be affected by the Board’s decision regarding the DROP annuity interest rate. However, if you do not plan to annuitize your DROP account upon exiting DROP, then the DROP annuity rate changes will not affect you. Click here to review your options regarding how you may choose to receive your DROP account.  Read the full article for an example of how the changing DROP annuity interest rate could affect the calculation of a hypothetical DROP annuity.  Please attend a DROP Exit webinar ASAP if you are trying to decide whether to exit DROP before or after January 1, 2021: November 19th: https://attendee.gotowebinar.com/register/7271115884463850251 December 3rd: https://attendee.gotowebinar.com/register/2308764822188245262 December 10th: https://attendee.gotowebinar.com/register/3561394439248428814  If you are currently in DROP and considering retiring before Dec. 31, you must begin the process immediately as counseling appointments will fill up fast. To begin the process, you must first go to your Member Portal account and click on “DROP Retirement Application” from the left menu, under Tools. Review this information, make your selections, and SUBMIT THE APPLICATION ONLINE. Once received, you will be contacted by an SDCERS staff member to schedule your personal phone counseling appointment. At your appointment, you can ask questions and make any changes you’d like to your application. Your electronic application is not final and you have not retired until you’ve submitted your signed application signature page, which will be emailed to you by your retirement counselor during your appointment. Learn More...

November Remote Board & Committee Meetings

Date: Nov 06, 2020 Categories: Board, News Articles, Press Release

SDCERS will be holding its regularly scheduled November Board and Committee meetings. All meetings will continue to be held remotely for the foreseeable future. This means the Board meeting room will be closed to the public and only SDCERS staff whose presence is necessary to run the meeting will be onsite.   Although the public will be unable to physically attend these meetings, we have made the meetings available for the public to attend remotely. To attend the Disability, Investment, and/or Audit Committee meetings, please click the corresponding link below prior to the start time of the meeting. You will have to download the Zoom application in order to attend.  November 12th, 9:00 a.m. PST Disability Committee meeting Zoom link: https://zoom.us/j/96709801075  November 12th, 12:30 p.m. PST Investment Committee meeting Zoom link: https://zoom.us/j/96759190239  November 18th, 9:00 a.m. PST Audit Committee meeting Zoom link: https://zoom.us/j/96592132396   Once you are in the meeting, you can click the “View Options” bar at the top of the screen and then “Side-by-side mode” in order to see both the presenter’s screen and the webcams of Committee members and panelists.   SDCERS will be live streaming the entirety of the Business & Governance Committee meeting on November 12th at 9:15 a.m., and the Board meeting on November 13th at 8:30 a.m. To access the live stream for either meeting, go to our Board Meeting Agendas page before the meeting starts and click on the “Agenda” link corresponding to the meeting you wish to attend. This will open a new tab with the agenda for that meeting, which includes an embedded video player that will automatically begin the live stream once the meeting starts. Video recordings of the meetings will also be available on this same page the week following the meeting, as well as on our YouTube page.   Please note that members of the public will not be able to speak during these meetings. If you would like to participate in either meeting, please use our Contact Us page to submit public comment in advance of the meeting and identify to which meeting your comment is directed. We will be accepting public comments for each meeting up to an hour before the meeting begins. Any appropriate messages timely received will be read aloud for the record and/or distributed to the Committee members or Board of Administration at the corresponding meeting. Learn More...

SDCERS' 2020 (Virtual) Annual Membership Meeting

Date: Oct 26, 2020 Categories: Events, Pension, Press Release

In keeping with this year's trend, SDCERS’ 2020 Annual Membership Meeting took place virtually as a recorded Zoom meeting. It was not a live event; rather, you can watch the presentations at your leisure via our YouTube channel by clicking here. The theme of the meeting was "Every Challenge Encountered is an Opportunity for Growth," and the presenters did a great job of explaining what major challenges SDCERS has faced, both recently and in the past, and how SDCERS approached and overcame these obstacles. Here is a sneak preview of this year's presentations: Liza Crisafi, Chief Investment Officer, provided a summary of SDCERS' investment performance in fiscal year 2020. Marcelle Voorhies Rossman, Deputy Chief Executive Officer, explained how SDCERS handled the COVID-19 pandemic. Gregg Rademacher, Chief Executive Officer, incorporated some of his favorite sayings while he talked about SDCERS' trials and tribulations, both new and old, and reassured SDCERS’ membership that its pension system will meet any challenge in order to pay benefits accurately and timely, and ensure the trust fund’s safety, integrity, and growth. Cynthia Queen, Member Services Director, gave a brief overview of the Member Portal for both active and retired members, and encouraged all members to register for their own Member Portal account if they haven’t already. We encourage you to take the time to watch the meeting and let us know what you think via our Contact Us page. This is an annual event that is usually held in person, giving us an opportunity to engage with our membership. Unfortunately, we couldn’t meet with you all in person this year, but we hope to see you all at next year's meeting!   Learn More...

SDCERS Receives the 2020 Public Pension Standards Award for Funding and Administration

Date: Oct 22, 2020 Categories: Board, News Articles, Pension, Press Release

For the third year in a row, SDCERS has been awarded the Public Pension Standards Award for Funding and Administration. The Public Pension Coordinating Council grants this award, which recognizes SDCERS for meeting professional standards for plan funding and administration as set forth in the Public Pension Standards.​Recognition Award for Administration SDCERS received the Recognition Award for Administration due to its adherence to the five essential administrative categories: Comprehensive Benefit Program Actuarial Audit Investments Communications  Recognition Award for Funding SDCERS received the Recognition Award for Funding because its three plan sponsors (City of San Diego, Port of San Diego, and San Diego County Regional Airport Authority) consistently pay their Annual Required Contributions as determined by the SDCERS Board.  The Public Pension Coordinating Council (PPCC) is a coalition of three national associations that represent public retirement systems and administrators: National Association of State Retirement Administrators (NASRA), the National Council on Teacher Retirement (NCTR) and the National Conference on Public Employee Retirement Systems (NCPERS). Together, these associations represent more than 500 of the largest pension plans in the United States serving most of the nation’s 16 million employees of state and local government. Learn More...

SDCERS RECEIVES CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING FOR 12TH CONSECUTIVE YEAR

The Government Financial Officers Association (“GFOA”) has awarded SDCERS the Certificate of Achievement for Excellence in Financial Reporting for SDCERS’ 2019 Comprehensive Annual Financial Report (“CAFR”) and Popular Annual Financial Report (“PAFR”). This is the 12th year in a row SDCERS has received this recognition! The GFOA is a non-profit professional association serving approximately 15,000 government finance professionals. SDCERS’ CAFR and PAFR were judged by an impartial panel and deemed to have met the high standards of the certificate program, including demonstrating an effective means to disclose and clearly communicate SDCERS’ financial story and to motivate Members and the public to read the CAFR and PAFR.  This award is the highest form of recognition in the area of government accounting and financial reporting. It represents a significant accomplishment by a governmental agency and its management.   SDCERS’ award-winning CAFRs and PAFRs are available online and can be viewed here.   Learn More...

September Remote Board & Committee Meetings

Date: Sep 04, 2020 Categories: Board, News Articles, Press Release

SDCERS will be holding its regularly scheduled September Board and Committee meetings, except for the Disability Committee meeting, which has been cancelled. All meetings will continue to be held remotely for the foreseeable future. This means the meeting room will be closed to the public and only SDCERS staff whose presence is necessary to run the meeting will be onsite.   Although the public will be unable to physically attend these meetings, we have made the meetings available for the public to attend remotely. To attend the Audit and/or Investment Committee meetings, please click the corresponding link below prior to the start time of the meeting. You will have to download the Zoom application in order to attend.  September 9th, 9:00 a.m. PST Audit Committee meeting Zoom link: https://zoom.us/j/92308362729  September 10th 12:30 p.m. PST Investment Committee meeting Zoom link: https://zoom.us/j/95359576685   Once you are in the meeting, you can click the “View Options” bar at the top of the screen and then “Side-by-side mode” in order to see both the presenter’s screen and the webcams of Committee members and panelists.   SDCERS will be live streaming the entirety of the Business & Governance Committee meeting on September 10th and the Board meeting on September 11th. To access the live stream, go to our Board Meeting Agendas page before the meeting starts and click on the “Agenda” link corresponding to the meeting you wish to attend. This will open a new tab with the agenda for that meeting, which includes an embedded video player that will automatically begin the live stream once the meeting starts. Video recordings of the meetings will also be available on this same page the week following the meeting, as well as on our YouTube page.   Please note that members of the public will not be able to speak during these meetings. If you would like to participate in either meeting, please use our Contact Us page to submit public comment in advance of the meeting and identify to which meeting your comment is directed. We will be accepting public comments for each meeting up to an hour before the meeting begins. Any appropriate messages timely received will be read aloud for the record and/or distributed to the Committee members or Board of Administration at the corresponding meeting.   Learn More...

FY 2020 Annual Member Statements

Date: Aug 11, 2020 Categories: News Articles

Non-retired SDCERS Members will be receiving their Annual Member Statement in the mail over the next several days. This statement contains detailed account information for the fiscal year ending June 30, 2020, which means the information is current as of July 1, 2020. The purpose of this Annual Statement of Benefits is (1) to ensure that your beneficiary designations are updated, and (2) to keep you informed of the details of your SDCERS retirement account.Please review the information on your statement carefully and contact SDCERS if you need to update your information or if you believe there is an error in your statement. A video detailing the contents of your statement is available here. If you have questions about your Annual Statement of Benefits, please contact your Payroll Specialist or call the SDCERS Call Center at 619-525-3600, open Monday-Friday from 9:00 a.m. to noon and 1:00 to 4:00 p.m. (PST). And remember, your most up-to-date account information is always available on the SDCERS Member Portal.   Learn More...

Call Center is Open, But Office Remains Closed

Date: Jul 20, 2020 Categories: News Articles, Press Release, Retirement Resources

SDCERS staff is here to assist you – we just can’t see you in person. The Call Center's "new" hours are from 9:00 a.m. to noon, and 1:00 to 4:00 p.m. You can also submit non-urgent questions or concerns via our Contact Us page, and we will respond within one business day.   We appreciate your patience. The majority of SDCERS staff are still required to telecommute and our offices remain closed to members and the public.   Retirement counseling appointments are being held via phone and document signing takes place via email exchange. If you already have a retirement counseling appointment scheduled, you will be contacted in advance with details. If you have recently submitted your online application, you will be contacted soon to schedule your appointment.   If you are thinking about retiring soon, please review the fact sheets, FAQs, and videos on our website, which will help answer many of your questions in advance. Keep an eye out for retirement educational webinars, which are announced periodically via your work email. You can also estimate your future retirement benefit by using the Benefit Calculator on the Member Portal. If you have not already registered on our secure Member Portal, click on “Register” on the Member Portal page and follow the registration instructions.   Once you have reviewed all of the pertinent information, if you want to schedule a retirement counseling appointment, you must submit an online retirement application through your Member Portal account by clicking “Online Applications” on the left panel. Keep in mind this electronic application is not final – your submission simply prompts us to contact you to schedule a counseling appointment.  CITY RETIREE HEALTH REIMBURSEMENTS: City Retiree Health Reimbursement requests are being processed as usual. For fastest processing, submit your documents via email (attached as a PDF) to health@sdcers.org. Do NOT use health@sandiego.gov, as this email no longer forwards to health@sdcers.org. Please ensure you have submitted complete documents – we continue to receive incomplete submissions, which cannot be processed and result in delayed reimbursements.  Note: If you are using an Apple product to send the email, in Mail, please select "Format" and click on "Make Plain Text" - we've received reports of emails not getting through our firewalls if this extra step isn't taken when using an Apple product. Alternatively, you may fax your documents to (858) 581-5314, or mail them to our office at 401 West A Street, Ste. 400, San Diego, CA 92101.   Learn More...

Call Center is Open, But Office Remains Closed

Date: Jul 13, 2020 Categories: News Articles, Press Release, Retirement Resources

SDCERS staff is here to assist you – we just can’t see you in person. Our Call Center hours will be adjusted this week for training, as we seek the best ways to serve our members during this challenging time.  Tuesday, July 14             10 a.m. to noon, and 2 p.m. to 4 p.m.Wednesday, July 15        10 a.m. to noon, and 2 p.m. to 4 p.m.   Beginning Thursday, July 16th, the Call Center will be open on the regular schedule, from 9:00 a.m. to noon, and 1:00 to 4:00 p.m. You can also submit non-urgent questions or concerns via our Contact Us page, and we will respond within one business day.   We appreciate your patience. The majority of SDCERS staff are still required to telecommute and our offices remain closed to members and the public.   Retirement counseling appointments are being held via phone and document signing takes place via email exchange. If you already have a retirement counseling appointment scheduled, you will be contacted in advance with details. If you have recently submitted your online application, you will be contacted soon to schedule your appointment.   If you are thinking about retiring soon, please review the fact sheets, FAQs, and videos on our website, which will help answer many of your questions in advance. Keep an eye out for retirement educational webinars, which are announced periodically via your work email. You can also estimate your future retirement benefit by using the Benefit Calculator on the Member Portal. If you have not already registered on our secure Member Portal, click on “Register” on the Member Portal page and follow the registration instructions.   Once you have reviewed all of the pertinent information, if you want to schedule a retirement counseling appointment, you must submit an online retirement application through your Member Portal account by clicking “Online Applications” on the left panel. Keep in mind this electronic application is not final – your submission simply prompts us to contact you to schedule a counseling appointment.  CITY RETIREE HEALTH REIMBURSEMENTS: City Retiree Health Reimbursement requests are being processed as usual. For fastest processing, submit your documents via email (attached as a PDF) to health@sdcers.org. Do NOT use health@sandiego.gov, as this email no longer forwards to health@sdcers.org. Please ensure you have submitted complete documents – we continue to receive incomplete submissions, which cannot be processed and result in delayed reimbursements.  Note: If you are using an Apple product to send the email, in Mail, please select "Format" and click on "Make Plain Text" - we've received reports of emails not getting through our firewalls if this extra step isn't taken when using an Apple product. Alternatively, you may fax your documents to (858) 581-5314, or mail them to our office at 401 West A Street, Ste. 400, San Diego, CA 92101. Learn More...

Retiree & Active DROP Participants - Death Benefits and Importance of Keeping Beneficiary Designations Updated

Date: Jul 10, 2020 Categories: Member Portal, News Articles, Pension

When was the last time you thought about your SDCERS beneficiary designations? Over a year ago? Five years? The day you retired or entered DROP? Maybe never? Beneficiary designations may seem like a chore you can put off or do once and forget about, but the truth is you should review your beneficiary designations at least once a year to make sure they reflect your current circumstances. For example, beneficiary designations probably aren’t the first thing on your mind when you get married or divorced, have a child, or lose a loved one, but these are all defining life events that may affect who you want to receive your pension benefits when you die. This article summarizes the death benefits provided to DROP participants and SDCERS retirees, but please review the Death Benefits Fact Sheet and Retirement Benefit Options Fact Sheet for more in-depth information. Review the full article to learn about possible death benefits such as: Continuance Benefit $2,000 Retiree Death Benefit & Other Unpaid Monies DROP Death Benefit Updating your beneficiary designations is quick, easy, and you can do it from home by logging in to your SDCERS Member Portal account and clicking “Beneficiary Update” from the left menu. (If you don’t already have a Member Portal account, you can register here.)   You will be able to name beneficiaries to receive different types of death benefits depending on if you are active, in DROP, or retired. You can designate both a Primary and an Alternate beneficiary for your $2,000 Retiree Death Benefit and DROP Death Benefit. When you die, your Primary is first in line to collect the death benefit, while your Alternate receives the benefit only if the Primary is already deceased. For some death benefits, you can name multiple beneficiaries and designate a specific percentage of the benefit to each person. If you choose to do this, make sure your percentages add up to 100%. Lastly, you may also designate a trust to receive any death benefit that is not a continuance or an annuity. Learn More...

