POB April Newsletter – POB Gaining Momentum
SAN FRANCISCO HEALTH SERVICE SYSTEM
There has been a change in leadership of Chief Operating Officer at the Health Service System, Mr. Rey Guillen has replaced Mitchell Griggs. Mitchell has been an asset to HSS, with his commitment to members, experience to improve access, inclusion and high-touch member services. POB wishes to acknowledge Mitchell Griggs’ fine work and wish him well in his new endeavors. POB wishes to welcome Mr. Rey Guillen and looks forward with working with him. Delta Dental has been a focus of concern with HSS. Retirees currently pay expense premiums with high deductibles and limited benefits; we’re hoping for some type of solution to the problem will be forthcoming. There has been a change in phone numbers concerning the Health Service System. They will no longer be answering the 415-phone number. The new number is 1-(628) 652-4700 The web-site is: https://shss.org/contact-us. Remember you are your best advocate for your health.
SAN FRANCISCO EMPLOYEE RETIREMENT SYSTEM (SFERS)
Many factors are affecting the global markets currently. SFERS has been monitoring global problems, inflation, monetary tightening, and soaring commodity prices. The Fund’s assets were down an estimated -4.12% in the first quarter of this year. But, for the fiscal year, SFERS has generated an estimated return of 2.72%. The Fund’s assets at the end of March are $35.2 Billion. There has been an announcement from by Mayor London Breed and Retirement Board President Ahsha Safai of the appointment of Alison Romano as Chief Executive Officer and Chief Investment Officer. There had been an extensive search to find a replacement for Jay Huish and Joe Croaker. Ms. Romano is currently Deputy Chief Investment Officer for the Florida State Board of Administration, where she has worked for the past 13 years. As Deputy Chief Investment Officer in Florida, she was responsible for strategic leadership and investment oversight across all asset classes of the State’s $200 billion pension fund and the $15 billion defined contribution program. Previously, she held positions at Goldman Sachs, last serving as Vice President of the Investment Banking Division, Healthcare. POB wishes to welcome Ms. Romano to her new position and looks forward to working with her. POB can’t thank Jay Huish enough. Jay Huish’s service to SFERS and his accessibility to POB was remarkable. We wish you well in your deserved retirement.
PROTECT OUR BENEFITS (POB)
Well, it looks like we’re coming into the home stretch of Phase One. Phase One being, getting the support of the Board of Supervisors to present the amendment to the full board so it can be placed on the ballot. Like anything else it comes down to the details, and the City is hashing over some of these details. Hopefully we will succeed. More about this later. POB is doing its best to overcome these issues. As always thank-you for your support, we continue to fight for the 4,572 of retirees who retired prior to November 6, 1996. When POB started out to correct this injustice, there were over 8500 retirees in this status. POB will continue to fight this injustice; THIS IS THE FAIR THING TO DO!
UNITED WE STAND, DIVIDED WE FALL