SamCERA has updated its contribution rates for members and employers, effective July 2024.
Month: June 2024
2024 SamCERA Board of Retirement Election Results
The 2024 Board of Retirement election was held on on June 10, 2024. Katherine O’Malley was reelected to the General Member Second Seat, Robert Raw was reelected to the Safety Member Seventh Seat, and April DeCarsky was reelected to the Alternate Safety Member Seat.
Elected Board Member Profiles
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Katherine O’Malley is a Principal Appraiser and was hired in 2012 by the Assessor-County Clerk-Recorder & Elections Department. This is her third term on the Board of Retirement after being first elected to the Board in 2018.
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Robert Raw is a sergeant, who has been with the Sheriff’s Department since 2012.This is his third term on the Board of Retirement.
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April DeCarsky is a Deputy Probation Officer III with the Probation Department.This will be her first full term on the Board of Retirement. She was first elected to serve a partial term as Safety Alternate in 2023. In this role, she substitutes in the absence of the Second, Third, or Seventh Member. Additionally, if the Eighth Member and Retiree Alternate are absent, she substitutes for the Eighth Member.
Additional Information
The elected Board Members will serve a 3-year term commencing July 1, 2024 and ending June 30, 2027. The next scheduled SamCERA Board of Retirement election will be in 2025, when the General Member Third Seat, the Retired Member Eighth Seat, and the Retired Member Alternate Seat will be up for election.
Board vacancies and election information are posted at www.samcera.org, and general information about the Board of Retirement can be found at www.samcera.org/board-retirement.
Board of Retirement Investment Information – June 2024
At its meeting on June 4, 2024, the Board of Retirement approved a $35 million commitment to Beach Point Capital Real Estate Debt Fund, L.P., as part of SamCERA’s debt portfolio within Real Estate under the Inflation Hedge category.
The Board also approved a $25 million re-up commitment to Quantum Energy Partners VIII, L.P., as part of SamCERA’s Natural Resources portfolio within Private Real Assets under the Inflation Hedge category.
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.
Retirees, join us at SamCERA on June 5th to learn all about your MySamCERA account
Location: SamCERA Boardroom 100 Marine Parkway, Suite 160 Redwood City, CA 94065
Date: Wednesday, June 5, 2024
Time: 2:00 p.m. – 5:00 p.m.
Join us at SamCERA on Wednesday, June 5th to learn all about your MySamCERA account and how to manage your pension.
Learn how to:
- Register for a new account
- View & print your 1099-R
- Generate a pension income verification letter
- Explore features on your MySamCERA account
Questions?
If you have any questions, please email samcera@samcera.org.
Board of Retirement Re-appointment & Vacancy
Vacancy
The Board of Supervisors is currently accepting applications for appointment to one position, Sixth Member, on the Board of Retirement at SamCERA. Deadline for applications is Friday, June 28, 2024 at 5 p.m. More information can be found on the Board and Commissions website here – https://www.smcgov.org/bnc/vacancies.
A total of four members of the Board of Retirement are appointed by the Board of Supervisors. These members must be qualified electors of the County and cannot be connected with County government in any capacity.
Appointed Board members serve for a fixed term of three years. In general, the Board of Supervisors limits their appointees to twelve years of service.
Re-appointment
At its June 11, 2024 meeting, the Board of Supervisors reappointed Elaine Orr as Fourth Member of SamCERA’s Board of Retirement for her second term. Elaine was initially appointed to the Board in 2021, and her new term will expire on June 30, 2027.
Elaine Orr is a CFA with experience as a retirement system trustee and board member. She was previously Director, Investments with Silicon Valley Community Foundation and has held various roles at BlackRock advising and building investment solutions for pensions, foundations and endowments. Elaine is currently serving as Board Secretary.