San Diego City Employees logs 24.9% return
The San Diego City Employees’ Retirement System (SDCERS) has reported a return of 24.9 percent for fiscal year 2021.
The end-of-fiscal-year total reflects a net increase of about $2 billion since June 30, 2020. SDCERS’ average rate of return during the past 20 years is 7.8 percent, and it is 9.1 percent since its inception.
SDCERS said its 24.9 percent return outperformed its 6.5 percent actuarial rate of return, indicating that the pension fund is maintaining its long-term investment strategy, and also outperformed its benchmark, which had a 24.4 percent return.
As of June 30, the pension fund’s assets totaled more than $10 billion, SDCERS’ highest level in history.