LP profile · Pension fund
San José Federated City Employees' Retirement System
San José Federated City Employees' Retirement System is a pension fund headquartered in United States (North America). Ranked #280 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
Historical Background
- The San José Federated City Employees' Retirement System is a defined benefit retirement plan established to serve the employees and retirees of the City of San José.
- It operates under the San José Municipal Code Section 2.08.1000 and is managed by a Board of Administration.
Source of Capital
- The system's capital is derived from both employer contributions from the City of San José and contributions from its employee members.
- These funds, along with investment earnings, are used to provide defined-benefit pensions and other benefits to qualified members.
Major Events
- In February 2020, the board amended its charter to shift decision-making for venture capital investments from its investment committee to its staff, aiming for more flexibility.
Allocation Strategy
- The system invests across a diversified range of asset classes, including public equity, fixed income, and alternatives.
- The portfolio includes allocations to private equity and venture capital, with a stated goal of managing diversification and due diligence in this area.
- The system's investment philosophy is guided by a formal Risk Policy to ensure the total portfolio's investment risk aligns with the Board's strategic goals.
Sources
- https://www.sanjoseca.gov/your-government/departments-offices/office-of-the-city-manager/employee-relations/retirement/federated-city-employees-retirement-system
- https://www.sjretirement.com/
- https://www.sjretirement.com/Resources/b23a754c-adc7-48ec-9071-253bc01b298e/FED+Pension+IPS+Approved+05-19-2022.pdf
- https://www.venturecapitaljournal.com/san-jose-pensions-seek-more-flexibility-in-making-vc-commitments/