Retirement System, City Employees Board of Administration
Duties
Sole authority and judge under ordinances adopted by the City Council as to the conditions under which persons may be admitted to benefits under the San Diego City Employees' Retirement System (SDCERS). Exclusive control of the administration and investment of the SDCERS Trust Fund. Employ an actuary. Establish rules and regulations as necessary. Appoint a Retirement Administrator and such other employees as necessary. Administer the retirement plans of other public agencies who, subject to approval by the City Council, participate in SDCERS.
Appointment
Seven members appointed by Mayor and Confirmed by Council; One Ex-Officio member (City Manager or designee); Five members elected by their representative membership groups within SDCERS.
Term
Four (4) years; Two (2) term limit (eight years) for all except City Manager.
Composition
– Seven Members Appointed by the Mayor and Confirmed by Council
- Must have a college degree in finance, economics, law, business or other relevant professional certification
- Must have 15 years experience in pension administration, pension actuarial practice, investment management, real estate, banking or accounting
- Must not have any personal interests which would create a conflict of interest with the duties of a Board member and trustee
– City Manager or Designee (City Treasurer, Deputy or Assistant City Manager or person in a similar position who reports to the City Manager);
– Two General Members elected by the active General membership;
– One Police Safety Member elected by the active Police Safety membership;
– One Fire Safety Member elected by the active Fire Safety membership;
– One Retired Member elected by the Retiree membership.
Governed By
State Constitution, Article XVI, Section 17, as amended; San Diego City Charter, Article IX, Sections 141-149, as amended; San Diego City Charter, Article X, Section 1; and San Diego Municipal Code Chapter II, Article 4, Divisions 1-18, Sections 24.0100 - 24.1809, as amended.
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