Financial Reports

Overview
Overview

Comprehensive Annual Financial Reports

The Comprehensive Annual Financial Report provides in-depth information about the operations and financial position of ACERA. Readers will find the Comprehensive Annual Financial Report helpful in understanding ACERA’s commitment to financial integrity and member services. Responsibility for both accuracy of the data, and the completeness and fairness of the presentation, rests with ACERA’s management. It is our intent to ensure that the presentation of financial information is accurate and fair, and all material disclosures have been made.

Overview

Actuarial Valuations

ACERA’s actuary is the analytical backbone of our financial security. Our actuarial firm, Segal Co., uses data to place a value on ACERA’s financial commitments to its members as well as a value on the current holdings.

Overview

GASB Actuarial Valuations

In 2015, ACERA implemented the provisions of Governmental Accounting Standards Board (GASB) Statement No. 67, which sets new guidelines on the reporting of pension liability.

Overview

Administrative Budget

ACERA’s administrative expenses are paid from the earnings of the retirement fund.  California law caps annual administrative expenses at 0.21% of the Actuarial Accrued Liability.  The liability is calculated by ACERA’s actuary, and is basically the total amount owed to plan members for retirement benefits, now and in the future.