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News

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.

Announcement
CEO Scott Hood

SamCERA’s new CEO

Scott Hood has been named Chief Executive Officer (CEO) of the San Mateo County Employees’ Retirement Association (SamCERA), effective Nov. 9, 2014. He succeeds David Bailey, who will retire in early 2015.

Since 2002, Hood served as SamCERA’s Assistant Executive Officer (AEO), managing the benefits, finance, information technology, communications and administrative staff of the association. Prior to becoming AEO, he served as SamCERA’s Information Technology Manager for two years.

Announcement

SamCERA’s Investment Return Assumption Lowered to 7.25%

SamCERA’s Board of Retirement has decided to reduce its long-term investment return assumption from 7.5% to 7.25%. The investment assumption—also called the “assumed earnings rate”—is the annual amount the fund is expected to earn through its investments in stocks, bonds, real estate, and other segments of its portfolio.