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QUOTE OF THE MONTH

Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love what you are doing.
▪ Pele

RESDC General Membership Meeting
Wednesday, April 12, 2023
Meet the SDCERA “C-Suite”!

RESDC members and guests are cordially invited to join RESDC in the Board Room of the San Diego County Employees Retirement Association (SDCERA), as the leadership of SDCERA host a presentation and provide an overview of their work.

Come learn more about how SDCERA administers retirement, disability, and survivor benefits for more than 47,000 Members who are active, retired or former employees of the County (SDCERA’s Plan Sponsor) or one of SDCERA’s four Participating Employers (the San Diego Local Agency Formation Commission, the San Dieguito River Park Joint Powers Authority, the San Diego County Office of Education and the Superior Court of California – County of San Diego) or their beneficiaries.

This is your opportunity to hear from SDCERA leadership on the “State of SDCERA”. We hope you join us for this interactive and information session!

Make sure to stay tuned to the April Network for more details on this great event.

DATE: Wednesday, April 12th
TIME: 10:00 am – 11:30 am
LOCATION: SDCERA Office
2275 Rio Bonito Way
Suite 200 – Board Room
San Diego, CA 92108-1685

RSVP: To learn more about this presentation, including registration, visit: www.resdc.net/events or you can call our office at 619-688-9229. □

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PRESIDENT’S MESSAGE

By Chris Heiserman

I suspect the vast majority of the County’s nearly 18,000 retirees and beneficiaries receiving benefits from the San Diego County Employees Retirement Association (SDCERA) have never had occasion to call or visit the SDCERA offices in Mission Valley. RESDC monitors Board of Retirement meetings and gets fairly regular feedback from our members on their interactions with the SDCERA Call Center and sometimes association managers who respond to inquiries.

It has been our experience that SDCERA is doing a reasonable job managing our pension fund and is highly regarded in the crowded universe of state and local retirement systems in California. Still, maybe you wish you knew more about our pension fund, its finances and how it all works. Wouldn’t it be interesting to take a peek under the hood and have a professional “mechanic” explain in simple terms what makes it run? You are in luck. That very opportunity is available on Wednesday, April 12th, 2023 at our General Membership meeting at SDCERA Headquarters. Details on how to register for this unique event were in the March NETWORK and are also printed elsewhere in this newsletter.

Some general background on SDCERA and the retirement fund might be useful ahead of this special meeting. A good thing to know about all pension plans is their official reports are based on the previous fiscal year. For example, the flagship report card for retirement systems is their Annual Comprehensive Financial Report and the most recent version covers Fiscal Year 2021-22 ending June 30, 2022. The value of the SDCERA retirement fund and its funded ratio are affected significantly by investment returns, as well as changes in actuarial assumptions (like reducing the investment return projection from 7% to 6.5%). Many public sector retirement plans have gradually reduced their assumed rate of investment returns in recent years to more closely reflect lower market expectations. This will result in the need for higher contributions from the county and employees to cover future pension benefits.

In FY2021 the $16.1 billion fund was 80% funded; in the FY2022 financial report the net value of the fund was $14.5 billion, and it was only 76.7% funded. Even though the status of the retirement fund is officially reported on the basis of data looking back at a full fiscal year, the Board of Retirement continually monitors the current performance of the pension fund. At the February 16, 2023 meeting, the Board’s agenda included a quarterly investment update (4th quarter ending December, 2022) by a data analysis consultant firm, AON, detailing market conditions and outlining the performance of the SDCERA Trust fund. In this report the market value of the fund increased from $14.38 billion to $15.12 billion during the three-month period.

A high-level general comparison of major pension plans in California is available in the Public Plans Database (PPD), a website maintained through a collaboration between the Center for Retirement Research at Boson College and others. The database contains plan level data from 220 state and local pension funds. A chart listing 15 major California retirement systems displays their assets, participants and funding ratios. Among the 15 plans are the California Public Employees Retirement System (CalPERS), the California State Teachers Retirement System (CalSTRS), the San Diego County and Los Angeles County pension plans, and the City of San Diego plan (SDCERS). Again, the information source is the most recent official comprehensive financial reports (in this case, as of June 30, 2021). The funded status of these retirement funds in this report were:

CalPERS 70.6%
CalSTRS 73.0%
SDCERA 80.0%
LACERS 79.3%
SDCERS 74.3%

Looking at this list of major plans, a logical question might be, “Why are they only able to cover 70-80% of benefits that will be due their participants?” This brings up a term that appears in nearly all those comprehensive financial reports: Unfunded Actuarial Accrued Liability (UAAL). Simply, the difference between the available assets in the fund and the total projected benefit obligations that will be due pension plan participants.

