City of San Diego Retired Employees Association
April 13, 2021
Board Meeting Minutes
NOTES: All votes were unanimous unless otherwise noted
The meeting was held via Zoom
Call to Order: The meeting was called to order by Vice-President – Advocacy Mike Bresnahan at 9:15am.
Board Members Present: Jim Baross, Mike Bresnahan, Chris Brewster, Karen Butler, Shirley Hall, Joan Hernandez, Brad Jacobsen (at 9:35), Joan McNamara (at 9:50), Ty Rogers, Mary Ann Stepnowsky, John Tsiknas, Dave Twomey, and Janet Wood
Guests Present: None
AGENDA: There were no additions or changes to the agenda.
MINUTES: The minutes of the March 2021 Board meeting were approved.
TREASURER’S REPORT: Karen reported a member canceled the check for his dues, resulting in a $20 service fee to us.
M/S/C to accept the February Treasurer’s Report.
INVESTMENT COMMITTEE REPORT: John reported that the Russell appreciation at 60.16% is now at its all-time high. The Money Market appreciation is at 3.64%.
Exactly two years ago we had $205K in the Legal Fund; today it was $300K+. Even though there is a 55/45 split between the Russell 3000 and the Money Market, it was decided to refrain from redistributing funds to achieve a 50/50 balance.
M/S/C to accept the Investment Committee Report.
RETIREMENT BOARD REPRESENTATIVE’S REPORT: Via email, Charlie reported that SDCERS is providing data to the City to help with assessing options for making Prop B hires “whole”.
1) Mike reported that the new flyer and membership application form have been developed and are at the printer for distribution by SDCERS in the healthcare mailer; they are also available on our website.
2) Dave gave an update on our Image Enhancement Campaign. Mike Zucchet of MEA will be one of four panelists on a Voice of San Diego podcast about the City’s budget which should include discussion about the end of Prop B. Dave is also working on a virtual food drive in June.
3) The Advocacy Committee has started work on developing a 5-Year Plan; Stacey LoMedico is focusing on membership recruitment.
4) The virtual Health Fair for retirees is June 2, and for active employees is June 9. Our booth is loaded with materials. We will also add videos of REA members explaining why they joined and why others should join.
ADVOCACY COMMITTEE REPORT
The next meeting is Thursday, April 22 at 9:30am via Zoom.
OTHER COMMITTEE REPORTS
Membership: No report
Newsletter: Deadline for the next issue is April 20.
Website: No report
OTHER RETIREE/ACTIVE EMPLOYEE ASSOCIATION REPORTS
Retiree Issues Task Force (RITF): No report
Retirement Security Roundtable: Chris reported that the California Supreme Court is considering a case involving the revocation of a public employee’s retirement benefits if convicted of criminal activity while employed by a public agency; benefits accrued prior to the commission of the crime would not be affected.
MEA: No report.
Other Retired Public Employee Associations: No report
PROGRAMS: The program for the May 11 meeting will be Jonathan Hayes of SDPEBA.
There was discussion about the Holiday Party. Dave will look into our obligations to the Bali Hai and what the event might look like.
The meeting was adjourned at 10:37am.