March 23, 2004 – Board Agenda

Closed Session – The Board will meet in Closed Session prior to Adjournment for a Conference with Counsel on Teamsters Local 856 vs. Board of Retirement (Coordinated Proceedings JCCP4049)

Adjournment

March 23, 2004 – Board Minutes, as amended

0403.1

Call to Order: Ms. Colson, Chair, called the Public Session of the Board of Retirement to order at 1:08 p.m., March 23, 2004 in SamCERA’s Board Room, Suite 125, 100 Marine Parkway, Redwood Shores.

0403.2

Roll Call: Mr. Bryan, Ms. Colson, Mr. Hooley, Mr. McMahon, Ms. Salas, Mr. Buffington & Ms. Tashman. Excused: Ms. Stuart & Mr. Lewis. Alternate Board Member: Ms. Arnott. Staff: Mr. McCausland, Mr. Clifton & Ms. Lamica. Counsel: Ms. Carlson. Consultants: Dr. Fracchia, Ms. Jadallah & Mr. Thomas. Custodian: Mr. Azfar & Ms. Jacobs. Retirees: 2, County: 1.

0403.3

Approval of the Minutes: Ms. Arnott submitted the following corrections to the Minutes: 0402.5.3 ¶1 L3: “She stated the doctor’s reports indicated Ms. Estrada could do her job with some modifications and suggested she ~~accept modified work,~~ continue undergoing physical therapy and take the necessary medications.”; 0402.8.2 ¶3 L2: “…the implementation of Ventura ~~Venture~~.” She also provided corrections to several punctuation marks. Motion by Salas, second by Bryan, carried unanimously, to approve the Minutes of February 24, 2004 as corrected.

0403.4.1

Oral Communications From the Board: Ms. Colson stated that she had called SamCERA’soffice on Thursday, January 29^th and was surprised to be informed by office voicemail that Staff was away on an offsite retreat. Mr. McCausland reported that the Staff participates in an annual retreat that focused this year on the budget initiatives for next fiscal year. In response to a question from Ms. Tashman, he noted that while the participation of all staff members is not mission critical, it provides an excellent opportunity for SamCERA’s civil service staff to accept ownership of our service priorities. It was noted that a sign was posted on the front door informing members of the retreat. Mr. McCausland stated that he will make certain that the Board, active and retired members have adequate notification of any future retreats via the website and newsletters.

Ms. Colson also stated that she was not formally notified of the changes in office hours. For public record, Mr. McCausland noted SamCERA’s new office hours are Monday to Friday, 8am-5pm.

Mr. McMahon reported that he attended the CALAPRS General Assembly, which covered a variety of interesting current topics, including: (1) the pros and cons of pension obligation bonds, (2) current litigation between the SEC and several mutual funds, and (3) LACERA’s $200 million settlement with Towers Perrin for an actuarial error.

0403.4.2

Oral Communications From the Public: John Murphy, representing SCORPA, noting Ms. Stuart’s absence, stated that due to the Board’s previous decision not to permit a retiree alternate, retirees were not represented on the Board today. Mr. Bryan reminded Mr. Murphy that every member of the Board represents retirees as a part of their fiduciary responsibility. Mr. Murphy stated that only Ms. Stuart was elected by retirees.

0403.5

Benefit & Actuarial Services

0403.5.1

Adoption of Consent Calendar: Motion by Bryan, second by Salas, carried unanimously to adopt the Consent Calendar as submitted, as follows:

Disability Retirements:

The Board finds that Patrick McCall is unable to perform his duties as a Deputy Sheriff, finds that his disability is Service Connected and, GRANTS his application for a Service Connected Disability.

The Board finds that Mercedes Bentley is unable to perform her duties as a Benefits Analyst, finds that her disability is Service Connected and, GRANTS her application for a Service Connected Disability.

The Board finds that Sandra Soomann is unable to perform her duties as a Benefits Analyst and, GRANTS her application for a Non-service Connected Disability.