Almost every public sector retirement trust fund has an entry in the UAAL column of its fiscal reports. Why are these retirement systems behind in fully funding these future benefits and how are they planning to catch up by the time today’s active workers become retirees? We can look forward to hearing some answers to this and other interesting questions at our General Membership meeting at SDCERA on April 12th. See you there. □

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SHINGLES VACCINE IS NOW FREE

By Chuck Brown, Director

Under the Inflation Reduction Act, which became a law in August 2022, you no longer have to pay out-of-pocket costs or deductibles for immunizations covered under Medicare Part D—including the shingles vaccine. The vaccination consists of two shots and typically the co-pay has been up to $200. The cost has dissuaded people from getting vaccinated. Older adults who want to get their free shingles vaccine can register for an appointment at their local drug store. Stores like Safeway, SavOn, CVS, Rite Aid and Walmart are now offering the vaccine.

The Mayo Clinic describes shingles as a viral infection that causes a painful rash. Shingles can occur anywhere on your body. It typically looks like a single stripe of blisters that wraps around the left side or the right side of your torso. It is caused by the varicella-zoster virus — the same virus that causes chickenpox. After you’ve had chickenpox, the virus stays in your body for the rest of your life. Years later, the virus may reactivate as shingles.

Shingles isn’t life-threatening. But it can be very painful. Vaccines can help lower the risk of shingles. Early treatment may shorten a shingles infection and lessen the chance of complications. The most common complication is postherpetic neuralgia. This is a painful condition that causes shingles pain for a long time after your blisters have cleared. □

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SDCERA COLA GOES INTO EFFECT THIS MONTH

SDCERA retired members will get the maximum cost-of-living adjustment (COLA) starting this month.

• Tier I, II and A members: 3% increase and 4.71% goes in their COLA bank
• Tier B, C and D members: 2% increase and 5.71% goes in their COLA bank

Retirees and beneficiaries will first see the increase in their April 28 pension payments. Learn more about the COLA and COLA bank at www.sdcera.org/retirees/cost-of-living-adjustments-cola □
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SAVE THE DATE
RESDC FLAG DAY LUNCHEON

Wednesday, June 14th
Ronald Reagan Community Center
195 E. Douglas Ave., El Cajon, 92020

We are pleased to invite you to the return of the popular RESDC Flag Day Luncheon on June 14, 2023. This year we are returning to the Ronald Reagan Community Center in El Cajon.

Our Flag Day Luncheon is a festive celebration commemorating the adoption of the flag of the United States. This is an indoor event with ample free parking on both sides of the center.

Stay tuned to the May & June NETWORKs for more details on our program, lunch menu and ticket pricing, and registration information. □

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RECENT EVENTS

County Supervisors OK Proposal for More Senior Facilities with Enhanced Services.

The Board of Supervisors recently unanimously approved a proposal Tuesday to improve and expand services for senior citizens, in connection with San Diego County’s “Age Well Initiative and Aging Roadmap.”

Supervisors also directed the Chief Administrative Officer Helen Robbins-Meyer to suggest elements that can be incorporated into the roadmap. Robbins-Meyer, who will present her recommendations in six months, will:

• Evaluate current services at county senior centers, and the cost of increasing services to additional senior centers
• Meet with community partners, senior centers and other relevant agencies on improving access to self-sufficiency programs including food assistance, and county offices such as Aging and Independence Services
• Review existing county facilities with available space, such as libraries and community centers, to host senior activities

New MissionSquare Research Institute Survey Finds Many Public Service Employees Worry About Inflation.

Nearly two in three public service workers (64%) are worried about inflation and their ability to keep up with the current cost of living. Additionally, 58% worry about inflation decreasing the value of their savings, according to a new public sector workforce survey conducted by MissionSquare Research Institute, titled “State and Local Government Employees: Morale, Public Service Motivation, Financial Concerns, and Retention”.

Amid a shortage of public service workers, employees most commonly cited job security (92%), personal satisfaction from their job (87%), and retirement benefits (86%) as the factors that attracted them to their current job in the public sector.

“The high levels of financial anxiety and burnout that we’re seeing among public sector workers play a key role in the recruitment and retention challenges that state and local governments continue to face,” said Rivka Liss-Levinson, PhD, MissionSquare Research Institute Senior Research Manager and lead author of the research. “On the plus side, 66% of public sector workers report positive morale, and 59% are very or extremely satisfied with the quality of their colleagues/coworkers. We hope this research provides key insights and serves as a valuable tool for public service employers grappling with stubbornly high numbers of unfilled jobs.”

