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News

Announcement

Board of Retirement Investment Information
2017 January Board Meeting

At its meeting on January 24, 2017, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Information
2016 December Board Meeting

At its meeting on December 6, 2016, the Board of Retirement approved up to a $10 million capital commitment to ABRY Senior Equity V, and a $20 million capital commitment to Great Hill Partners VI, as part of SamCERA’s allocation to private equity.

The Board also directed staff to begin implementation of a new asset allocation policy per the recently concluded asset liability study.  The new policy has a 9% reduction to growth assets, a 3% increase to diversifying assets, and a 6% increase to inflation hedge assets. 

Announcement

Board of Retirement Investment Information
2016 October Board Meeting

At its meeting on October 25, 2016, no board action was taken related to specific SamCERA investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Information
2016 September Board Meeting

At its meeting on September 27, 2016, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Appointments
Kurt Hoefer has joined SamCERA's Board, and Ben Bowler has been reappointed.

At its meeting on September 6, 2016, the San Mateo County Board of Supervisors appointed two positions on the SamCERA Board of Retirement.

Kurt Hoefer was appointed to the ninth seat on the Board of Retirement. He is a partner at Golub Group, LLC.  As an investment adviser and investment banker, he has provided strategic and financial advice to institutions and individuals. This is his first term on the Board.

Announcement

Board of Retirement Investment Commitments
2016 August Board Meeting

At its meeting on August 23, 2016, the Board of Retirement approved a $10 million capital commitment to Taurus Mining Finance Fund Annex, as part of SamCERA’s allocation to private real assets.

No further board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Commitments
2016 July Board Meeting

At its meeting on July 27, 2016, the Board of Retirement approved the hire of Quantitative Management Associates (QMA) for a Small-Cap Core mandate with an initial investment of $110 million.

The Board also approved the shift of SamCERA’s current commodity exposure (approximately $85-90 million) to a new custom liquid real asset strategy managed by State Street Global Advisors (SSGA).

Additionally, the Board approved a $10 million capital commitment to Angeles Equity Partners I, L.P., as part of SamCERA’s allocation to private equity.

Announcement

SamCERA’s Investment Return Assumption Lowered to 7.0%

SamCERA’s Board of Retirement has instructed its actuary, Milliman, to use 7.0% as the long-term investment return assumption to perform its annual valuation of the retirement fund for the fiscal year ended June 30, 2016. This is a reduction from the previous assumption of 7.25%.

The investment assumption, also called the “assumed earnings rate,” is the long-term annualized average return over a 30-year period that the retirement fund is projected to earn through its investments in stocks, bonds, real estate, and other segments of its portfolio.

Announcement

2016 Board of Retirement Election Results
The results are in from SamCERA’s June 2016 Board of Retirement election. Congratulations to Natalie Kwan Lloyd, Paul Hackleman, and Alma Salas.

General Member Seat

Natalie Kwan Lloyd has been reelected to the Third Member General seat. Ms. Kwan Lloyd received more votes than Al David and David Perron.

Retired Member Seats

The two retiree seats on the Board were also up for election this year. Both incumbents ran unopposed and were deemed elected. Paul Hackleman will thus return to the Eighth Member Retiree seat, and Alma Salas will return to the Retiree Alternate seat.

Announcement

SamCERA Awarded for Excellence in Financial Reporting

For the thirteenth consecutive year, the Government Finance Officers Association (GFOA) has presented SamCERA with an award for Outstanding Achievement in Popular Annual Financial Reporting.

The award recognizes SamCERA’s 2015 Popular Annual Financial Report (PAFR), which is a brief overview of SamCERA’s finances and investments. It’s the “Reader’s Digest” version of the Comprehensive Annual Financial Report (CAFR).

Announcement

Board of Retirement Investment Commitments
2016 June Board Meeting

At its meeting on June 7, 2016, the Board of Retirement approved a $35 million commitment to the Tennenbaum Capital Partners Direct Lending Fund VIII, as part of SamCERA’s Opportunistic Credit composite within Fixed Income. 

No further board action was taken related to SamCERA’s commitments.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Information
2016 April Board Meeting

At its meeting on April 26 and 27, 2016, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Notice of Vacancy
SamCERA Board of Retirement

Applications are being accepted for appointment to the SamCERA Board of Retirement. There are two (2) positions open for appointment by the Board of Supervisors for a 3-year term commencing July 1, 2016.

To be eligible, applicants must be a qualified elector of the County of San Mateo and not connected with San Mateo County government in any capacity.

For more information, click here to visit the San Mateo County Boards and Commissions Vacancies page, or paste the following link into your web browser:

Announcement

Board of Retirement Investment Information
2016 March Board Meeting

At its meeting on March 22, 2016, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Information
2016 February Board Meeting

At its meeting on February 23, 2016, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

SamCERA 2016 COLA
This year's cost-of-living adjustment (COLA) will be 2.0% or 2.5% for most eligible retirees and beneficiaries.

Because of an inflation rise in 2015, most SamCERA retirees and beneficiaries will receive a cost of living adjustment (COLA) of either 2.0% or 2.5% this year.

The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2016, and the amount of the COLA will depend on the retirement plan. The COLA for Plan 1 and Plan 2 is 2.5%, while the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 2016 benefit payments.

Announcement

Board of Retirement Investment Information
2016 January Board Meeting

At its meeting on January 26, 2016, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

Board of Retirement Investment Commitments
2015 December Board Meeting

At its meeting on December 15, 2015, the Board of Retirement approved a commitment of $25 million in CIM Infrastructure Fund II, as part of SamCERA’s allocation to private real assets. 

No further board action was taken related to SamCERA’s commitments.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting, and will be posted shortly thereafter. 

Announcement

2015 Board of Retirement Election Results
The results are in from SamCERA’s June 2015 Board of Retirement election. Congratulations to David Spinello, Susan Lee, and Shirley Tourel.

Safety Member Seats

David Spinello, a Sheriff’s Deputy, received more votes than Susan Lee, a Probation Officer. As a result, Mr. Spinello has been reelected to the Seventh Member Safety seat, and Ms. Lee has been elected to the Seventh Member Safety Alternate seat.

Announcement

Are you a San Mateo County Resident Interested in Serving on the Board of Retirement?

The Board of Supervisors are accepting applications for appointment to 2 positions on the Board of Retirement for a 3 year term commencing July 1, 2015. To be eligible, applicants must be a qualified elector of the County of San Mateo and not connected with San Mateo County government in any capacity.

Commands