The Fund
The San Bernardino County Employees’ Retirement Association
(SBCERA) is an independent, multiple-employer, defined benefit
plan with more than $13.5 billion in assets. SBCERA’s fund
is highly diversified and invested with a focus on the long term.
Our proactive strategy helps SBCERA provide retirement security
to our members now and well into the future.
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 7.25% 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 the aforementioned 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 designed 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.
Contribution rates are determined by an Actuarial Valuation and
Review referenced below.
Annual Investment & Financial Reports
SBCERA creates a Annual
Comprehensive Financial Report 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 Popular
Annual Financial Report.
