CITY OF SAN DIEGO

RETIRED EMPLOYEES ASSOCIATION

BOARD OF DIRECTOR’S MEETING

August 9, 2005

 

President Nancy Acevedo called the meeting to order at 9:37 a.m.

 

ATTENDANCE

BOARD MEMBERS:  Nancy Acevedo, Joan Lundy-Boyd, Alice Anglim, Sylvia Tatum, Don Robbins, Jim Foley, Virginia Silverman, Charles Buchanan, Pat Karnes, Bob West, John Tsiknas, John Casey, Ruthann Hageman.

ABSENT:  Joe Flynn (Vacation), Adam Saling

GUESTS:   Dick Wilken, Agnes Winkler, Terry Flynn, Bill Hanley.

 

MINUTES

Corrections to the minutes of July 12, 2005:  Add Don Robbins to Board Members in attendance.  Change Jim Foley from absent to Board Members in attendance.  Under Action Items (page 2) Liability Insurance – Change John Casey to John Tsiknas. In Legal policy/fund change Virginia to Sylvia (says it’s in the money market acct.).  In Nominating Committee change 2 (Board members are up for election) to 3.

 

The minutes of the Board of Director’s meeting of July 12, 2005 were approved as corrected.

 

COMMUNICATIONS

 

We received another announcement from ALPERS.  It was previously decided to put an announcement in the newsletter.

 

TREASURER’S REPORT

 

Sylvia Tatum reported on July 2005 - Balance on July 1 = $2,846.53. Income for July $1,223.05, expenditures $774.21. Ending Balance on July 31, 2005 = $3,295.37. Reserve Accounts totaled $10,364.78. Grand Total = $13,660.15.

Sylvia provided a handout. 

 

PROGRAMS

 

Today Richard Kipperman will be presenting on Receivership.  Next month possibly Neil Morgan or Mayoral candidates.  There was a consensus to ask Bill Sheffler to come and speak on evaluating actuarial reports.  Nancy will pass this information on to Adam.

 

Nancy reported Joe is out of town, he will be back Aug. 13th.  Today’s City Council docket is an item to remove Peter Prevolos as the President of the Retirement Board.  There are four new  people being proposed today for the Retirement Board.  Discussion on the make up of the Board and recent events.  Retirement Board meeting this Friday is the financial meeting.

 

COMMITTEE REPORTS

RETIREE ISSUES TASK FORCE

Joe out of town.

 

HEALTH ADVISORY COMMITTEE –

No report

 

NEWSLETTER –

Ruthann has nothing new to report.

 

MEMBERSHIP –

Charles – nothing to report

 

ACTIVE EMPLOYEE ASSOC. REPRESENTATIVE –

Alice reported MEA is still waiting to see what is going to happen.

 

WEBSITE –

John T - July was the busiest month we have ever had.  John discussed the publications he pulls from and the problem with some of their articles.  Many of the publications require membership to view previous articles.  Nancy suggested John put a notice on the website informing members of this problem. 

 

ADVOCACY COMMITTEE –

Virginia passed out the newsflash.  Virginia reported on the 2 meetings she and others had with City Attorney Mike Aguirre.  Nancy, Virginia, Dick, Charles and Pat attended.  She suggested getting a committee together to suggest ways for the Council to look at new revenue.  MEA has already done this and Joan will get her a list. 

 

ACTION ITEMS

Nancy read from the by-laws under The purpose of our organization.  Discussion regarding separating the retirement classes within the organization. 

 

Motion "In the matter of retirement benefits, our organization (CSDREA) is to remain neutral and we should be advocating other concepts that promote the entire welfare of all retirees as stated in our bylaws, ARTICLE II "PURPOSE". John Tsiknas motion. Virginia Silverman second.  Motion passed unanimously.

 

Virginia suggested Nancy write a letter to the Union Tribune giving the Retiree’s side of the retirement issue. Consensus to hold onto the letter for now.

 

Nominating Committee – Charles reported they had a meeting, Bob Headland probably will be chairman.  They will go back and contact current board members plus put a list together of positions.  He will have more to report next month.

 

Insurance Review – John C has heard no questions from the last report.  Nancy brought up a clause in the policy to notify the Insurance Co. when 50% of the board changes.  Discussion on this.  John will resolve the number of members to be covered.

 

Nancy – Free Spirit – the editor emailed Nancy to find out if we had any subjects that we would like them to address.  Suggestions were given to Nancy.

 

STATUS OF RETIREMENT FUND

Nancy reported the Retirement Fund balance stood at $3.888 Billion up +$43 Million from last month.

 

Dick Wilken reported the AUE had a general meeting a couple of weeks ago.  They decided to participate in the Intervene lawsuit.  There will also be an article in the Free Spirit.  He gave a brief report on the lawsuit.

 

The meeting was adjourned at 10:50 a.m.

 

Respectfully submitted,

 

 

Joan L. Lundy-Boyd

Secretary

 

Return to Board of Director Meeting Minutes Index