- Co-authored the Retirement Committee’s report for 15 years, appearing regularly in RECCSF’s News and Views.
- Direct investment experience! Strong, stable returns are essential to earn your Supplemental COLA!
- Directly contributed to your Fund’s superb performance, among the best in the country!
- Instrumental in growing and nurturing SFERS’s Private Equity portfolio, which earned 15.2% per year for 10 years ending 6/30/15, achieving the second highest returns of public pension funds! http://www.investmentcouncil.org/
- Managed $1 billion bond portfolio as SFERS staff member, achieved superb performance;
- Questioned investing $3 billion of your money in Hedge Funds, which have high fees, low returns, and poor transparency;
- Questioned staff, won’t rubber stamp recommendations, and won’t drink the Kool-Aid!
I was the first commissioner to support granting the Supplemental COLA to pre-1996 retirees. I didn’t ask for City Attorney’s opinion, knowing that the Board has this authority. I supported hiring independent counsel because of the City Attorney’s conflict of interest.
Miscellaneous members, who comprise 85% of membership, must have a seat at the table! Fair representation is critical to democracy and to your pension! I pledge to continue you to work and fight for you!
All the best,
Herb Meiberger, CFA
Retirement Board Commissioner