News For -

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.   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. 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.​ 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. 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. 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.    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. 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.  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. 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.  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.  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. 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.   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.   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. More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2016

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

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

Annual Membership Meeting

Date: Sep 29, 2016 Categories: Press Release

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

SDCERS Board Approves 13th Check and Corbett Benefits for 2015

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

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

SDCERS Board Approves 13th Check and Corbett Benefits for 2014

Date: Nov 14, 2014 Categories: 13th Check and 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. 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. 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. 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.   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. 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. 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. 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.   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. 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. More...

Summer 2014 Edition of the SDCERS Scoop is Now Available

Date: Sep 08, 2014 Categories: Newsletter

The summer 2014 edition of the SDCERS Scoop is now available. 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. 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. 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   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.   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. 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. 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. 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. 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.   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.” 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. 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.  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). 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. 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. 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. 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. 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). 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. 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. 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. 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. 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.    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. 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. 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). 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.  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. 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. 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. 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. 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. 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. 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. 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. 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. 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. More...

SDCERS Board Approves 13th Check and Corbett Benefits for 2013

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

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

Save the Date for SDCERS' Annual Membership Meeting

Date: Sep 05, 2013 Categories: Events

Save the Date for SDCERS' Annual Membership Meeting 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%. 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.  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. 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. 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.   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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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.  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. 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. 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. 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. 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. 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 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. 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. 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. 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.  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. 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. 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. 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. 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). 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. 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. 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. 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. 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. More...

13th Check and Corbett for 2012

Date: Oct 11, 2012 Categories: 13th Check and 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.     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.     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. 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. 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: 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. 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. 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. 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.   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. 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.  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. 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. 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. 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. 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. More...

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

Date: Sep 30, 2011 Categories: 13th Check and 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. 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. 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. 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. 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. 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: 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. 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. 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     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).  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 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). 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. 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). 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. 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. 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. 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. More...

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

Date: Nov 12, 2010 Categories: 13th Check and 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. 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. 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. 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 More...

Court Ruling on Effective Date of 2005 Benefit Changes

Date: Jul 22, 2010 Categories: 13th Check and Corbett, DROP, Health, Purchase of Service (PSC)

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) 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. 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. 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. 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. 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. 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%. 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. 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. 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. 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. 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. 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. 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. 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. 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.   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. 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. 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. 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. 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. More...

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

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

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

Status of 13th Check and Corbett Payment

Date: Sep 24, 2008

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. More...

Status of 13th Check and Corbett Payment

Date: Sep 24, 2008 Categories: 13th Check and 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. 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. 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. 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   More...

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