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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
SAN FRANCISCO HEALTH SERVICE SYSTEM
SFHSS IS OPERATING IN A VIRTUAL ENVIORNMENT AND IS CLOSED TO THE PUBLIC. Once again COVID-19 is on everybody’s mind. The San Francisco Dept. of Public Health (DPH) is advising us on the precautions to take during these difficult times. SFHSS stays informed and abides by local health orders. One of the many discussions that the staff is addressing is how Medicare Advantage plans are meeting the needs of members and if there any significant gaps we should explore for solutions. Questions such as quality, costs, benefits administrations, and legal and policy guardrails. All these issues will have to addressed. Any questions? HSS phone numbers are: 628-652-4700 and the toll-free number is 800-541-2266. Any other concerns can be addressed to the sfhss.org website.
SAN FRANCISCO EMPLOYEE RETIREMENT SYSTEM (SFERS)
In November 2020 SFERS investments gained 5.51%, an especially high return in a single month for a diversified portfolio. November advances were powered by the news of a potential vaccine for COVID-19. Two vaccines are approved, and distribution is being worked out. Maybe we are getting to see the light at the end of the tunnel. For the five months into FY2020-21, SFERS portfolio has gained 12.71%. Our Public Equity and Private portfolios have posted sterling returns of 22.44% and 19.04%, respectfully, boosted by a robust recovery in equity prices after the March 2020 plunge. For eleven months of calendar 2020 in the books, SFERS portfolio has posted a solid return of 9.87%. 2020 has been some crazy year.
TAXES All this and COVID-19. It has been brought to our attention about possible deductions for you in your taxes. Mind you, this is just information. It should be verified by your tax accountant or representative. Everyone’s case is different. The “CARES” act temporarily waives required minimum distributions (RMDs) for all types of retirement plans (including IRA’s 401(k)s, 403(b)s, and inherited IRA plans) for calendar year 2020. This includes the first RMD, which individuals may have delayed from 2019 until April 1, 2020. Once again this is just information, POB is not in the tax accounting business.
PROTECT OUR BENEFITS BOARD
Once again it is that time of year where you get to wish for what you want. Well, what POB wishes for 2021: a healthy and safe New Year, successful vaccines, school openings, back to social gatherings, in-person meetings, employment for those who need it, and somewhat a change back to normalcy. And of course, the best of health to you and your families. Take care and be safe.
MERRY CHRISTMAS AND HAPPY NEW YEAR TO ALL!!
PROTECT OUR BENEFITS
P.O. Box 210250, San Francisco, Ca. 94121-0250
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UNITED WE STAND, DIVIDED WE FALL