Thank you for your ongoing donations. They are greatly appreciated as they help offset our operating expenses, allowing us to continue our work serving you. CLICK HERE to donate today!
San Francisco Retirement Board (SFERS)
In the month of November SFERS Trust gained 1.46%. For the first five month of the fiscal year SFERS has posted a return of 3.60%.
As stated by the SFERS CIO investment returns this fiscal year will depend on many factors. Returns this calendar year have been marked by a strong economy, solid job growth, historically low unemployment, strong consumer spending, and rising wages.
SFERS has determined that a supplemental cost- of- living benefit adjustment (Supplemental COLA) is payable effective from July 1, 2019. Though the excess earnings were not enough to provide the maximum increase, they were sufficient to provide an increase of 3% less the Basic COLA to the Post ’96 Retirees. As the Retirement System was not fully funded, no supplemental COLA can be paid to those members who retired before November 6, 1996.
Protect Our Benefits Board
As we are approaching the New Year, POB is gearing up for a busy 2020 to get the issue of rectifying the injustice against the Pre-1996 retirees corrected. So, with renew zeal, POB will be doing everything in its power to accomplish this mission.
On behalf of the POB Board we wish you and yours, MERRY CHRISTMAS, HANUKKAH, a HAPPY HOLIDAY SEASON and a HAPPY and JOYFUL NEW YEAR.
Your continuing contributions and support are greatly appreciated and are tax deductible. Please mail them to Protect Our Benefits Trust, P.O. 210250, San Francisco, Ca. 94121-0250 or CLICK HERE to donate today!
From the Executive Board of Protect Our Benefits
Protect Our Benefits is an organization whose goals are to enhance the dignity and quality of life of all San Francisco City and County retirees and preserve their health and retirement benefits. The opinions are those of the writer.