Routine Actions: The Board ratifies the following actions taken by staff pursuant to the Board’s Delegation of Authority and the Regulations of the Board of Retirement:

Service Retirements:

McBirney, Mark

February 8, 2004 (from deferred)

Department of Public Works

Young, Carole

March 6, 2004 (from deferred)

Information Services Division

LaKamp, Linda

March 9, 2004 (from deferred)

Department of Public Health

Banez, Eulogio

March 13, 2004

San Mateo County Medical Center

Heavey, Robert

March 27, 2004

Information Services Division

Ligon, Ronald

March 27, 2004

Sheriff’s Department

Richardson, Geraldine

March 26, 2004

Human Services Agency

Goulart, Susan

March 28, 2004

Sheriff’s Department

Frangenberg, Robert

March 29, 2004 (from deferred)

Department of Pubic Health

Gloria, Robert

March 29, 2004

Department of Public Works

Hill, Carl

March 31, 2004

Sheriff’s Department

Murray, Jeanette

March 31, 2004

Municipal Court

Norbosh, Sherri

March 31, 2004

Probation Department

Santos, Abelardo

March 31, 2004

Controller’s Office

Taylor, Margaret

March 31, 2004

Department of Health Services Agency

Continuance of Benefits:

Gordon, Mary

Beneficiary of Leonard

Wiberg, Randy

Beneficiary of Leticia

Feitelberg, Regina

Beneficiary of Allen

Deferred Retirements:

None

Refunds for March 2004:

Davis, Spencer

G4 non vested

$8,491.93

Mora, Alciones

G4 non vested

$1,012.32

Poggi, Veronique

G4 non vested

$4,842.91

Rann, Nicole

G4 non vested

$4,104.86

Zent, Carol

G4 non vested

$4,032.22

Total Refunds for March 2004:

$22,484.24

Rollovers for March 2004:

Cahoon-Young, Barbara

G4 non vested

$8,692.53

Chan, Larry

G4 non vested

$1,588.65

Hannon, Willie

P4 non vested

$12,567.31

Holm, Patricia

G4 non vested

$1,891.23

Lee, Sem

G4 non vested

$2,486.29

Lopez, Alma

G4 non vested

$6,910.01

Sahourieh, Jessica

G4 non vested

$8,283.82

Waring, Ashley

G4 non vested

$2,175.17

Total Rollovers for March 2004:

$44,595.01

0403.5.2

Consideration of items removed from Consent Calendar: None.

0403.5.3

Selection of Actuary: Mr. McCausland reported that Staff contacted references for each of the three actuarial finalists and received excellent reviews for each of the firms. The only negative comment related to a firm’s inability to meet a particularly tight deadline. Ms. Colson stated that she would like to have Staff automatically contact references for vendor finalists prior to their respective interviews in the future. After extensive discussion, without objection, the Board eliminated Segal from consideration based in part on pricing. After further discussion, motion by Bryan, second by Buffington, failed with four ayes (Bryan, Buffington, Colson &Tashman) to three noes (Salas, McMahon & Hooley) to select Public Pension Professionals as the Association’s new actuary. Without objection, Ms. Colson continued the actuary selection process to the April 27^th Board meeting.

0403.6

Investment Services

0403.6.1

Acceptance of Monthly Portfolio Performance Report: Mr. Clifton presented the monthly report.

Asset Class

Market Value

1-Month

1-year TTWRR

5-year TTWRR

Domestic Equity

$778,079,331

1.29%

44.28%

2.77%

International Equity

229,947,994

2.03%

50.02%

2.3%

Total Equity

1,008,027,325

1.46%

45.54%

2.55%

Fixed Income

387,380,964

1.15%

5.19%

7.24%

Real Estate Aggregate

58,266,495

0.74%

11.37%

10.00%

Cash Equivalents

3,043,890

0.19%

2.30%

Total Fund

$1,456,718,674

1.34%

30.46%

5.22%

Benchmark

1.34%

31.10%

4.29%

Without objection, Ms. Colson accepted the report.

0403.6.2

Acceptance of Criteria to be Employed in SamCERA’s International Equity Manager Searches: Ms. Jadallah reviewed the proposed criteria and screening steps for the International Equity Manager search. She stated that the goal is to find core value and core growth firms. She stated that they are searching for firms with strong emerging markets exposure for a better benchmark fit. It was noted that within the candidates’ report, they must provide an explicit description on currency management and hedging methodology, detailing how their firm applies them to emerging markets. Ms. Colson requested that SIS provide a detailed report noting the reasons behind any candidate’s elimination from contention. Motion by Bryan, second by Buffington, carried unanimously to accept the criteria and screening steps for SamCERA’s International Equity Manager search.

