CITY OF SAN DIEGO

RETIRED EMPLOYEES ASSOCIATION

GENERAL MEMBER’S MEETING

MARCH 8, 2005

President Nancy Acevedo called the meeting to order at 11:05 a.m.

Joe Sediway led the flag salute.

GREETERS

Nancy thanked today’s volunteer greeters: June Sanford and Lyola Jensen.

MINUTES

Minutes of the January and February meetings were approved.

TREASURER’S REPORT

Sylvia Tatum reported on February 2005. Balance in the Operating Fund on February 1, 2005 was $2,124.82. Income for February was $2,143.42, expenditures were $2,063.55 leaving a balance in the Operating Fund on February 28, 2005 of $2,204.69. Reserve accounts totaled $10,300.16 for a grand total of $12,504.85.

NEW MEMBER AND FIRST TIMERS

Several new members and first timers stood and introduced themselves.

BIRTHDAYS

None for this month.

COMMITTEE REPORTS

RETIREE ISSUES TASK FORCE - Nancy reported for Dave Crow, not present. There is a meeting planned for next week in the City Manager’s office. The discussion will probably center on health care.

HEALTH ADVISORY COMMITTEE – no report

RETIREMENT BOARD ELECTION – NEW RETIREE MEMBER

Joe Flynn, as our newly elected member to the Retirement Board, met with our outgoing Board Member, Dave Crow. Dave briefed Joe on the various committees he has served on. Joe, along with Nancy, met with the other candidate, Keith Enerson, who is President of the Retired Police and Fire Assoc. They had a good meeting and talked about our two groups, what we have in common and working on getting together. Joe will be attending a week long course on being a Retirement Board Trustee. At this time it is uncertain when the Board will be sworn in. The Mayor is still working on getting his appointees sworn in.

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Joe spoke about the annual St Patrick’s Day Parade this Saturday and invited all to attend.

ADVOCACY COMMITTEE – Joe has been the Chair of the Committee to get it started. However, since Joe was elected to the Retirement Board, we have a new Vice President – Advocacy - Virginia Silverman. Patricia Karnes is the new Board Member filling Virginia's seat. Both have been doing a lot of work, covering the meetings and putting minutes on the website. John Casey and Alice Anglim are also on the committee. With Joe leaving they may be looking for another committee member.

AUDIT COMMITTEE REPORT - Nancy thanked the Audit Committee, Ruth Ann Hageman, Bob Headland and Mary Bush. They complimented Sylvia on the excellent job she does as Treasurer.

OTHER BUSINESS

BOARD ACTIONS REPORT – Nancy reported the 2005 Budget was approved at the meeting this morning. Virginia Silverman has been appointed Vice President – Advocacy, replacing Joe Flynn. Patricia Karnes was appointed to the Board, replacing Virginia Silverman.

ALLIANCE OF UNREPRESENTED EMPLOYEES – This is a new group, consisting of active unrepresented employees and retirees, who have banded together to seek legal representation regarding the lawsuit filed by April Boling (SD Taxpayers Assn.)This lawsuit seeks to declare the pension formula increases in 2002 would be rolled back. This lawsuit has been filed and would affect some of our retirees. Attorney Conger and Ms. Bolig have said their intent is not to harm anyone, however, this is not in writing and when it goes to Court their intent is gone out the window. Nancy introduced Mick Gammon and Dick Wilken who are here today from the group and would like to speak and to answer questions for all those who are concerned about this action. Nancy expressed that retirees need to stick together.

STATUS OF RETIREMENT FUND

Nancy reported the Retirement Fund balance stands at $3.657 Billion, up $57 Million from last month.

ADJOURNMENT

The meeting was adjourned at 11:20 a.m.

Respectfully submitted,

Joan L. Lundy-Boyd

Secretary