Notes from SDCERS Board Meeting, April 18, 2008 Following is a synopsis of the SDCERS Board of Administration meeting of April 18, 2008. The discussion points are highlights of those topics or issues believed to be of the greatest interest or importance of a majority of you. As a matter of routine, several very active retired employees proved detailed and comprehensive notes of Board meetings as well as other activities that are of Plan member interest. If you have additional questions or need more information you can contact me (Dave Hall) or SDCERS staff. Board meetings are televised at least twice on Channel 24 for San Diego residents. As of April 17, you can also view the entire Board meeting (except for the closed session) on your computer at your leisure. Friday evening following the day of the meeting is the first airing of Channel 24.
* Gene Kalwarski, SDCERS actuary from Cheiron gave the Board a primer presentation of what he will be discussing in great detail during the July Board meeting. As an actuary, his purpose is to ensure the Plan is being valued properly. He will be conducting a detailed review of key assumptions which are based at least in part on economics and demographics. The actuary, in this case, Mr. Kalwarski, will be analyzing all probability risks and estimates to confirm that investment predictions are pragmatic and attainable. It is recommended for those of you interested in listening to the presentation, either attend the July meeting, view the meeting on Channel 24 or go the SDCERS web site and view it on your computer. You will be provided with information about the process of managing investments and how your Plan's investment principles are examined in great detail. * The Board approved revised Rule 15. This rule provides a procedure for hearings and Board action on application for benefits when the application is based on a job-related disability. Revised Rule 15 is based on staff review as well as input from individual stakeholders and representatives from employee groups. Unfortunately, as mass email is not conducive to a comprehensive discussion underlying the revision of Rule 15. Even though the process has been revised and updated, some questions may still remain. If you have questions or are interested or are in a copy of the rule please contact SDCERS staff. * An issue the was subject to discussion among Board members and SDCERS staff was the Surviving Spouse Continuance. In essence, does the Plan allow a former spouse to receive a surviving spouse continuance? As you can image, there are a vareity of scenarios that generate an equal amount of unresolved questions concerning Surviving Spouse Continuance. This issue has been continued and will be appearing on a Board agenda in the near future. If this is of interest to you, please go to the SDCERS web site and click on agenda to determine when this next goes before the Board or to Committee. * Rebecca Wilson and other staff presented the new SDCERS web site which became operational on April 17. Please take the time to explore the new homepage and find out much you can learn with just three clicks of a mouse. You can view board meetings at your convenience, find out details about your Plan (accessed only by you through use of a password) and get the latest SDCERS news. Staff's work on the development of this updated web site is certainly one that was designed with the "customer" in mind. We anticipate that you will find the improvements personally beneficial. As I learn more of the details concerning SDCERS and the my role as a fiduciary, I will be able to share with you in greater specificity some of the more comprehensive aspects of the Board meetings. If you have questions, please feel free to contact me (you have my email) or contact SDCERS staff. |