Published: February 3, 2014
Plan returns for 2013 have been reported and SCERA's portfolio delivered an investment return (before fees) of 20.0% which was 2.44% above the target benchmark return. Annualized investment returns for 10 and 20 years are now 7.2% and 8.0%, respectively. The Plan ended 2013 with a market value of $2.28 billion, up approximately $340 million from the 2012 year-end market value of $1.94 billion. 2013 was a very good year for the fund’s investment program. Still, it will take a number of years of significantly positive performance for the fund to fully recover from the 2008 Great Recession. We are certainly headed in the right direction. The Board of Retirement is very aware that there have been several years without a COLA and is working hard to continue to grow the fund prudently.