Author: planeteria

An important update is available for the MySamCERA mobile app

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The MySamCERA mobile app makes it easier for you to manage your pension account than ever before!

Existing Users: To continue using the app, you’ll need to download and install the latest version available in the Apple App Store and Google Play Store.

New Users: The new login and registration process is simple with an account registration wizard that will have you up and running in minutes. If you already have a MySamCERA login, your current credentials will work on the app, too. Download the app today to streamline your pension management and put your retirement details at your fingertips anywhere, anytime.

Apple App Store 

Google Play Store 

Your feedback matters

We’re always looking to improve the app experience. If you have any feedback to share, just tap the (?) icon at the top of your app to send us your thoughts in seconds. 

Need help?

For help with the mobile app or the MySamCERA member portal, you can call our office at (650) 599-1234 or email us at samcera@samcera.org.

Board of Retirement News

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2022 SamCERA Board of Retirement Election Results

The nomination period for the 2022 Board of Retirement election closed on May 2, 2022, at 5:00 p.m. Al David and Nicole McKay ran unopposed and were deemed elected to the Board, while Alma Salas was elected to the Retired Member Seat at the Monday, June 13, 2022 election. 

Elected Board Member Profiles

Al David ran unopposed and was reelected to the General Member, Third Seat. He is a manager with the San Mateo County Information Services Department. He is also a retired Army Reserve Lieutenant Colonel. He was first elected to the Board of Retirement in 2008, and has since served three full terms and two partial terms on the Board. 

Alma Salas was newly elected to the Retired Member, Eighth Seat after previously serving as Retiree Alternate. Alma was a Probation Services Manager with the San Mateo County Probation Department before her retirement in 2013. She first joined the Board in May of 2001 and served as Board Chair during the 2004-05 fiscal year. She was elected in 2013 to serve as the Retiree Alternate and was reelected in 2016 and 2019. 

Nicole McKay ran unopposed for the Retiree Alternate Seat. In this role she substitutes in the absence of the Eighth Member. Prior to her retirement, Nicole worked for San Mateo County and the San Mateo Superior Court for more than 29 years, retiring as the Employee Relations Manager for San Mateo County’s Human Resources Department.

The elected Board Members will serve a 3-year term commencing July 1, 2022 and ending June 30, 2025. The next scheduled SamCERA Board of Retirement election will be in 2024, when the General Member Second Seat, the Safety Member Seventh Seat, and the Safety Member Alternate Seat will be up for election. 

June 7, 2022 Statewide Direct Primary Election

Sandie Arnott ran unopposed in the Statewide Direct Primary Election on June 7, 2022 and was reelected to serve as the San Mateo County Treasurer-Tax Collector for a four year term beginning January 1, 2023. By virtue of her office, she has served on SamCERA’s Board of Retirement since 2011, but was also active on the Retirement Board while serving as Assistant County Treasurer-Tax Collector. With this recent reelection, she will continue to serve on the Board through December 31, 2026.

Board of Retirement Appointments

At its meeting on June 14, 2022, the San Mateo County Board of Supervisors reappointed Kurt Hoefer as Ninth Member of the SamCERA ard of Retirement. Kurt Hoefer is the Chief Strategy Officer at Summitry. As an investment adviser and investment banker, he has provided strategic and financial advice to institutions and individuals. This Board of Supervisors initially appointed Mr. Hoefer to the Board of Retirement in 2016, and this will be his third term.

In addition, the Board of Supervisors are currently seeking a replacement for the Fifth Seat on the Board of Retirement, which is an appointed position.

The new terms for both appointments will expire on June 30, 2025.

Update (6/28/22): At its meeting on June 28, 2022, the San Mateo County Board of Supervisors appointed Kimathi Marangu to replace Ben Bowler as the Fifth Member on the SamCERA Retirement Board.  Kimathi currently serves as the Global Head of Prepaid for Visa, Inc. and his financial career includes working for Morgan Stanley, J.P. Morgan, Apple and Cartera Commerce. He has served on volunteer boards of the American Red Cross, the Stanford Business School Funds and others. In addition, Kimathi holds a Bachelor’s degree from Vassar College and an MBA from Stanford Business School.

Additional Information

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. 

In addition, SamCERA would like to thank outgoing Board Member, Paul Hackleman for his years of service and dedication.

Compensation Limits for 2023

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“Compensation limits” do not refer to restrictions on the amount of salary your employer can pay you.  Rather, this term refers the maximum amount of compensation SamCERA can take into account when determining your contributions and calculating your monthly pension benefit under your retirement plan. The two primary “compensation limits” that impact SamCERA members are:  1) Limits set forth In the Public Employees’ Pension Reform Act (PEPRA) which establish the maximum amount of compensation that can be used to calculate the pension benefits for Plan 7 members; and 2) Limits set forth in the United States Internal Revenue Code regarding the maximum amount of compensation that can be used to calculate the pension benefits of any SamCERA member, regardless of their plan.

Both of these compensation limits are adjusted each year pursuant to the provisions of the above-referenced statutes.  See below for the relevant 2023 compensation limits based on your plan and membership with SamCERA.

2023 Pensionable Compensation Limits for Plan 7 Members

Under PEPRA, SamCERA’s “Plan 7″ members are subject to pensionable compensation limits that are set by statute.

