SAN FRANCISCO HEALTH SERVICE SYSTEM
After months of hard work and coordinated effort, we’re proud to announce we now have nine supervisors who support putting our ballot measure on the November ballot. Thank you to everyone who has helped us reach this important milestone by reaching out to their supervisors and urging them to support our ballot measure to restore supplemental COLA for our older retirees. Look for the campaign to start rolling out in the few weeks when the Board of Supervisors votes to pass the Charter Amendment proposal and put it on the ballot. At that time, the ballot proposal will be assigned its ballot designation letter and we can hit the ground running. It’s taken us 11 long years to get to this point. It’s been an uphill journey since the beginning, fighting timelines, resistance from City Hall, and most recently COVID. But with our current coalition of supporters, friends, and labor allies we have finally prevailed. To find out more about the ballot initiative and what you can do to get involved, go to the campaign website: www.FairnessforSFRetirees.org. Stay tuned for the next steps. It will take all of us to get this important ballot passed in November.
SAN FRANCISCO EMPLOYEE RETIREMENT SYSTEM (SFERS)
For the past several months all of us have witnessed a crazy financial world turned upside down. You could point fingers all over; geopolitical tensions, Monetary policy tightening, wage inflation, and rising costs in commodity prices. During the month of May, SFERS’s assets were down an estimated -0.71%. For the calendar year, SFERS assets are down an estimated -8.27%. SFERS has generated an estimated return of -1.72% over the current fiscal year. SFERS estimated at the end of May are $33.5 Billion.
PROTECT OUR BENEFITS (POB)
According to our Health Service System, we are experiencing yet another surge of COVID in the Bay Area. This “bug” will be with us for a while. With different variations being hatched all the time. Do your best to be prepared whether it be vaccinations, rapid test kits, masks, or access to medical care; whatever works for YOU. The Rates and Benefits have been finalized and sent to the Board of Supervisors for approval. As part of ongoing Medicare Advantage Plans and regarding the future state of retiree health care the HSS Board has had speakers address the subject of geriatrics, nursing homes, and home-based care. Good news for our first responders; dialogue with Kaiser Permanente, Blue Shield of California, and Health Net regarding the possibility of including the International Association of Fire Fighters (IAFF) Substance Use Treatment Center as part of their respective networks. As always questions? sfhs.org. Be safe and well.
UNITED WE STAND, DIVIDED WE FALL