Greetings Fellow REA members!
I hope your summer is safe and relaxing. A special welcome to the 71 new REA members who have joined REA since July. When I joined REA in 2005, we had around 1,100 members. Now we’re over 1,700. I hope our new members will join our virtual Zoom meetings and come to our in-person meetings when we resume them in the future. For those who are new, be advised that our Board of Directors recently adopted a policy that to attend any in-person REA meeting or event, you must be vaccinated.
We had a good turnout for our August meeting. I briefed our membership on the negotiations between the City and the several employee unions over Prop B issues. These discussions are going well but will likely take at least another couple of months. SDCERS CEO Gregg Rademacher informed us that the SDCERS’ investments earned 24% in FY 2021, far exceeding the system’s target of 6.5%. The Trust Fund’s value is, for the first time, more than $10 billion. That is great news. Our August program was Elected SDCERS Retiree Representative Charlie Hogquist. He presented another of his remarkable stories about the history of San Diego.
Join us for our September 14th Zoom meeting to hear about the exciting future of the Airport.