Upcoming Remote Board & Committee Meetings

Date: Jul 01, 2020 Categories: Board, News Articles, Press Release

SDCERS will be holding its regularly scheduled July Board and Committee meetings; however, all meetings will continue to be held remotely for the foreseeable future. This means the meeting room will be closed to the public and only SDCERS staff whose presence is necessary to run the meeting will be onsite.   Although the public will be unable to physically attend these meetings, we have made the meetings available for the public to attend remotely. To attend the Audit, Disability, and/or Investment Committee meetings, please click the corresponding link below prior to the start time of the meeting. You will have to download the Zoom application in order to attend.  July 8th, 9:00 a.m. PST Audit Committee meeting Zoom link: https://zoom.us/j/94776103948  July 9th, 9:00 a.m. PST Disability Committee meeting Zoom link: https://zoom.us/j/97235033506  July 9th 12:30 p.m. PST Investment Committee meeting Zoom link: https://zoom.us/j/91784976674   Once you are in the meeting, you can click the “View Options” bar at the top of the screen and then “Side-by-side mode” in order to see both the presenter’s screen and the webcams of Committee members and panelists.   SDCERS will be live streaming the entirety of the Business & Governance Committee meeting on July 9th at 9:15 a.m. PST and the Board meeting on July 10th at 8:30 a.m. PST. To access the live stream, go to our Board Meeting Agendas page before the meeting starts and click on the “Agenda” link corresponding to the meeting you wish to attend. This will open a new tab with the agenda for that meeting, which includes an embedded video player that will automatically begin the live stream once the meeting starts. Video recordings of the meetings will also be available on this same page the week following the meeting, as well as on our YouTube page.   Please note that members of the public will not be able to speak during these meetings. If you would like to participate in either meeting, please use our Contact Us page to submit public comment in advance of the meeting and identify to which meeting your comment is directed. We will be accepting public comments for each meeting up to an hour before the meeting begins. Any appropriate messages timely received will be read aloud for the record and/or distributed to the Committee members or Board of Administration at the corresponding meeting. Learn More...

SDCERS' Call Center is Now Open, But Office Remains Closed

Date: Jun 01, 2020 Categories: News Articles, Press Release

Our Call Center is now open Monday through Friday, from 9:00 a.m. to noon, and 1:00 to 4:00 p.m. However, the Call Center is not currently staffed at full capacity, which is why it is only operating during limited hours. Therefore, please be patient as call waiting times may be longer than usual. To help decrease call volume, please submit non-urgent questions or concerns via our Contact Us page, which we continue to monitor and generally respond to within one business day.   The majority of SDCERS staff are still required to telecommute, and our offices remain closed to members and the public. We will continue to conduct retirement counseling appointments via phone, which we have been doing since the statewide shelter-in-place order began in late March. The phone counseling sessions have been well-received, and document signing takes place via email exchange. If you already have a retirement counseling appointment scheduled, you will be contacted in advance with details. If you have recently submitted your online application, you will be contacted soon to schedule your appointment.   If you are thinking about retiring soon, please review the fact sheets, FAQs, and videos on our website, which will help answer many of your questions in advance. Keep an eye out for retirement educational webinars, which are announced periodically via your work email. You can also estimate your future retirement benefit by using the Benefit Calculator on the Member Portal. If you have not already registered on our secure Member Portal, click on “Register” on the Member Portal page and follow the registration instructions.   Once you have reviewed all of the pertinent information, if you want to schedule a retirement counseling appointment, you must submit an online retirement application through your Member Portal account by clicking “Online Applications” on the left panel. Keep in mind this electronic application is not final – your submission simply prompts us to contact you to schedule a counseling appointment.  CITY RETIREE HEALTH REIMBURSEMENTS: City Retiree Health Reimbursement requests are being processed as usual. For fastest processing, submit your documents via email (attached as a PDF) to health@sdcers.org. Do NOT use health@sandiego.gov, as this email no longer forwards to health@sdcers.org. Please ensure you have submitted complete documents – we continue to receive incomplete submissions, which cannot be processed and result in delayed reimbursements.  Note: if you are using an Apple product to send the email, in Mail, please select "Format" and click on "Make Plain Text" - we've received reports of emails not getting through our firewalls if this extra step isn't taken when using an Apple product. Alternatively, you may fax your documents to (858) 581-5314, or mail them to our office at 401 West A Street, Ste. 400, San Diego, CA 92101.   Learn More...

City Retiree Health Open Enrollment ENDS TUESDAY, JUNE 30TH

Date: May 29, 2020 Categories: Events, Health, Open Enrollment

Health open enrollment for City of San Diego retirees began on June 1st and will end on June 30th. The fiscal year 2021 City retiree health booklets were mailed out to all eligible City retirees and  beneficiaries on May 29th and an electronic version of the booklet is available here. You can also download and complete enrollment forms by visiting the City Retiree Health page. After you’ve completed an enrollment (or disenrollment) form, you must send it to SDCERS by June 30th – we prefer you scan your forms and email to health@sdcers.org, but you may also fax them to (858) 581-5314 or mail them to our offices at:   SDCERS – Health Division 401 West A Street, Suite 400 San Diego, CA 92101   As always, if you do not wish to make any changes to your current healthcare coverage, you do not need to take any action during open enrollment and your coverage will remain the same. The only exception to this is for those of you currently covered by United Concordia for dental insurance – effective August 1st, you will automatically be enrolled in the new Delta Dental plan, which is replacing United Concordia. If you do not want to enroll in the Delta Dental plan, you must provide SDCERS with a disenrollment form.   There is only one new plan this year – SDPEBA (San Diego Public Employee Benefit Association) is offering a new non-Medicare plan through Sharp. You can find details about this new plan, as well as all existing plans, in the City retiree health booklet referenced above. If you are comparing plans and trying to decide which is best for you, don’t forget about CareCounsel! CareCounsel Member Care Specialists are available for your healthcare inquiries and concerns. You can call them at (888) 227-3334 or e-mail staff@carecounsel.com Monday – Friday, 6:30 a.m. to 5:00 p.m. PST. CareCounsel also provides helpful videos on their website that may answer your questions about Medicare, here: https://carecounsel.com/medicare.html.   Due to the COVID-19 outbreak, this year’s open enrollment will be a little different than usual. Unlike years past, SDCERS will not be holding in-person open enrollment events this year, such as the annual Open Enrollment Kickoff or Help Day. Instead, the plan providers have recorded the presentations they would have given at SDCERS’ live open enrollment events, which you can access here.   SDCERS’ Call Center will be open for Open Enrollment, Monday through Friday, from 9 a.m. to noon, and 1 p.m. to 4 p.m., at (619) 525-3600 and (800) 774-4977. Please be patient with our hard-working staff; we are still working with limited resources and call wait times may be longer than usual.   Learn More...

Cost of Living Adjustment ("COLA") for Fiscal Year 2021

Date: May 20, 2020 Categories: COLA, News Articles, Press Release

At its May 8, 2020 meeting, SDCERS’ Board of Administration approved the Cost of Living Adjustment (“COLA”) that will be applied to eligible SDCERS retirees’ monthly benefit amount from July 1, 2020 – June 30, 2021. You will receive a COLA for Fiscal Year 2021 if your retirement or DROP entry date is on or before June 30, 2020. As usual, two separate COLAs were approved and differ depending on the member’s retirement date, as follows:  Members whose retirement date is before July 1, 2020 will receive a COLA increase of 2.0%, and 0.3% will be added to their COLA banks (see below for more details).  The two members who are in the 1981 retirement plan will receive a COLA increase of 1.0%.   Per San Diego Municipal Code section 24.1505 and section 1301 of the Port and Airport Plans, the COLA is calculated every year based on the change in the cost of living between the two previous January firsts, as published by the Bureau of Labor Statistics Consumer Price Index, United States – All items. This year, the change in cost of living between January 1, 2019 and January 1, 2020 was 2.3%.   However, the maximum allowable increase in any given year is 2.0%. In years where the COLA is greater than the maximum 2.0% (such as this year), the excess will be added to what is called a “COLA bank.” A retiree’s COLA bank accumulates based on their fiscal year of retirement (or DROP entry), and each annual retiree group has its own COLA bank.   If you are eligible to receive a Fiscal Year 2021 COLA, the applicable increase will be reflected in your July 2020 pension check.   Learn More...

Special Board & Investment Committee Meetings

Date: May 15, 2020 Categories: Board, Investments, News Articles, Press Release

SDCERS’ Investment Committee will be holding a special meeting on Monday, May 18th beginning at 9:00 a.m. PST. SDCERS’ Board of Administration will also be holding a special meeting on Wednesday, May 20th at 8:30 a.m. PST. These meetings will be held remotely and Investment Committee and Board members will attend their respective meetings telephonically. The meeting room will be closed to the public and only SDCERS staff whose presence is necessary to run the meeting will be onsite.   Although the public will be unable to physically attend these meetings, we have made these meetings available for the public to attend remotely. To attend the Investment Committee meeting, please click the following link at or around 9:00 a.m. PST on May 18th. You will have to download the Zoom application in order to attend.  May 18th Investment Committee meeting Zoom webinar link: https://zoom.us/j/94224022615   Once you are in the meeting, you can click the “View Options” bar at the top of the screen and then “Side-by-side mode” in order to see both the presenter’s screen and the webcams of Committee members and panelists.   SDCERS will also be live streaming the entirety of the Board meeting on May 20th. To access the live stream, go to our Board Meeting Agendas page before the meeting starts and click on the “Agenda” link corresponding to the 5/20/2020 Board of Administration meeting. This will open a new tab with the agenda for the May 20th meeting, which includes an embedded video player that will automatically begin the live stream once the meeting starts. A video recording of the meeting will also be available on this same page the week following the meeting, as well as on our YouTube page.   Please note that members of the public will not be able to speak during these meetings. If you would like to participate in either meeting, please use our Contact Us page to submit public comment in advance of the meeting and identify to which meeting your comment is directed. We will be accepting public comments for the Investment Committee meeting up until 8:30 a.m. on May 18th, and for the special Board meeting up until 8:00 a.m. on May 20th. Any appropriate messages timely received will be read aloud for the record and/or distributed to the Investment Committee members or Board of Administration at the corresponding meeting.   Learn More...

SDCERS’ MAY BOARD MEETING WILL BE HELD REMOTELY – ADVANCE PUBLIC COMMENT ACCEPTED IN WRITING

Date: May 01, 2020 Categories: Board, News Articles

SDCERS’ Disability, Business & Governance, and Investment Committee meetings previously scheduled for May 7th have been canceled. However, SDCERS’ Board of Administration will be holding its regularly scheduled meeting on May 8th at 8:30 a.m. PST. This Board meeting will be held remotely due to the ban on gatherings, which means Board members will attend telephonically and the meeting room will be closed to the public. Only SDCERS staff whose presence is necessary to run the meeting will be onsite.   Although the public will be unable to physically attend this meeting, SDCERS will be live streaming the entirety of the meeting so that you may attend remotely. To access the live stream, go to our Board Meeting Agendas page before the meeting starts and click on the “Agenda” link corresponding to the 5/8/2020 Board of Administration meeting. This will open a new tab with the agenda for the May 8th meeting, which includes an embedded video player that will automatically begin the live stream once the meeting starts. A video recording of the meeting will also be available on this same page the week following the meeting, as well as on our YouTube page.   If you would like to participate in this meeting, please use our Contact Us page to submit public comment in advance of the meeting. We will be accepting public comments up until the meeting starts on May 8th at 8:30 a.m. PST. Any appropriate messages timely received will be read aloud for the record and/or distributed to the Board of Administration at the meeting. Learn More...

SDCERS is Virtually Open - Here's How to Reach Us

Date: Apr 16, 2020 Categories: News Articles, Press Release

Due to the COVID-19 crisis, most SDCERS staff members are telecommuting, and we are unable to answer phone calls via our Call Center. We have adapted and created a new process, so rest assured that we will take care of you. Please submit questions and death notifications via our Contact Us page.  RETIRED MEMBERS: We want to reassure you that pension benefits will continue to be paid on time – your benefit to be deposited into your account on the last business day of each month.  CITY RETIREE HEALTH REIMBURSEMENTS: City Retiree Health Reimbursement requests are being processed as usual. For fastest processing, submit your documents via email (attached as a PDF) to health@sdcers.org. Do NOT use health@sandiego.gov, as this email no longer forwards to health@sdcers.org.  Note: if you are using an Apple product to send the email, in Mail, please select "Format" and click on "Make Plain Text" - we've received reports of emails not getting through our firewalls if this extra step isn't taken when using an Apple product. Alternatively, you may fax your documents to (858) 581-5314, or mail them to our office at 401 West A Street, Ste. 400, San Diego, CA 92101.  As a reminder to all, our physical office downtown is currently closed to our members, so you may not drop off any paperwork in person or meet with SDCERS staff. NON-RETIRED MEMBERS: If you already have a retirement counseling appointment scheduled, please assume it will be held via phone on the scheduled date and time. You will be contacted in advance with details. If you have recently submitted your online application, you will be contacted soon to schedule your appointment.   If you are thinking about retiring soon, please review the fact sheets, FAQs, and videos on our website, which will help answer many of your questions in advance. You can also estimate your future retirement benefit by using the Benefit Calculator on the Member Portal. If you have not already registered on our secure Member Portal, click on “Register” on the Member Portal page and follow the registration instructions.   Once you have reviewed all of the pertinent information, if you want to schedule a retirement counseling appointment, you must submit an online retirement application through your Member Portal account by clicking “Online Applications” on the left panel. Keep in mind this electronic application is not final – your submission simply prompts us to contact you to schedule a counseling appointment. Learn More...

"I want to retire/enter DROP now please!"

Date: Mar 26, 2020 Categories: News Articles, Press Release, Retirement Resources

If this is you, we are glad that you’re ready to retire or enter DROP. However, there are a few things we want you to know right now: Before the coronavirus outbreak, our retirement counselors were booked two months in advance and our Call Center received more than 100 requests each day. Retirement appointments are now conducted via phone, and documentation is shared via email. Most of our staff is telecommuting and SDCERS' downtown office is closed to members and the public.   If you want to retire now, you must submit your application online via the secure Member Portal. If you need assistance with your Member Portal account, send a message through our Contact Us page. This electronic application is not final – you will be able to make changes during your phone appointment before you sign and submit.   If you want to enter DROP immediately and already had an appointment scheduled, you will be contacted. If you are just thinking about entering DROP or retiring soon and have questions, please utilize the resources on our website. We have several fact sheets as well as FAQs that will answer all of your general questions. City employees may register to attend one of our upcoming webinars. We hold at least three webinars or seminars per month. The April and May webinars are currently full, but we will be announcing additional webinars in the coming weeks.    For specific questions about your retirement account, please send us a message through our Contact Us page SDCERS cannot provide personalized benefit estimates on request – please use the Benefit Estimate Calculator tool in your Member Portal account for this.   Learn More...

MESSAGE TO OUR MEMBERS DURING CORONAVIRUS OUTBREAK

Date: Mar 24, 2020 Categories: News Articles, Press Release

RETIRED MEMBERS: We want to reassure you that pension benefits will continue to be paid on time – you can expect your benefit to be deposited into your account on the last business day of each month. We are still processing health reimbursement requests as usual. However, due to most employees telecommuting at present, your request will likely be processed faster if you can send in the paperwork via email (attached as a PDF) to health@sdcers.org. Note: if you are using an Apple product to send the email, in Mail, please select "Format" and click on "Make Plain Text" - we've received reports of emails not getting through our firewalls if this extra step isn't taken when using an Apple product. Alternatively, you may fax your documents to (858) 581-5314, or mail them to our office at 401 West A Street, Ste. 400, San Diego, CA 92101.NON-RETIRED MEMBERS: Please be advised SDCERS is currently experiencing a flood of requests for retirement counseling appointments. On top of this, we are having to reschedule many current appointments and prioritize those that are most urgent. If you are thinking about retiring soon, please review the fact sheets and FAQs on our website, which may help answer many of your questions in advance. You can also utilize our Benefit Estimate Calculator by logging in to your Member Portal account. Once you have reviewed all of the pertinent information, if you want to schedule a retirement counseling appointment, you must submit an online retirement application through your Member Portal account by clicking “Online Applications” on the left panel. Keep in mind this electronic application is not final – your submission simply prompts us to contact you to schedule a counseling appointment. Those who have a counseling appointment already scheduled, as well as those who have recently requested an appointment, will be contacted by SDCERS staff sometime in the coming weeks. Please bear with us as we are understaffed and overwhelmed with requests for appointments. We appreciate your patience and understanding during this uncertain and confusing time.  As a reminder to all, our offices are currently closed, so you may not drop off any paperwork in person or meet with SDCERS staff. Additionally, our Call Center is closed, which means no one is available to answer our main line. Instead, please submit all inquiries through our Contact Us page and someone will reach out to you as soon as possible. Learn More...

