What's new

 

Board of Retirement Meeting Information: May 7, 2021, 9:00 AM.
Materials: Meeting Agenda and Materials
Location: https://us02web.zoom.us/j/87246390678; or Call (669) 219-2599 or (669) 900-9128; Meeting ID 87246390678#

Board of Retirement Trustee Election Update
ROV Extends Filing Deadline for Retiree Election: Retired members now have until 5:00 p.m. on May 12, 2021, to submit their candidacy forms for the two Retired member seats (Eighth Seat and Alternate). Interested Retired members may contact the Registrar of Voters (ROV) at 209-468-8945 or by email at registrar@sjgov.org to obtain their candidacy forms. As of May 7, 2021 (the original filing deadline), three candidates were running for the Eighth Seat and no candidates were running for the Alternate seat. Because no incumbent filed to run, ROV extended the deadline to May 12.

Jennifer Goodman to Continue as Active General Member Trustee: Jennifer Goodman ran unopposed for the General Member Third Seat. Trustee Goodman has served on the Board of Retirement since July 1, 2017. Her new three-year term begins July 1, 2021.

Pension Administration System (PAS) Consulting Services RFP
Staff is currently evaluating the proposals with the intent of selecting the successful proposer by June 4, 2021.

Cybersecurity Auditing Services
Staff is currently evaluating the proposals with the intent of selecting the successful proposer by May 14, 2021.

Actuarial Auditing Services RFP
Staff is currently evaluating the proposals with the intent of selecting the successful proposer by May 7, 2021.

Alameda Decision (Updated 3/15/2021)
The California Supreme Court Alameda decision requires SJCERA to exclude from retirement benefit calculations stand-by pay, correctional briefing pay and employer contributions to deferred compensation. As of March 1, all retired members' monthly benefits have been adjusted to exclude employer-paid deferred compensation contributions and standby pay. Benefit adjustments related to the exclusion of correctional briefing pay are expected to be completed as of the April or May retirement benefit payment. Staff is working with affected members to establish reasonable repayment plans where appropriate.

As soon as SJCERA has completed its work on retired members' accounts, staff will then begin calculating Active and Deferred members' overpaid contributions on the three excluded pay types. Currently, staff estimates repayment of overpaid contributions to Active and Deferred members could begin by late summer 2021.

For more information about the Alameda Decision, visit SJCERA's Alameda Decision Information page.