Annual Comprehensive Financial Report (ACFR)
The Annual Comprehensive Financial Report (ACFR) is SCERS’ official, audited financial statement. Prepared in accordance with Generally Accepted Accounting Principles (GAAP) and Governmental Accounting Standards Board (GASB) requirements, the ACFR provides a complete picture of the system’s financial condition.
The ACFR includes:
- Statements of fiduciary net position and changes in fiduciary net position.
- Detailed information on contributions, benefit payments, and investment income.
- Notes and required supplementary information about SCERS’ funding policies, actuarial assumptions, and investment holdings.
Because it is prepared to rigorous national standards, the ACFR is used by financial professionals, auditors, and policymakers to assess the health of the retirement system. For members, the ACFR provides reassurance that SCERS’ finances are subject to independent review and held to the highest level of accountability.
