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 Health Service
Right now, HSB is amid what they call a vendor Black-Out period. This is where vendors present medical, dental, and vision rates for 2021. Hopefully, we can all benefit from reduced costs of medical care. POB now knows that Clair Zvanski will be the next Health Service Board member as she ran unopposed.
San Francisco Retirement Board (SFERS)
Seems like January had two return patterns. In the first half of January, stocks showed a gain of more than 3% as last year’s optimism and 32% gain continued early into the year. In 2nd half of the month, the coronavirus spread negatively impact economic growth. On the fiscal year-to-date side, for the first seven months of FY2019-20 the SFERS portfolio has returned 5.42%. Public Equity has led the way, posting returns of 8.31% followed by Private Equity which has gained 5.43%. All other portfolios have recorded positive returns of between 2.20% and 3.97%.
On the bright side, SFERS Board voted in December to disburse a Supplemental Cola of 1% to the post 1996 retirees. This raise Is retroactive from July of 2019. Another injustice which POB is fighting to restore to the pre-1996 retirees.
Protect Our Benefits Board
POB is in full operation for getting the ballot ready for Nov. It’s amazing how many hurdles you must clear to do this, we must prepare a disclaimer summary for the Fair Political Practices Commission, San Francisco Ethics Commission, and don’t forget about our friends at the IRS.
With all this going on, we had to make changes for legal requirements and reasons. If you want your donation to go EXCLUSIVELY TO THE BALLOT MEASURE ISSUE, make out the check to.
“RESTORE RETIRED CITY WORKERS EARNED BENEFITS”
Mail the checks to: S.E. Owens & Co., 312 Clay St, Suite 300, Oakland, Ca. 94607
IF YOU PREFER TO MAIL THEM TO THE POB, AND HAVE OUR TREASURER ROUTE IT APPROPRIATELY, MAIL CHECK TO: Protect Our Benefits, PO Box 210250, San Francisco, Ca 94121-0250
Either way, make the check out to:
“RESTORE RETIRED CITY WORKERS EARNED BENEFITS”
PLEASE NOTE CHECKS TO THE BALLOT INITIATIVE ARE NOT TAX DEDUCTIBLE.
And now all the expenses are starting to creep in. For your information, as in the past the POB is entirely volunteer. So far on the campaign we have spent over $50,000 dollars just to get off the ground. And a grassroot campaign of this magnitude will surely cost more. So, your donation is clearly appreciated.
POB also discussed an issue that you all you should explore. When you pass, your designee or estate qualify for a $100 per year of service. This is up to 30 years’ service. So, if you retired after 30 years’ service, your family or spouse will get a check for $3000 when you pass. But must have a Death Benefit Beneficiary Form, on file before your passing at the Retirement Board. To check on the beneficiary, or change the beneficiary, call the Retirement Board @415-487-7000 for information and instructions or log on to the Retirement System web site.
POB will be keeping you abreast in the next couple of months of the developing ballot issues.
UNITED WE STAND, DIVIDED WE FALL
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.