In 2023, the annual pensionable compensation limits for PEPRA members are:

  • General Plan 7 Members (County & Court): $146,042
  • General Plan 7 Members (Mosquito & Vector Control District): $175,250
  • Safety & Probation Plan 7 Members (County): $175,250

2023 IRS Compensation Limit

Regardless of your plan, the IRS sets a limit each year on the amount of compensation which can be used to calculate your monthly pension benefit.  This limit applies to all SamCERA members hired after July 1, 1996.  In 2023, the IRS annual compensation limit (for pension calculation purposes) is $330,000.

 

Questions? Please email samcera@samcera.org.

Retirees: 2022 Tax Forms Are Available Now

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1099-R tax forms were mailed on January 11, 2023 to the addresses we have on record for retirees. This form contains information about reportable income and taxable income from SamCERA for 2022. It will also reflect the amount of federal and California taxes that have been withheld, if any.

Access Your 1099-R Online

Your 1099-R is available online to view and print in the MySamCERA member portal.

After logging in, click on “My 1099R’s” in the navigation menu, and from there you have the option to view or print a copy of current and past 1099-Rs.

Coming Soon – The New MySamCERA Member Portal

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We’re excited to announce the new MySamCERA member portal will be available beginning September 11, 2023.

The new member portal experience will make it easier for you to manage your pension from your computer or laptop with just a few clicks of your mouse. 

Getting started:

Computer: Log in to the member portal at www.mysamcera.org.

Mobile Phone or Tablet: Download the MySamCERA mobile app. Available for both iPhone and Android.

With MySamCERA, you will be able to:

Active Members

  • Run a retirement benefit estimate
  • View and print your member statement
  • Review and update your beneficiary information

Retired Members

  • View and print current and past 1099s
  • View and print your benefit statement
  • Review your tax withholdings
  • Generate pension income verification statements

How to register for MySamCERA

New Users – To access MySamCERA for the first time, you’ll need your SamCERA ID. Look for the MySamCERA announcement email that will include this information.

Existing Users – Already have a MySamCERA login? You’ll use the same information to log in to the new member portal.

Need help?

If you need assistance, you can always contact our office at samcera@samcera.org or (650) 599-1234.

Board of Retirement Investment Information – September 2023

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At its meeting on September 26, 2023, it was reported that SamCERA made a $30 million commitment to Cerberus Institutional Real Estate Partners VI L.P., as part of SamCERA’s Private Real Assets portfolio within 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. 

Board of Retirement Investment Information – December 2023

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At its meeting on December 5, 2023, it was reported that SamCERA made a $10 million commitment to DCVC BIO III, L.P., as part of SamCERA’s Venture Capital portfolio within Private Equity under the Growth 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. 

Request for Proposal: Actuarial Consulting Services

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Overview

SamCERA has issued a Request for Proposal to solicit proposals from qualified actuarial firms to serve as an independent actuary to perform actuarial consulting. Actuarial consulting services are described in detail in the RFP document. Services will include (but are not limited to): 

  • An annual actuarial valuation and review of the Retirement Fund (commencing with the actuarial valuation for the fiscal year ending June 30, 2024;

     
  • An annual Disclosure Report pursuant to Governmental Accounting Standards Board (GASB) Statement No. 67 and GASB Statement No. 68 (commencing with the actuarial valuation for the fiscal year ending June 30, 2024); 

     
  • Two Triennial Experience Studies (for the periods July 1, 2023-April 30, 2026 and July 1, 2026-April 30, 2029).

Firms wishing to submit a proposal must meet the following minimum experience requirements:

  • The firm must be a professional actuarial services firm whose primary line of business includes providing actuarial services to public pension plans, or similar entities of substantial size. At a minimum, the firm must have performed actuarial services for defined benefit pension plans with assets exceeding five billion dollars ($5,000,000,000); 
  • All of the firm’s actuaries performing the work must meet the professional qualification standards of the American Academy of Actuaries; 
  • The Primary Actuary (Lead) and any supporting actuary performing the work must be an Enrolled Actuary, a member of the American Academy of Actuaries Qualification Standards, and an Associate of the Society of Actuaries; 
  • The Primary Actuary must have a minimum of ten years of experience as an actuary performing pension and consulting services experience analysis, valuation assignments and actuarial audit assignments for multi-employer retirement plans, GASB 67/68 disclosures, and other actuarial consulting services for public sector defined benefit retirement plans. In addition, the Primary Actuary must have experience with defined benefit pension plans falling under the County Employees Retirement Law of 1937 (CERL) and the California Public Employees’ Pension Reform Act (PEPRA); 
  • The firm must have all necessary permits and licenses; and 
  • The firm must provide its own work facilities, equipment, supplies and support staff to perform the required services. 

Proposal Submission Process

Proposals must be received no later than 12:00 p.m. (PST) on February 22, 2024.

Proposals must be submitted electronically to: proposals@samcera.org and the original and three hard copies mailed/delivered to:

SamCERA
Attn: Gladys Smith, Assistant Executive Officer
100 Marine Parkway, Suite 125
Redwood City, CA 94065

Schedule of Events is set forth in the chart below and may be subject to change.

EventDate
Release of RFPJanuary 3, 2024
Deadline for Written QuestionsJanuary 25, 2024
Release of Responses to Written Questions February 8, 2024
Proposal Due Date and TimeFebruary 22, 2024, by 12:00 p.m.
Notification of Presentations, if neededWeek of March 4, 2024
Finalist Presentation(s), if neededWeek of March 11, 2024
Selection by Board of RetirementMarch 26, 2024
Anticipated Contract Start DateApril 1, 2024

More Information

The following information can be found under “Related Links” on the right side of this webpage:

  • For more information and details about this request for proposal, please read the full RFP, attached as a PDF.
  • The Proposer Questionnaire, attached as Word file.