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SDCERS’ 2026 Annual Membership Meeting – You’re Invited!

October 6, 2026

SDCERS’ 2026 Annual Membership Meeting will take place in person on October 26th at the Balboa Park Club Santa Fe Room.

(Note: This meeting will take place at the same time as SDPEBA’s City Retiree Health Fair – while the Health Fair is for City retirees only, SDCERS’ Annual Meeting is open to all members.)

The theme of the meeting is: “Your Future Security Is Our Present Focus.” Join us for informative presentations addressing your retirement system administrator and learn about the security of your future pension benefits! The presenters will include SDCERS’ CEO, Gregg Rademacher; SDCERS’ Chief Investment Officer, Carina Coleman; SDCERS’ Benefits Administration Director, Sandra Claussen; and SDCERS’ Director of Member Services, Natasha Collura.

SDCERS’ 2026 ANNUAL MEMBERSHIP MEETING More Than a Pension - A Promise. Location: Balboa Park Club Santa Fe Room Date: Monday, October 26, 2026 at 11:15a.m. - noon PST All Members: Join us to learn more about your benefits, SDCERS’ investments, and the security of your retirement system. This year’s Annual Membership Meeting will be held from 11:15a.m. to 12:00 p.m. (PST) on Monday, October 26, 2026. You are invited to attend in person, but you may also view a video of the meeting afterward, which will be added to SDCERS’ YouTube channel.

Directions: Balboa Park Club Santa Fe Room, 2144 Pan American Road West. Enter Balboa Park from Park Boulevard and turn west on Presidents Way. The Santa Fe Room is located in the South Palisades area of the park, just north of Puppet Theater and to the left of the Club Ballroom’s entrance.

All stakeholders are invited to attend, and no RSVP or registration is required. The meeting will also be video recorded and uploaded to our YouTube channel as soon as it is available. We hope to see you all at this year’s meeting!

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SDCERS’ Final Investment Return for Fiscal Year 2026

September 11, 2026

At today’s Board meeting, SDCERS reported a net return of 14.2% for Fiscal Year 2026. As of June 30, 2026, the trust fund’s assets totaled approximately $13.9 billion. SDCERS’ annualized rate of return over the past 10 years is 8.7% net, and its return since inception (1988) is 8.8% net.

SDCERS’ net return for Fiscal Year 2026 of 14.2% was higher than its assumed rate of return (6.5%), and just below the policy benchmark, which posted a 14.3% return for the year. The policy benchmark is a measure of how the Total Fund would have performed if the actively managed public portions of the portfolio had been completely invested in passive index funds, and if the private portions of the portfolio achieved stated benchmark returns.

Over the course of the Fiscal Year, the portfolio benefitted from outperformance in the Non-U.S. Equity, U.S. Fixed Income, Infrastructure, and Private Debt portfolios. This was offset by underperformance in the Private Equity, U.S. Equity, and Real Estate portfolios. The portfolio performed well, with every asset class generating positive absolute returns over the Fiscal Year. Public Equities and the Diversifying portfolio performed particularly well on an absolute basis, achieving double-digit returns over the year.

Performance can also be measured by comparing returns of other public pension plans, though it is important to remember that different plans have different investment goals, which impact their asset allocations and portfolio structure. SDCERS compares very favorably against its peers over longer time periods – posting risk-adjusted returns in the top 19% of its peer universe of similarly-sized public pension plans over the most recent 10-year period ending June 30, 2026.

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