Institutional Investors

San Bernardino mixes FoHFs and funds for tailored alpha overlay


Alternatives are a core strategy to meet future pension benefits at SBCERA, which at 65 is not yet ready to retire

By Ann C. Logue

James Perry
San Bernardino County is 100 kilometres east of Los Angeles, located along historic Route 66. The inland area has mountains, deserts, and agricultural land, which makes for a diverse economy. The San Bernardino County Employees Retirement Association (SBCERA) manages the pension fund for 21 different county agencies.

The plan covers 19,258 active members who work as firefighters, judges, librarians, park rangers and police officers. Some of those agencies offer pensions that are among the most generous in the US. While the board and staff at