November Newsletter

November Newsletter

Before you begin reading, sign-up for our newsletter, which includes online advocacy campaigns. Be the first to know when our benefits may be threatened, along with what you can do to help!

Your continuing contributions are greatly appreciated, and they are tax deductible. Please mail them to Protect Our Benefits Trust, P.O. 2120250, San Francisco, CA 94121-0250, or click here to donate today.

 

CCSF V. SFERS (PRE-1996)

We are still awaiting a court date. The last update we received was that the case was put on a “conference list,” which is the step that precedes the assigning of a court date.

There has been some movement at the California supreme court level. Cal Fire, Local 2881, vs. CalPERS, the first of the five pending vested rights cases currently before it, at this writing is scheduled to hear oral arguments on Dec. 5, 2018. This is the case in which Governor Brown has taken a special interest in order to put a dent in the so-called “California rule,” the precedent that forbids public agencies from reducing pension benefits for current employees and retirees unless they provide additional compensation to offset the loss of income. POB will be monitoring.

Health Service System

Open enrollment is completed, and we hope that the plan you selected proves satisfactory. If not, please direct any problems or complaints directly to HSS. The plans contain performance ratings, and we want to ensure that you are receiving the best care. If you have not done so already, please be sure to get your flu shot.

SFERS Retirement Board

SFERS projects that investment returns for October declined approximately -3.25%. The sharpest decline was in public equity—36% of the assets—by -7.06%. Uncertainty about the election results, trade disputes with China, and rising interest rates all contributed to the sharp decline in stocks. The Absolute Return portfolio, a hedge against a down market, declined by approximately -1.25%, but is still positive on a calendar year basis.

Protect Our Benefits

While you’re here, browse our website, which has substantially improved in relation to our history and our mission.

More importantly, sign-up for our newsletter, which includes online advocacy campaigns. Be the first to know when our benefits may be threatened, along with what you can do to help!

From all of us at POB, warmest wishes to you and your loved ones for a happy Thanksgiving, holiday season, and new year.

Your continuing contributions are greatly appreciated, and they are tax deductible. Please mail them to Protect Our Benefits Trust, P.O. 2120250, San Francisco, CA 94121-0250, or click here to donate today.

Remember: “United we stand: divided we fall.”

By Skip McKinney

 

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.

2018-11-21T10:30:11+00:00November 21st, 2018|Newsletter|