UPDATE: SDCERS Is Temporarily Closed, March Pension Benefits WILL Be Paid On Time

Date: Mar 20, 2020 Categories: News Articles, Press Release

ATTENTION (updated as of 3/20/2020): Amid the COVID-19 outbreak, SDCERS continues to remain operational. However, effective today due to the statewide shelter in place order, our offices are closed until further notice. This means that all retirement counseling appointments scheduled over the next week will be rescheduled. Please note that March pension benefits will be paid on time.   You must send any paperwork (such as health reimbursement requests, for example) via email or U.S. mail. For the foreseeable future, you will not be able to drop off any paperwork at the office. Health-related paperwork can be emailed to health@sdcers.org or faxed to 858-581-5314. All documents can be mailed to our offices at 401 West A Street, Suite 400, San Diego, CA 92101. Please note that any paperwork that is faxed or sent via U.S. mail will not be processed until SDCERS' offices reopen.    The March 23rd DROP Entry Seminar is still expected to be held as an online webinar that can be attended remotely by anyone who has a computer and internet access. Those who are registered for this seminar should have received an email with further details and instructions for attending this online webinar. If you did not receive this email and believe that you should have, please email Communications Manager Jessica Maloney at maloneyj@sdcers.org.   To reiterate, there are no SDCERS staff members working at the office until further notice. This means no one is available to answer the main phone lines. Instead of calling, please use the Contact Us page on our website to submit inquiries electronically.   Please continue to take all precautions to stay healthy and remain at home whenever possible. Learn More...

SDCERS' 2nd Updated Response to Coronavirus (COVID-19) Outbreak

Date: Mar 19, 2020 Categories: News Articles, Press Release

ATTENTION (updated as of 3/19/2020): Amid the COVID-19 outbreak, SDCERS continues to remain operational. However, effective today, our offices are closed to non-SDCERS staff members. This means that all retirement counseling appointments will either take place over the phone or be postponed until a later date. Those who have upcoming appointments will be contacted by an SDCERS staff member to discuss how you’d like to proceed.   You must send any paperwork (such as health reimbursement requests, for example) via email or U.S. mail. For the foreseeable future, you will not be able to drop off any paperwork at the office. Health-related paperwork can be emailed to health@sdcers.org or faxed to 858-581-5314. All documents can be mailed to our offices at 401 West A Street, Suite 400, San Diego, CA 92101.   Also, for the remainder of March, all scheduled seminars will be held as online webinars that can be accessed remotely. Those who are registered for the March 23rd DROP Entry Seminar should have received an email with further details and instructions for attending this online webinar. If you did not receive this email and believe that you should have, please email Communications Manager Jessica Maloney at maloneyj@sdcers.org.   As always, if you have a retirement-related emergency, please contact our Call Center at (619) 525-3600. Please be advised our Call Center is extremely understaffed for the time being and call waiting times may be longer than usual. For any non-emergencies, please use the Contact Us page on our website to submit inquiries electronically.   Please continue to take all precautions to stay healthy. Learn More...

SDCERS' Updated Response to Coronavirus (COVID-19) Outbreak

Date: Mar 17, 2020 Categories: News Articles, Press Release

ATTENTION (updated as of 3/17/2020): Amid the COVID-19 outbreak, SDCERS continues to remain operational. However, we will be discontinuing in-office visits. This means that all retirement counseling appointments will either take place over the phone or be postponed until a later date. Those who have upcoming appointments will be contacted by an SDCERS staff member to discuss how you’d like to proceed.   We also ask that you send any paperwork (such as health reimbursement requests, for example) via email. If you do not have access to email, you may mail in your documents or, if absolutely necessary, you can drop the paperwork off at the office. However, no staff members will be available to meet with any visitors to the office in person. Health-related paperwork can be emailed to health@sdcers.org - please attach any documents as PDF's only, as our firewalls will block any emails with non-PDF attachments. If you have other documents to send in, please inquire via the Contact Us page on our website and someone will contact you about where to send your paperwork.     Also, for the remainder of March, all scheduled seminars will be held as online webinars that can be accessed remotely. Those who are registered for the March 23rd DROP Entry Seminar will be receiving an email with further details and instructions for attending this online webinar.   As always, if you have a retirement-related emergency, please contact our Call Center at (619) 525-3600. Please be advised our Call Center is extremely understaffed for the time being and call times may be longer than usual. For any non-emergencies, please use the Contact Us page on our website to submit inquiries electronically.   Please continue to take all precautions to stay healthy. Learn More...

SDCERS' Response to Coronavirus (COVID-19) Outbreak

Date: Mar 16, 2020 Categories: Events, News Articles, Press Release

ATTENTION: Amid the COVID-19 outbreak, SDCERS continues to remain open for business. This means that if you have an appointment with one of our retirement counselors, you are under the age of 65, and you are healthy, please come in on your scheduled date and time unless you have been contacted by an SDCERS representative and told otherwise. However, if you are coughing, sneezing, achy, feverish, or having difficulty breathing, please postpone your visit to SDCERS until you are healthy again. If you have a retirement-related emergency or if you’d like to reschedule your appointment, please contact our Call Center at (619) 525-3600. You may also reach us through our website's contact us submission form, here. We have a number of staff members out of the office for the foreseeable future, so if you have a non-emergency, please use our online contact us form rather than calling the Call Center in order to keep our call waiting times down at a reasonable level.   Also, for the remainder of March, all scheduled seminars will be turned into webinars that can be accessed remotely as long as you have computer and internet access. Those who are registered for the March 17th and March 23rd seminars will be receiving an email with further details and instructions for attending these webinars.   We at SDCERS consider the health and safety of our staff and members a top priority. We understand the concern and uncertainty you may be experiencing surrounding the coronavirus and are committed to being responsive as the situation evolves. In addition to following the guidelines set by the state, county, and city, SDCERS has taken the following steps towards keeping our offices a safe place for staff and members to visit: We have encouraged anyone on our staff who is feeling ill to stay home; We are encouraging members to reschedule their appointments it they are feeling ill; Our building always follows all OSHA guidelines for sterilization and cleanliness; We have taken extra steps to educate our staff on the importance of hand washing and breaking habits like touching our face, nose, and eyes; and We are wiping down keyboards, counters, and office areas frequently throughout the day. Please take all precautions to stay healthy! Learn More...

What Can You Do With Your DROP Account?

Date: Feb 07, 2020 Categories: DROP, News Articles

If you are eligible to participate in the Deferred Retirement Option Plan (“DROP”), you have the chance to build up a sizeable nest egg during your participation period. (See the DROP Fact Sheet for more information.) When you’re ready to exit DROP and fully retire, you’ll have to decide what you want to do with that nest egg. Here are your options: Receive the funds as a lump sum payment Rollover the funds to a qualified plan Annuitize the funds (over 20 years or life expectancy) Combination Please read the full article for an explanation of each option. However you decide to receive your DROP account, just make sure it’s the right choice for your financial circumstances. It doesn’t matter what anyone else does – just do what makes sense for you and your future!   Learn More...

Member Portal & Systems Restored!

Date: Feb 06, 2020 Categories: Member Portal, News Articles, Press Release

UPDATE: The Member Portal and IRIS are both back up and running as of approximately 3:00 p.m. today! You should now be able to log in to your Member Portal account. Please call SDCERS at (619) 525-3600 if you experience further difficulty or if you have any other questions regarding your SDCERS account. Thank you for your patience while we experienced technical difficulties.  ​ATTENTION: The SDCERS Member Portal is currently unavailable due to unexpected network connectivity issues. This means you will be unable to access your Member Portal account until these issues are resolved. SDCERS staff is working around the clock with our external IT vendor to fix the problem as quickly as possible. We will update this article as soon as the Member Portal is back online.   Additionally, our internal information system, IRIS, which we use to store and access member data and accounts, is also down due to the same connectivity issues. Therefore, you are welcome to contact our Call Center at (619) 525-3600, but staff will not be able to access your specific account information and will be unable to immediately answer most questions until IRIS is back up and running. In the meantime, we are happy to take a message and a staff member will contact you as soon as our systems are restored.   We sincerely apologize for this inconvenience – we know many of our members rely on access to their Member Portal account and have time-sensitive issues that need to be addressed quickly and efficiently. Please know that customer service is one of SDCERS’ core values and we are doing everything we can to restore the Member Portal and our internal systems as expeditiously as possible. We will update this article periodically as we find out more information. Learn More...

SDCERS Becomes a Data Privacy Day Champion

Date: Jan 28, 2020 Categories: News Articles, Press Release

January 28th is "Data Privacy Day," the annual international effort by hundreds of organizations and individuals who collaborate to generate awareness about the importance of respecting privacy, safeguarding data, and enabling trust. SDCERS has announced its commitment to Data Privacy Day by signing up as a Data Privacy Day 2020 Champion.  As a Champion, SDCERS recognizes and supports the principle that all organizations share the responsibility of being conscientious stewards of personal information.   Data Privacy Day is part of a greater campaign that promotes awareness of the importance of privacy, highlights easy ways to protect personal information, and reminds organizations that privacy is good for business. This year, we are encouraging everyone to “Own Your Privacy” by learning more about how to help protect the valuable data that is online. One simple thing you can do is to update your privacy settings on your electronic devices. SDCERS is dedicated to safeguarding your personal information.  We also understand the importance of being transparent and are committed to letting you know how we use, collect, and store personal information.  Learn more about SDCERS’ Privacy Policy at https://www.sdcers.org/About-SDCERS/Privacy-Policy.aspx. Read the full article to learn more about Data Privacy Day and SDCERS' efforts to protect your privacy.   Learn More...

2019 1099-R Tax Forms

Date: Jan 22, 2020 Categories: 1099R, Member Portal, News Articles

IRS Form 1099-R’s were mailed on January 13th from our vendor based in Chicago. This means all SDCERS retirees and beneficiaries who received a payment from SDCERS in 2019 should be receiving their 2019 1099-R forms via U.S. mail over the next couple of weeks. To access your 1099-R form sooner, please log in to your Member Portal account, click on “1099R and W2” on the left, and select “2019 1099R” to download an electronic copy. You can also update your tax withholding preferences on your Member Portal by clicking on “Tax Withholding.” This guide explains how to update your tax withholding preferences.   For a detailed explanation of the pertinent information in your 1099-R, as well as answers to frequently asked questions regarding this tax form, please review our 1099-R Fact Sheet. If you have additional questions, please contact the Call Center at (619) 525-3600 or submit your questions electronically via our Contact Us web form. Learn More...

Welcome Lana Radchenko to SDCERS' Audit Committee!

Date: Jan 13, 2020 Categories: Board, News Articles, Press Release

At its January 10, 2020 meeting, SDCERS’ Board of Administration unanimously appointed Lana Radchenko as the newest Independent Non-Board Member of SDCERS’ Audit Committee.Lana Radchenko, Independent Non-Board Member of SDCERS’ Audit Committee. Ms. Radchenko is President of Rad On Point Consulting LLC, which focuses on helping businesses make better decisions by mitigating risks with improved controls, processes, and systems. Ms. Radchenko previously worked for Sempra Energy from 2004 to 2019 in several management positions, including corporate compliance, audit services, information technology, supply management, business controls, and accounting research. Prior to that, she spent 19 years in public practice with Deloitte & Touche and Resources Global Professionals. Ms. Radchenko holds designations as a Chartered Professional Accountant, a Certified Internal Auditor, and a Certified Compliance & Ethics Professional.   SDCERS is extremely lucky to add Ms. Radchenko to our Audit Committee and we know we will benefit greatly from her expertise. Please join us in welcoming our newest member of the Audit Committee! Learn More...

Active Member Death Benefits and the Importance of Keeping Your Beneficiary Designations Updated

Date: Dec 11, 2019 Categories: News Articles, Pension

When was the last time you thought about your SDCERS beneficiary designations? Over a year ago? Five years? The day you enrolled in SDCERS? Maybe never? Beneficiary designations may seem like a chore you can put off or do once and forget about, but the truth is you should review your beneficiary designations at least once a year to make sure they reflect your current circumstances. For example, beneficiary designations probably aren’t the first thing on your mind when you get married or divorced, have a child, or lose a loved one, but these are all defining life events that may affect who you want to receive your pension benefits when you die. Active Members (meaning those who are actively employed by the City, Port,* or Airport and contributing to SDCERS, but are not in DROP) are eligible to leave one of three types of death benefits if they die before retiring or entering DROP, and the eligibility requirements are very specific for two of the three types. Importantly, if you die without having designated your surviving spouse as your sole pre-retirement death benefit beneficiary, then your surviving spouse will not be eligible to receive the lifetime Death While Eligible or Industrial Death Benefit, even if all other eligibility requirements are satisfied. This article contains a summary of the death benefits provided to Active Members, but please review the Death Benefits Fact Sheet for more in-depth information. *General Port employees hired or rehired on or after January 1, 2009 must complete five consecutive years of Port employment after each hire or rehire date before they become Members of SDCERS and are eligible to leave a death benefit. Learn More...

DROP Interest Rates for 2020

Date: Nov 08, 2019 Categories: DROP, News Articles, Press Release

On November 8, SDCERS’ Board of Administration voted to approve new DROP account and DROP annuity interest rates, which will be effective January 1, 2020. The rates are calculated annually using publicly available indexes as of September 30 of each year.   Therefore, effective January 1, 2020, the DROP account interest rate (compounded quarterly) will be reduced to 2.5%, compared to the current rate of 2.7%. This interest rate will be applied to active DROP participants’ accounts. This rate is subject to change annually, which means a DROP participant’s account may receive a different interest rate every year during their participation period, depending on the Board’s actions.   Also beginning January 1, 2020, the DROP annuity interest rate will be increased to 3.1%, compared to the current rate of 3.0%. This interest rate will be applied to the funds remaining in a DROP retiree’s account if the retiree chooses to annuitize their DROP account, and it will be factored into the calculation of their monthly annuity. Unlike the DROP account interest rate, the DROP annuity rate will not change for an individual member – the rate that is in effect when a member exits DROP is the rate that will be applied to their annuity, regardless of whether or not the DROP annuity rate changes in future years. Therefore, if you are close to the end of your five-year DROP participation period, your decision to exit DROP before or after the New Year may be affected by the Board’s decision to increase or decrease the DROP annuity interest rate. Learn More...

SDCERS Board Approves Annual Supplemental Benefit and Corbett Settlement Increase for 2019

At its November 8, 2019 meeting, SDCERS’ Board of Administration approved payment of the Annual Supplemental Benefit, also known as the “13th Check,” and the Corbett Settlement Increase (“Corbett benefit”) for eligible retirees and continuance beneficiaries. The Supplemental Benefit is paid in years when the fund’s investment earnings are sufficient to qualify, according to a set formula defined in the plan documents, and the Corbett benefit is paid in years that the Supplemental Benefit is paid. If you are eligible for one or both of these benefits, payment will be included in your November 2019 monthly pension benefit.   The eligibility requirements for the Supplemental Benefit and Corbett settlement benefits are described in our FAQs under “Annual Supplemental Benefit ("13th Check"), Corbett, COLA, COL Annuity.” Here, you will also find a description of how these benefits are calculated.Click "Read More" to view the full article. Learn More...

SDCERS' IT Department Receives 2019 MISAC Quality IT Practices Award

Date: Nov 05, 2019 Categories: News Articles, Press Release

SDCERS is proud to announce it has received the Municipal Information System Association of California (MISAC) Quality Information Technology Practices Award for the second year in a row. MISAC is a collaborative organization of California local government IT professionals with the goal of promoting leadership, information sharing, and access to resources to enhance local government services and effectiveness. Membership includes cities, towns, public safety, special districts, and other local governmental agencies/districts.    Receiving MISAC Quality IT Practices Award is an honor and tribute to the dedication and performance of SDCERS’ IT staff and contractors.Click here to read the full article and learn more about this award.   Learn More...

