Plan
San Diego City ERS
State
California
Funded Ratio
N/A
Assets
$10.59B
Members
21,568
Health Grade: F — Critical — deeply underfunded, potential for benefit cuts
FY2023 data Grade F Public Plans Database

San Diego City ERS

Funded ratio, unfunded liability, member counts, ARC coverage, and 23-year financial history for San Diego City ERS — sourced from the Public Plans Database (Boston College CRR) and cross-checked against actuarial valuations.

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By · · California · General State Plan · Data through FY2023

Funded Ratio: 0.0% (Critical) San Diego City ERS funded ratio compared to national public pension benchmark. FUNDED RATIO 0.0% Critical Nat'l avg 73.5% 0% 60 70 80 100% Healthy > 80% · At-risk 70-80% · Critical < 60%
San Diego City ERS funded ratio is 0.0 percent — classified as Critical. National public-pension benchmark is 73.5 percent.
F
Financial Health Grade
Critical — deeply underfunded, potential for benefit cuts

Funded Ratio

N/A

actuarial assets / liabilities

Unfunded Liability

N/A

actuarial shortfall

Total Members

21,568

active + retired + vested

Participant Composition

Participants: 9.7K active, 11.2K retired, 0 separated Plan participant breakdown showing active workers, retirees, and separated-vested members. PARTICIPANT MIX 21.6K total members 45% 52% Active 9.7K Retired 11.2K Separated 0 Active-to-Retiree 0.86 · Mature / At Risk
Plan participant breakdown: 9.7K active workers, 11.2K retirees, 0 separated-vested members. Sustainability rating: Mature / At Risk.

The active-to-retiree ratio is a leading indicator of long-term plan sustainability — plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.

Investment Policy Mix

Asset Allocation: 55% equity, 25% fixed income, 17% alternatives San Diego City ERS investment policy mix as reported in Form 5500 Schedule H disclosures. ASSET ALLOCATION $10.6B market assets · Form 5500 Schedule H 55% 25% 17% Equity 55.0% Fixed Inc. 25.0% Alternatives 17.0% Cash 3.0% Investment Stance: Growth-Tilted · Equity + Alts 72%
San Diego City ERS asset allocation: 55% equity, 25% fixed income, 17% alternatives, 3% cash. Investment stance: Growth-Tilted.

Public pension plans report their asset allocation in Form 5500 Schedule H Part I disclosures. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.

Historical Funded Ratio

Year Funded Ratio
2023 N/A
2022 N/A
2021 N/A
2020 N/A
2019 N/A
2018 N/A
2017 N/A
2016 N/A
2015 N/A
2014 N/A
2013 N/A
2012 N/A
2011 N/A
2010 N/A
2009 N/A
2008 N/A
2007 N/A
2006 N/A
2005 N/A
2004 N/A

What the Data Says About San Diego City ERS

San Diego City ERS reports a funded ratio of N/A as of fiscal year 2023, earning a financial health grade of F in the Public Plans Database. The plan holds $10.59B in market assets against an unfunded liability of N/A. As a General State plan operating under California sponsorship, it covers 21,568 members (9,651 active contributors, 11,164 retirees drawing benefits). These figures aggregate from Form 5500 filings submitted to the Department of Labor and actuarial valuations reported through NASRA.

A funded ratio below 60% reflects significant underfunding relative to the national average of 72–75%, which typically triggers escalating employer contributions or legislative reform conversations. Annual Required Contribution data was not reported for the latest cycle. The relationship between contribution adequacy and investment performance determines whether the unfunded liability narrows or expands year over year.

For California taxpayers and plan members, the N/A unfunded gap represents the actuarial shortfall that must eventually be closed through a combination of contributions, investment returns, or benefit modifications. Unlike private-sector pensions governed by ERISA and backstopped by the PBGC, public plans like San Diego City ERS rely on the full faith and credit of California — meaning funding shortfalls flow through to state and local budgets rather than a federal insurance program. This information summarizes official Public Plans Database disclosures and is provided for research and educational purposes only. It is not financial, legal, or retirement-planning advice; active and retired members with specific benefit questions should consult their plan administrator directly.

Membership

9,651
Active Members
11,164
Retirees
21,568
Total Members

Plan Details

Plan Type
General State
State
California
Market Assets
$10.59B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA

Other California Plans

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Related Resources

Pension Guides

Frequently Asked Questions

Is San Diego City ERS fully funded?

San Diego City ERS has a funded ratio of N/A as of FY2023, earning a health grade of F. A funded ratio of 100% means the plan has enough assets to cover all projected liabilities. Ratios above 80% are generally considered adequately funded; ratios below 60% indicate significant underfunding and risk to future benefits.

What happens if San Diego City ERS runs out of money?

Public pension plans like San Diego City ERS are backed by the sponsoring government entity — in this case California. If a plan's assets are insufficient, the state or local government is typically required to make up the difference through increased contributions, benefit adjustments, or tax measures. Unlike private pensions, public pensions are not insured by the PBGC, but they do carry the full faith and credit of the sponsoring government.

What does a funded ratio of N/A mean?

A funded ratio of N/A means that San Diego City ERS currently has assets equal to N/A of its projected benefit obligations. The unfunded liability — the gap between assets and liabilities — stands at N/A. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.

How does San Diego City ERS compare to other public pensions?

San Diego City ERS is a General State plan in California serving 21,568 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 72–75%. San Diego City ERS's funded ratio of N/A places it below the national average, indicating elevated fiscal pressure.

How many members does San Diego City ERS have?

San Diego City ERS covers 21,568 total members, including 9,651 active employees and 11,164 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability — when the number of retirees grows relative to active contributors, funding pressure increases.

What is the ARC payment percentage for San Diego City ERS?

ARC payment data is not currently available for San Diego City ERS. The Annual Required Contribution (ARC) is the actuarially determined amount a plan sponsor should contribute each year to keep the pension on track. Employer contribution patterns are tracked annually in the Public Plans Database.

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Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by Kiznis Studio Editorial

Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.

Read our methodology — how this data is sourced, computed, and verified.

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