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Mary Ball
619.218.8259
mball@sdcera.org

 
   
 
News & Media

SDCERA Reports Preliminary Investment Returns for Fiscal Year 2021
July 2021

The San Diego County Employees Retirement Association (SDCERA) reported a preliminary investment return of 25.0 percent for the fiscal year ended June 30, 2021 (FY 2021). As of June 30, 2021, SDCERA's assets under management (AUM) were $16.2 billion.

Based on FY 2021's preliminary return of 25.0 percent, SDCERA's estimated three-year investment return would be 10.1 percent, the five-year return would be 10.0 percent, and the 10-year return would be 7.9 percent, all as of June 30, 2021. These preliminary and estimated investment returns are annualized and net of fees.

SDCERA's final FY 2021 investment return data is expected to be reported in September.

Lisa Rhone Elected to Board of Retirement
February 2021

The San Diego County Employee Retirement Association announced today that Lisa Rhone has won the election to fill the Second (General) Member seat on the Board of Retirement. The Board of Supervisors is expected to declare Ms. Rhone the winner during their March 2, 2021 meeting. Ms. Rhone will be sworn in during the next meeting of the Board of Retirement. Ms. Rhone was elected to a vacant seat with a term that expires on June 30, 2023.

Annual Notice on Tax Withholding
January 2021

SDCERA is required to provide Members and their beneficiaries with information about their right to change tax elections annually. This notice can be found here.

Board Approves Cost-of-Living Adjustment (COLA) for Retired Members
January 2021

At its January 21 meeting, SDCERA's Board of Retirement approved a 1.5% cost-of-living adjustment (COLA) for Retired Members, effective April 1, 2021.

The 2021 COLA is based on the Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Diego-Carlsbad area. The actual COLA a retiree receives depends on their Tier and retirement date. For a complete list of COLA rates by Tier and retirement date, please click here. Members must be retired no later than March 31, 2021 to be eligible to receive the 2021 COLA.

Alameda Case Update
January 2021

On July 30, 2020, the California Supreme Court upheld changes to the definition of "compensation earnable" enacted by the California Legislature as part of the Public Employees' Pension Reform Act of 2013. Compensation earnable is the legal term for compensation that is used to calculate SDCERA pension benefits for Tier I, Tier A and Tier B members.

As a result of the decision in Alameda County Deputy Sheriffs Association v Alameda County Employees Retirement Association ("Alameda"), SDCERA and the County of San Diego undertook a review of all compensation considered compensation earnable, or pensionable. Based on that review, SDCERA's Board of Retirement has determined that three earn codes previously considered pensionable are recognition awards that are properly excludable from the definition of compensation earnable and will be excluded as of January 29, 2021.

For more information, please click here.

SDCERA Board Appoints New CEO
October 2020
Tracy Sandoval

The SDCERA Board of Retirement appointed Tracy Sandoval to become Chief Executive Officer of the San Diego County Employees Retirement Association.

"After conducting a nationwide search which attracted over 80 applicants, Tracy was the Board's unanimous choice to be SDCERA's Chief Executive Officer. Her management skills, experience and financial acumen made her the Board's top choice." said Board Chair Richard Tartre.

With more than two decades of accomplishment in leadership roles within the County of San Diego, Ms. Sandoval currently serves as the Assistant Chief Administrative Officer. In her previous role as the County's Chief Financial Officer, she was responsible for managing the County's $6.5 billion annual budget.

SDCERA's Press Release:  SDCERA Board Appoints New CEO

Chief Investment Officer Stephen Sexauer Appointed Interim CEO
April 2020

Today, the SDCERA Board of Retirement appointed Stephen Sexauer to become Interim Chief Executive Officer of the San Diego County Employees Retirement Association, effective May 1.

"Steve was the Board's first and only choice to be SDCERA's interim CEO. He is trusted by the Board, incredibly capable and able to provide stability for the staff through this transition," said Board Chair Samantha Begovich.

SDCERA CEO David Wescoe said, "Steve is not only the best CIO in the country, he is also an experienced manager with great strategic and operational skills. He will be a great leader for SDCERA."

SDCERA's Press Release:  Chief Investment Officer Stephen Sexauer Appointed Interim CEO

SDCERA Chief Executive Officer David Wescoe Announces His Departure
April 2020

At the April 16, 2020 SDCERA Board of Retirement meeting, Chief Executive Officer David Wescoe announced he has accepted a private sector job opportunity and will be leaving on April 30.

Wescoe told the Board that:

"Given all of SDCERA's organizational accomplishments during the past five years, I have been considering for some time accepting another challenge. And, there is nothing like the COVID-19 pandemic to accelerate that focus."

SDCERA's Press Release:  SDCERA Chief Executive Officer David Wescoe Announces His Departure

Trustee Richard Vortmann Resigns from SDCERA Board of Retirement
March 2020

Richard Vortmann resigned today as a Trustee of the San Diego County Employees Retirement Association's Board of Retirement.

Mr. Vortmann first was appointed to the SDCERA Board by the County of San Diego Board of Supervisors in 2010.

Mr. Vortmann said, "This has been a while coming, but it is the appropriate time to 'retire' now. All good things must come to an end sometime and new blood with new ideas is always beneficial. I truly enjoyed my service with SDCERA and all the great folks whom I was privileged to have worked with. It was an excellent experience.''

SDCERA's Press Release:  Trustee Richard Vortmann Resigns from SDCERA Board of Retirement

SDCERA Reports Final Investment Returns for Fiscal Year 2019
September 2019

The San Diego County Employees Retirement Association (SDCERA) reported an investment return of 5.5 percent for the fiscal year ended June 30, 2019 (FY 2019). As of June 30, 2019, SDCERA's assets under management (AUM) totaled $12.9 billion, an all-time high.

Based on FY 2019's final return of 5.5 percent, SDCERA's three-year investment return is 8.4 percent, the five-year return is 5.6 percent, and the 10-year return is 8.8 percent, all as of June 30, 2019. These investment returns are annualized and net of fees.

SDCERA's Press Release:  SDCERA Reports Final Investment Returns for Fiscal Year 2019

SDCERA Reports Preliminary Investment Returns for Fiscal Year 2019
July 2019

The San Diego County Employees Retirement Association (SDCERA) reported a preliminary investment return of 5.5 percent for the fiscal year ended June 30, 2019 (FY 2019). As of June 30, 2019, SDCERA's assets under management (AUM) were $12.9 billion, an all-time high.

SDCERA's Press Release:  SDCERA Reports Preliminary Investment Returns for Fiscal Year 2019

Mark Hovey Appointed to SDCERA Board of Retirement
June 2019

On June 25, the San Diego County Board of Supervisors voted unanimously to appoint Mark Hovey to the SDCERA Board of Retirement for a three-year term, beginning July 1, 2019. Hovey fills the appointed seat vacated by Mark Oemcke, who served two terms on the Board. Since 2018, Mr. Hovey has served as an independent public member on SDCERA's Audit Committee.

SDCERA's Press Release:  Mark Hovey Appointed to SDCERA Board of Retirement

SDCERA Board of Retirement Adopts Actuarial Assumption Changes
April 2019

The San Diego County Employees Retirement Association (SDCERA) Board of Retirement voted today, upon the recommendation of Segal Consulting, the Board's independent actuary, to adopt changes to certain demographic and economic actuarial assumptions.

SDCERA's Press Release:  SDCERA Board of Retirement Adopts Actuarial Assumption Changes