CITY OF SAN
DIEGO RETIRED EMPLOYEE ASSOCIATION
BOARD MEETING MINUTES September 11, 2007
Present: President
Guest: Dick Wilken -
Meeting called to order at 9:33a.m.
Minutes for August 14, 2007 C
COMMUNICATIONS:
Nancy asked for suggestions for our C
TREASURER'S REPORT- Sylvia Tatum
Grand Total Reserve-Operating Balance on 8/1/07 was $33,327.27
Receipts $1,923.48
Expenditures/Transfers $1,650.90
Operating Fund Ending Balance 8/31/07 was $4,481.12
Grand Total Reserve-Operating Fund on 8/31/07 was $34,524.19
Legal Fund Money Market ending balance on 8/31/07 was $24,964.82
Sylvia noted that check #1944 in July was to Phoenix Mail Service. There was a
discussion of the number of copies.
ACTION ITEMS:
Award Recognition Committee Recommendations-
The committee selected Bill Sheffler to honor this year at the Holiday Party.
Ross/Virgina moved/seconded. Unanimous
approval.
Sheffler uses his professional actuarial skills to benefit the future of
retirees. He was a member of the Pension Reform Committee, is the current Chair
of the Disability Committee, refused to resign under political pressure, etc.
He is also scheduled to be our November speaker.
Award Cost Proposal -Joe Flynn
Joe is ordering the traditional radio for approximately $130.
October Meeting Location Change/Lunch? - Dora Garcia
Floors are being re-done, so the October meeting will be at the Recital Hall,
next to the Puppet Theater, at the AeroSpace Museum
end of Balboa Park.
Dora asked if the lunch cost is effective? She
reported C
Terry moved to discontinue lunches in January 2008. Discussion was continued to
October to allow Jean Hughes to research food providers in the
Holiday Luncheon Subsidy Recommendation- Jean Hughes
Sylvia will set the price at last years ticket price.
Jean will mail an additional $500 check for our second deposit to Tom Ham's.
This makes our total deposit so far $1000.
Joe pointed out that retirees with limited funds or mobility problems might not
be interested in subsidizing the event.
Motion by John/Carmen to eliminate expense of door prizes and decorations,
passed 10-4.
INFORMATION-DISCUSSION ITEMS:
Retired Fire and Police Access to Web Site- Sylvia Tatum
Lynn pointed out that fire and police retirees are notified of our speakers
every month via newsletter distribution to groups. John encourages them to
become members of C
Status of Proposed Waterfall Revision -Virginia Silverman, Joe Flynn
This item is not appearing on the City Council's agenda.
Contingent benefits are now listed as liabilities at SDCERS, and the concept of
"excess earnings" is no longer used to pay Corbett and the 13th
check. Will the IRS require a revised Ordinance? How will this be cleaned-up?
CHARTER REVIEW COMMITTEE AND SDCERS BOARD- Joe Flynn and Patricia Karnes
The sub-committee of the City's Charter Review
Committee was scheduled to discuss the composition of the SDCERS Board Charter
on Sept. 7th.
Next meeting of the full Charter Committee is Sept. 27th.
COMMITTEE REPORTS:
NOMINATING COMMITTEE UPDATE- Patricia Karnes, Ross McCollum, Mike Stepner
Ross reported he was gathering names.
It was noted that the two Vice-President Board members are in order to be the
next President. Ty has expressed interest in remaining Chair of Advocacy.
Web Posting Board Policy Committee -
No meetings were scheduled because of
Program Committee-
Sept 11 - Tom Hebrank, SDCERS new Board President.
Oct 9 - Veronica Glen, Southern Caregivers Resource Center,
presenter Virginia Silverman.
Nov 13 - Bill Sheffler, SDCERS Board and private actuary,
presenter Ross.
Dec 13 (second Thursday)- Holiday Party- Jean Hughes
Advocacy Committee- Ty Rogers,Chair. Virginia
Silverman, John Casey, Patti Karnes,
No advocacy meetings were held.
Patricia reviewed topics of interest to City retirees:
1) Trial issues- Ty and Virginia
(Additional Notes from SDCERS September Board Packet:
- SDCERS vs. City for funds to cover MPI and MPII on Oct. 18th..
- Three judges upheld the right of the District Attorney's 1090 case of People
of the State of California vs. Cathy Lexin, et al.,
to go forward.)
2) Revision of Waterfall
3) Health Care- Joe and Nancy. (Additional Note: City presented options to set
up a funding solution for retiree healthcare at the Sept. 12th Budget and
Finance Committee. One possibility was similar to CalPers'
solution. Terry Flynn had mentioned this as a possible solution.)
4) Aquirre's issues.
5) SEC issues. How will the City DISCLOSE pension and health care costs? Keller
has hired a specialized CPA to exam SDCERS as more work needs to be done on
SDCERS' internal controls for reporting pension debt.
6) IRS decisions on SDCERS tax-compliance and Voluntary Corrections program.
Part of this is the IRS' time-line for the City to re-pay SDCERS $100 million
for health care. Does the Council need to approve this settlement?
7) Technical Compliance Ordinance(s) requiring the Council's approval.
8) SDCERS proposed change of SDCERS from a multi-employer trust to a Group
Trust. The City Council asked for more information and continued their vote
until Sept. 24th.
Our Board discussed Roxanne Story Parks answers to
Donna Frye's questions about the Group Trust, as well as, SDCERS' application
for the IRS' Voluntary Compliance Program.
NEWSLETTER EDITOR -Lynn Swanson
No report.
ACTIVE EMPLOYEE ASSOC. REP. -Lynn Swanson
Lynn commented on legal actions and negotiations.
TREASURER /MEMBERSHIP SERVICES REORGANIZATION- Sylvia Tatum,
No report.
RETIREE ISSUES TASK FORCE: Joe Flynn
Ron Moskowitz, from retired Police and Fire, is Chair.
Joe recommended instead of re-starting the Health Advisory Committee, to use
SDCERS' Business and Governance committees to discuss retiree issues.
PENDING ITEMS
Issue Papers -
Unanimous approval of Ross' motion to post "drafts" of Issue Papers, that are delayed due to the reviewing process at
SDCERS.
RETIREMENT BOARD: Carmen Lutes
Carmen will contact Rebecca about what is happening with our Issue Papers.
SDCERS Fund Balance , closing as of September 11,
2007, was $4.964 billion, up $54 million since last month).
Meeting adjourned at 11:00 a.m.
Submitted by P.Karnes October 2, 2007