0403.6.3

Selection of finalists for SamCERA’s Domestic Equity Small Cap Value & Growth Manager Structure: Mr. Thomas reported that the Investment Committee had discussed the pros and cons of each of the finalists in Small Cap Value and Small Cap Growth to cut the contestant group to 2 candidates for each>Motion by Bryan, second by Salas, carried unanimously to approve the finalists for Small Cap Value & Growth Manager Structure. The Board will conduct interviews with the Small Cap Value finalists on Tuesday, April 27^th in the morning. The interviews for Growth finalists will be held that afternoon.

0403.6.4

Approval of Transition Management Strategy: Since the Board will be hiring new active managers, Mr. Clifton noted that the appointment of a Transition Manager will allow the movement of assets from the legacy to target portfolios in the most prudent fiduciary manner. Mr. Clifton stated that both State Street, and BGI are well positioned to manage the transition. Mr. Clifton stated that the Board might want to ask the investment management candidates their opinion on the matter. Without objection, Ms. Colson accepted the report.

0403.6.5

Acceptance of SamCERA’s Standard Investment Manager Agreement: Mr. Clifton presented SamCERA’s Standard Investment Manager Agreement which will be sent to the Small Cap Value & Growth finalists upon Board acceptance. Mr. Clifton stated that it was important that the finalists review and understand the issues prior to their interviews so that they will be able to notify the Board early on of any unacceptable language. Motion by Bryan, second by Hooley, carried unanimously to accept the Standard Investment Manager Agreement.

0403.6.6

Acceptance of Bank of Ireland Asset Management's Contract Extension: Mr. Clifton reported that the Investment Management Agreement between the Board and Bank of Ireland Asset Management is scheduled to expire on April 30, 2004. He stated that extending the contract will allow adequate time to work through both the international manager structure and the transition of assets. Motion by Bryan, second by Salas, carried unanimously to extend Bank of Ireland Asset Management’s Agreement until October 31, 2004.

0403.6.7

Acceptance of State Street Bank & Trust's Contract Renewal: Mr. Clifton reported that Staff entered into fee negotiations with State Street Bank to extend their current contract set to expire April 30, 2004. He stated that there have been no major changes in the contract and that the same pricing schedule from 1999 will be put in place. Mr. Clifton introduced Karen Jacobs from State Street to the Board. Ms. Colson informed Ms. Jacobs of the Board’s concern regarding State Street’s proposed 5% annual escalator. In response to a suggestion that the escalator be set at the lower of the annual increase in CPI or 3%, Ms. Jacobs indicated that State Street will forward a revised proposal to Staff. Mr. Buffington suggested that the contract explicitly indicate Bay Area CPI. Without objection, the acceptance of State Street’s contract renewal was put over until the next Board meeting.

0403.6.8

Acceptance of Deutsche Asset Management, Inc.’s Contract Renewal: Mr. Clifton reported that DeAM had requested the ability to cross client trades. He stated that SIS recommends that the Board not permit them to do so. Motion by Salas, second by Hooley, carried unanimously to accept Resolution 03-04-12, renewing Deutsche Asset Management Inc’s contract agreement:

Whereas, Article XVI, §17 of the Constitution of the State of California vests the Board with "plenary authority and fiduciary responsibility for the investment of moneys and the administration of the system"; and

Whereas, Government Code §31595 vests in the Board ". . . exclusive control of the investment of the employees retirement fund."; and

Whereas, Government Code §31596.1 (d) authorizes the Board to retain investment managers ". . . in connection with administration of the Board's investment program . . . "; and

Whereas, on February 23, 1995, the Board reviewed proposals and interviewed representatives from five firms proposing to perform fixed income investment management services for the Board, and the Board selected the firm of Deutsche Asset Management Investment Services (DeAM) then known as Morgan Grenfell Investment Services Limited (MGIS); and

Whereas, Board Resolution 94-95-25 approved the contract between the Board and DeAM for an initial term of three-years, effective March 31, 1995, and Board Resolution 97-98-19 extended the Agreement for an additional three-year term, effective April 28, 1998; and

Whereas, on June 1, 2000 the Board executed a letter of sub-delegation that permits Deutsche Asset Management Investment Services Ltd. to appoint Deutsche Asset Management, Inc.(DAMI) to manage a portion of the San Mateo County Employees’ Retirement Association account; and