SDCERS Receives the 2019 Public Pension Standards Award for Funding and Administration

Date: Oct 21, 2019 Categories: News Articles, Press Release

For the second year in a row, SDCERS has been awarded the Public Pension Standards Award for Funding and Administration. The Public Pension Coordinating Council grants this award, which recognizes SDCERS for meeting professional standards for plan funding and administration as set forth in the Public Pension Standards.​Click "Read More" for more information about this award. Learn More...

SDCERS' 2019 Annual Membership Meeting

Date: Oct 18, 2019 Categories: Events, News Articles

This year's Annual Membership Meeting took place on October 18th. If you missed it, you can download a copy of the presentation here. The theme of the meeting was "Keeping Our Promises, So You Can Keep Yours," and the presenters did a great job of explaining what SDCERS' promises to its members are and how we plan to keep them. Here is a short synopsis of this year's presentations: Liza Crisafi, Chief Investment Officer; Anders Norrman, Senior Investment Officer; and Jamie Hamrick, Senior Investment Officer, provided a summary of SDCERS' investment performance in fiscal year 2019. Marcelle Voorhies Rossman, Deputy Chief Executive Officer, explained how SDCERS protects its members' privacy and also how SDCERS funds the City, Port, and Airport's pension benefits. Gregg Rademacher, Chief Executive Officer, talked about SDCERS' core values and how these values are incorporated into SDCERS' "Retirement Promise." Cynthia Queen, Member Services Director, gave a brief overview of the Member Portal and why all of our members should have a Member Portal account. We'd like to thank the attendees at this year's meeting for being a wonderful, engaging audience. The meeting was video recorded and the video will be added to our YouTube channel as soon as it is available. We hope to see you all at next year's meeting!   Learn More...

SDCERS' Annual Membership Meeting - You're Invited!

Date: Oct 16, 2019 Categories: Events, News Articles

All Members are invited to attend SDCERS' Annual Membership Meeting, this Friday, October 18th, from 11:00 - noon at Balboa Park Club Ballroom. Presenters include Liza Crisafi, SDCERS' Chief Investment Officer, and other members of the Investments Team; Marcelle Voorhies Rossman, Deputy CEO; Gregg Rademacher, CEO; and Cynthia Queen, Member Services Director. We hope to see you there! (If you can't make it this year, don't worry - the meeting will be video recorded and posted to our Youtube channel next week.)   Learn More...

Meet Your SDCERS Call Center Representatives!

Date: Sep 27, 2019 Categories: News Articles

If you’ve ever called SDCERS, odds are you’ve spoken to one of our Call Center representatives. These are the people who spend all day, every day answering Members’ questions and trying to fix their problems. As anyone in customer service will likely tell you, it can sometimes be a thankless job. However, our Call Center representatives are lucky to have kind and patient Members, and our Members are equally lucky to have such passionate and caring people on the other end of the phone. At some point, almost all of our Members will talk to someone in the Call Center, so we thought you might like to know a little more about the ladies you’ll be talking to and maybe even put a face to the name of your representative. Click "Read More" below to view the full article and see individual bios for each of our Call Center staff members!From Left to Right: Sarema Valenzuela, Catherine Ayala, Andrea Valdes, Selene Rodriguez, and Victoria Fedalizo. Learn More...

SDCERS' Final Investment Return for Fiscal Year 2019

Date: Sep 20, 2019 Categories: Investments, News Articles, Press Release

At the September Board meeting, SDCERS’ Investments Team reported a final return of 7% (net of fees) for Fiscal Year 2019. As of June 30, 2019, the trust fund’s assets totaled $8.4 billion, reflecting a net increase of $370 million over the past year. SDCERS’ average rate of return over the past 20 years is 7.3%, and since its inception is 8.9%.   There are a few ways to measure an investment portfolio’s performance – after all, 7% is great if the market averaged only a 3% return for example, but 7% isn’t so good if the market averaged 10-15%. One way we measure our performance is by comparing our actual rate of return to the actuarial rate of return, which is the expected earnings rate determined by SDCERS’ actuary and used to calculate things like contribution rates. We are happy to report that our 7% return beat our actuarial rate of return of 6.5%, which indicates SDCERS is maintaining its long-term investment strategy to ensure the continued payment of promised pension benefits to its members.   Another way to measure performance is by comparing our returns to a market benchmark, which is basically how the market did if its asset allocations were invested proportionate to SDCERS’ portfolio. Unfortunately, we did not beat our market benchmark of 7.6%; this is primarily due to relative underperformance from our private equity investments. (See full article for more details.) Learn More...

Seeking Proposals for IT Internal Auditor: Important Updates and Scope Clarifications via Q&A

Date: Sep 13, 2019 Categories: RFP

SDCERS invites experienced internal auditors to respond to the Request for Proposals to provide IT internal auditing services. These services include executing one to five IT internal audits over the next three years.UPDATE: Please see important updates and scope clarifications to the IT Internal Audit Services RFP via the Q&A posted on our website.  The deadline to submit proposals is September 27, 2019.  For details, read the Request for Proposal and the Q&A. Learn More...

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...

Annual Member Statements

Date: Aug 16, 2019 Categories: Member Portal, News Articles

Non-retired SDCERS Members will be receiving their Annual Statement of Benefits in the mail over the next several days. This statement contains detailed account information for the fiscal year ending June 30, 2019, which means the information is current as of July 1, 2019. The purpose of this Annual Statement of Benefits is (1) to ensure that your beneficiary designations are updated, and (2) to keep you informed of the details of your SDCERS retirement account.Please review the information on your statement carefully and contact SDCERS if you need to update your information or if you believe there is an error in your statement. A video detailing the contents of your statement is available here. If you have questions about your Annual Statement of Benefits, please visit your Payroll Specialist or call the SDCERS Call Center at 619-525-3600. And remember, your most up-to-date account information is always available on the SDCERS Member Portal. 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...

Active City Members: Register for Upcoming Pre-Retirement Seminar!

Date: Jul 31, 2019 Categories: Events, Press Release, Retirement Resources

UPDATE: THE SEPTEMBER SEMINAR IS NOW FULL. WE WILL ANNOUNCE THE DATES OF FUTURE SEMINARS AS THEY ARE SCHEDULED. Attention All Active City Members:   Registration is now open for SDCERS’ upcoming pre-retirement seminar, which will be held on September 11th at 2:30 p.m. in SDCERS’ Board room (401 West A Street, Third Floor, San Diego, CA 92101). At this educational seminar, SDCERS staff will walk you through your retirement benefits and help you plan for the future.No matter how old you are, it’s never too early or too late to start thinking about your retirement goals and making plans so that you can meet those goals. Space is limited, so please call SDCERS as soon as possible to register, at (619) 525-3600.  Additional pre-retirement seminars and DROP entry seminars will be held in the future, so if you miss this one, you can plan to attend next time.   NOTE: You must attend a pre-retirement seminar before attending a Deferred Retirement Option Plan (“DROP”) entry seminar. Learn More...

SDCERS Receives Certificate of Achievement for Excellence in Financial Reporting

The Government Financial Officers Association (“GFOA”) has awarded SDCERS the Certificate of Achievement for Excellence in Financial Reporting for SDCERS’ 2018 Comprehensive Annual Financial Report (“CAFR”) and Popular Annual Financial Report (“PAFR”). This is the 11th year in a row SDCERS has received this recognition! The GFOA is a non-profit professional association serving approximately 15,000 government finance professionals. SDCERS’ CAFR and PAFR were judged by an impartial panel and deemed to have met the high standards of the certificate program, including demonstrating an effective means to disclose and clearly communicate SDCERS’ financial story and to motivate Members and the public to read the CAFR and PAFR.  This award it the highest form of recognition in the area of government accounting and financial reporting. It represents a significant accomplishment by a governmental agency and its management. SDCERS’ award-winning CAFR and PAFR are available online and can be viewed here. 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...

New Member Contribution Rates For FY 2020

Date: Jul 01, 2019 Categories: Actuarial Valuations, Contribution Rates, News Articles

IMPORTANT: These changes only apply to (1) City of San Diego Members and (2) Port Safety Members who were hired after January 1, 2013.   New Member contribution rates went into effect on July 1, 2019 for all City of San Diego Members, and for Port Safety Members hired after January 1, 2013. If you fall into one of these categories, you can view your new contribution rates by going to “Retirement Plan Summaries” and clicking on your employer and date of hire. Most Members will only notice a minor adjustment on their first July paycheck. These Member contributions are the mandatory pre-tax deductions on a Member’s biweekly paycheck that are deposited into the SDCERS Trust Fund, where they earn interest and eventually fund each Member’s individual pension. Contributions are calculated as a percentage of the Member’s pensionable salary. The percentage is determined according to the Member’s plan tier and age of entry into SDCERS. Contribution rates are adjusted by SDCERS’ Board as needed, based on actuarial assumptions and calculations provided by SDCERS’ actuary.   Learn More...

Important Reciprocity Update

Date: Jun 24, 2019 Categories: News Articles, Reciprocity

SDCERS administers the pension plans for three plan sponsors - the City of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority. Your ability to establish reciprocity depends on which plan sponsor you intend to work for, so please review this information carefully. If you are currently working at a California government agency that participates in reciprocity, and you are considering employment with the Port or Airport, you can apply to establish reciprocity. If you are currently working at a California government agency that participates in reciprocity, and you are considering employment with the City of San Diego, please note that only sworn police officers may join the City of San Diego’s pension plan. The City’s pension plan was closed on July 20, 2012, following the passage of City Proposition B, to all new hires except sworn police officers. 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...

Welcome to Our New Website!

Date: Jun 11, 2019

Today, after months of planning, SDCERS officially launched its new website! The site has been completely redesigned to simplify and improve navigation so our members can more easily plan for and enjoy retirement. We hope the new format will help you find the information you need easily and more quickly. Check back on our site frequently, as we will continue adding more content, features, and updates. As with any new website, there may be a few pieces that need adjustment over the next few weeks. Please participate in our Website Satisfaction Survey  to send us your feedback and let us know if you have any questions or suggestions about the site or if you experience technical difficulty.  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...

City Retiree Health Open Enrollment Kickoff

Date: May 23, 2019 Categories: Open Enrollment

2019-2020 Health Open Enrollment for eligible City Retirees will run from June 3 – 28, 2019. The Health Open Enrollment Kickoff is this Friday, May 24 at the Balboa Park Club Ballroom. The event will feature formal presentations by Kaiser, Cigna, SCAN Health Plan, and Sharp from 10:00 a.m. – 10:30 a.m., and retirees will be able to talk to the providers and ask questions until noon. Click here for more information Learn More...

Seeking Proposals for Tax Counsel

Date: May 13, 2019 Categories: RFP

SDCERS invites experienced attorneys and law firms to respond to the Request for Proposal to provide tax-related legal services. These legal services include providing timely training and legal advice to Board and staff; presenting to the Board on tax matters, and representing SDCERS in tax matters. The deadline to submit proposals is June 7, 2019, and applicant questions are due by May 24. For details, read the Request for Proposal. Learn More...

Fact Check Your Future

Date: Apr 02, 2019 Categories: Retirement Resources

SDCERS administers benefits for more than 20 plan tiers, and you can learn more about YOUR plan by reading the Retirement Plan Summary that corresponds to your employer and hire date. Understand how your retirement contributions are calculated, when you are eligible for a lifetime retirement benefit, and your retirement benefit formula. Invest a few minutes in learning about your retirement future.  Learn More...

Member Portal Unavailable April 1, 2019

Date: Mar 27, 2019 Categories: Member Portal

ATTENTION! Please note we are closed April 1, 2019. In addition, on April 1, 2019 we will be conducting website maintenance. Our website, The Member Portal, and phones will be unavailable. We will resume regular business on April 2, 2019. 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 Holds Annual Membership Meeting

Date: Nov 30, 2018

Nearly 100 active and retired members attended the 2018 Annual Membership Meeting on November 30 to get an update on pension news, investments and benefits from executive staff. If you were unable to attend, you're encouraged to view the presentation here. A video of the event will be available within a week. Learn More...

SDCERS Reports 8.9% Final Investment Return for Fiscal Year 2018

Date: Nov 27, 2018 Categories: Investments

SDCERS’ Total Fund reported performance of +8.9% net of fees compared to the benchmark of 7.6% and assets topped $8 billion for the fiscal year ended June 30, 2018. U.S. equities were a strong source of value-add during the year, up 16.3% compared to the benchmark of 14.8%. 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...

SDCERS Board Approves 13th Check and Corbett Benefits for 2018

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...

MISAC Quality in IT Practices Award

Date: Oct 31, 2018 Categories: News Articles, Press Release

SDCERS is proud to announce it received the Municipal Information System Association of California (MISAC) Quality in IT Practices Award. MISAC is a collaborative organization of California local government IT professionals with the goal of promoting leadership, information sharing, and access to resources to enhance local government services and effectiveness. Membership includes cities, towns, public safety, special districts and other local governmental agencies/districts. Learn More...

SDCERS Recognized for Achieving Pension Standards

Date: Oct 08, 2018 Categories: News Articles, Press Release

The Public Pension Coordinating Council awarded the 2018 Public Pension Standards Award for Funding and Administration to SDCERS. The award recognizes SDCERS for meeting professional standards for plan funding and administration as set forth in the Public Pension Standards. The Public Pension Coordinating Council is a confederation of the National Association of State Retirement Administrators (NASRA), the National Conference on Public Employee Retirement Systems (NCPERS), and the National Council on Teacher Retirement (NCTR). Learn More...

California Supreme Court Rules on Challenge to Proposition B

Date: Aug 02, 2018 Categories: News Articles, Pension, Press Release, Proposition B

On August 2, 2018, the California Supreme Court overruled the Court of Appeal's decision regarding Proposition B. The Supreme Court found that a violation of meet and confer labor laws occurred in connection with the passage of Proposition B and sent the case back to the Court of Appeal to address the appropriate remedy for the violation. The Supreme Court's decision does not require any immediate action by SDCERS. Although SDCERS is not a party to these legal proceedings, SDCERS will continue to monitor these legal proceedings and will update this website and its members when it receives additional information. Represented City of San Diego employees should contact their labor union for additional information and unrepresented City employees should contact City Human Resources.   Learn More...

Health Insurance Cards Mailed to City Retirees Enrolled in Cigna and SCAN Health Plan

Date: Jul 20, 2018

Cigna and SCAN Health Plan have mailed ALL insurance cards to enrolled members. The insurance cards are mailed via US Postal Service First Class Mail, directly from the provider.    Learn More...

SDCERS Receives Certificate of Achievement for Excellence in Financial Reporting

The Government Financial Officers Association (GFOA) has awarded the Certificate of Acheivement for Excellence in Financial Reporting to the San Diego City Employees' Retirement System (SDCERS) for both its Comprehensive Annual Financial Report (CAFR) and the Popular Annual Financial Report (PAFR). This is the tenth consecutive year SDCERS has received this recognition. The award is the highest form of recognition in the area of government accounting and financial reporting and represents a significant accomplishment by a governmental agency and its management. The CAFR and PAFR have been judged by an impartial panel to meet the high standards of the program including demonstrating an effective means to disclose and clearly communicate SDCERS' financial story and to motivate members and the public to read the CAFR and PAFR. SDCERS' award-winning CAFR and PAFR are available online and copies of previous award-winners can be viewed here. The GFOA is a non-profit professional association serving approximately 15,000 government finance professionals.   Learn More...

New Contribution Rates for Members

Date: Jul 01, 2018 Categories: Actuarial Valuations, Contribution Rates

Important: These rate changes only apply to active City of San Diego employees, and Airport Authority and Unified Port District employees hired after 2013. New contribution rates went into effect July 1, 2018 for City of San Diego members and Airport Authority and Unified Port District employees hired after 2013. Most members will note only a minor adjustment on their July paycheck. These member contributions are the required pre-tax contributions to the SDCERS trust fund that are deducted from the members' bi-weekly paychecks. Contribution rates are determined by a member's plan tier and age of entry into SDCERS. Contribution rates are based on actuarial assumptions and calculations provided by SDCERS' actuary, Cheiron. To view the contribution rates from Cheiron's Actuarial Valuation for City of San Diego members, click here. For Airport Authority members, click here. For Port District members, click here. Learn More...

