City of San Diego Retired Employees Association
July 14, 2020
Board Meeting Minutes
NOTES: All votes were unanimous unless otherwise noted
To adhere to COVID-19 social distancing protocols, the meeting was held via Zoom online meeting service
Call to Order: The meeting was called to order by President Dick Wilken at 9:30am.
Board Members Present: Jim Baross, Mike Bresnahan, Chris Brewster, Karen Butler, Shirley Hall, Joan Hernandez, Charlie Hogquist, Brad Jacobsen, Joan McNamara, Ty Rogers, Mary Ann Stepnowsky, John Tsiknas, Dave Twomey, Dick Wilken, and Janet Wood [everybody – again!]
Guests Present: None
AGENDA: There were no additions or changes to the agenda.
PRESIDENT’S REMARKS: None
MINUTES: The minutes of the May 2020 Board meeting were approved.
COMMUNICATIONS: Lisa Rini was concerned because she hadn’t heard from the City regarding her SPSP correction. Joan McNamara informed the Board that the final notification letters to employees arrived on July 10, which resolved Lisa’s concerns.
Jim Baross added that he was having trouble with his correction. His finances are in the credit union, but the money was deposited in a Wells Fargo account that had been opened for him by the City. It was a hassle to get the money transferred and then to close the Wells account.
TREASURER’S REPORT: Karen reported that there was not much activity in May and June: two expenses and one dues income in May; four annual dues payments, a $250 contribution from Byron Frohn, and newsletter expenses in June. Two thousand dollars will be transferred from Advocacy to Printing to cover the costs of the brochure.
M/S/C to accept the May and June Treasurer’s Reports, subject to the transfer of funds.
INVESTMENT COMMITTEE REPORT: The Russell 3000 is doing well, but the Money Market account’s dividends are only $1 or $2.
M/S/C to accept the Investment Committee Report.
RETIREMENT BOARD REPRESENTATIVE’S REPORT
Charlie reported that the investment fund is still over $8 billion and that the City, Airport Authority, and Port Authority all made their contributions.
SDCERS’ consultant provided a new experience study, which will now be done every three years instead of every five years. Data from the study will be used to determine the contribution amounts from the City. Life expectancy tables will reflect the increased longevity of SDCERS members and will increase the plan’s costs. As of May 31, SDCERS had 5548 active members; 2923 inactive members; 9199 retirees; and 857 active DROP members.
1) Because of Covid-19, the August meeting will not be held at the War Memorial Building; it will be via Zoom. After discussion, it was decided to hold all future meetings via Zoom indefinitely.
2) Dave updated the Board on our Image Enhancement Campaign, specifically focusing on Voice of San Diego’s [VOSD] “Morning Report”. For an expenditure of $2500, REA will have a banner at the top of the Morning Report 17 times that will be seen by 25,000 people. The banner will have a link to our website. We will also have a tagline at the bottom of the Morning Report, six tickets to Politifest, and the opportunity for a podcast. In exchange, REA will promote VOSD’s August membership drive on our website; REA members’ personal contact information will not be shared with VOSD. Dave pointed out that this would establish a relationship between REA and a media outlet.
M/S/C to approve the expenditure of $2500 from Advocacy to purchase a banner on the Voice of San Diego Morning Report.
Advocacy: See above. The next meeting will be August 23 at 9:30 via Zoom.
Membership: Membership is 1621, with a few deaths but six new members.
Newsletter: Deadline for the next issue is May 18.
Janet announced that she is retiring in December from her position of Newsletter Editor after 11 years. The Advocacy Committee will seek a volunteer to replace her and will also investigate outsourcing the position.
Past President: No report.
Website: No report.
OTHER RETIREE/ACTIVE EMPLOYEE ASSOCIATION REPORTS
Retiree Issues Task Force (RITF): No report.
Retirement Security Roundtable: No report.
MEA: No report.
Other Retired Public Employee Associations: No report
PROGRAMS: There was discussion about the Holiday Party. Even if the Bali Hai can “open up” to an extent that they can provide Covid-avoidance service (in winter), many REA members will not attend because of fear and/or the lack of socializing. We can carry our 2020 deposit over to 2021, but will keep the December 2020 booked for the time being.
The meeting was adjourned at 10:30am.