Board of Retirement
SamCERA’s Board of Retirement has nine members and two alternates. The Board includes the San Mateo County Treasurer, appointees of the Board of Supervisors, and elected members chosen by the differing active and retiree SamCERA membership groups.
The Board of Retirement, as the governing body of SamCERA, has a variety of responsibilities. All investments of the retirement fund are the responsibility of the Board, and the management and administration of SamCERA are vested with the Board.
In general, the Board’s responsibilities include:
- setting and acting upon investment objectives and strategies to fund the benefits to be paid by SamCERA;
- adopting actuarial assumptions and recommending employer and employee contribution rates to the Board of Supervisors;
- approving SamCERA’s budget, regulations, policies, and procedures for administrating the system to ensure the prompt delivery of the benefits; and
- determining whether or not members are eligible to receive disability retirements.
SamCERA’s Board Composition
| Member Position | Description |
|---|---|
| First | County Treasurer who serves as ex-officio member |
| Second | Elected by the general membership |
| Third | Elected by the general membership |
| Fourth | Appointed by the Board of Supervisors |
| Fifth | Appointed by the Board of Supervisors |
| Sixth | Appointed by the Board of Supervisors |
| Seventh | Elected by the safety membership |
| Eighth | Elected by the retired membership |
| Ninth | Appointed by the Board of Supervisors |
| Alternate Safety Member | The candidate in the election for the Seventh Member from the branch of service other than the successful candidate’s branch who received the most votes. |
| Alternate Retired Member | Elected by the retired membership |