President Dick Wilken reported that the Board has not determined when in-person meeting will resume, but with the Delta variant of Covid on the rise, it will certainly not be in September. The Board will be watching Covid developments before coming to a decision. He also reported that the City and the unions are still working on integrating post-Prop B employees into the retirement system, and there might be an opt-out option for employees who wish to retain their 401k plans.
Cynthia Queen of SDCERS reported that COLAs were included in the August pension checks. She also informed members that even though there are only six people working in the office, pre-retirement seminars are ongoing.
Gregg Rademacher of SDCERS reported that in-person meetings of their Board of Directors will not resume until September 30th or later. He also reported the good news that on June 30th the rate of return on the investment portfolio was 24.9% and that the fund is now worth over $10 billion.
The program was REA’s own Charlie Hogquist, who gave a talk about two early San Diegans: Cave Johnson Couts and Wyatt Earp. He told each man’s background before arriving in San Diego and how each shaped the city in very different ways. Both had a history of violence, but Charlie left us to decide who was famous and who was infamous.