Resolution 95-96-05.as amended February 26, 2002

THIS RESOLUTION, adopted by the Board of Retirement (Board) of the San Mateo County
Employees' Retirement Association (SamCERA), sets forth SamCERA's Mission and Goals.

Whereas, Article XVI, '17(a) of the Constitution of the State of California states in part that "the retirement board...shall have plenary authority and fiduciary responsibility for investment of monies and administration of the system...;" &

Whereas, Article XVI, '17(b) of the Constitution of the State of California states in part
that "the members of the retirement board...shall discharge their duties...solely in the interest of, and for the exclusive purpose of providing benefits to, participants and their beneficiaries, minimizing employer contributions thereto, and defraying reasonable expenses of administering the system. A retirement board's duty to its participants and their beneficiaries shall take precedence over any other duty...;" &

Whereas, Article XVI, '17(c) of the Constitution of the State of California states in part
that "the members of the retirement board...shall discharge their duties with respect to the system with the care, skill, prudence, and diligence...a prudent person acting in like capacity and familiar with these matters would use in the conduct of an enterprise of like character and with like aims;" &

Whereas, Government Code '31520 vests the management of SamCERA in the Board; &

Whereas, the Board wishes to define its mission and goals so as to direct its efforts and the efforts of its staff in concert with the spirit of the law. Now, therefore, be it

Resolved, that the Board hereby adopts the following:

Mission
SamCERA exists to serve as Loyal Fiduciary for our Members, Retirees and Beneficiaries; &
to serve as Prudent Administrator of our County's Retirement System.

Goals
To provide caring, fair, accurate, timely and knowledgeable professional
service to our clients and our public.

To prudently manage the assets and appropriately fund the actuarial liabilities of the Retirement System,
so as to minimize the costs to our County,
while assuring our ability to pay all earned benefits.

To constantly improve the effectiveness of our services and
the efficiency of our operations.

Be it further Resolved, that the Board hereby agrees, and directs the Retirement Administrator, to adhere to the principles set forth herein in the management of the resources of the Association.

ADOPTED by unanimous vote, August 25, 1995

Amended by unanimous vote Febrary 20, 2002

Attest:
Tom E. Bryan, Secretary