City of San Diego Retired Employees Association
October 13, 2020
General Meeting Minutes
Meeting held via Zoom
President Dick Wilken greeted attendees and reminded them that the meeting would be recorded and posted on our You Tube channel. He informed members that if they want to review the Treasurer’s Report they can request one directly from Karen Butler via REA’s website.
The Nominating Committee reported that all four Board members up for reelection have agreed to continue in their positions. These Board members are: Brad Jacobsen, Secretary; Karen Butler, Treasurer; and Shirley Hall and Joan McNamara, Board members. These nominees will be voted on at the November meeting after accepting any nominations from the floor.
Dick gave an update on REA’s Image Enhancement Campaign. Our sponsorship of Carl Luna’s Restoring Respect conference, with keynote speaker Cindy McCain, was prominently noted throughout the event and its publicity. Similarly, Scott Lewis of Voice of San Diego prominently touted our sponsorship of their annual PolitiFest. Finally, REA is sponsoring editions of VOSD’s Morning Report through November.
The program was SDCERS’ annual report to REA. Chief Investment Officer Liza Crisafi reported that there was a lot of volatility in the markets this year but stocks rebounded in the fourth quarter (April-June). She reminded members that SDCERS invests for the long haul and that the ten-year rate of return is 8.6%. Deputy CEO Marcelle Rossmann reported on SDCERS’ response to the Covid pandemic. Initially, the call center had to be shut down for several weeks, but a remote call center has been established and member communications have been fully restored and that all goals, including pension distributions, are being met. CEO Gregg Rademacher gave a light-hearted look back to previous challenges to the retirement system and how it not only survived but became better. Member Services Director Cynthia Queen walked REA members through SDCERS’ Member Portal including a feature that will instantly generate a Proof of Retirement Earnings letter.