Whereas, Board Resolution 00-01-04 approved the contract extension between the Board and DAMI for a term of three-years, effective March 31, 2001; and

Whereas, the contract has been approved by County Counsel as to form and the Investment and Finance Manager has recommended approval of the contract. Therefore, be it

Resolved that the Board hereby approves the contract between the Board, Deutsche Asset Management, Inc. (DAMI) for a term of three years, cancelable by either party on thirty days notice. Be it further

Resolved that the Board hereby delegates full discretionary authority to Investment Managers to manage the assets of the Retirement Fund as allocated by the Board in accordance with the terms of the contract, the Investment Plan (as incorporated into the contract), and applicable law governing the conduct of fiduciaries entrusted with the management of public employees' retirement funds. Be it further

Resolved that the Board hereby approves the fees as specified in the contract and authorizes the disbursement of funds as provided for in GC§31596.1 in accordance with SamCERA's internal controls. Be it further

Resolved that the Board hereby authorizes the Chair, to execute the contract on behalf of the Board. Be it further

Resolved that the Board hereby designates the Chief Executive Officer as its designee to perform those functions so identified in the contract and hereby authorizes the Chief Executive Officer to take all actions necessary to initiate, implement and monitor assignments, approve payments and provide the Board with timely reports regarding the progress and satisfactory completion of the assignments authorized pursuant to the contract.

0403.6.9

Acceptance of INVESCO Realty Advisor’s Compliance Certification Statement: Mr. Clifton reported that Staff had received INVESCO’s response to SamCERA’s questionnaire and Compliance Certification Statement (CSS) as part of the Association’s on-going due diligence. He stated that he found no irregularities in any of INVESCO’s responses. Without objection, Ms. Colson accepted the report.

0403.6.10

Approval of Written Consents of Sole Stockholder/Shareholder in Lieu of Annual Meeting: Motion by Bryan, second by Tashman, carried unanimously to authorize the Chair to sign the Written Consents of Sole Stockholder/Shareholder in Lieu of Annual Meeting.

0403.7

Board & Management Support Services

0403.7.1

Acceptance of Monthly Financial Reports: Mr. Clifton presented the Preliminary Financial report for the period ending February 24, 2004. He reminded the Board that $604,000 in “Other Expenses” represents attorney fees as part of the Ventura Settlement. Without objection, Ms. Colson accepted the report.

0403.7.2

Introduction of SamCERA’s Fiscal Year 2004/2005 Budget: Mr. Clifton introduced and reviewed SamCERA’s 2004-2005 proposed Budget. He stated that the Board will see the budget again in April and then again in May for passage. He stated that the Staff welcomes any Board recommendations and changes to the budget.

Ms. Colson expressed her concern over the terminology used when discussing the Medicare Part-B Reimbursement Program. She stated that the term “suspend” should be substituted for “terminate” throughout the document when describing the Board’s decision to stop funding the benefit. She also expressed her concern that Staff had halted enrollment into the program even though the program has yet to end. She felt that the 2 or 3 month worth of benefits remaining would still be quite beneficial to some retirees and instructed Staff to reopen enrollment.

Ms. Colson also requested a status report on the cost of, and work completed pursuant to, the editorial services contract with Maryann Gutoff.

Mr. Hooley requested that Staff insert a historic staffing matrix into the Budget, charted by position.

0403.7.3

Introduction of Ventura Implementation Contingency Budgets: Mr. Clifton requested approval of the VenturaBudget in order to allow Staff to undertake Ventura implementation. Motion by Bryan, second by Salas, carried unanimously, to adopt Resolution 03-04-13 as follows:

Whereas, On March 19, 1995, Teamsters Local 568 brought a writ of mandate against the Board of Retirement seeking an order from the Court requiring the recalculation of pension benefits in light of the Supreme Court’s decision in Ventura County Deputy Sheriff’s Association vs. Board of Retirement of the Ventura County Employees’ Retirement Association “Ventura”

Whereas, The Association retained an actuary to estimate the financial impact of a range of possible decisions in the Teamsters Local 856 litigation. A $32,145,000 reserve, called the Ventura Reserve, has been established to set aside funds for this contingent liability and its implementation.; and

Whereas, judgment has been entered in the Teamsters Local 856 that requires the recalculation of pension benefits of members whose applicable final compensation measurement period occurred in whole or in part prior to October 1, 1997 and who were receiving benefits on or after March 19, 1995, to be consistent with the requirements of the decision in Ventura.

