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Attention ARSCE Members

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President's Message:

John Masterjohn

 

I know you all must be tired of hearing about our travels, but I just have one more story to share with you. As I mentioned in my last article, we left for Arizona directly from the March luncheon. After we returned from Chandler, Arizona, I got to play golf a couple of times and then it was off to Mazatlán, Mexico on April 3rd. Karen had a brief chance to wash a few things out of her suitcase…and then we flew out. Mazatlán was nice and we had 15 days of great weather, and no speeding tickets. We returned on April 18th.

So the day I’m writing this column is May 15th. We are out in our yard in the rain. I can’t stop Karen from transplanting things, planting seeds, or just pulling weeds, which is mostly my job. I don’t know if you have ever heard about our Wisteria and Golden Chain trees that have grown together and bloom at the same time. We have people come from all over to see this oddity and take photos. Also the Wisteria is the only thing holding up our carport. As I told you in my previous article, we redid our whole front yard with all plants and a couple of small trees. It keeps me busy weeding or watering most days. It’s amazing how much of my time is freed up when it rains!

I met with Ken Nakatsu at the end of April and we discussed the new ordinance that cleans up the language of the old retirement system plan and lays out the new rules of the SCERS 2 plan. He also mentioned that the Board has invested $15 million in the Brookfield Infrastructure Fund which focuses on renewable energy development and not on fossil fuels.

SCERS was granted a public disclosure exemption for certain private funds. This exemption is very important for gaining access to the top private fund managers, who otherwise do not want to take on public pensions as clients and, as such, it is important for helping us meet our investment targets. The exemption will also enable SCERS to better monitor and assess their private fund managers’ performance.

Now the really good news—Ken has been asked to stay on for another year, so we’ll have him through approximately June of 2017. They are still searching for a replacement for his position.

I hope you all had a great Memorial Day and a safe and fun 4th of July. Well, that’s all for now.

John

Contact Mr. Masterjohn at president@arsce.org

 This message also appears in the ARSCE News, July - August, 2016, page 1.

Events

 

No events scheduled at this time.

Seattle City Council Approves Changes to Retirement System

The Seattle City Council has approved a plan to change the retirement benefits offered to new hires beginning in 2017.  To read the Seattle Times article reporting this change click here.

To read the report of these changes by ARSCE member and SCERS Board Member Lou Walter on page one of the January - February, 2016 issue of the ARSCE News, click here.

Council staff had earlier prepared a report on possible directions the City might elect to take in revising the current system.  Click here to view the council page and read the report.

 

Benefits Questions?

 

Do you have a question about your benefits from the City of Seattle?  You can email Renee Freiboth of the Personnel Department directly at benefits@arsce.org.  Renee will select some queries for her article in the ARSCE News; others she will answer directly.

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© 2013 The Association of Retired Seattle City Employees

This page updated June 21, 2016.