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 is an organization who 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.
From the Board of Directors of Protect Our Benefits
San Francisco: As you well know San Francisco and the rest of the nation is basically in a shutdown. We’re all feeling the results of this emergency. The City’s NUMBER ONE FOCUS IS THE CORONAVIRUS!! POB is hoping you and yours are safe and well.
SAN FRANCISCO HEALTH SERVICE SYSTEM: Remains committed to serving our members. Their offices are closed, but they are processing New Hire Enrollments and Family Status Changes. You can fax your documents to (415) 554-1721. You can also reach them by leaving a voicemail message at (415) 554-1750. They will call back within 72hrs. Please be patient, they are working as diligently as possible to meet your needs. They are committed to serving the health and well-being of our members through these trying times.
SAN FRANCISCO RETIREMENT BOARD (SFERS) The Retirement Board approved a Basic Cost of Living Adjustment Miscellaneous Retirees and New Safety Retires of 2% effective July 1,2020. COVID-19 has impacted global markets over the short term so remember that SFERS is a long -term investor and they think in terms of decades-not days, weeks, or months. The SFERS investment portfolio is broadly diversified in order to respond to market volatility and uncertainty. SFERS is in better position to weather an economic downturn than they were in 2008. SFERS has stated members promised retirements benefits continue to be secure. In February 2020, SFERS substantially outperformed the stock market……
FEBRUARY 2020 S&P 500 WAS DOWN -8.41%
TOTAL PORTFOLIO OF SFERS WAS DOWN -1.94%
AS OF APRIL 2020, TOTAL PORTFOLIO OF SFERS WAS DOWN -1.5%
THIS SHOULD BE NOTED THAT THIS IS FOR THE FISCAL YEAR OF 7/1/2019 to 3/30/2020.
From 2017-2019, SFERS HAS OUTPERFORMED THE VAST MAJORITY OF SIMIAR PENSION SYSTEMS. During this time frame, SFERS earned 11.5% each year, which puts us in the top 5% of similarly sized pensions systems.
PROTECT OUR BENEFITS BOARD POB is still fighting to get the Charter Amendment on the ballot for the November 2020 election. There have been roadblocks because of the City government shutdown. Supervisors are working remotely, and we are relying on e-mails and video conferencing currently to attempt to gain the Supervisors support. We must get at least one Supervisor to place the Charter Amendment before the full Board of Supervisors by May 19, 2020. We will keep you updated. Keep the faith and stay well.
MORE THAN EVER…UNITED WE STAND DIVIDED WE FALL!!
REMEMBER THE BALLOT MEASURE PLEASE MAKE CHECKS PAYABLE TO
“RESTORE RETIRED CITY WORKERS EARNED BENEFITS”
Mail checks to S.E. OWENS & CO., 312 Clay St. Suite 300, Oakland Ca. 94607
Please Note Checks to the Ballot initiative ARE NOT TAX DEDUCTIBLE
STAY SAFE AND WELL
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.