Our November speakers were Elaine Reagan, SDCERS Attorney; Peter Preovolos, past Chair of the SDCERS Board; and Ray Ellis,recently appointed to the SDCERS Board by Mayor Sanders. Elaine asked, and answered, the question, "What would happen if the City did not pay the ARC (annual required contribution)?" Her answer was, "Absolutely nothing." She stated that funds are available to pay pensions for 30 years even if no additional payments were made by the City and there were no interest earnings. Peter stressed the need for retirees to stand up, be heard and be involved, stating, "It is critical." Ray said he was amazed at the misinformation and misperceptions of the system, and encouraged us all to provide the facts when opportunities arise.

Cynthia Queen, SDCERS Member Services Director, stated that, as expected, the 13th check and Corbett benefit will not be paid this year, as there were not sufficient interest earnings. The Corbett benefit will roll over to the next year that there are sufficient earnings to pay the 13th check. We were also advised that the State of California is taking an additional 10% in taxes from our November and December pensions.

SDCERS Administrator David Wescoe has resigned, effective November 30. It was stressed that he had built such a strong staff that "they won't miss a beat." Mr. Wescoe has made numerous changes and reportedly SDCERS now has the reputation of being the best run public retirement system. In recognition of his accomplishments, our Board voted to present him with our annual "Outstanding Contribution Award" which recognizes a person who has made significant contributions to benefit our Association and/or retirees. The presentation was made at the SDCERS Board meeting on November 20th.

November is when our elections are held. It is my pleasure to announce the newly elected officers and Board members: President - Jim Baross; Vice President Programs - Dave Twomey; Vice President Advocacy - Patti Karnes; Secretary - Ruth Ann Hageman; Treasurer - Gary Hess; and Board members - Art Brown, Dick Wilken and Ty Rogers.

 

We all owe a debt of gratitude to our Nominations Committee, headed by Ruth Ann Hageman, for their work in recruiting such outstanding members for our Board.

Continuing Board members are Terry Flynn, Bob Korch and Maggie Smith. Appointed members of the Board are Newsletter Editor -Jean Struiksma; Parliamentarian - Bob West; and Membership - Sylvia Tatum. Dave Hall, our Elected Representative on the SDCERS Board is also a voting member of our Board. And I will continue on the Board as Past President. Other active members who are not voting members of the Board are: Sunshine - Sharon Beach; Hospitality Co-Chairs - Mary Lynn Hyde and Janet Burgess; Representative to MEA and Special Events - Helen Phillips; Webmaster - John Tsiknas; Retiree Issues Task Force Member - Joe Flynn; and Kaye Carey, who maintains our roster.

In July I told you about a State initiative proposal which, if successful, would add extra taxes on pensions and health care premiums. We have received a notification from the Secretary of State that the Pension Tax Initiative failed to qualify. That was the good news for the month.
                                                                  Nancy