City of San Diego Retired Employees Association
July 10, 2018
General Meeting Minutes
The minutes for the May 2018 meeting and the May & June Treasurer’s Reports were approved.
President Jim Baross announced that a Nominating Committee is being formed. One member must be from the general membership. Persons who are interested should contact Jim or any other Board member.
Retirement Board Representative Charlie Hogquist reported that retirees with Deferred Comp in Valic should have been notified of their options when the accounts were transferred to CalPERS. He also reported that the State Supreme Court will rule on the legality of Proposition B by the end of August.
Cynthia Queen reported that open enrollment went smoothly but that staff is extremely busy right now implementing the enrollments. Because of this, there may be some delays of staff responses to questions from retirees. She also reported that the SDCERS Board approved the 2% COLA; it will be reflected on the July 31 check. Finally, she introduced SDCERS’ Chief Internal Auditor, Sarah Dickson.
The program was State Assembly Member and former City Council Member Todd Gloria who began his comments with thanks and gratitude to all retired City employees, stating that while he was on the Council he got the credit but City employees did the work. He enjoys working in the capitol, but misses the direct contact with constituents he had as a Councilmember. He assured members that the state is in fine fiscal shape overall – if California was a separate nation, we’d be the fifth-largest economy in the world – and our “rainy day” fund is full. Gloria spoke about his focus on affordable housing and how middle-income people are essentially stuck: they make too much money to qualify for housing subsidies but not enough to buy outright or to upgrade. As a result, middle income people are pushing lower-income people out of the housing market. Gloria also addressed transportation issues, pointing out that the recent gas tax increase is the first since 1993, and that increases in fuel prices are from the oil companies and not taxes. He stated that the City will lose $66 million if the gas tax is repealed, and that Prop 69 – which was approved by the voters in June 2018 – is a state constitutional amendment that requires all fuel tax revenue to be spent on transportation-related projects.