SDCERS Releases FY 2013 Comprehensive Annual Financial Report

Date: Dec 10, 2013

 

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.
The CAFR includes financial investment, actuarial and statistical information about the system’s financial health and reports the financial results for the year ended June 30, 2013. The CAFR provides valuable insight into how effectively the SDCERS’ Board of Administration and staff manage system finances in order to pay vested benefits to its 20,450 members.

According to the CAFR, SDCERS’ successful year end investment returns total 13.6 percent for FY 2013, up from 0.9 percent in FY 2012. As of June 30, 2013, SDCERS’ annualized total investment return (net of fees) was 12.5 percent over the past three years and 5.5 percent for the past five years. Over the past 10 years, SDCERS investment returns were 8.1 percent – in the top eight percent for public pension plans.

The Government Financial Officers Association (GFOA) last year awarded the Certificate of Achievement for Excellence in Financial Reporting to SDCERS for last year’s FY 2012 Comprehensive Annual Financial Report (CAFR). The award is the highest form of recognition in the area of governmental accounting and financial reporting and represents a significant accomplishment by a government agency and its management. It was the 5th consecutive year SDCERS received the recognition. SDCERS will be submitting the FY 2013 CAFR for GFOA's consideration later this month. SDCERS’ award-winning 2012 CAFR is available online here. Copies of previous award-winning CAFRs can be reviewed here.

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 20,450 members. As of September 30, 2013, SDCERS had approximately $6.3 billion in net investments.

 




Document Under Categories: Comprehensive Annual Financial Report (CAFR)

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