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SCERA Public Records Policy (PDF: 42k)
Posted January 20, 2011
Jerry Allen re-elected as Board of Retirement Trustee (PDF: 36k)
Posted December 21, 2011
SCERA Newsletter - Fall 2011 (PDF: 546k)
Posted November 2, 2011
Court Order Requires SCERA to Release Retiree Names and Benefit Amounts - September 15, 2011 (PDF: 23k)
Posted September 20, 2011
SCERA Fact Sheet and Educational Information on Public Pension Systems (PDF: 174k)
Posted June 28, 2011
SCERA Popular Annual Financial Report FY 12/31/10 (PAFR) (PDF: 1.11MB)
Posted June 28, 2011
SCERA Comprehensive Annual Financial Report FY 12/31/10 (CAFR) (PDF: 17MB)
Posted June 28, 2011
The Financial Market and Your Sonoma County Retirement
After the market downturn of 2008 and early 2009 we received some questions from members regarding the security of their retirement benefit in the Sonoma County Employees’ Retirement Association (SCERA). Your SCERA retirement benefit is secure as it is based on a set formula (age at retirement, years of service and highest one-year compensation) and has protections in the California State Constitution and County Employees Retirement Law. While investment performance is important in supporting the Plan’s funding, including ad-hoc Cost of Living Adjustments (COLAs), it does not have a direct impact on the amount of your retirement benefit. Retirement benefits are set based on plan formulas and Board-approved COLAs.
The recent market downturn impacts SCERA returns in the short-term, but SCERA employs a thoughtful long-term investment strategy that is set to meet the funding requirements of the Plan. The SCERA portfolio is invested in a well diversified mix of investment classes including categories within stocks (equities), bonds (fixed income) and real estate (commercial and agricultural). Over SCERA’s history we have experienced a number of significant up and down market cycles and this is likely to continue in the future. SCERA’s investment strategy does not change with short-term market movements. The investment strategy has a long-term time horizon and the portfolio is well-positioned to take advantage of a return to more normal market conditions.
The following graph was prepared by our investment consultant, Hewitt EnnisKnupp, to highlight the annual returns for the U.S. stock market from 1926 through 2010. You will note the significant variation in annual returns as the economy and stock markets go through periodic cycles. Over longer periods, however, stocks have provided solid returns superior to those of other investment classes.
As you observe the markets, keep in mind that the Plan continues to be well funded. SCERA, aware of the market environment, diligently monitors the portfolio and maintains a prudent investment strategy that has proven itself over the long-term.