Therefore, be it

Resolved, that the Board hereby adopts the following budget to cover the entire expense of the

implementation of Teamsters Local 856 vs. Board of Retirement, San Mateo County, which expenses shall be charged against the earnings of the Ventura Reserve:

Budget Item

Budget

(000)

Salaries & Benefits

$182.2

Services & Supplies

88.0

Fixed Assets

0.0

TOTAL

$270.2

Resolved, that the Chief Executive Officer is hereby authorized to implement the expenditure of funds authorized by this approved Budget in accordance with his Delegation of Authority; be it further

Resolved, that the Controller or the Custodian is hereby authorized to disburse funds on behalf of the Board for expenditures which are in accordance with this adopted Budget.

0403.7.4

Acceptance of Report on the Prepayment of the County’s Contribution for FY 2004-2005: Mr. Clifton presented the report on the County’s prepayment of $75,304,751 in employer contributions for fiscal year 2004-2005. He stated that the Board of Supervisors had initially authorized the prepayment of the County’s estimated annual contributions a few years ago in a desire to save money. The advanced lump sum payment is discounted by the actuarial interest rate (currently 8.00%). Ms. Colson felt it prudent that the Board get a written confirmation from the County, verifying their intention to prepay their contributions for fiscal year 2004-2005. She also requested that a copy of the confirmation be sent to the County Manager’s office.

0403.7.5

Authorization to obtain Fiduciary Liability Insurance upon expiration of current policy: Mr. Clifton reported that he had met with Priscilla Morse from Risk Management to discuss Fiduciary Liability Insurance. He noted that the insurance helps protect the assets of the fund from any expenses and awards resulting from litigation. Ms. Morse will contact the Association’s current provider for a quote and will return with this information at April’s Board meeting. Should any Board member have further questions regarding Fiduciary Liability Insurance, Ms. Colson indicated that she will be collecting them to send to Ms. Carlson. Ms. Carlson stated that she would be more than willing to further discuss Fiduciary Liability Insurance at a future Board meeting. Motion by Salas, second by Hooley, carried unanimously to authorize the Investment & Finance Manager to work with the County Risk Manager to arrange for fiduciary liability insurance coverage effective upon expiration of the current policy.

0403.7.6

Nomination of State Association of County Retirement Systems Officers: Ms. Colson asked if the Board wished to add any nominees to the slate proposed by the SACRS Nominating Committee. Without objection, Ms. Colson accepted the slate as submitted.

0403.8

Approval or Acceptance of Reports

0403.8.1

Chief Executive Officer's Report: Mr. McCausland presented the interest policy plumbing diagram to the Board in preparation for the April Interest Crediting workshop with Ira Summer. He encouraged the Board to amend its interest crediting policy to provide for the crediting of interest to member accounts on June 30, 2004.

Regarding the enrollment closure for the Medicare Part-B Reimbursement Program, Mr. McCausland stated that it had been his administrative decision in order to prevent a large influx of applications from bogging down a staff that is currently already working at maximum capacity. Ms. Colson expressed the Board’s belief that any qualified retiree is entitled to enroll and receive this benefit, despite the program’s very imminent suspension. Without objection, Ms. Colson instructed Mr. McCausland to permit retirees to enroll in the Medicare Part-B Reimbursement Program until its suspension in June.

Mr. McCausland also noted that he is in the process of producing a memorandum with Mary Welch to be sent to all active and deferred members regarding domestic partnerships. He reported that, with the passage of Assembly Bill 205, persons registered with the Secretary of State as domestic partners will be entitled to SamCERA surviving spouse retirement benefits effective January 1, 2005. In response to a question from Mr. Hooley, Mr. McCausland recommended that the Board authorize two actuarial studies as of June 30th, one with and one without the domestic partners factor. Ms. Carlson noted that the memo will indicate that employees must register with the Secretary of State and not merely the County in order to receive the benefits. She also stated that the memo is being sent out immediately because the 1937 Act requires a member to be married at least 1 year prior to their retirement date for their spouse to receive any spousal retirement benefits. It was noted that members may need to adjust their retirement date accordingly.

In response to Mr. Bryan’s question regarding the current status of ARC time, Mr. McCausland reported that the Board of Supervisors has not yet approved implementation of the legislation. He stated that the County Controller’s office is the lead agency in charge of the project and that they currently have a contract with Mercer to conduct an actuarial study. The Controller’s office has yet to receive the results from the ARC study.

