Investments

Investments

Overview

The Fund

The San Bernardino County Employees’ Retirement Association (SBCERA) is an independent, multiple-employer, defined benefit plan with more than $10 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 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 Popular Annual Financial Report (PAFR).

Overview

Financial Reports

SBCERA’s financial reports provide in-depth financial, investment, actuarial, and statistical information. The reports are prepared in accordance with accounting principles set forth by the Governmental Accounting Standards Board (GASB).

Notification

Coronavirus Updates

Our office is currently closed to the public, but we're working and available to assist you. Pension payments are on schedule and we are processing retirements. Visit our coronavirus (COVID-19) resource page for more information.

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