KCERA at a Glance

The following information is current as of June 30, 2017, unless otherwise noted.

Membership

  • Active: 8,922
    • General: 7,151
    • Safety: 1,771
  • Deferred: 1,359
  • Retired: 8,296

Benefit Tiers

  • General Tier I: “3% at age 60”
  • General Tier II: “1.62% at age 65”
  • General Tier III*: “2.5% at age 67”
  • Safety Tier I: “3% at age 50”
  • Safety Tier II: “2% at age 50”

* Only applies to West Side Recreation and Park District

Plan Sponsors & Membership Totals

  • County of Kern: 6,589
  • Berrenda Mesa Water District: 4
  • Buttonwillow Recreation & Park District: 2
  • East Kern Cemetery District: 2
  • Inyokern Community Services District: 0
  • Kern County Hospital Authority: 1,446
  • Kern County Superior Court: 483
  • Kern County Water Agency: 59
  • Kern Mosquito and Vector Control District: 19
  • North of the River Sanitation District: 18
  • San Joaquin Valley Unified Air Pollution Control District: 275
  • Shafter Recreation and Park District: 3
  • West Side Cemetery District: 6
  • West Side Mosquito & Vector Control District: 8
  • West Side Recreation and Park District: 8

Investment Assets

  • $4.2 billion
  • Asset Allocations (Policy):
    • Domestic Equity: 19%
    • International Equity: 18%
    • Fixed Income: 29%
    • Hedge Funds: 10%
    • Commodities: 4%
    • Private Equity: 5%
    • Real Estate: 10%
    • Private Credit: 5%
    • Cash and Equivalents: 0%

Investment Rates of Return (net of fees)

  • FY 2018: 6.5%
  • FY 2017: 11.8%
  • FY 2016: -0.5%
  • FY 2015: 2.4%
  • FY 2014: 15.0%
  • FY 2013: 10.4%
  • FY 2012: 1.0%
  • FY 2011: 19.2%
  • FY 2010: 13.3%

Actuarial Assumed Rate of Return

  • 7.25% (as of July 2017)

Funded Ratios

  • FY 2018: 65.1%
  • FY 2017: 63.2%
  • FY 2016: 63.4%
  • FY 2015: 62.4%
  • FY 2014: 60.8%
  • FY 2013: 61.1%
  • FY 2012: 60.5%
  • FY 2011: 60.8%
  • FY 2010: 62.7%

Pension Benefits Paid to Retirees

  • FY 2018: $304.8 million
  • FY 2017: $288.8 million
  • FY 2016: $272.3 million
  • FY 2015: $257.2 million
  • FY 2014: $241.5 million
  • FY 2013: $226.6 million
  • FY 2012: $207.3 million
  • FY 2011: $186.5 million
  • FY 2010: $166.8 million

Average Monthly Retirement Benefits

  • FY 2018: $3,062
  • FY 2017: $2,975
  • FY 2016: $2,900
  • FY 2015: $2,829
  • FY 2014: $2,734
  • FY 2013: $2,721
  • FY 2012: $2,584
  • FY 2011: $2,438
  • FY 2010: $2,314

Employer Contributions

  • FY 2018: $258.9 million
  • FY 2017: $241.1 million
  • FY 2016: $234.7 million
  • FY 2015: $215.5 million
  • FY 2014: $220.4 million
  • FY 2013: $211.7 million
  • FY 2012: $189.8 million
  • FY 2011: $177.4 million
  • FY 2010: $151.1 million

Employee Contributions

  • FY 2018: $36.1 million
  • FY 2017: $34.6 million
  • FY 2016: $33.3 million
  • FY 2015: $30.3 million
  • FY 2014: $25.8 million
  • FY 2013: $20.3 million
  • FY 2012: $18.7 million
  • FY 2011: $18.3 million
  • FY 2010: $17.9 million

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