The San Diego County Employees Retirement Association reported an all-time high of $10.1 billion in assets for the latest fiscal year, adding 13.43 percent to the pension fund’s value over the period.
The return for the fiscal year ended June 30 is well over the 7.75 percent rate needed to pay benefits to retirees. The extra return will help reduce some of the plan’s unfunded liability
“A record ten billion dollars in assets under management is exciting for SDCERA, especially as we celebrate our 75th year in providing retirement security for thousands of individuals,” said Brian White, chief executive officer.
“SDCERA’s long-term investment perspective has benefitted members. The fund has withstood turbulent market conditions over long periods of time, generating a 25-year return of 9.43%, well above the investment returns needed to fund the benefit during that time frame.”
SDCERA’s three-year and five-year estimated gross returns were 9.48 percent and 12.67 percent, respectively, for the periods tended June 30.
