Investments & Finance

The Fund

SBCERA is an award-winning, defined benefit plan with more than $8 billion in assets. SBCERA's fund is highly diversified and invested with a focus on the long term.

The investments of the plan are managed by the Board of Retirement in accordance with the Board-approved Investment Plan, Policy and Guidelines. The Board adheres to a disciplined investment process that seeks to meet or exceed the policy benchmark and the plan’s 7.5% actuarial assumed rate of return over the long term. SBCERA’s professional investment team and independent, third party investment consultants assist in overseeing plan assets and executing this policy.

Asset Allocation

SBCERA has built a well diversified portfolio with a focus on income to reach its investment goals. The Fund’s assets are dynamically managed and strategically allocated among different asset classes that are expected to best meet the assumed rate of return at the lowest overall level of risk. The Fund’s asset allocation is reviewed each year and adjusted as needed.

Contributions to SBCERA

Defined benefit plans, like SBCERA, are funded with employee contributions, employer contributions and investment earnings. SBCERA members and participating employers contribute to the fund. The contribution rates are determined each year. At SBCERA, approximately 70 percent of all benefit payments are funded with investment earnings.

Annual Investment & Financial Reports

SBCERA creates a Comprehensive Annual Financial Report (CAFR) to report all financial, investment, actuarial and statistical information about the plan each fiscal year. In addition, SBCERA contracts with an independent actuarial consulting firm to perform an annual Actuarial Valuation and Review. The Actuarial Valuation and Review is an in-depth analysis of the pension fund. Member and employer contribution rates are set each year based on the Actuarial Valuation and Review. Key data from these reports can be found in the SBCERA Snapshot.

Business Opportunities with SBCERA

SBCERA may issue Requests for Proposals (RFP) when seeking new business partners for professional services. If you are interested in learning about these opportunities, you can sign up to receive email alerts when an RFP has been posted online.