Author: planeteria

Notice of Election

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SAN MATEO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION (SamCERA)

NOTICE OF ELECTION TO ELECT THREE MEMBERS TO THE BOARD OF RETIREMENT

Notice is hereby given that one GENERAL MEMBER is to be elected to fill the second position, and one SAFETY MEMBER is to be elected to fill the seventh position on SamCERA’s Board of Retirement. An Alternate Safety member will also be elected.

General Member Eligibility: Candidates must be active SamCERA General members. 

Safety Member Eligibility: Candidates must be active Safety or Probation members.

Alternate Safety Member Seat: For the purposes of this election, Safety membership is divided into two groups, Probation and Safety. The candidate for the Safety member seat who receives the highest total number of votes will be elected to the Safety member seat. The candidate who is in a different group from the candidate elected to the Safety member seat and who receives the highest number of votes of any candidate of that group will be elected as Alternate Safety member.

Member Terms: The General member, the Safety member and the Alternate Safety member shall serve from July 1, 2024 – June 30, 2027.

Declaration of Candidacy: This form will be available beginning Monday, April 15, 2024 through Monday, May 6, 2024. Qualified Candidates may obtain petition forms in person at: 

Registration & Elections Division Office of the Chief Elections Officer & Assessor-County Clerk-Recorder County of San Mateo 40 TOWER ROAD, SAN MATEO, CA 94402

Completed Declaration of Candidacy: This completed form must be filed in person with the Registration & Elections Division no later than 5:00 p.m. on May 6, 2024.

Please contact the Candidate Filing Representative by email at CandidateServices@smcacre.gov or call us at (650) 312-5222 if you have any questions or wish to make an appointment to file for candidacy.

The election will be held on MONDAY, JUNE 10, 2024 and will be conducted in accordance with Article 4 of the Regulations of the Board of Retirement. These regulations are available at the Elections Office or SamCERA’s website at: www.samcera.org.

 

____________________________________________ MARK CHURCH  Chief Elections Officer & Assessor-County Clerk-Recorder 

Board of Retirement Investment Information

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At its meeting on November 1, 2022, the Board of Retirement approved a $25 million commitment to Davidson Kempner Opportunities Fund VI LP, as part of SamCERA’s Debt-Related/Special Situations portfolio within Private Equity.

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. 

Important Dates and Information About the New 2023 W4-P

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The Internal Revenue Service (IRS) revised the W4-P federal tax withholding form in 2022. SamCERA will begin using the new IRS W4-P forms, which are for periodic payments only, on January 1, 2023. 

If you need to make new withholding elections or make a change to your current elections, it is important to use the correct form based on your submission date to prevent delays with your withholding elections.  

Submitted By 12/15/22: Please continue using the 2021 W4-P form for all tax withholding submissions/changes. SamCERA will reject any 2021 forms received on or after 12/16/22.

Submitted On or After 12/16/22: Please use the new 2022 or 2023 W4-P form for all tax withholding submissions/changes. SamCERA will reject all other forms submitted on or after 12/16/22. Please note, SamCERA will not be able to process any 2023 W4-P withholding elections until 1/1/23.

For more information, see the Tax Information page of the website which includes links to the current form to use and additional information about tax withholdings. 

Board of Retirement Investment Information – April 2024

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At its meeting on April 23, 2024, the Board of Retirement approved a $30 million commitment to TPG Angelo Gordon Credit Solutions Fund III LP, as part of SamCERA’s opportunistic credit portfolio within Fixed Income under the Growth risk category.

The Board also approved a $28 million commitment to Kinderhook Capital Fund 8, L.P., as part of SamCERA’s buyout portfolio within Private Equity under the Growth risk 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. 

Board of Retirement Investment Information – June 2024

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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

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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.

MySamcera meet and greet Wednesday June 5th 2pm to 5 pm

2023 Service Purchase Schedule

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Depending on your circumstances, you may be eligible to purchase service credit that can count toward your total years of service and may increase your retirement benefit. 

Purchase Request forms may be submitted for the purchase of Extra Help time, Plan 3 and Plan 5 service upgrades, certain military leave, unpaid sick leave, and parental leave. Returning SamCERA members can also make a Purchase Request for a redeposit of withdrawn funds. 

SamCERA members have two separate periods of time during 2023 to make service purchases. The process starts when the member submits a Purchase Request form. 

First Period

  • SamCERA begins processing Purchase Request forms: February 1, 2023
  • Deadline to submit Purchase Request Form: April 28, 2023
  • Deadline for all money to be received by SamCERA with agreement: June 1, 2023

Second Period

  • SamCERA begins processing Purchase Request forms: August 1, 2023
  • Deadline to submit Purchase Request Form: October 31, 2023
  • Deadline for all money to be received by SamCERA with agreement: December 7, 2023

You can find a copy of the SamCERA Purchase Request form on the SamCERA forms page.

Contact SamCERA for more information about service purchases.

Empower (formerly known as Mass Mutual) Plan-to-Plan Transfer

The 2023 deadlines to submit the Empower Plan-to-Plan Transfer to Purchase Service Credit form to San Mateo County Human Resources are:

  • May 18, 2023 by 12:00 PM (PST)
  • November 16, 2023 by 12:00 PM (PST)

For more information about an Empower Plan-to-Plan transfer, please contact benefits@smcgov.org.