San Diego (CA) ERS — assets, returns and funding
Pensions: all tracked plans · Australian super in numbers · Private market performance · the PE statistics · what plans disclose · where they diverge
San Diego (CA) ERS (California) reported $12.3bn of assets for fiscal year 2025, a one-year investment return of 9.4%, and was 76.1% funded — below the ~80% mark the industry reads as sound.
| Total assets (FY 2025) | $12.3bn |
| 1-year return | 9.4% |
| 5-year return (annualised) | 8.6% |
| 10-year return (annualised) | 7.4% |
| Funded ratio (GASB) | 76.1% |
How the money is invested (asset allocation)
San Diego (CA) ERS held 42.7% of its assets in public equities and 28.4% in fixed income (bonds) for fiscal year 2025 — the largest of 7 sleeves it reports, with the rest below:
| Public equities | 42.7% |
| Fixed income (bonds) | 28.4% |
| Private equity | 11.4% |
| Real estate | 9.7% |
| Hedge funds | 3.4% |
| Commodities | 2.9% |
| Cash | 1.5% |
Compare San Diego (CA) ERS with similar plans
The plans most worth reading San Diego (CA) ERS against — similar in size, or invested in the same managers — side by side, each with its own page for the detail:
| Plan | Assets | 1-yr return | Funded ratio | Why comparable |
|---|---|---|---|---|
| California PERF (CalPERS) | $563.0bn | 11.6% | 71.3% | Same state — California |
| California Teachers (CalSTRS) | $370.2bn | 8.5% | 76.7% | Same state — California |
| University of California | $110.8bn | 12.7% | 85.4% | Same state — California |
| LA County (CA) ERS | $86.2bn | 9.7% | 82.0% | Same state — California |
| San Francisco (CA) ERS | $37.5bn | 7.9% | 96.8% | Same state — California |
| Los Angeles (CA) Fire and Police | $30.5bn | 11.3% | 100.6% | Same state — California |
Questions this page answers
How much does San Diego (CA) ERS have in assets?
San Diego (CA) ERS reported $12.3bn in total assets for fiscal year 2025, as compiled by the Public Plans Database.
What return did San Diego (CA) ERS make on its investments?
San Diego (CA) ERS reported a 9.4% one-year investment return for fiscal year 2025, and 7.4% a year over the past ten years, per the Public Plans Database.
Is San Diego (CA) ERS fully funded?
San Diego (CA) ERS was 76.1% funded for fiscal year 2025 — below the ~80% mark many treat as reasonably sound. US public plans face no federal funding minimum, and actuaries add that the trend matters more than any single line (Public Plans Database).
How is San Diego (CA) ERS's money invested?
San Diego (CA) ERS held 42.7% of its assets in public equities and 28.4% in fixed income (bonds), its largest sleeves for fiscal year 2025 (Public Plans Database).
See also: all tracked plans · how the private-equity funds these plans invest in have actually performed, from the plans' own disclosures: private market performance, and where plans' numbers diverge on the same fund.