To access the research, visit: www.slge.org/

This is an excerpt from an article by the Globe Newswire – March 02, 2023. □

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BOARD MEMBER PROFILE
MARIA RUBIO LOPEZ

Maria is originally from Brawley, California in neighboring Imperial County. She was a San Diego County Employee for over 36 years in the Department of Public Works (DPW) in Kearny Mesa. She started as a San Diego State Student Worker in the late 70’s and ended her career in early 2015. She was first employed in DPW’s Mapping Section as a Drafting Technician 1 and ended as a Construction Technician in the Traffic Section. Her latest duties and responsibilities were staff to the San Diego County Traffic Advisory Committee and DPW’s School Liaison Officer. These assignments involved networking, collaboration and a great sense of humor. □

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DONATE TO CECO (COUNTY EMPLOYEES CHARITABLE ORGANIZATION)

Thanks to the generosity of County employees and retirees, CECO (County Employees Charitable Organization) distributed $110,252 to local non-profit organizations and the Employee Crisis Fund this 2023 grant cycle. The 68 non-profits were awarded their checks at the breakfast on March 10th. The first award breakfast since 2019. The awards ranged from $474 to Urban Life Ministries, Inc. for nutritious food, to $4,852 to Backcountry Communities Thriving for a storage shed to help with its food distribution program for disadvantaged individuals and families.

In all, CECO received 153 Community Grant applications that totaled to more than $783,000 in requests. With more money, CECO could have funded even more of the requests. If you are not already a member, we urge you to join. You can make a one time or recurring donation.

Click here to see the 2023 CECO Grant Summary

Ways to donate:

• Set up new contribution payment(s) directly to CECO by visiting https://donorbox.org/ceco-retiree-contributors
• Donate to CECO via PayPal Giving Fund: https://www.paypal.com/us/fundraiser/charity/1532095
• Send a check made payable to “SD CECO” and mail to:

CECO
1600 Pacific Highway
Suite 209
San Diego, CA 92101

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WELCOME NEW MEMBERS

Christine Hall, District Attorney
Charles Hayes, District Attorney
Candace Kienitz, Public Health
Glenn Manzano, Probation
Marlon McBride, Probation

*Associate Members

The surviving spouse of a member is eligible for RESDC membership. For enrollment assistance, please call: (866) 688-9229. □

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BITS AND PIECES

Susan Melendez wrote to us about her travels in retirement. “Since retirement we have done land, river and sea trips. We were some of the lucky ones who got to cruise in 2020. We went to the Eastern Caribbean, Puerto Rico and the Bahamas for my birthday trip. Last summer I booked the Disney resort Aulani followed by a Disney cruise to four other Hawaiian Islands and then on to Vancouver. Great trip with snorkeling and of course the Road to Hana with a dip in a cold waterfall. Each summer I also book a trip with my grandchildren and they chose a Disney Cruise to Alaska. The scenery of the inside passages of Canada and Alaska were amazing. We rode the Yukon train, went white water rafting, panned for gold and played with puppies after the dog sledding.”

If you have taken an interesting trip or have had an intriguing event happen recently, please let us know so that we can share your story with our members.

If you have reached an exciting birthday, or wedding anniversary, please call us at (866) 688-9229. You can also write to us at RESDC, 8825 Aero Drive, Suite 205, San Diego, CA 92123. You can also send your information to us by email at: resdc@resdc.net .□

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PURCHASE SEE’S CANDIES GIFT CARDS ONLINE

You can now purchase See’s Candies gift cards in our new Online Store using your RESDC discount!
RESDC members are offered $25 gift cards for $22, a savings of $3. Gift cards are redeemable at any See’s Candies location or online.

To purchase gift cards online, go to: resdc.wildapricot.org/online-store. We can only accept credit cards to purchase gift cards online. You may not purchase more than ten gift cards in one transaction.

Note: You need a RESDC member self-service login in order to access the online store. If you need one, please email resdc@resdc.net.

RESDC members are entitled to a 10% group discount on selected items at the two See’s Discount Stores: 3751 Rosecrans Street, San Diego, 92110; and 1830 Marron Road, Carlsbad, 92008. You must ask the See’s sales team which items are selected. You need to show them your RESDC membership card for the discount. Be sure to mention that you are a member of Retired Employees of San Diego County. Occasionally a RESDC member is denied the discount by a clerk at these See’s stores. When this happens, be sure to clarify that you are not an active County employee, but you’re a member of RESDC. The county no longer participates in the See’s group discount program. If you’re still refused a discount, ask to speak to a store manager.

