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 WHOSE GOALS ARE TO ENHANCE THE DIGNITY AND QUALITY OF LIFE OF ALL SAN FRANCISCO AND COUNTY RETIREES AND PRESERVE THEIR HEALTH AND RETIREMENT BENEFITS.
FROM THE EXECUTIVE BOARD OF PROTECT OUR BENEFITS, Inc.
SAN FRANCISCO HEALTH SERVICE SYSTEM
SFHSS hosted on Dec. 6, 2022, an event with Health Plans, they contracted Mental Health Services Experts, key city department leaders, and SFHSS staff to enhance our collective understanding of the mental health needs of our members, as well as current and future state services. They plan to provide a full report to the Health Service Board in February 2023. It has come to POB‘s attention that United Health Care has dropped the Silver Sneakers Program. The new program is ReNew Active. Contact HSS to get the new code to operate. This just pertains to United Health Care members. Contact HSS Wellness Center 1-(628) 652-4650. Toll-Free 1-(800) 541-2266 or sfhss.org. Be safe and well.
SAN FRANCISCO EMPLOYEE RETIREMENT BOARD SYSTEM (SFERS)
As of December 31, 2022, SFERS Total Fund Value was $32.6 Billion. Fiscal Year to Date 2022-2023 we’re at -0.91% earnings.
2022 was a challenging year across most markets. SFERS total fund value was down -1.01% for the month of December, bringing its 2022 return to -10.12%. In comparison, the S&P was off 5.90% in December bringing its 2022 return to -19.44%!! The Dow Jones Industrial Average lost 4.17% for the month and was down 8.78% for 2022. The S&P Mid Cap dropped 5.72% for the month bringing its 2022 return to -14.48%.
Even though SFERS had a negative gain for 2022 its commitment to diversification (as volatility persists) and its ability to monitor and manage risk exposures has kept its losses to a minimum when compared to the major indexes.
PROTECT OUR BENEFITS, INC. (POB)
Always looking for a New and Better Year. POB is eager to pursue its goal of maintaining and protecting benefits for YOU, the retiree. POB started off the year in a meeting with the new CEO/CIO of SFERS, Allison Romano. We found the meeting very fruitful, discussing a wide range of financial subjects as well as POB’s purpose and goals. No one can accurately predict what the financial world will do, but we have been reassured that SFERS will do its fiduciary duties to do what is best for the Fund and you, the beneficiaries of that fund. Going forward, POB is planning how to approach 2023 and we’ll keep you up to date as we decide the direction we will take.
REMEMBER
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!