San Diego County Basics

  • Established 1939
  • Currently open to new hires
  • Plan covers local employees
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, San Diego County, 2001-2019

Fiscal Year Net Assets (billions)
2001 3.8
2002 3.5
2003 4.1
2004 5.3
2005 6.1
2006 7.1
2007 8.3
2008 8.4
2009 6.2
2010 6.9
2011 8.2
2012 8.5
2013 9.1
2014 10.2
2015 10.3
2016 10.3
2017 11.4
2018 12.3
2019 12.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year San Diego County US State and Local Pensions
2001 1.9 2.5
2002 1.9 2.4
2003 1.8 2.3
2004 1.6 2.2
2005 1.5 2.1
2006 1.4 2.1
2007 1.4 2.0
2008 1.4 2.0
2009 1.3 1.9
2010 1.2 1.8
2011 1.1 1.7
2012 1.1 1.6
2013 1.1 1.5
2014 1.1 1.5
2015 1.0 1.5
2016 1.0 1.4
2017 1.0 1.4
2018 0.9 1.3
2019 0.9 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for San Diego County, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 0.3 0.4 5.0 0.7 0.7
2002 0.7 0.0 4.8 0.7 0.7
2003 0.7 0.0 5.7 0.7 0.7
2004 21.2 0.0 7.3 21.2 21.2
2005 28.2 0.0 9.0 25.5 25.5
2006 24.7 0.0 9.3 20.7 20.7
2007 24.3 0.0 10.0 22.0 22.0
2008 20.9 0.0 10.4 20.9 20.9
2009 19.5 0.0 10.2 19.5 19.5
2010 17.3 0.0 10.5 17.2 17.2
2011 21.6 0.0 12.5 18.9 18.9
2012 26.0 0.0 12.9 26.0 26.0
2013 29.2 0.0 13.9 27.9 27.9
2014 31.5 0.0 14.5 31.5 31.5
2015 33.2 0.0 14.9 33.2 33.2
2016 31.7 0.0 14.8 31.7 31.7
2017 33.4 0.0 15.1 33.4 33.4
2018 40.3 0.0 18.1 38.6 38.6
2019 39.2 0.0 18.8 38.1 38.1

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for San Diego County, 2001-2019

Fiscal Year San Diego County National Data
2001 106.8 106.5
2002 75.4 101.1
2003 75.5 94.2
2004 81.1 93.1
2005 80.3 91.1
2006 83.6 90.5
2007 89.7 91.2
2008 94.4 90.2
2009 91.5 83.2
2010 84.3 81.5
2011 81.5 80.4
2012 78.7 78.9
2013 79.0 78.7
2014 80.9 79.0
2015 80.5 78.2
2016 76.9 76.3
2017 77.4 76.4
2018 78.5 76.5
2019 76.3 76.1

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for San Diego County, 2019

Category Percent
Equities 47.2
Fixed Income 25.1
Private Equity 6.1
Real Estate 9.0
Cash 0.0
Other 0.0
Commodities 5.4
Hedge Fund 7.2
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for San Diego County, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 67.2 22.3 3.8 6.6 0.1 0.0 0.0 0.0 0.0
2002 66.1 22.2 4.0 7.7 0.0 0.0 0.0 0.0 0.0
2003 61.0 27.4 3.8 7.8 0.0 0.0 0.0 0.0 0.0
2004 62.1 28.5 3.5 5.7 0.0 0.2 0.0 0.0 0.0
2005 57.9 29.9 3.5 5.2 0.0 3.5 0.0 0.0 0.0
2006 52.5 30.7 3.3 6.2 1.3 1.4 4.6 0.0 0.0
2007 51.8 28.6 3.7 5.6 0.8 0.0 5.4 4.1 0.0
2008 43.9 33.9 4.2 7.3 0.0 0.0 6.0 4.8 0.0
2009 34.5 32.4 5.2 9.0 4.7 0.0 5.6 8.6 0.0
2010 20.1 25.6 5.4 9.5 7.2 5.2 5.1 21.9 0.0
2011 20.1 41.0 7.5 6.7 0.0 0.0 8.2 16.4 0.0
2012 19.2 39.2 8.0 8.8 0.0 0.0 8.8 16.0 0.0
2013 19.5 42.2 7.8 8.6 0.0 0.0 9.4 12.5 0.0
2014 21.0 22.0 9.0 10.0 3.0 0.0 11.0 24.0 0.0
2015 33.4 14.2 5.7 9.5 1.8 0.0 6.2 29.2 0.0
2016 44.0 25.0 8.0 10.0 0.0 0.0 6.0 7.0 0.0
2017 47.9 23.5 7.7 8.3 0.0 0.0 6.7 5.9 0.0
2018 45.8 24.2 6.7 8.8 0.0 0.0 6.4 8.1 0.0
2019 47.2 25.1 6.1 9.0 0.0 0.0 5.4 7.2 0.0

Source: Public Plans Database


Annual Return as of June 30 for San Diego County, 2001-2019

Fiscal Year San Diego County Assumed return
2001 -8.40 8.25
2002 -4.57 8.25
2003 3.72 8.25
2004 21.27 8.25
2005 13.91 8.25
2006 14.68 8.25
2007 15.40 8.25
2008 0.70 8.25
2009 -24.40 8.25
2010 13.00 8.00
2011 20.70 8.00
2012 5.89 8.00
2013 7.73 7.75
2014 13.44 7.75
2015 2.68 7.50
2016 0.45 7.25
2017 12.00 7.25
2018 7.90 7.25
2019 5.50 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
San Diego County
2001-2019

Fiscal Year Cash Flow Assets
2001 -110.9 3,816.9
2002 -118.5 3,533.6
2003 419.8 4,103.3
2004 457.2 5,262.5
2005 51.8 6,142.3
2006 26.1 7,113.6
2007 -12.0 8,260.8
2008 -31.2 8,389.8
2009 -71.8 6,179.8
2010 -139.8 6,868.9
2011 -127.4 8,176.8
2012 -116.0 8,515.4
2013 -125.1 9,060.2
2014 -99.8 10,180.7
2015 -92.9 10,330.3
2016 -132.6 10,261.3
2017 -112.5 11,397.1
2018 -38.2 12,274.5
2019 -79.1 12,862.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
San Diego County
2001-2019

Fiscal Year San Diego County National Average
2001 -2.9 -2.3
2002 -3.4 -2.3
2003 10.2 -2.6
2004 8.7 -1.7
2005 0.8 -1.9
2006 0.4 -1.9
2007 -0.1 -1.7
2008 -0.4 -1.9
2009 -1.2 -2.7
2010 -2.0 -2.9
2011 -1.6 -2.8
2012 -1.4 -3.1
2013 -1.4 -3.0
2014 -1.0 -2.7
2015 -0.9 -2.8
2016 -1.3 -3.0
2017 -1.0 -2.9
2018 -0.3 -2.4
2019 -0.6 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for San Diego County benefit descriptions.