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San Mateo County Employees' Retirement Association
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Are you getting ready to retire?
There are some important things inactive members should know about retirement

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Learn more about your COLA
Get this year's cost-of-living adjustment (COLA), plus find out how COLA is calculated

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About SamCERA

News

Overview

News

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Board of Retirement Investment Information
2021 July Board Meeting

At its meeting on July 27, 2021, the Board of Retirement approved a $30 million capital commitment to Angelo Gordon Credit Solutions Fund II, LP, as part of SamCERA’s growth risk-bucket within opportunistic credit (fixed income asset class).

No further board action was taken related to SamCERA’s investment commitments or hires.

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2021-22 Contribution Rates
SamCERA has updated its contribution rates for members and employers, effective July 11, 2021.

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2021 SamCERA Board of Retirement Election Results
Congratulations to Katherine O'Malley, Robert Raw, and Susan Lee.

Congratulations to Katherine O’Malley, Robert Raw, and Susan Lee.

Announcement

SamCERA’s Reopening Plans – June 15, 2021
Learn about what reopening will look like at SamCERA.

(Updated on October 12, 2021.)

The past year has been challenging for everyone, and we hope that you are all safe and healthy amid the COVID-19 pandemic. We are excited to announce that we will be reopening our office to members on June 15, 2021.

While we look forward to seeing our members, we encourage everyone to utilize our remote services whenever possible. We’ve seen the great value in remote services over the past year, not only keeping members and employees safe, but also saving travel time and minimizing our carbon footprint.

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Board of Retirement Investment Information
2021 May Board Meeting

At its meeting on May 25, 2021, the Board of Retirement approved a $15 million capital commitment to ABRY Senior Equity VI, LP, as part of SamCERA’s Debt-Related/Special Situations portfolio within Private Equity.

No further board action was taken related to SamCERA’s investment commitments or hires.

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Board of Retirement Investment Information
2021 April Board Meeting

At its meeting on April 27, 2021, the Board of Retirement approved a $50 million capital commitment to Invesco Real Estate U.S. Fund VI L.P., as part of SamCERA’s real estate portfolio.

No further board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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Board of Retirement Investment Information
2021 March Board Meeting

At its meeting on March 23, 2021, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

Announcement

Notice of Election
This June, SamCERA will hold an election for three seats on the Board of Retirement. Read the election notice for important dates and how to file as a candidate.

 

SAN MATEO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION
(SamCERA)

NOTICE OF ELECTION
TO ELECT THREE MEMBERS TO THE BOARD OF RETIREMENT

Notice is hereby given that one GENERAL MEMBER is to be elected to fill the second position, and one SAFETY MEMBER is to be elected to fill the seventh position on SamCERA’s Board of Retirement. An Alternate Safety member will also be elected.

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Board of Retirement Investment Information
2021 March Special Board Meeting

At its special meeting on March 8, 2021, the Board of Retirement approved a $20 million capital commitment to Vision Ridge Sustainable Asset Fund III, LP, as part of SamCERA’s Infrastructure portfolio within Private Real Assets.

The Board then approved a $15 million capital commitment to Strategic Value Special Situations Fund V, LP, as part of SamCERA’s Debt-Related/Special Situations portfolio within Private Equity.

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Board of Retirement Investment Information
2021 February Board Meeting

At its meeting on February 23, 2021, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

Announcement

COLA Increase for 2021
At its January 26, 2021 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for most retirees and beneficiaries.

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Board of Retirement Investment Information
2021 January Board Meeting

At its meeting on January 26, 2021, the Board approved a new asset allocation policy.  The changes include a 2% increase to Growth assets, a 2% reduction in Diversifying assets, and no change to the exposure to Inflation Hedge assets. 

No action was taken related to SamCERA’s investment commitments or hires.

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Retirees: 2020 Tax Forms Are Available Now
1099-R Annual Tax Reporting Statements were mailed on January 21.

1099-R tax forms were mailed on January 21, 2021 to the addresses we have on record for retirees. This form contains information about reportable income and taxable income from SamCERA for 2020. It will also reflect the amount of federal and California taxes that have been withheld, if any.

Access Your 1099-R Online

Beginning on January 22, 2021, you will be able to view and print your 1099-R online in the MySamCERA member portal.

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Important Information for Retirees in 2021
Changes to taxes and health plan premiums in 2021 could mean that you see a change in your monthly pension benefit in January.

Changes to taxes and health plan premiums in 2021 could mean that you see a change in your monthly pension benefit in January. Below are a few reminders:

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Board of Retirement Investment Information
2020 December Board Meeting

At its meeting on December 8, 2020, the Board of Retirement approved a $20 million capital commitment to Endeavour Fund VIII L.P., as part of SamCERA’s private equity portfolio.

The Board then approved an additional commitment of $10 million to Blackrock Direct Lending Fund IX, as part of the private credit portion of SamCERA’s opportunistic credit portfolio.

It was also reported that SamCERA made a $15 million capital commitment to Canvas Ventures 3 L.P., as part of SamCERA’s private equity portfolio.

Announcement

2021 Service Purchase Schedule
There are two separate periods of time during 2021 to make service purchases.

Depending on your circumstances, you may be eligible to purchase service credit that can count toward your total years of service and may increase your retirement benefit.

Purchase Request forms may be submitted for the purchase of Extra Help time, Plan 3 service upgrades, certain military leave and unpaid sick leave. Returning SamCERA members can also make a Purchase Request for a redeposit of withdrawn funds.

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Board of Retirement Investment Information
2020 October Board Meeting

At its meeting on October 27, 2020, the Board of Retirement approved a $25 million capital commitment to EQT Infrastructure V L.P. as part of SamCERA’s infrastructure portfolio within private real assets.

No further board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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Board of Retirement Investment Information
2020 September Board Meeting

At its meeting on September 29, 2020, the Board of Retirement approved a $30 million capital commitment to Clayton, Dubilier & Rice Fund XI LP, as part of SamCERA’s private equity portfolio.

The Board also approved a re-up commitment of $35 million to White Oak Yield Spectrum Fund V, as part of SamCERA’s growth risk-bucket (fixed income asset class) within opportunistic credit.

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Board of Retirement Investment Information
2020 August Board Meeting

At its meeting on August 25, 2020, the Board of Retirement approved a $30 million capital commitment to Stockbridge Value IV Fund, L.P., as part of SamCERA’s real estate portfolio.

No further board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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Board of Retirement Investment Information
2020 July Board Meeting

At its meeting on July 28, 2020, no board action was taken related to SamCERA’s investment commitments or hires.

More information on SamCERA’s commitments may be available in SamCERA’s Board of Retirement meeting minutes. Minutes for a given Board meeting are usually approved at the next regular meeting and will be posted shortly thereafter. 

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