City Retiree Health Open Enrollment

Date: May 15, 2018 Categories: Health, News Articles, Open Enrollment

Health Open Enrollment ran from June 4 to June 29, 2018. Booklets containing rates and additional information were mailed. You can access an electronic copy here and the comparison charts.New for 2018: Health Net was replaced by Cigna and SCAN Health Plan.The Open Enrollment kick-off event was Wednesday, May 30. The event featured formal presentations by Kaiser, Cigna, SCAN Health Plan, Sharp and CareCounsel. Annual Help Day was held Friday, June 22, from 10a.m. to noon at the Balboa Park Club Ballroom.CareCounsel is there to help! CareCounsel Member Care Specialists are available for your healthcare inquiries and concerns. You can call them at (888) 227-3334 or e-mail staff@carecounsel.com Monday through Friday, 6:30 a.m. to 5:00 p.m. PST. Click here for additional information. 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...

1099Rs Mailed to Eligible Payees - Frequently Asked Questions

Date: Feb 02, 2018 Categories: 1099R, News Articles

IRS Form 1099-R’s were mailed to payees by January 30, 2018 and are now available on the Member Portal. Click here for additional information to assist in understanding the tax forms you received. If you have additional questions, please submit your questions via the Contact Us link located in the upper left of this page. 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...

Annual Health Allowance Reminder

Date: Dec 15, 2017 Categories: Health, News Articles

Reminder for Annual Health Allowance: effective July 1, 2017, your healthcare allowance is being applied on an annual basis, to comply with San Diego Municipal Code requirements. This means that SDCERS will no longer divide your annual allowance into 12 payments; rather your entire annual allowance will be available to you each July 1, as explained in the 2017 Open Enrollment materials on pages 9 and 12. You can read additional information 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

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...

Annual Membership Meeting Presentation

Date: Oct 23, 2017 Categories: Events, News Articles, Press Release

Nearly 100 active and retired members attended the 2017 Annual Membership Meeting on October 20 to get an update on pension news, investments, and benefits from executive staff. If you were unable to attend, you're encouraged to view the presentation here.   Learn More...

SDCERS CEO Recruitment Bulletin

Date: Oct 17, 2017 Categories: News Articles, Press Release

The San Diego City Employees' Retirement System and the City of San Diego are accepting resumes for the unclassified position of Chief Executive Officer. The filing deadline is Wednesday, November 1, 2017. For additional information, please visit: SDCERS CEO Recruitment Bulletin.   Learn More...

SDCERS Reports 13.5% Final Investment Return for Fiscal Year 2017

Date: Oct 16, 2017 Categories: Investments, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) reported a final return of 13.5% (net of fees) for the fiscal year ending June 30, 2017. Total Fund assets totaled $7.5 billion, representing growth of approximately $686 million during the fiscal year. While each asset class generated positive returns, the Fund’s double-digit return was primarily driven by public equities. Learn More...

Medicare Workshop Presentation

Date: Sep 18, 2017 Categories: Events, Health

SDCERS hosted a Medicare and Social Security presentation on Friday, October 6 at the Balboa Park Club Ballroom. Click here to access the presentation. Be sure to join us Friday, October 20 from 11:00am to Noon at the Balboa Park Club Ballroom for the SDCERS Annual Meeting! No RSVP is necessary. We look forward to seeing you there.   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...

Response to San Diego Union Tribune article

Date: Sep 15, 2017 Categories: News Articles

 Re: "City increases pension fund debt, but delays the financial consequences" (Sept. 9, 2017) To the Editor: As reported, San Diego City Employees’ Retirement System’s board of administration lowered the pension system’s investment return assumption from 7 percent to 6.5 percent over two years, adopting the lowest, most conservative investment return assumption of all California public pension plans. This will enhance system security and increase pension contributions required annually by employees. The board took this action despite SDCERS’ strong historical investment returns: 8.1 percent over the past 20 years.  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...

SDCERS Reports Preliminary Return of 13.4% For Fiscal Year 2017

Date: Aug 21, 2017 Categories: Investments, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 13.4% (net of fees) for the fiscal year ended June 30, 2017. Total Fund assets totaled $7.5 billion, representing growth of approximately $686 million during the fiscal year. While each asset class generated positive returns, the Fund’s double-digit return was primarily driven by public equities.   Learn More...

California Supreme Court Announces They Will Review Fourth District Court of Appeal Ruling on Proposition B

Date: Jul 27, 2017 Categories: News Articles, Proposition B

On July 27, 2017, the California Supreme Court announced they have agreed to review the Fourth District Court of Appeal ruling on Proposition B.  In 2012, Proposition B closed the defined benefit retirement plan to newly hired City of San Diego employees, other than sworn police officers. City unions challenged the legality of Proposition B on the grounds the City violated unfair labor practices by failing to meet and confer over the proposition. In April 2017, the Court of Appeal found the City did not violate unfair labor practices, thereby clearing the way for the City to continue to enforce Proposition B. Today, the California Supreme Court agreed to review the Fourth District Court of Appeal’s ruling.   The outcome of the California Supreme Court’s review is uncertain. SDCERS will continue to monitor developments on the issue and work with the parties involved on the outcome of any further court proceedings.   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...

Health Open Enrollment for City Retirees Has Begun

Date: Jun 04, 2017 Categories: Health, Open Enrollment

Open Enrollment is Monday, June 5 – Friday, June 30. Take a look at these five facts - they’ll help you understand whether or not you need to take action during this year’s Open Enrollment period. And don't forget to join SDCERS on Friday, June 16th for our annual Open Enrollment Help Day from 10 a.m. to noon at the Balboa Park Club Ballroom.   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...

Court of Appeal Upholds Proposition B Despite PERB’s Ruling

Date: Apr 11, 2017 Categories: News Articles, Proposition B

On April 11, 2017, the Court of Appeal found the California Public Employment Relations Board (PERB) erred when it concluded the City of San Diego violated unfair labor practices by declining to meet and confer over Proposition B, a citizen-sponsored initiative. By annulling the PERB’s decision, the Court of Appeal cleared the way for the City to continue to enforce Proposition B. Learn More...

SDCERS Held Third Annual City Health Presentation

Date: Apr 05, 2017

Over 200 retirees attended SDCERS’ third annual City Retiree Health Presentation on April 5. Presenters from SDCERS, City of San Diego Risk Management, Health Net, Sharp and Kaiser shared a comprehensive overview of all health coverage services offered through SDCERS, in preparation for Open Enrollment, to be held June 5 through June 30. Don’t miss our next event, Open Enrollment Help Day, on June 16 from 10 a.m. to noon at the Balboa Park Club Ballroom. To view all the presentations, click here.    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...

Retiree Health Presentation

Date: Mar 15, 2017 Categories: Health, Open Enrollment

Join SDCERS and City health providers for an overview of retiree health coverage to assist you with planning for Open Enrollment 2017.  Learn More...

Risk-Adjusted Return Summary

Date: Feb 22, 2017 Categories: Investments, News Articles

The Investment Division recently completed a review of SDCERS’ risk-adjusted return to understand better how SDCERS is being compensated for the risk it assumes in its portfolio. Aiming for a higher return is great, but not if it comes at the cost of taking on excessive risk that threatens the portfolio’s long-term stability. Learn More...

Hearing Set For the City of San Diego’s Appeal of the California Employment Relations Board’s Ruling on Proposition B:

Date: Feb 08, 2017 Categories: Proposition B

On March 17, 2017 at 9:00 AM, the Fourth District Court of Appeal will hear oral argument regarding the City of San Diego’s appeal of the California Employment Relations Board’s (PERB) ruling on Proposition B.  Proposition B, approved by the City of San Diego voters in 2012, closed the defined benefit retirement plan to City employees hired on or after July 20, 2012, other than for sworn police officers. PERB ruled the City violated the law by failing to meet and confer with City unions prior to supporting Proposition B. PERB ordered the City to, among other things, meet and confer with the unions, to reimburse the unions for their costs and attorney’s fees for the unions’ anticipated legal action to overturn Proposition B, and to make the affected employees whole. The City’s appeal seeks to overturn the PERB’s ruling.SDCERS will monitor this case and work with the parties involved on the outcome of the Court’s proceedings.  Learn More...

Response to San Diego Union Tribune article

Date: Feb 04, 2017 Categories: News Articles

SDCERS response to the article "Pension boards must get real when it comes to numbers and challenges," in the San Diego Union Tribune on Friday, February 3, 2017.  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...

1099Rs Mailed to Eligible Payees - Frequently Asked Questions

Date: Jan 23, 2017

IRS Form 1099-R’s will be mailed to payees by February 1, 2017. Click here for additional information to assist in understanding the tax forms you received. If you have additional questions, please submit your questions via the Contact Us link located in the upper left of this page, or call SDCERS Call Center at 619-525-3600.   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

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...

Annual Membership Meeting Presentation

Date: Oct 15, 2016 Categories: Events, News Articles, Press Release, Retirement Resources

Nearly 125 active and retired members attended the 2016 Annual Membership Meeting on October 14 to get an update on pension news, investments and benefits from executive staff. If you were unable to attend, you're encouraged to watch the video by clicking here.   View the slide presentation here.  Learn More...

SDCERS Holds First-Ever Medicare Event

Date: Oct 14, 2016

On Wednesday, October 12, 2016, SDCERS held its first-ever Medicare informational session. Over 100 members were in attendance at the Balboa Park Club Ballroom. The session included presentations from SDCERS, Kaiser, Sharp and Health Net. For those who missed the event, the presentations are now available by clicking here.   Learn More...

Annual Membership Meeting

Date: Sep 29, 2016 Categories: Press Release

Join SDCERS for our Annual Membership Meeting. All members are welcome to attend! 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...

SDCERS Reports Preliminary Return of 1.1% for Fiscal Year 2016

Date: Aug 26, 2016 Categories: Investments, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 1.1% (net of fees) for the fiscal year ending June 30, 2016. Despite the low absolute return, the performance was in the top third of the All Public Funds Universe obtained from BNY Mellon and Investment Metrics. Assets under management were $6.8 billion as of June 30, 2016. Learn More...

Retired Trustee Election

Date: Aug 15, 2016

Retirees were mailed ballots to fill the vacant Retired Trustee seat on the SDCERS Board of Administration. The elected representative will serve the remainder of a four-year term ending March 31, 2019. Ballots must be postmarked by September 2, 2016. Note, due to technology challenges, the IVR phone voting system will not be used for this election.   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...

Update on Purchase of Service Credit Litigation

Date: Jun 17, 2016 Categories: Litigation, Purchase of Service (PSC)

In March 2016, the Court of Appeal affirmed the Superior Court’s rulings in favor of SDCERS with one exception related to Safety Members in the Lenhart action. Except for the Lenhart plaintiffs, the plaintiffs appealed the Court of Appeal’s ruling against them to the California Supreme Court. In mid-June, the Supreme Court denied review of the Court of Appeal’s ruling, which effectively ends the litigation of the appealed cases. Learn More...

Health Open Enrollment For City Retirees Has Begun

Date: Jun 05, 2016 Categories: Health, News Articles, Open Enrollment

Open Enrollment is Monday, June 6 – Thursday, June 30. Take a look at these five facts - they’ll help you understand whether or not you need to take action during this year’s Open Enrollment period. And don't forget to join SDCERS on Tuesday, June 14th for our annual Open Enrollment Help Day from 10 a.m. to noon at the Balboa Park Club Ballroom.      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...

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

Date: May 27, 2016 Categories: COLA, News Articles

A Cost of Living Adjustment (COLA) was approved by the SDCERS’ Board of Administration at its May 13, 2016 meeting. The COLA will be applied to the retirement benefits of eligible SDCERS retirees effective July 1, 2016.Three separate COLAs were approved and differ depending on when the eligible member retired. Learn More...

SDCERS Receives Small Public Pension of the Year Award

Date: May 23, 2016 Categories: Investments, News Articles

SDCERS’ Chief Investment Officer, Liza Crisafi, received the Institutional Investor Small Public Pension of the Year award at the 7th Annual U.S. Investment Management Awards in New York City. Learn More...

Update on 2010 Purchase of Service Credit Correction Ruling

Date: Apr 22, 2016 Categories: Litigation

In 2010, the California Fourth District Court of Appeal ordered SDCERS to correct certain underfunded purchases of service credit. Subsequently, several members filed lawsuits against SDCERS for correcting those purchases. The Superior Court found in favor of SDCERS in several of those lawsuits, and the plaintiffs appealed those rulings. This month, the Court of Appeal issued its rulings, affirming the Superior Court’s rulings in favor of SDCERS with one exception related to Safety Members. That one exception will return to the Superior Court for further proceedings. SDCERS is committed to following the court’s rulings and will keep you updated on further developments. To view the two recent rulings, click here and see the latest Court of Appeal Rulings listed under Abbe vs. SDCERS and City of San Diego and under Baidya vs. SDCERS. Learn More...

SDCERS Held Second Annual City Health Presentation

Date: Apr 08, 2016 Categories: Health, News Articles, Open Enrollment

Around 200 retirees attended SDCERS’ second annual City Retiree Health Coverage Presentation on April 8. Presenters from SDCERS, City of San Diego Risk Management, Health Net, Sharp and Kaiser shared a comprehensive overview of all health coverage services offered through SDCERS, in preparation for Open Enrollment, to be held June 6 through June 30. Don’t miss our next event, Open Enrollment Help Day, on June 14 from 10 a.m. to noon at the Balboa Park Club Ballroom. Learn More...

Retiree Health Presentation - Friday, April 8

Date: Mar 30, 2016 Categories: Health, Open Enrollment

Join SDCERS and City health providers for an overview of retiree health coverage to assist in planning for Open Enrollment 2016. The Retiree Health Presentation will be held on Friday, April 8 from 10 a.m. to noon at the Balboa Park Club Ballroom.  Learn More...

City of San Diego Appeals Prop B Ruling by California Public Employment Relations Board

Date: Jan 27, 2016 Categories: News Articles, Proposition B

On January 25, 2016, the City of San Diego petitioned the Fourth Appellate District Court of Appeal to vacate a ruling by the Public Employment Relations Board (PERB) that would unwind Proposition B, the 2012 pension-reform initiative. Learn More...

1099Rs Mailed to Eligible Payees - Frequently Asked Questions

Date: Jan 20, 2016 Categories: 1099R, News Articles

On February 1, 2016, 1099R’s will be mailed to eligible SDCERS payees. This notice provides payees with additional information to assist in the completion of their tax returns. Be sure to click the the title for a list of frequently asked questions. If you have additional questions, please call SDCERS Call Center at 619-525-3600 or submit your questions by clicking on "Contact Us."   Learn More...

Ruling by California Public Employment Relations Board Regarding Prop B

Date: Jan 11, 2016 Categories: News Articles, Proposition B

Proposition B, approved by the City of San Diego voters in 2012, closed the defined benefit retirement plan to City employees hired on or after July 20, 2012, other than for sworn police officers.  Four City unions filed a complaint with the California Public Employment Relations Board (PERB), contending, among other things, the City failed to meet and confer with the unions prior to supporting Proposition B, in violation of the Meyers-Milias Brown Act. 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...

2016 Medicare Part B Update

Date: Dec 16, 2015 Categories: Health, News Articles

If you recently received an increase or decrease to your Medicare Part B premium, you will need to submit to SDCERS your 2016 Benefit Verification Letter from the Social Security Administration to be reimbursed for this increased or decreased amount. If you do not submit it, you will continue to receive the reimbursement amount SDCERS has on file. Click the title for more information. 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...

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...

SDCERS Board Approves 13th Check and Corbett Benefits for 2015

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...

SDCERS Reports 3.3 Percent Final Investment Return for Fiscal Year 2015

Date: Nov 04, 2015 Categories: Investments, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) reported a final return of 3.3% (net of fees) for the fiscal year ending June 30, 2015. Assets under management grew $122 million during the fiscal year. Learn More...

SDCERS Annual Meeting Video Now Available

Date: Nov 02, 2015 Categories: News Articles

Nearly 150 active and retired members attended the 2015 Annual Membership Meeting on October 23 to get an update on pension news, investments and benefits from executive staff.   Learn More...

Annual Member Statements Coming Soon: Watch this Video!

Date: Sep 04, 2015 Categories: Member Portal, News Articles, Retirement Resources

As part of SDCERS Retirement Readiness campaign and our ongoing commitment to customer service, all members who have not yet retired will soon receive an Annual Member Statement. The purpose of the statement is to ensure that you are informed of the details of your SDCERS retirement account. Once you receive your Annual Member Statement, we encourage you to watch this video to learn all about them.   Learn More...

SDCERS Reports Preliminary Return of Three Percent for Fiscal Year 2015

Date: Aug 14, 2015 Categories: Investments, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) reported a preliminary return of 3% (net of fees) for the fiscal year ending June 30, 2015. Assets under management grew $100 million during the fiscal year.   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...

Health Open Enrollment For City Retirees Has Begun

Date: May 29, 2015 Categories: Health, Open Enrollment

Click the title for the 5 most important facts you need to know, all enrollment details, and a list of Frequently Asked Questions.   Learn More...

SDCERS Receives Certificate of Achievement for Excellence in Financial Reporting

The Government Financial Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the San Diego City Employees’ Retirement System (SDCERS) for its FY 2014 Comprehensive Annual Financial Report (CAFR). This is the 7th consecutive year SDCERS has received this recognition. Learn More...

Cost of Living Adjustments

Date: May 04, 2015 Categories: COLA, News Articles

July 1, 2015 recommended COLAs have been determined. Click title for more information. Learn More...

SDCERS Recognized for Best Private Equity Program in North America

Date: Apr 30, 2015

SDCERS was recognized as one of the most outstanding and innovative Public Plans in North America at the Investor Intelligence Awards ceremony April 22. SDCERS took home the award for best private equity program. Learn More...

SDCERS Held First-Ever City Health Workshop

Date: Apr 21, 2015 Categories: Health, Open Enrollment

More than 400 retirees attended SDCERS’ first-ever City Retiree Health Coverage Workshop on April 20. Click here for more information. Learn More...

Retiree Health Coverage Workshop

Date: Apr 16, 2015 Categories: Health, Open Enrollment

Monday, April 20, 2015 10 a.m. to Noon at the Balboa Park Club Ballroom SDCERS invites you to a Retiree Health Coverage Workshop on Monday, April 20. Click here for more information. Learn More...

Answers to Your Questions about Form 1099-R

Date: Feb 13, 2015 Categories: 1099R

Information to assist SDCERS Members in the completion of tax returns. Learn More...

CEO Mark Hovey Earns Top Honor

Date: Feb 12, 2015 Categories: News Articles, Press Release

SDCERS Chief Executive Officer Mark Hovey was honored at the San Diego Business Journal’s eighth annual Most Admired CEO ceremony held January 28. Hovey earned the top honor in the Government Category. SDCERS staff and Board Trustees are proud of this accomplishment which represents success for all our Members and the plan sponsors, as well as the public.   Learn More...

SDCERS Releases Latest Actuarial Valuations

Date: Jan 12, 2015 Categories: Actuarial Valuations, News Articles, Press Release

San Diego City Employees’ Retirement System (SDCERS) announced that strong investment returns lowered the City of San Diego’s annual payment to the pension system by $8 million.   The SDCERS Board of Administration reviewed preliminary annual actuarial valuations as of June 30, 2014 for the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority at its January 9 meeting. All three plan sponsors showed improvements in their pension plan funding ratios.   Learn More...

An SDCERS Retirement Ready Resolution for the New Year

Date: Dec 31, 2014 Categories: Retirement Resources

A new year is upon us. Have you considered your resolutions? Here are several quick ideas to jump start your Retirement Ready resolution.   Learn More...

Office Closure in Observance of New Year's Day

Date: Dec 31, 2014

SDCERS will be closed on Thursday, January 1 in observance of the New Year's Day holiday. Learn More...

SDCERS Presents FY 2014 Popular Annual Financial Report

Date: Dec 30, 2014 Categories: Investments

SDCERS is pleased to present its Popular Annual Financial Report for FY 2014. The PAFR provides a summary of SDCERS' financial health, investment performance and key accomplishments throughout the year. Learn More...

Office Closure in Observance of Christmas Holiday

Date: Dec 24, 2014

SDCERS will be closed on December 25th in observance of the Christmas holiday. Learn More...

SDCERS Issues RFP for Tax Counsel Legal Services

Date: Dec 19, 2014 Categories: RFP

The San Diego City Employees’ Retirement System (SDCERS) has issued a Request for Proposals for tax counsel legal services. Learn More...

SDCERS Releases FY 2014 Comprehensive Annual Financial Report

Date: Dec 09, 2014

The San Diego City Employees Retirement System (SDCERS) has released its Fiscal Year 2014 Comprehensive Annual Financial Report (CAFR). Learn More...

Annual Member Statements Coming Soon: Watch this Video!

Date: Nov 17, 2014 Categories: Retirement Resources

As part of SDCERS Retirement Readiness campaign and our ongoing commitment to customer service, all members who have not yet retired will soon receive an Annual Member Statement. Learn More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2014

Date: Nov 14, 2014 Categories: Annual Supplemental Benefit & Corbett

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. Learn More...

DROP Interest Crediting Rate Change for 2015

Date: Nov 14, 2014 Categories: DROP

At its November 14, 2014 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, 2015. Learn More...

SDCERS PUSHES FOR GREATER TRANSPARENCY THROUGH REAL TIME BOARD STREAMING

Date: Nov 10, 2014 Categories: News Articles, Retirement Resources

The San Diego City Employees’ Retirement System (SDCERS) today announced its Board of Administration and Business and Governance Committee meetings will be streamed live on its website beginning November 2014. Learn More...

SDCERS REPORTS 16.8 PERCENT FINAL INVESTMENT RETURN FOR FY 2014

Date: Nov 05, 2014 Categories: Investments

Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a final 16.8 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Assets under management grew by $1 billion during the fiscal year.   Learn More...

SDCERS Annual Meeting Video Now Available

Date: Oct 30, 2014 Categories: Events, Retirement Resources

If you were unable to attend the SDCERS Annual Membership Meeting, you're encouraged to watch the video. Learn More...

Pre-Retirement Readiness Seminars for City of San Diego Employees

Date: Oct 28, 2014 Categories: Events, Retirement Resources

SDCERS is offering members that head start opportunity with two Pre-Retirement seminars for City of San Diego employees in November and December. Learn More...

SDCERS' Annual Membership Meeting - Details and Directions

Date: Oct 24, 2014 Categories: Events, Retirement Resources

SDCERS encourages you to attend the 2014 Annual Membership Meeting being held at 11 a.m. on Monday, October 27 in Balboa Park. The Annual Membership Meeting is a great opportunity for Active, Retired and Deferred Vested members (and spouses) to learn about the financial health of the pension system. 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...

Times of San Diego: Kudos to S.D. Pension Gurus: 17.3% Return

Date: Sep 10, 2014 Categories: Investments, News Articles

The San Diego City Employees' Retirement System reported Tuesday that its net investment return for the fiscal year that ended June 30 was 17.3 percent, higher than initially believed. Learn More...

SDCERS Reports Revised Fiscal Year 2014 Investment Return of 17.3 Percent

Date: Sep 09, 2014 Categories: Investments, Press Release

Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a revised preliminary 17.3 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Learn More...

SDCERS Issues RFP for General Investment Consultant

Date: Sep 08, 2014 Categories: Investments, RFP

The San Diego City Employees’ Retirement System (SDCERS) has issued a Request for Proposals for General Investment Consultant. Learn More...

Save the Date: SDCERS' 2014 Annual Membership Meeting

Date: Sep 05, 2014 Categories: Events

SDCERS encourages you to save the date for the 2014 Annual Membership Meeting being held at 11 a.m. on Monday, October 27 in Balboa Park. Learn More...

SDCERS’ Private Equity Portfolio Named Best Among Public Pension Plans Nationwide

Date: Aug 21, 2014 Categories: Investments, Press Release

Council President Gloria praises pension system following solid investment returns for FY 2014   Learn More...

SDCERS Reports Solid Return of 16.6 Percent for Fiscal Year 2014

Date: Aug 13, 2014 Categories: Investments, Press Release

Investment officers from the San Diego City Employees’ Retirement System (SDCERS) today reported a preliminary 16.6 percent investment return (net of fees) for the fiscal year ending June 30, 2014. Assets under management grew by $900 million during the fiscal year.   Learn More...

SDCERS Receives Award for Achievement in Popular Annual Financial Reporting

SDCERS has been given the Award for Outstanding Achievement in Popular Annual Financial Reporting by the Government Financial Officers Association for its FY 2013 Popular Annual Financial Report. Learn More...

SDCERS Launches Dynamic, New Website

Date: Jul 28, 2014 Categories: Press Release, Retirement Resources

The San Diego City Employees' Retirement System (SDCERS) today launched its new website, www.sdcers.org, incorporating a new look, improved navigation and interactive tools to help members plan for and enjoy retirement. Learn More...

SDCERS' Assets Surpass $7 Billion for First Time in System History

Date: Jul 19, 2014 Categories: Investments, Press Release

Investment officers from the San Diego City Employees' Retirement System (SDCERS) have announced that as of July 2, 2014, assets have surpassed $7 billion for the first time in system history. Learn More...

SDCERS Issues RFP for Fiduciary Counsel Legal Services

Date: Jul 18, 2014 Categories: RFP

The San Diego City Employees’ Retirement System (SDCERS) has issued a Request for Proposals for fiduciary counsel legal services. The selected attorney or law firm will provide fiduciary legal services to SDCERS’ Board of Administration and staff.  A minimum of 10 years in fiduciary counsel experience with public retirement systems is required to submit a proposal. The proposals must be received by SDCERS on or before Friday, September 19, 2014 at 5:00 p.m. 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...

Judge Rules in Favor of SDCERS in Purchase of Service Litigation

Date: Jun 20, 2014 Categories: Litigation, Press Release, Purchase of Service (PSC)

Judge Prager has granted SDCERS’ Motion for Summary Judgment in the Purchase of Service (PSC) Corrections Litigation. The PSC Corrections litigation involves nine lawsuits filed by City and Airport employees with PSC contracts affected by a 2010 Court of Appeal decision relating to underpricing of purchase of service contracts for “air time.” Learn More...

5 Facts You Should Know About Retiree Health Open Enrollment

Date: Jun 13, 2014 Categories: Health

Open Enrollment is Monday, June 9 - Thursday, July 3rd. Take a look at these five facts - they’ll help you understand whether or not you need to take action during this year’s Open Enrollment period. Learn More...

Supplemental COLA Funding Approved for FY 2015

Date: Jun 11, 2014 Categories: COLA

Funding for the Supplemental Cost of Living Adjustment (COLA) benefit currently being paid to approximately 600 City of San Diego members has been confirmed. The City Council’s approval of Mayor Faulconer’s FY 2015 budget extended funding of the Supplemental COLA benefit for one year. Funding for fiscal 2015 and beyond will be brought before the Council for approval on a year-by-year basis.  Learn More...

SDCERS Receives Certificate of Achievement for Excellence in Financial Reporting

The Government Financial Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the San Diego City Employees’ Retirement System (SDCERS) for its FY 2013 Comprehensive Annual Financial Report (CAFR). Learn More...

SDCERS' New Member Portal Now Available! Sign Up Today!

Date: Jun 06, 2014 Categories: Member Portal, Retirement Resources

SDCERS' new, enhanced Member Portal is now available! Register today to take advantage of the new tools and features available to help you prepare for and enjoy retirement. Beginning June 9th, you will simply need to re-register on the new Portal to take advantage of the latest interactive and easy-to-use online tools to manage your benefits – at the highest level of security. Learn More...

New Policy Impacts Members Represented by Local 145

Date: May 14, 2014 Categories: DROP

At the May 2014 meeting, the Board of Administration approved Board Rule 6.50, which impacts DROP participants who are eligible to extend their DROP participation period beyond five years. The San Diego Municipal Code allows DROP participants who are represented by San Diego City Fire Fighters Local 145 the option of extending their DROP participation beyond five years using their unused annual leave. 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...

COLA Adjustment Approved by SDCERS Board of Administration

Date: May 09, 2014 Categories: COLA

A Cost of Living Adjustment (COLA) was approved by the SDCERS’ Board of Administration at its May 9, 2014 meeting. The COLA will be applied to the retirement benefits of eligible SDCERS retirees effective July 1, 2014. Learn More...

Information for SDCERS Members Receiving a Pension

Date: Apr 16, 2014 Categories: Pension, Retirement Resources

This information explains the reasons that, for some SDCERS members, the annual Form 1099-R you receive is issued as “Taxable Amount Not Determined” and the amount in Box 2a of the form is reported as $0.00 (zero). Learn More...

Save the Date: Health Enrollment Help Day - June 18, 2014

Date: Apr 02, 2014 Categories: Events, Health

Eligible retirees wishing to make changes to their health insurance plans are encouraged to save the date for Health Enrollment Help Day on Wednesday, June 18, 2014. 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, City Settle Substantially Equal Lawsuit

Date: Feb 21, 2014 Categories: Litigation, Press Release

The San Diego City Employees’ Retirement System's (SDCERS) settlement agreement with the City of San Diego in the Substantially Equal lawsuit was approved by Judge Zimmerman today, marking the first time in more than a decade that there is no open litigation between SDCERS and the City. Learn More...

SDCERS Members Eligible for CalPERS’ Statewide Long-Term Care Program

Date: Feb 07, 2014 Categories: Health

SDCERS members are eligible for the California Public Employees' Retirement System’s (CalPERS) revitalized Long-Term Care (LTC) Program now open and available statewide. The LTC is designed to make it easier to receive home medical care through tailored health plans that suit individual needs and budgets, while providing affordable options that help keep pace with the rising costs of long-term care. Learn More...

1099Rs Mailed to Eligible Members - Frequently Asked Questions

Date: Jan 30, 2014 Categories: 1099R

On January 31, 2014, 1099R’s were mailed to eligible SDCERS members. This notice provides members with additional information to assist in the completion of the Member’s tax returns. If you have additional questions, please call SDCERS Call Center at 619-525-3600 or submit your questions through the Contact Us page at www.sdcers.org. A print-friendly version of this information is available here.    Learn More...

Contribution Rate Adjustments for City of San Diego Active Members

Date: Jan 28, 2014 Categories: Contribution Rates

Beginning July 2014, active SDCERS members from the City of San Diego will experience a decrease in their biweekly contribution rates due to adjustments made to the System’s discount rate, inflationary pay assumptions and multi-year pay freeze agreements made between the City and its labor unions. On average, as a percentage of pay, rates will be reduced by 0.65 percent for General members and reduced by 0.84 percent for Safety members. Learn More...

14 SDCERS Retirement Basics for (20)14

Date: Jan 07, 2014 Categories: Retirement Resources

The start of a new year is a great time to make sure you’re on track for a secure retirement. Below are 14 important terms and resources to help City of San Diego, Unified Port District and Airport Authority active, deferred members and retirees better understand their SDCERS benefits and get ready for retirement in 2014. Learn More...

SDCERS Releases June 30, 2013 Actuarial Valuations

Date: Jan 03, 2014 Categories: Actuarial Valuations

The San Diego City Employees’ Retirement System (SDCERS) today released its annual actuarial valuations as of June 30, 2013 for the City of San Diego (City), the San Diego Unified Port District (Port) and the San Diego County Regional Airport Authority (Airport). Learn More...

SDCERS Releases Annual Actuarial Valuations

Date: Jan 03, 2014 Categories: Press Release

The San Diego City Employees’ Retirement System (SDCERS) today released its annual actuarial  valuations for the City of San Diego, the Unified Port of San Diego and the San Diego County Regional  Airport Authority for the year ended June 30, 2013.  Learn More...

SDCERS Releases FY 2013 Comprehensive Annual Financial Report

Date: Dec 10, 2013 Categories: Comprehensive Annual Financial Report (CAFR)

The San Diego City Employees Retirement System (SDCERS) has released its Fiscal Year 2013 Comprehensive Annual Financial Report (CAFR). Read an electronic copy of the FY 2013 CAFR here. Learn More...

