KCERA at a Glance
The following information is current as of June 30, 2021, unless otherwise noted.
Membership
- Active: 9,072 (General: 7,382 + Safety: 1,690)
- Deferred: 2,810
- Retired: 8,835
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: 6,581
- Berrenda Mesa Water District: 3
- Buttonwillow Recreation & Park District: 1
- East Kern Cemetery District: 2
- Inyokern Community Services District: 0
- Kern County Hospital Authority: 1,605
- Kern County Superior Court: 477
- Kern County Water Agency: 51
- Kern Mosquito and Vector Control District: 21
- North of the River Sanitation District: 17
- San Joaquin Valley Unified Air Pollution Control District: 296
- Shafter Recreation and Park District: 4
- West Side Cemetery District: 4
- West Side Mosquito & Vector Control District: 5
- West Side Recreation and Park District: 5
Investment Assets
- $5.4 billion
- Asset Allocations (Policy):Equity: 37%Fixed Income: 24%Commodities: 4%Hedge Funds: 10%Real Estate: 5%Private Real Estate: 5%Private Equity: 5%Midstream Energy 5%Private Credit: 5%CE Alpha Pool 5%Cash -5%
Actuarial Assumed Rate of Return
- 7.25% (as of August 2020)
Investment Rates of Return (net of fees)
- FY 2021: 23.9%
- FY 2020: 3.0%
- FY 2019: 5.3%
- 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%
Funded Ratios
- FY 2021: 67.1%
- FY 2020: 64.4%
- FY 2019: 64.8%
- 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%
Pension Benefits Paid to Retirees
- FY 2021: $355.1 million
- FY 2020: $338.9 million
- FY 2019: $320.9 million
- 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
Average Monthly Retirement Benefits
- FY 2021: $3,349
- FY 2020: $3,465
- FY 2019: $3,363
- 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
Employer Contributions
- FY 2021: $268.6 million
- FY 2020: $273.9 million
- FY 2019: $229.1 million
- 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
Employee Contributions
- FY 2021: $53.8 million
- FY 2020: $57.8 million
- FY 2019: $50.1 million
- 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