Financial Reports

Transparency and accountability are central to SCERS’ mission. Each year, SCERS publishes a series of financial reports that provide members, employers, and the public with a detailed picture of the system’s assets, liabilities, revenues, and expenses. The financial statements are audited and prepared in accordance with nationally recognized generally accepted accounting standards, ensuring that SCERS’ financial management is consistent, reliable, and accessible.

Financial reports serve several important purposes: they demonstrate how member and employer contributions are being managed, provide insight into the costs of the retirement system, and document the long-term sustainability of SCERS’ funding. By making these reports available, SCERS helps members and the public understand not only where the system stands today, but also how it is planning for the future.

Together, the PAFR, ACFR, and Annual Budget provide a layered view of SCERS’ financial health:

• The PAFR is a member-friendly snapshot of the financial report.
• The ACFR is the official, detailed, audited financial report.
• The Annual Budget shows how SCERS plans its operations each year.

These reports are available on scers.gov and are updated annually. By reviewing them, members can gain confidence that their retirement system is being managed transparently, responsibly, and with the future in mind.