Detroit's Bankruptcy Ruling and its Relevance to SDCERS

Date: Dec 05, 2013 Categories: Litigation, Retirement Resources

The recent bankruptcy ruling in Detroit has generated considerable speculation about its potential impact on pension benefits for California public employees. SDCERS expects no immediate threat to member pension benefits as a result of the Detroit ruling, nor is there any indication of such a threat in the foreseeable future. Learn More...

SDCERS, City Reach Agreement on Substantially Equal Lawsuit

Date: Nov 25, 2013 Categories: Litigation, Press Release

The San Diego City Employees’ Retirement System (SDCERS) today announced it has reached a settlement agreement with the City of San Diego in the Substantially Equal lawsuit. While there was no final judgment from the court, the settlement lets stand SDCERS’ decades-long application of the "substantially equal" requirement of the City Charter, puts an end to years of litigious spending and marks the first time in more than a decade that there is no open litigation between SDCERS and the City. Learn More...

Substantially Equal Trial Set to Begin in December

Date: Nov 15, 2013

The Substantially Equal trial is set to begin at 8:30 a.m. on December 3, 2013 before Judge Zimmerman in Department 1 of the San Diego Superior Court located on Broadway Street. 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...

SDCERS Announces Final Fiscal Year 2013 Investment Returns of 13.6%

Date: Oct 24, 2013 Categories: Investments, Press Release

The San Diego City Employees’ Retirement System today announced final investment earnings of 13.6% (net of fees) for fiscal year 2013. The total fund policy benchmark was 12.6%. This placed SDCERS’ return in the top 17th percentile of the public funds universe, as measured by the Bank of New York Mellon. Learn More...

How the Affordable Care Act Impacts SDCERS Retirees

Date: Sep 27, 2013 Categories: Health, Retirement Resources

The Affordable Care Act (ACA) was signed into law in March 2010 to provide access to health care for those who are uninsured, to create a more efficient way to administer health care and to contain the growth of future health care costs.There are a number of ways that this is being done, but one in particular that directly impacts SDCERS retirees at this time. SDCERS’ retirees are required to have access to information about the new Health Insurance Marketplace in preparation for the Individual Mandate requirement of the law. 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: Annual Supplemental Benefit & 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...

Save the Date for SDCERS' Annual Membership Meeting

Date: Sep 05, 2013 Categories: Events

Save the Date for SDCERS' Annual Membership Meeting Learn More...

SDCERS Preliminary Fiscal Year 2013 Investment Returns Total 13.4%

Date: Aug 25, 2013

The San Diego City Employees’ Retirement System today announced preliminary investment earnings of 13.4% (net of fees) for fiscal year 2013. The total fund policy benchmark was 12.0%. 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...

SDCERS Receives Award for Outstanding Achievement in Popular Annual Financial Reporting

Date: Aug 06, 2013

The San Diego City Employees’ Retirement System (SDCERS) has been given the Award for Outstanding Achievement in Popular Annual Financial Reporting by the Government Financial Officers Association (GFOA) for its FY 2012 Popular Annual Financial Report (PAFR). This is the fourth consecutive year SDCERS has received this award. Learn More...

After DOMA and Prop 8: Impacts of the Supreme Court’s Decisions on SDCERS Benefits

Date: Aug 06, 2013 Categories: Litigation

The U.S. Supreme Court declared the federal Defense of Marriage Act of 1996 (DOMA) unconstitutional on June 26, 2013. On the same day, the Court determined that challenges of the California Supreme Court’s decision on California’s Proposition 8 did not have standing. This leaves the California Supreme Court’s ruling that Proposition 8’s declaration that marriage can only occur between a man and a woman as unconstitutional intact. While it will take time to determine the full consequences of these rulings, they will have an impact on the tax treatment of benefits paid by SDCERS to members of same-sex marriages.   Learn More...

IPE: San Diego City backs Europa Capital fund

Date: Aug 06, 2013 Categories: Investments, News Articles

GLOBAL – San Diego City Employees' Retirement System is to invest in Europa Capital's value-add fund, in the latest example of US institutions targeting European real estate strategies. 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...

Supplemental COLA Funding for City Retirees Receives Final Approval

Date: Jul 25, 2013

Fiscal year 2014 payment of the Supplemental COLA for eligible City retirees received final approval this week, following its inclusion in Mayor Filner’s 2014 budget and two subsequent readings of the ordinance by the City Council. The ordinance amended the Municipal Code to allow funding for the benefit on a pay-as-you-go basis. Learn More...

New Health Rates in Effect on July Pension Checks

Date: Jul 24, 2013 Categories: Health

City of San Diego retirees will note fiscal year 2014 health insurance rates are in effect and reflected on pension checks issued July 31, 2013. The new rates reduced the net pay amount for some retirees who selected a Health Net plan. Learn More...

Mayoral Veto of SDCERS Board Appointments Stands, New Candidates Proposed

Date: Jul 23, 2013

Mayor Bob Filner’s veto of the Council resolution confirming his appointment of four Trustees to the SDCERS’ Board of Administration was not overturned today, following a vote by the City Council. The Council voted 5-3, with six affirmative votes needed to override the veto. 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...

Supplemental COLA Reserve Fund Continued for City Retirees

Date: Jul 12, 2013

Funding for the Supplemental Cost of Living Adjustment (COLA) benefit currently being paid to roughly 650 City members was confirmed on June 10. The City Council’s approval of Mayor Bob Filner’s FY 2014 budget extended funding of the Supplemental COLA benefit for one year. Funding for fiscal 2015 and beyond will be brought before the Council for approval  on a year-by-year basis.  The ordinance is pending approval by the City Council following a first and second reading, which is expected to take place in July. If approved, the soonest effective date would be in August. Learn More...

Substantially Equal Trial Postponed

Date: Jul 03, 2013 Categories: Litigation

Judge Zimmerman granted a postponement of the Substantially Equal lawsuit today, following a request by SDCERS and the City of San Diego. The trial had been set to begin July 9 but has now been postponed. A Status Conference is currently set for September 26 to schedule a new trial date. 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...

OPEN ENROLLMENT 2013-2014: Four Facts You Should Know

Date: May 30, 2013 Categories: Health

Open Enrollment is Monday, June 3th - Friday, June 28th. Take a look at these four facts - they’ll help you understand whether or not you need to take action during this year’s Open Enrollment period. Learn More...

SDCERS Receives Achievement for Excellence in Financial Reporting Award

Date: May 29, 2013

The Government Financial Officers Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to the San Diego City Employees’ Retirement System (SDCERS) for its FY 2012 Comprehensive Annual Financial Report (CAFR). This is the fifth consecutive year SDCERS has received this recognition. Learn More...

Goldsmith Withdraws Motion for Summary Judgment in UAL Substantially Equal Case

Date: May 28, 2013 Categories: Litigation

The San Diego City Employees’ Retirement System (SDCERS) today received a Notice of Withdrawal of Motion for Summary Judgment from City Attorney Jan Goldsmith’s office in the UAL Substantially Equal case, effectively demonstrating SDCERS’ strong position in this matter. The City’s motion was scheduled to be heard before a judge on Monday, April 8th. Learn More...

Cost of Living Adjustment Approved by SDCERS' Board of Administration

Date: May 20, 2013 Categories: COLA

A Cost of Living Adjustment (COLA) was approved by the SDCERS’ Board of Administration at its May 17, 2013 meeting. The COLA will be applied to the retirement benefits of eligible SDCERS retirees effective July 1, 2013. Learn More...

Changes to Methods of Payment for Purchase of Service Credit

Date: May 20, 2013

At its May 17, 2013 meeting, the SDCERS Board of Administration voted to limit the ability to use post-tax payments for Purchase of Service Credit (PSC) contracts, except as indicated below. Post-tax payments, whether by lump-sum or payroll deductions, for Service Credit purchases that do not fall within the exceptions noted below are no longer available to Members.  Learn More...

SDCERS Urges You to Protect Yourself Against Pension Income Schemes

Date: May 13, 2013 Categories: Retirement Resources

In recent weeks, you may have seen news articles about schemes that have preyed on retiree pension checks. This practice involves selling your future stream of monthly pension checks in exchange for a lump-sum payment now. Learn More...

SDCERS Answers Member Questions

Date: May 08, 2013 Categories: Retirement Resources

Do you have a question or comment about your SDCERS retirement benefits? SDCERS' Retirement Counselors answer questions submitted through the 'Contact Us' page here daily. Learn More...

The Facts on Sub Equal: SDCERS’ Response to City Attorney Goldsmith’s Update “Explaining Substantially Equal”

Date: Apr 29, 2013

In order to provide accurate information to members and the general public, SDCERS offers the following responses to City Attorney Goldsmith’s “update” regarding the Substantially Equal lawsuit between the San Diego City Employees’ Retirement System (SDCERS) and the City of San Diego. Learn More...

Save the Date: SDCERS' Open Enrollment Help Day - June 12th

Date: Apr 22, 2013 Categories: Events, Health

Note: This year, SDCERS has adjusted the format to include a brief presentation by sponsored providers at the conclusion of Help Day. The presentation will be at 12 p.m. in the Santa Fe Room. 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...

Mayor Filner, SDCERS Urge City Attorney to Drop Frivolous Lawsuit Costing Taxpayers Millions

Date: Apr 12, 2013 Categories: Litigation, Press Release

Mayor Bob Filner and San Diego City Employees’ Retirement System Board President Herb Morgan today publicly urged City Attorney Jan Goldsmith to drop the City’s lawsuit against the Retirement System, calling the case a waste of taxpayer dollars Learn More...

"Sub Equal" Trial Continued to July

Date: Apr 11, 2013 Categories: Litigation

Judge Joseph Zimmerman, the presiding judge for the UAL “Substantially Equal” case between the City of San Diego and the San Diego City Employees’ Retirement System (SDCERS), has announced that the trial date will be continued to July from its previously scheduled date in May. The trial will now begin on Tuesday, July 9th, at 10:00 a.m. at the San Diego Superior Court, 220 W. Broadway, on the fourth floor. Learn More...

Pensions and Investments: SDCERS Earns 13.9% on Investments in 2012

Date: Feb 25, 2013 Categories: Investments, News Articles

San Diego City Employees' Retirement System earned 13.9% net of fees for the year ended Dec. 31, said Elizabeth Crisafi, chief investment officer for the $5.6 billion system, in an e-mail. Learn More...

Be Retirement Ready, Know Your Tier

Date: Feb 24, 2013 Categories: Retirement Resources

SDCERS administers more than a dozen benefit tiers between its three participating plan sponsors – the City, Port and Airport. Within those tiers, members are eligible for different benefit options which affect member contribution rates, retirement eligibility and future retirement benefits. Learn More...

Public Employees Board Issues Ruling on Proposition B

Date: Feb 15, 2013

The Public Employees’ Relations Board (PERB) this week issued its proposed ruling on the unions’ challenge to Proposition B, otherwise known as Comprehensive Pension Reform.  Learn More...

New State and Federal Tax Rates in 2013

Date: Jan 14, 2013

New California and federal tax withholding rates went into effect January 1, 2013. You may wish to consider having your tax preparer review your withholdings and ensure you are withholding the correct amount. Learn More...

Five Resources to Learn More About Your SDCERS Retirement Benefits

Date: Jan 13, 2013 Categories: Member Portal, Retirement Resources

Use the following five resources to learn more about your SDCERS retirement benefits. Learn More...

SDCERS Releases 2012 Actuarial Valuations

Date: Jan 11, 2013 Categories: Actuarial Valuations

The San Diego City Employees’ Retirement System (SDCERS) today released its annual actuarial Valuations for the City of San Diego, the San Diego Unified Port District and the San Diego County Regional Airport Authority for the year ended June 30, 2012. SDCERS' actuary, Cheiron, will present the Valuations to the SDCERS Board of Administration at its regularly scheduled meeting on Friday, January 18th. Learn More...

13 SDCERS Retirement Basics for 2013

Date: Jan 10, 2013 Categories: Retirement Resources

The start of a new year is a great time to make sure you’re on track for a secure retirement. Below are 13 important terms and resources to help City of San Diego, Unified Port District and Airport Authority Active members and retirees better understand their SDCERS benefits and get ready for retirement in 2013. Learn More...

10% IRS Penalty for Retirees Who Return to Work

Date: Dec 20, 2012 Categories: Provisional Employment, Retirement Resources

Starting January 1, 2013, SDCERS will implement an IRS policy that impacts a retiree's ability to return to employment for the same plan sponsor after retirement. This will impact Members and retirees who perform work after January 1, 2013 from all three plan sponsors - the City of San Diego, the San Diego County Regional Airport Authority (Airport) and the Unified Port of San Diego (Port). Learn More...

Judge Rules in Support of SDCERS in UAL Substantially Equal Case

Date: Dec 05, 2012 Categories: Litigation

Judge Joseph Zimmerman yesterday ruled in support of the San Diego City Employees’ Retirement System (SDCERS) in the UAL Substantially Equal case, denying the City of San Diego’s Motion for Judgment on the Pleadings on both procedural grounds and on the merits. Learn More...

DROP Interest Crediting Rates for Active Participation Accounts and DROP Annuities

Date: Nov 21, 2012 Categories: DROP

DROP Interest Crediting Rates for Active Participation Accounts and DROP Annuities are set by the Board based on a weighted composite of rates selected by the Board. See Board Rules 6.10 and 6.40 under Forms & Publications. No later than December of each year, staff presents updated DROP Interest Crediting and DROP Annuity rates to the Board of Administration for its consideration. Learn More...

California Public Employees’ Pension Reform Act of 2013 FAQ

Date: Nov 20, 2012 Categories: PEPRA

Recent news about the enactment of new pension laws as a result of the California Public Employees’ Pension Reform Act (PEPRA), also known as AB 340, has generated increased attention and questions from our members. Learn More...

Proposition B: Comprehensive Pension Reform (CPR) FAQ

Date: Nov 19, 2012 Categories: Proposition B

Since the passage of Proposition B – otherwise known as the Comprehensive Pension Reform Initiative (CPR) - SDCERS has received questions from City of San Diego members about how the measure affects their retirement benefits. While SDCERS’ is neither affiliated with nor involved in Proposition B, it is important for our members to understand the initiative. 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...

13th Check and Corbett for 2012

Date: Oct 11, 2012 Categories: Annual Supplemental Benefit & Corbett

Due to insufficient realized earnings for fiscal year 2012, this year’s 13th Check and Corbett payments to eligible retirees will not be made in November.  There will be an informational item presented to the SDCERS Business and Governance Committee on this topic at their upcoming November 1, 2012 meeting.  The agenda for that meeting and the supporting materials will be available October 29, 2012, on the SDCERS website.     Learn More...

SDCERS Membership Eligibility for City Employees Initially Hired on or After July 20, 2012

Date: Oct 03, 2012 Categories: Proposition B

San Diego voter-approved ballot initiative “Comprehensive Pension Reform” (Prop B) provides that, with the exception of sworn Police Officers, City employees initially hired on or after its effective date are not eligible for membership in SDCERS. Proposition B was chaptered and became effective on July 20, 2012.     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' Preliminary 2012 Investment Returns Are 0.3%

Date: Aug 14, 2012

The San Diego City Employees’ Retirement System reported preliminary investment returns of 0.3% for the fiscal year ending June 30, 2012.  The figure will be updated following receipt of private market performance data for the system’s real estate and private equity holdings. Learn More...

Information on Proposition B's Effect on Reciprocity

Date: Aug 01, 2012 Categories: Proposition B

In response to inquiries from Members regarding Proposition B's effect on reciprocity, SDCERS is posting these FAQs: 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...

Comprehensive Pension Reform Initiative - Prop B

Date: Apr 23, 2012 Categories: Proposition B

SDCERS is neither affiliated with nor involved in Proposition B. Below is a PDF of Proposition B for reference, and a link to a recent related "Latest News" item published on this website. 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...

At City's Request, Actuary Assists IBA in Preparing Cost Analysis of CPR Initiative

Date: Mar 20, 2012 Categories: Proposition B

The City’s Independent Budget Analyst requested SDCERS’ Actuary, Cheiron, to provide assistance in preparing a cost analysis of several key components of the Comprehensive Pension Reform (CPR) Initiative.  See the attached files for more details. Learn More...