0403.8.2

Assistant Executive Officer’s Report: Mr. McCausland noted that Mr. Hood is on a temporary assignment in Korea.

0403.8.3

Investment & Finance Manager’s Report: Mr. Clifton distributed reports for Deutsche Asset Management, Bank of Ireland Asset Management, and Strategic Investment Solutions. Mr. Clifton also reported that he had met with Morgan Stanley Capital International (MSCI) and was shown their proposed new benchmark. He stated that MSCI possessed a robust benchmark for tracking the fund. He noted that MSCI was scheduled to meet with SIS the next day. Mr. Clifton then reported that he received the Private Placement Memorandum (PPM) for INVESCO’s Core Real Estate and that the Investment Committee will discuss the matter as an April agenda item. Mr. Clifton then notified the Board that there will be a CALAPRS Trustee Roundtable on June 4, 2004 in Ontario, CA. He requested that Board members notify him should they wish to attend. Mr. Clifton also invited trustees to attend a seminar hosted by Frank Russell on Thursday April 29, 2004 which will be discussing (i) Rebalancing and Managing Asset Allocation Policy, (ii) Transition Management, (iii) Portable Alpha, and (iv) How to Identify Successful Managers.

0403.8.4

County Counsel's Report: None.

0403.8.5

Report on Actions taken in Closed Session: Ms. Colson reported that the Board had met in Closed Session at Noon, with all trustees present for roll call in attendance, plus Mr. Lewis. The Chair appointed an Ad Hoc Chief Executive Officer’s Performance Review Committee of Mr. Hooley, Chair, Ms. Colson, Ms. Salas & Ms. Tashman. There being no further business, Ms. Colson recessed the Closed Session at 1:00 p.m.

Mr. McCausland reported that Ms. Colson had re-convened the Board in Closed Session at 3:10 p.m. with all trustees present for roll call in attendance. The Board conferred with Counsel on Teamsters Local 856 vs. Board of Retirement (Coordinated Proceedings JCCP4049). The Board authorized Counsel to report to the Court that SamCERA will:

1. Recalculate and pay Ventura-pay based benefits in accordance with the requirements set forth in the writ of mandate.

2. Calculate and collect arrears contributions from those retired members, survivors and beneficiaries who receive enhanced Ventura-pay based benefits.

3. Calculate such contributions as the present value of the member's share of the cost of the base service retirement benefit enhancement.

There being no further business, Ms. Colson adjourned the Closed Session at 4:12 p.m.

0403.9

Adjournment in Memory of the following Deceased Members: There being no further business, Ms. Colson adjourned the meeting at 4:13 pm, in memory of the following deceased members:

Dean, Dorothy

November 1, 2003

Beneficiary Of Harry

Gordon, Leonard

February 8, 2004

Sheriff’s Department

Lee, Vernon, Sr.

February 15, 2004 (Active Member)

Information Services Division

Schiell, Jacqueline

February 18, 2004

Coroner’s Office

Wiberg, Leticia

February 19, 2004

Crystal Springs Rehab. Center

Cohen, Grace

February 22, 2004

Department Of Mental Health

Fleurant, Lucien

February 22, 2004

Department Of Mental Health

O’brien, Linnea

March 1, 2004

Sheriff’s Department

Johnson, Cheryl

March 2, 2004 (From Deferred)

Treasurer’s Department

Fitzgerald, E.G.

March 5, 2004

Assessor’s Department

Daniel, Robert

March 7, 2004

Department Of Engineer & Roads

Sweeney, Janine

March 14, 2004

Library Department

Donna Wills Colson, Chair

Top
Minutes Index

The information in SamCERA's web site is general in nature and is not considered a legally binding interpretation, enlargement or amendment of the provisions contained in the County Employee's Retirement Law of 1937 or by-laws of the Board of Retirement. Although considered accurate, information within the site is limited and, should there be an inconsistency between the web site and the governing law, the law will govern.

E-Mail:samcera@samcera.org - Tel:(650)599-1234 - Fax:(650)591-1488 - Hours:M-TH 7am-6pm
Address: 100 Marine Parkway, Suite 125, Redwood Shores, CA 94065-5208 - InterOffice Pony: RET141