General Member Board of Retirement Seat Up for Election
An election will be conducted in May 2016 for the General Member representative (Third Seat) on the SDCERA Board of Retirement. The Board of Retirement is SDCERA’s governing body, responsible for the administration of benefits and investment of the retirement Trust Fund.
Any active SDCERA General Member is eligible to run for the seat. Beginning March 4, 2016, candidates may request a nomination packet from the Registrar of Voters (ROV) that includes a nominating petition that must be signed by at least 40 General Members who are active employees as of April 1, 2016. Candidates must submit the nominating petition and a candidate statement to the ROV office, located at the County Operations Center, no later than 5:00 p.m. on April 1, 2016.
Ballots will be distributed to active General Members’ County mail stops beginning on April 19, and the ROV must receive your vote by 5:00 p.m. on May 3.
The elected candidate will serve a three-year term beginning July 1, 2016.
In 2015, the SDCERA Board voted to change from an outsourced portfolio strategist investment model to an in-house investment program led by Chief Investment Officer Steve Sexauer. Steve and his team moved the management of $5 billion of SDCERA assets from the outsourced portfolio strategist to other investment managers. This transition involved moves from 1,400 different market positions on 15 worldwide exchanges. Read the report from an independent consulting firm that provides additional detail on the transition.
SDCERA Announces Adoption of Investment Policy Statement and Asset Allocation
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) today announced that the Board of Retirement has adopted a new Investment Policy Statement (IPS) that defines investment objectives and governance. The six-chapter IPS describes the investment philosophy and strategies that will guide SDCERA Trust Fund objectives and contains specific information on subjects such as risk tolerance and liquidity requirements.
SDCERA reports final investment returns and assets under management for Fiscal Year 2015
SAN DIEGO — The San Diego County Employees Retirement Association (SDCERA) reported a final net investment return of 2.68 percent for the fiscal year ending June 30, 2015. SDCERA’s three-year net investment return was 7.86 percent, the five-year return was 9.90 percent, and the 10-year return was 6.08 percent. As of June 30, 2015, the fund has generated a 25-year return of 8.43 percent. SDCERA’s assets under management (AUM) as of June 30, 2015 were $10.3 billion.
SDCERA CEO David Wescoe discusses recent media articles
This is my first message to SDCERA’s members and beneficiaries, and I want you all to know how honored and privileged I am to be the Chief Executive Officer of your retirement association. Read more in SDCERA's For the Record: SDCERA CEO David Wescoe discusses recent media articles.
SDCERA hires David Wescoe as Chief Executive Officer
SAN DIEGO —The San Diego County Employees Retirement Association (SDCERA) announced today the hiring of David Wescoe as Chief Executive Officer (CEO) of the $10.6 billion public pension fund. Wescoe will begin his full-time duties on September 18.
“After a thorough and comprehensive national search process, the Board of Retirement is very pleased to have found the best individual to assume leadership of this organization,” said Board of Retirement Chair Skip Murphy. “We are very fortunate to have a proven leader in David, with demonstrated readiness to lead SDCERA. He has made important contributions to SDCERA’s success during his time as Interim CEO, and the Board has complete confidence in his ability to lead SDCERA successfully into the future.”
An experienced legal, financial, operations and investment professional who has served as CEO, CFO, and General Counsel with public and private companies, including two multibillion-dollar pension plans, Wescoe has served as SDCERA’s Interim CEO since April 2015.