Newspaper Article Does Not Involve COUNTY Retirement Benefits
The July 19th article in the Sacramento Bee regarding the over-payment and under-payment of pension benefits does NOT involve the Sacramento County Employees' Retirement System and its retirees and beneficiaries. The article concerns the Sacramento CITY Employees Retirement System, which has no connection to the County employee retirement system.
While the two systems use the same acronym -- SCERS -- the County employee retirement system is a completely different entity. The County employee retirement system is an $8 billion pension trust managed by a 47 person professional staff and overseen by an independent Retirement Board. The County employee retirement system serves more than 25,000 active employees, retirees and beneficiaries from the County of Sacramento and nine other participating employers. The City of Sacramento is not one of those participating employers.
It is unfortunate that the newspaper article failed to clarify that the SCERS being discussed was not the much larger COUNTY retirement system. No retirement or other benefits paid by the COUNTY retirement system are impacted by the issues described in the article.
If you have any questions about your COUNTY retirement benefits please call (916) 874-9119.
The SCERS Board of Directors initiated a strategic planning process to make sure that SCERS can sustain and build upon the success it has been able to achieve in keeping retirement benefits secure with manageable cost. Work has begun on implementing strategic initiatives designed to provide the highest level of quality and professionalism in meeting SCERS’ duties to its members, retirees and beneficiaries, participating employers, and other stakeholders in an environment of increasing investment and operational complexity. Review SCERS’ key goals for the next five years in the following critical areas:
• Funding Policies and Practices
• Investment Program
• Service Delivery
• Fiscal Responsibility
• Risk Management
• Aligning Authority with Responsibility
Check back for updates on implementation of these strategic initiatives.
Request for Proposals Issued for Pension Administration and Financial Systems Consulting Services
SCERS has issued a Request for Proposals (RFP) for Pension Administration and Financial Systems Consulting Services. Please view the RFP here. Please view the addendum to the RFP here.
Sacramento County Retirement System Recognized for Investment Management Excellence
The international financial publication Chief Investment Officer announced that the Sacramento County Employees’ Retirement System (SCERS) has been named the 2014 Industry Innovation Award winner in the category of public pension funds with up to $15 billion in assets.
Pictured from left: Deputy Chief Investment Officer Steve Davis,
Chief Investment Officer Scott Chan, and Chief Executive Officer Richard Stensrud
• SCERS Nominated for aiCIO’s 2014 Industry Innovation Award for Pension Plans with Under $15 billion in Assets
• SCERS Recognized for Investment Management Success
• SCERS Chief Investment Officer Recognized by Investment Industry
• SCERS' Stakeholders Benefit from Strong Investment Performance
• SCERS Nominated for aiCIO’s 2013 Industry Innovation Award for Pension Plans with Under $15 billion in Assets