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Income Inequality Detailed in Report based on Census Data
A report from San Francisco-based Public Policy Institute of California analyzes growing income polarization across the state even as the overall economy has recovered since the 2008 recession. In Orange County the 90th percentile of families earned 11 times more than the 10th percentile: $203,000 a year compared to $18,000. The report said the gap between high-income and low-income families in California is twice the size it was in 1980. Read more…
2017 SDCERA Health Program Update
At the June 16th Board of Retirement meeting, SDCERA announced it will continue offering group healthcare plans to retired members.
The Board also unanimously approved the following recommendations from the SDCERA Benefits Committee:
- Renewal of Health Plans for Calendar Year 2017 with no plan design changes;
- Transfer administration of Health Program to Mercer, SDCERA’s current provider of health consulting services;
- Health Administrative Fee of $4.85 per plan per month. This is an increase of $0.85 to current $4.00 fee.
Meeting Notification – SDCERA Board of Retirement
SDCERA Board of Retirement Meeting
June 16, 2016
8:30 a.m.
At the upcoming Board of Retirement meeting, the Board will be discussing and taking action on recommendations from the SDCERA Benefits Committee for the following items:
- Approve Committee’s recommendation to continue offering SDCERA group healthcare plans to retired members;
- Renewal of Calendar Year 2017 Health Plans with no plan design changes;
- Discussion and consideration of transferring administration of Healthcare Program to Mercer, SDCERA’s current provider of health consulting services.
- Calendar Year 2017 Health Administrative Fee
RESDC Board members and staff will be attending this meeting. Stay tuned for an update on the Board’s action(s). Additional background on these items can be accessed by clicking directly on the following links:
- Health Program Strategic Direction
- Calendar Year 2017 Health Plan Renewals
- Health Program Administration
- Calendar Year 2017 Health Administrative Fee – background materials to be provided at
For access to the full agenda and meeting details, click here.
Arizona Voters Pass Benefit Cuts Agreed to by Police & Firefighters
Prop 124 in Arizona passed easily on May 17 amid wide support from police, firefighters and elected officials who fashioned the plan to reduce the cost of public safety pensions and improve the financial health of the retirement system. A key feature of the proposal will link cost of living adjustments (COLA) for retirees to the consumer price index with an annual cap of 2%. An annual 4% compounded increase has been paid out to retirees for two decades, significantly hindering the ability of the retirement fund to cover future benefits. Read more: http://www.azcentral.com/story/news/politics/elections/2016/05/18/big-prop-124-win-change-public-safety-pensions/84459132/
7 Ways To Prepare For Retirement
When your retirement arrives, will you be ready? Have you sufficiently prepared yourself to make the most of your second act? Some retirees-to-be may find themselves waiting to see what will happen once they enter retired life. Read more: http://www.huffingtonpost.com/2013/06/06/retirement-planning-preparation_n_3386365.html?utm_hp_ref=retirement