For Deferred Members: Information on Upcoming Changes to Retiree Health Benefits

Date: Feb 08, 2012 Categories: Health

On February 6, 2012, SDCERS sent the following letter to Deferred Members providing important information about upcoming changes to the City of San Diego’s Retiree Health Benefits.  If you are a Deferred Member and want to determine your eligibility for retirement, please contact SDCERS’ Call Center at 619.525.3600 or review the attached letter and then log onto the SDCERS Member Portal and view your account to determine your current service credit.  Learn More...

Latest Actuarial Valuations Set For Discussion At January 20 Board Meeting

Date: Jan 13, 2012 Categories: Actuarial Valuations

SDCERS' actuary, Cheiron, will be presenting the June 30, 2011 Actuarial Valuations for the City, Port and Airport to the SDCERS Board at its regularly scheduled meeting on Friday, January 20 in the SDCERS Board Room. 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...

Ray Ellis Steps Down as Board President, with Herb Morgan Assuming Leadership Role

Date: Dec 16, 2011

SDCERS’ Board of Administration President Ray Ellis formally announced his resignation from the Board effective Friday, December 16.  Ellis cited his upcoming bid for the San Diego City Council’s District 1 seat next year as the reason for his resignation. Learn More...

Court Issues Ruling on SDCERS' Change of Venue Request for Substantially Equal Case

Date: Nov 15, 2011 Categories: Litigation

In an unpublished opinion filed on November 10, 2011, the Court of Appeals (Court) issued its ruling on SDCERS' Motion to Change Venue in the Substantially Equal Case. 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 Employees Vote In Favor of Changes To Retiree Health Benefits

Date: Sep 30, 2011 Categories: Health

City of San Diego employees who participated in the September retiree health benefits election voted in favor of the proposed changes, in an election conducted by SDCERS on behalf of the City. Out of nearly 9,000 Members who received the materials, 1,901 voted in favor of the proposed changes, while 119 voted in opposition. Learn More...

Eligible Retirees Will Receive 13th Check & Corbett Benefits for 2011

Date: Sep 30, 2011 Categories: Annual Supplemental Benefit & Corbett

At its September 30, 2011 Board meeting, SDCERS' Board of Administration authorized payment of the "13th Check" supplemental benefit and the Corbett Settlement benefit to eligible retirees. 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...

Retiree Health Benefits Election

Date: Sep 09, 2011

An election is underway to vote on certain changes to Retiree Health Benefits, proposed by the City of San Diego. The election takes place from Friday, September 9, through midnight on Friday, September 23, 2011. Learn More...

SDCERS' Preliminary 2011 Investment Returns are Highest Since 1987

Date: Aug 25, 2011 Categories: Investments, Press Release

The San Diego City Employees’ Retirement System reported a 23.8% return on investments for the fiscal year ending June 30, 2011, adding approximately $1 billion to the pension fund and resulting in its strongest performance since 1987. Learn More...

SDCERS' Commentary on Current Market Conditions

Date: Aug 11, 2011 Categories: Investments

In light of the market decline and volatility of the past few weeks, SDCERS’ Chief Investment Officer Liza Crisafi provided insight to questions regarding the effect on SDCERS’ investment strategy: Learn More...

Settlement Reached in Italiano Case; City Attorney Objects, Responds With Proposed Ordinance

Date: Jul 25, 2011

After significant deliberation, the SDCERS Board of Administration decided that it was in the best interest of the fund and its members to settle the Italiano/MEA legal case rather than incur potentially greater litigation costs and risk a jury verdict in favor of Ms. Italiano. This was a legal settlement, not a payment of a benefit to Ms. Italiano. Learn More...

SDCERS' Retiree Payroll Process Passes Emergency Preparedness Test

Date: Jul 11, 2011

No one likes to think about disasters and emergencies, but it is SDCERS' job to ensure retirees that they will receive their electronic pension payments, even in the event of an earthquake, fire or other disaster with the potential to interfere with our operations. Learn More...

Deadline Reminder for PSC Corrections

Date: Jun 30, 2011

The deadline for Active City Members who have already received their PSC Correction Options packet is Monday, July 11. This deadline to turn in form(s) was explained in a letter sent to all Active City Members on April 27, 2011.  To view that letter     Learn More...

SDCERS Receives Ruling Regarding PSC Contracts of Members in DROP prior to November 20, 2007

Date: Apr 28, 2011

On April 27, 2011, SDCERS received Judge Nevitt’s ruling concerning its request for clarification of the court’s order in the PSC Litigation.  In that clarification, Judge Nevitt ruled that SDCERS must correct affected contracts for those members who entered DROP before November 20, 2007 (click the link below to view the ruling).  Learn More...

Members with Affected PSC Contracts Who Entered DROP After Nov. 20, 2007 May Rescind Contracts

Date: Apr 14, 2011

In an April 11, 2011 letter, the City formally gave SDCERS the go-ahead to rescind any current DROP contracts of those members affected by the PSC litigation who entered DROP after November 20, 2007.  This will allow an Active DROP City employee with an affected PSC contract the option to work outside of their DROP period to rectify their PSC situation Learn More...

Update on Affected PSC Contracts of Active Members "Trapped in DROP"

Date: Apr 12, 2011 Categories: DROP, Litigation, Purchase of Service (PSC)

The City Attorney’s office initially assured SDCERS it would not object to SDCERS’ request of the court for a clarification order exempting from correction affected PSC contracts of those Members in DROP before November 20, 2007. On Monday, April 11, however, the City Attorney’s office instead filed with the court an opposition to SDCERS’ request (see PDF of Opposition, at the bottom of this page). Learn More...

Hearing Date Set For Decision Regarding Active DROP Members with Affected PSC Contracts

Date: Mar 22, 2011 Categories: Litigation, Purchase of Service (PSC)

A hearing has been set for April 22, 2011, regarding the matter of certain Active DROP Members with affected Purchase of Service Credit (PSC) contracts, related to the PSC Correction process. Learn More...

DROP Benefit Election Begins March 23, 2011

Date: Mar 18, 2011 Categories: DROP

Active City of San Diego employees have received benefit election materials in the mail to vote on proposed benefit changes to the City's Deferred Retirement Option Plan (DROP). Learn More...

Judge Grants Change of Venue Request for "Substantially Equal" case filed by City of San Diego

Date: Feb 10, 2011 Categories: Litigation

Superior Court Judge Joan M. Lewis has granted SDCERS' Motion for a Change of Venue to Los Angeles County, in the City of San Diego's lawsuit against SDCERS commonly referred to as the "substantially equal" case. The lawsuit seeks to include annual investment gains and losses in the calculation of employee and City contribution rates. However, since SDCERS' inception nearly 90 years ago, investment gains and losses have never been included in the calculation of employee contribution rates. Learn More...

Recent Actions on PSC Correction Process

Date: Jan 26, 2011

SDCERS recently received notification from the City, regarding City Council's decisions on proposed PSC correction options posed to the Council by SDCERS in November. Learn More...

Open Enrollment for City Retirees

Date: Jan 03, 2011 Categories: Health

Open Enrollment is June 6 through June 30, 2011. The Open Enrollment Home Page houses information related to Open Enrollment, as well as PDF files of the Open Enrollment booklet, related forms and other materials. Learn More...

DROP Interest Crediting Rate Change for 2011

Date: Dec 17, 2010 Categories: DROP

At its December 17, 2010 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, 2011. Learn More...

Eligible Retirees To Receive 13th Check & Corbett Benefits for 2010

Date: Nov 12, 2010 Categories: Annual Supplemental Benefit & Corbett

At its October 1 meeting, SDCERS' Board of Administration authorized payment of the "13th Check" supplemental benefit and the Corbett settlement benefit to eligible retirees. These retirees will receive the payment as part of their November 2010 monthly retirement benefit. Learn More...

SDCERS Accepting Nominations for Trustee Elections

Date: Oct 07, 2010

Nominating Petitions have been mailed to all General, Police Safety and Retired Members in preparation for upcoming elections for three seats on the SDCERS Board of Administration. Learn More...

Ad Hoc PSC Correction Committee Update

Date: Sep 17, 2010 Categories: Purchase of Service (PSC)

The PSC Correction Ad Hoc Committee held its second public meeting Thursday, September 16. The committee voted unanimously to approve SDCERS staff's recommendation to adopt a resolution outlining PSC correction options. This resolution will now be presented to the full Board of Administration for final approval at its October 1 meeting. Learn More...

PSC Ad Hoc Committee To Hold Additional Public Meeting

Date: Aug 20, 2010 Categories: Purchase of Service (PSC)

The PSC Correction Ad Hoc Committee will hold its next public meeting on Thursday, September 16, 2010 from 9:30 to 11:30 am at the Balboa Park Ballroom. See below for a map, as well as written directions, to the Balboa Park Club Learn More...

Court Ruling on Effective Date of 2005 Benefit Changes

A recent decision by the San Diego Superior Court has ruled that benefit changes made by the City in 2005 – but which were not codified by ordinance into the Municipal Code until 2007 – have a retroactive effective date back to July 1, 2005. (A PDF of the ruling is available at the end of this article) Learn More...

Contribution Rate Changes Implemented

Date: Jun 14, 2010 Categories: Contribution Rates

City of San Diego employees (excluding those in DROP) may notice a change in their August 20, 2010 paycheck. This change is due primarily to the delayed implementation by the City of San Diego of SDCERS' new contribution rates. The paycheck that employees receive on August 20, 2010 will have a single SDCERS contribution amount which will include the contribution for the August 20, 2010 paycheck and the catch-up correction for the paycheck that employees already received on August 6, 2010. If you have any questions about this, please contact your payroll specialist. 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 Responds to City's Lawsuit on "Substantially Equal" Contributions

Date: May 05, 2010 Categories: Litigation

On May 3, 2010, SDCERS received a Petition of Writ of Mandate from the City of San Diego requesting that the Superior Court of California command SDCERS to incorporate an equal share of investment losses into the calculation of City employee contributions. Learn More...

SDCERS Releases 2009 Annual Report

Date: Dec 29, 2009

SDCERS has released its 2009 Comprehensive Annual Financial Report (CAFR). The CAFR includes financial, investment, actuarial and statistical information about SDCERS and its financial results for the fiscal year ended June 30, 2009. Learn More...

DROP Interest Update

Date: Dec 11, 2009 Categories: DROP

On Thursday, December 17, SDCERS' Board of Administration approved staff's recommendation to lower the interest rate on DROP Participation Accounts from 3.54% to 2.9%, effective January 1, 2010. The DROP Annuity Rate will remain unchanged at 5%. 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...

SDCERS' CEO David Wescoe Resigns

Date: Nov 03, 2009

David B. Wescoe, SDCERS' Administrator and Chief Executive Officer, has informed the Board that he is resigning effective November 30, 2009 to join the Motion Picture Industry Pension and Health Plans as Executive Administrative Director. Click the links below to read SDCERS' press release, Wescoe's resignation letter and a press release from the Motion Picture Industry Pension & Health Plans. Learn More...

SDCERS Holds Annual Membership Meeting

Date: Sep 23, 2009 Categories: Events

SDCERS' Annual Membership Meeting was held in Balboa Park on September 22nd. The meeting included a review of SDCERS' accomplishments over the past year and an update on investment performance. For members who were unable to attend, text of the remarks presented, as well the PowerPoint presentation, are provided below. 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' Mark Hovey Earns CFO of the Year Award

Date: Jul 24, 2009 Categories: Press Release

SDCERS' Chief Financial Officer Mark Hovey recently earned the Government Agency CFO of the Year award from the San Diego Business Journal. The award was presented July 16th, at the 3rd annual CFO of the Year award program that recognizes financial professionals in San Diego for outstanding performance. Learn More...

Information Regarding Board's Hearing of Actuarial Implication of FY 2009 Investment Results

Date: Jul 20, 2009

At the July 17, 2009 Board meeting, SDCERS' Board of Administration discussed the actuarial implications of the fiscal year 2009 investment results. Learn More...

Annual Cost of Living Adjustment for eligible SDCERS retirees effective July 1, 2009

Date: Jul 01, 2009 Categories: COLA

A Cost of Living Adjustment (COLA) increase will be applied to the retirement benefits of eligible SDCERS retirees, effective July 1, 2009. Learn More...

SDCERS Responds to the City Attorney's DROP Memorandum

Date: Jun 03, 2009

David Wescoe, SDCERS' Administrator/CEO, responded to City Attorney Jan Goldsmith's June 1 Memorandum of Law regarding the City Attorney's new interpetation of San Diego City Charter section 143.1's requirement of a "majority vote of the members of said system," for approval of an ordinance amending the municipal code that affects member benefits. Learn More...

Deadline Reminder

Date: Jun 02, 2009

For members planning to service retire or retire from DROP by June 30, 2009:  SDCERS closes at 5 pm on June 30.   Learn More...

Message from SDCERS' former Board President

Date: Apr 01, 2009

Tom Hebrank, SDCERS' former Board of Administration President, completed his Board term in April after serving for nearly four years. The Board has elected Mark C. Sullivan as President and Raymond G. Ellis as Vice President, both for two-year terms. Learn More...

SDCERS Releases 2008 Annual Report

Date: Dec 30, 2008

SDCERS has released its 2008 Comprehensive Annual Financial Report (CAFR). The CAFR includes financial, investment, actuarial and statistical information about SDCERS and its financial results for the fiscal year ended June 30, 2008. Learn More...

David Wescoe Updates City Council on SDCERS

Date: Nov 19, 2008

On Wednesday, November 19th, SDCERS' CEO David Wescoe addressed the San Diego City Council, at its special joint meeting of the Committee on Budget and Finance, presenting an update on SDCERS. Click the documents below to read the presentation given at City Council, as well as the full written report and a letter to Mayor Jerry Sanders and Council President Scott Peters. Learn More...

Court of Appeal Dismisses City Attorney's Appeal in Pension Benefits Case

Date: Nov 13, 2008 Categories: Litigation

The California Court of Appeal, 4th Appellate District, Division 1, has dismissed the City Attorney's appeal in SDCERS vs. City of San Diego, Case No. GIC 841845. Click below to read the press release. Learn More...

Final Ruling on PSC Litigation

Date: Nov 13, 2008 Categories: Litigation, Purchase of Service (PSC)

The Court issued its final ruling on November 13, 2008. In it, the Court ordered the SDCERS Board to set aside the Board's November, 2007 decision to continue to amortize the PSC funding shortfall through the City's existing unfunded actuarial liability. Learn More...

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

Date: Nov 13, 2008 Categories: Annual Supplemental Benefit & 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...

SDCERS Commentary on Current Investment Climate

Date: Oct 13, 2008 Categories: Investments

The current turmoil in the global financial markets has impacted SDCERS’ investments just as it has every other institutional and individual investor. Learn More...

Status of 13th Check and Corbett Payment

Date: Sep 24, 2008 Categories: Annual Supplemental Benefit & Corbett

Each year, SDCERS' accounting staff prepares the detailed calculations to determine the 13th check and Corbett payment amounts in October, and forwards this information to the City Comptroller for review. Following that review, staff submits the payment authorization to the SDCERS Board for approval in November. After the review, SDCERS is able to communicate if payments can be made. Learn More...

Status of 13th Check and Corbett Payment

Date: Sep 24, 2008 Categories: Annual Supplemental Benefit & Corbett

Each year, SDCERS' accounting staff prepares the detailed calculations to determine the 13th check and Corbett payment amounts in October, and forwards this information to the City Comptroller for review. Following that review, staff submits the payment authorization to the SDCERS Board for approval in November. After the review, SDCERS is able to communicate if payments can be made. Learn More...

SDCERS Maintains Long-Term Investment Focus

Date: Sep 17, 2008 Categories: Investments, Press Release

Given recent events in the financial market, the SDCERS Board of Administration issued a press release to address concerns and emphasize its long-term investment strategy. 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...

SDCERS Receives Favorable Determination Letter from IRS

Date: Mar 17, 2008

The San Diego City Employees' Retirement System has received a favorable Determination Letter from the IRS that confirms the System's tax-qualified status. See full press release irs_tax_determination_letter_received_2_5_08.pdf   Learn More...