City of San Diego Retired Employees Association
May 9, 2017
General Meeting Minutes
The minutes for the April 2017 meeting and the April Treasurer’s Report were approved. President Jim Baross asked members to ratify a change to the By-Laws to clarify the definition of a Board quorum. The motion was approved on a voice vote with no opposition or abstentions.
Cynthia Queen of SDCERS announced that there is now a full SDCERS Board; at the next meeting, the Board will vote on a recommendation from staff that a 2% COLA be approved. (Editor’s note: COLA was approved!) Open reenrollment begins June 5; the booklets are currently being printed should arrive in early June. Finally, she reported that SDCERS staff ran a disaster-preparedness exercise to assure that in the event of a catastrophe, retirees’ checks would still be deposited on time.
Vice-President for Advocacy Mike Bresnahan updated members on the proposal to offer additional insurance coverage to REA members, including dental, vision, travel, and pet insurance. Integrated Labor Solutions will act as broker through a new MEA subgroup called San Diego Public Employees’ Benefit Association (PEBA) that would comprise all MEA and REA members who wish to participate in the supplemental insurance program. Premiums would be paid through payroll deduction. Final details are still being worked out, but we hope to have this in place by open enrollment.
Chris Brewster informed members of a proposal to increase to move half of REA’s Legal Fund from a stable but low interest-producing Money Market account into a more aggressive Exchange Traded Funds (ETF) investment with a far better return rate. We would rebalance the ETF portion of the investment periodically to maintain a 50/50 balance between the two investment strategies. This would keep at least half of our Legal Fund in a liquid account.
Our speaker was Charlotte was Charlotte Sousa from Kaiser Permanente, who walked us through the basics of Medicare. She explained the different Parts, including qualifications and premiums. In a nutshell, Part A covers hospital, skilled nursing, hospice, and in-home care; Part B covers outpatient and physician services; Part C provides coverage through private carriers; and Part D covers prescription medications. She reminded us that you need to enroll before turning 65, preferably three months in advance; there are severe, lifelong fiscal penalties for not doing so. For more information, she directed members to www.Medicare.gov and www.SocialSecurity.gov.