Positive Funding News in SCERA Actuarial Valuation
On May 7, 2015, the SCERA Retirement Board adopted the SCERA Actuarial Valuation and Review as of December 31, 2014 presented by its actuary, The Segal Company. There were many highlights in the valuation; chief among them is that the funded ratio of the plan, improved from 81.8% to 86.3% on an actuarial basis (from 90.1% to 91.4% on a market value basis). This is a reflection of the fact that the unfunded liability of the plan decreased from $449.4 million the prior year to $343.0 million as of December 31, 2014. A key factor in the reduction in unfunded liability is higher than expected investment return over the last five years.
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