Financial

Overview

Financial

Overview

Financial Reports

CCCERA publishes two financial reports each year. The first is the  Annual Comprehensive Financial Report (ACFR), which contains CCCERA’s financial statements. The second is the Popular Annual Financial Report (PAFR), which is a summary of the ACFR.

In accordance with Gov. Code Section 31597, each year CCCERA issues an annual financial statement by June 30 for the preceding calendar year. Since 1998, CCCERA’s financial statement is published within the ACFR.

Overview

Investments

CCCERA is a defined benefit plan with approximately $11 billion in assets (as of December 31, 2023). A defined benefit plan guarantees a specific monthly benefit at retirement – contributions are collected regularly from members and participating employers and invested. These contributions and investment earnings allow CCCERA to pay member benefits.

Overview

Contribution Rates

Funds to pay CCCERA benefits are derived from member and employer contributions as well as investment earnings on those contributions. Contribution rates change every year on July 1. The contributions are made up of two components: