SAN FRANCISCO HEALTH SERVICE SYSTEM
Good news! The Health Service Board has returned to in-person meetings. The March Health Service was a hybrid in-person and virtual meeting. This practice will be reconsidered every 30 days. One of the topics was dealing with Delta Dental’s policies of payments to dentists. Also, HSS is always looking to improve membership in the SilverSneakers network. One of the major illnesses of our time is mental health care and the HSS is fully aware of the problem. Improving care for all, especially our first responders who have gone above and beyond the call of duty. Remember YOU are your best advocate for your health!! Website: sfhss.org or call (415) 554-1750 or (800) 541-2266.
SAN FRANCISCO EMPLOYEE RETIREMENT SYSTEM (SFERS)
As you know we live in a volatile world right now. Not only with Russia and Ukraine, the price of gasoline climbing into the stratosphere, and now the Federal Reserve’s plan for unwinding economic support. During the month, the energy sector generated positive returns as oil prices continued to rise while most sectors were negative with Communication Services and Information Technology the hardest hit. SFERS assets are down an estimated -4.50% over the first two months calendar of the year. SFERS has generated an estimated return of 2.31% over the fiscal year. SFERS estimated assets at the end of February are $35.3 Billion. There have been changes with our Retirement Board, Al Casciato has retired, he was replaced with Mr. A.J. Thomas (Local 21) who was appointed because he ran for the Retirement Board unopposed. This move was seamless. POB is looking forward to working with Mr. A.J. Thomas. And to Al Casciato thank you for your many years of service to the Retirement Board.
PROTECT OUR BENEFITS (POB)
POB wants to thank you for your support whether by donating funds or by sending a letter of support to the various Supervisors. I think they’re starting to hear us, if you haven’t done so yet here is the website: https://bit.ly/3HluyF8. It’s never to late add your name to the endorsement page https://fairnessforsfretirees.com/endorsements. As we mentioned we have become a broad coalition that wants to right a wrong. Some of the Supervisors are always inquiring about the cost. Well, the truth of the matter is, the cost to the fund would be minimal which is offset by the extra earnings of the Fund. Unfortunately, this is diminished by the passing of the beneficiary (5-10 years). Putting this aside, it comes down to this, THIS IS THE FAIR THING TO DO!!
UNITED WE STAND, DIVIDED WE FALL