The gift cards are redeemable at any of the See’s retail stores and for online purchases.

If you would like to purchase gift cards through the mail from RESDC, please address an envelope to RESDC, 8825 Aero Drive, Suite 205, San Diego, CA 92123. Enclose a check made out to RESDC for the number of gift cards you would like at $22 for each gift card. Be sure to include postage stamps so we can mail the gift cards to you. Enclose one postage stamp if purchasing less than five gift cards. If purchasing over five gift cards enclose 78 cents of postage. If purchasing over nine gift cards enclose 98 cents of postage. See the postage chart at: www.resdc.net/sees-candies-discount. We will supply the return envelope to put the gift cards into. □

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IN MEMORIAM

Shirley Barad, HHSA
Mitchell Berner
Nova Berry
Cathleen Burkett, HHSA
Patricio Cepe, Sheriff
Tod Connor
Ester Delacruz, Sheriff
Casimir Derengowski
James Emig, Sheriff
Richard Ensminger
Michael Espinosa, Probation
Lilian Flagg, HHSA
Natalie Gallegos, HHSA
Chester Hebert, HHSA
Thomas Hudson, Animal Services
William Jakaitis, Public Works
Catherine Kirste-Burge
Robert Knox, District Attorney
Robbyn Kuykendall, Registrar of Voters
Madeline Lesh
Neva McCormack
William Miller, Superior Court
Luis Misa
Virginia Munson
Vicky Pion, Information Services
Kathleen Rajan, HHSA
Mary Raymond, HHSA
Monica Rincon-Florez, HHSA
Donald Ritt
Sophie Rys
Martha Sallenbach, HHSA
Dorothy Shock, HHSA
Linda Silianoff, HHSA
Kathryn Skilbeck, Planning & Land Use
Rebecca Slade, HHSA
Donald Smart, Sheriff
Jean Smith, Probation
Velden Spencer
Henrietta Steele, Child Support
Laura Stevens, HHSA
Pearlie Stevens
Linda Stuart
Debra Styres, HHSA
Mark Tarner, Auditor & Controller
Dale Wallingford, Auditor & Controller
Joanne Walters, Environmental Health
Theona Washalaski
Donald Weisheim, HHSA
Belva Wilkinson
Theresa Wright

*Active Employee

MEMBER PRIVACY

Any retiree or surviving spouse who does not want his/her death notice published in the “In Memoriam” column may notify the RESDC office and your privacy will be maintained.

The Surviving Spouse of a RESDC member is eligible for RESDC membership. For enrollment assistance, please call (619) 688-9229. □

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RESDC ROUNDUP

On Wednesday, February 15, 2023 members met up for the RESDC Roundup at Brigantine Seafood & Oyster Bar in Escondido.

The Roundup provides an opportunity to catch up over libations and appetizers with RESDC leadership and fellow members. □

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TICKETSATWORK DISCOUNTS

TicketsatWork is the leading corporate travel and entertainment benefits provider. RESDC members may order through TicketsatWork on the internet, by fax, or by mail. The perks you can enjoy with TicketsatWork include:

• Unbeatable prices on over 250K hotels, with savings up to 60%.
• Big savings on movie tickets, concerts, sporting events, tours, attractions, and more.
• Exclusive offers on the most popular theme parks across the country.
• Plus, access to top brands in electronics, apparel, and other offers to help you through all stages of life.

Register today for immediate access to TicketsatWork. Simply provide your email address and company code and start saving. The company code for RESDC members is “Retired”. If you have any questions, please call TicketsatWork at (855) 240-7404. To order tickets visit https://www.ticketsatwork.com/tickets/.

All orders received by 2 pm (PST) Monday-Friday are processed and shipped the same day via UPS. E-ticketing options are also available for many venues, and orders received by 4:30 pm Monday-Friday are issued the same day. □

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THE NETWORK is the official monthly newsletter of the Retired Employees of San Diego County, Inc. (RESDC), a private non-profit organization.

The information printed in THE NETWORK is believed to be from reliable sources. However, no responsibility is assumed by THE NETWORK for inaccuracies contained herein.

Business and Inquiries: Business matters and address changes may be recorded on our voicemail at any time, call (866) 688-9229. Please spell your name so the correct member record can be located.

Retired Employees of San Diego County, Inc.
8825 Aero Drive, Suite 205 | San Diego, CA 92123
Office Hours: 9 a.m. to 2 p.m. Monday through Friday
TELEPHONE: (866) 688-9229 Toll Free
FAX: (619) 688-0766
E-MAIL: resdc@resdc.net