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.   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%. 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.   More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2018

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

At its November 9, 2018 meeting, the SDCERS' Board of Administration approved the payment of the "13th Check" supplemental benefit and the Corbett settlement benefit for eligible retirees. Eligible retirees will receive the payment as part of their November 2018 monthly retirement benefit. The "13th Check" and Corbett settlement benefits are paid in years when the realized investment earnings of the fund are sufficient to pay them.   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. 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). 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.   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.    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.   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. 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 Monday through Friday, 6:30 a.m. to 5:00 p.m. PST. Click here for additional information. 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. 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%   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. 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. More...

    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
  • News
website survey
    • Website Survey