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!
PROTECT OUR BENEFITS, INC., IS AN ORGANIZATION WHOSE GOALS ARE TO ENHANCE THE DIGNITY AND THE QUALITY OF LIFE OF ALL SAN FRANCISCO CITY AND COUNTY RETIREES AND PRESERVE THEIR HEALTH AND RETIREMENT BENEFITS
FROM THE EXECUTIVE BOARD OF PROTECT OUR BENEFITS, INC.
SAN FRANCISCO HEALTH SERVICE SYSTEM
Hoping to find all of you healthy, be sure to have all your shots, boosters, and vaccines if so needed or desired. HSS has held its mental health forum with its providers which we’ll report on next month. Good news, HSS has convinced Delta Dental to expand its categories of qualification for its SMILEWAY program. Be sure to check this out with your dentist. The HSS Board is in a “Blackout” period concerning rates and benefits for 2024. So they can’t be approached or spoken to until the “Blackout” is over. Stay well.
SAN FRANCISCO EMPLOYEE RETIREMENT SYSTEM (SFERS)
As of January 31, 2023, the SFERS fund value is $32.42 Billion. Year to Date SFERS investment return is 2.81% and the Fiscal Year to Date return is 1.76%.
The market turmoil of 2022 was tough on pension plans which is why pension plans need to invest for the long term. SFERS will continue to “maximize long-term rates of return on investments within prudent guidelines”.
At the February 16, 2023 meeting, SFERS Retirement Board approved a Basic Cost of Living Adjustment (COLA) for qualified miscellaneous retirees and New Plan Safety retirees who retired on or before July 1, 2023. Effective July 1, 2023, they will receive a cost-of-living adjustment in the amount of 2% based on their June 30, 2023, gross retirement allowance.
POB met with SFERS’s newest Commissioner A.J. Thomas. Commissioner Thomas is an active employee and a Contract Compliance Officer with the San Francisco Office of Economic and Workplace Development. POB looks forward to working with Commissioner Thomas.
There is currently one vacant Commissioner position on the SFERS Board as Commissioner Brian Stansbury has resigned. POB wishes Commissioner Stanbury all the best and we have enjoyed working with him.
PROTECT OUR BENEFITS, INC. (POB)
POB is doing its best to keep YOU (the Retiree) informed on what is happening with SFHSS and SFERS. POB’s purpose is to enhance the quality of life of all San Francisco City and County employees and preserve their Health and Retirement Benefits. Hopefully, by either February’s or March’s benefit checks SFERS will have anyone who was affected by the passage of Prop A account settled. Remember this involves anyone who retired before November 1996. Prop A was a campaign that was well thought out. It was precise, well-supported, and endorsed. And that is why YOU were victorious. Unfortunately, the way politics goes, retirees will face other attacks on their pensions and health benefits. Hopefully, YOUR POB will be there and ready to take these challenges on.
UNITED WE STAND,
DIVIDED WE FALL
Your continuing contributions to our charitable non-profit, to offset our operating costs, 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!