The one thing that is restricted for retirees is no new money can come in because theyre income restricted. They cannot put more money in the plan, however, they can continue to manage the plan and change their investments as they see fit. Okay. So the mandatory so those that are being hit with the mandatory withdrawal, i know theres interest theres interest about how to take those mandatory withdrawals and invest them in other other lack of a better word other investments, so i think thats something we may want to talk about. Maybe mr. Collins is in the audience, and maybe we should talk about a couple of the unions that are interested in that, in passing other information. So its something we should be thinking about because i know there is a lot of concern about it, and before we get a lot of questions and the mandatory withdrawal is the age 70. 5 restriction. Its r. M. D. , required mandatory distribution. But its not retirement, and you have to start withdrawing at 70. 5. Yeah, we can look at something about that. Im throwing it out here in Public Session because its a concern. Its on several minds, and first, i want to make sure were getting the best Accurate Information at the moment that we have, and then possibly some food for thought that we can do something that people will feel comfortable with for the future. And i think with the rollout of the professional Management Services thats being offered, that will be a really Great Service for a retiree to talk about drawdown strategies, so that would be a Good Opportunity to talk about r. M. D. And where they can put that. So im hoping with this information, retirees will have some more information and better information on how they can drawdown, and i believe well offer that. And well continue to keep really good record of the legislation. We know the legislation is in the senate and can identify it by its bill number so people can look at the senate and people can pick it out. Its just legislation that may or may not get passed. We certainly can track t it, but yeah, we can track it. How much is going to the senate nowadays, theyre on vacation. Two things. Be careful. When they do these types of amendments, they leave out the 457s. Two, i think what youre driving at, commissioner, when its a major withdrawal, when its a roll, or when its a loan. Theres different tack sheets if its a deferred comp or if its your 457 or roth 457. Its not allornothing. Some people want to roll it to an i. R. A. So they can avoid taxes as well as use the money. So i think its one of the things thats listed for the deferred Comp Committee to work on. As for anticipating what the federal governments going to do, please dont ask us to do that, but well make amendments once they change the law. But the r. I. A. Adjustment, theyve been working on that for four or five years and it has not occurred that. The reason i ask and its really important is because rumors begin to fester. The rumor mill leads people to make bad decisions or decisions, but its on record now. Everything is on schedule, we are still targeting september 3 as the golive date. Until then, every participant, even those with an international address were mailed a copy of the transition guide, which is attached for you in your material. This guide is a great reference document, and sorry. The computers not working. The guide is a great reference document for participants to learn about the file. Participants without internet were also mailed an internet copy, and can be found on sfdcp. Org. Attendance at the meetings were good . People have been happy to share the news on the internet and their news letters . In fact weve been partnered to be featured in the sfers state mailing. I would love to have you take a look at that. The sfers annual mailing is a sixmonth process and goes to around 36,000 employees . It includes a cover letter from executive director huish and personalized pension information. So while the sfdcb insert was requested later in the process, we are very pleased to deliver on this. This may well be the first direct mail to roughly 20,000 eligible about the sfdcb. So we look forward to tracking progress on this and well report out on trends as they surface. That concludes my report. More questions . I have one question. Your statement about the Stable Value Fund had dropped to 28. 2 of the total, correct . Thats right. On one sense, its a verifiable piece of information, but if were trying to make an assessment about how the members are investing their money, okay . No further questions. Is there Public Comment . That concludes item 11. Thank you. The collection item, approval of that is because the incredible amount of work that the governance [inaudible] for him to really continue to educate the new Governance Committee on what to do before i asked him to step on or give up that seat so i can put another Committee Member on. So to clarify, you have yourself as the chair of the Governance Committee, but thats pending winding down so youll be acting chair until we wind no, no, hes just on the committee. Oh, okay. On the committee. Its written. Im just sharing that. Motion has been made and seconded. If theres no further questions, ill call for Public Comment. No Public Comment. All in favor . That was made by casciato and seconded by stansbury. That takes us to item 13. Item 13, travel expense report for the Quarter Ended june 30, 2019. This report is for the end of the fiscal year or budget aend year, and we finished the year with a total breakout. We dont have a yeartodate breakout, but we have budgets we still have about 370,000 that will stay in the trust for an expended fiscal year 2018 and 2019. We can answer any questions related to the travel expense report. Any further questions . This is a discussion item only. Correct. Any questions or comments from the public . That concludes item 13. Item 14, executive directors report. Next item, executive directors report. We have attached the june 2019 dashboard. Again, we continue to welcome any comments or requests for Additional Information to be included on this operations dashboard. Ive also attached a copy of the Cost Effective report. Last meeting, i mentioned that there has been an ordinance introduced that would amend the heart trouble and pneumonia presumption for safety members applying for disability benefits or death and lineofduty benefits. As required by the charter, weve basically asked chiron to assess the impact. What we do is go back and look for impact to potential applications that were listed at heart conditions or pneumonia conditions that were denied. As we report, the cost impact its been transferred from the government audit and oversight committee. Theyve been on recess for the month of august. Representatives from the committee will be there when we consider that as well as considered by the full board. Well be notified by the full board when its passed. Just for consideration, i wanted to present that to you. Update on the commendation letter. Were in the process of writing it. There are issues related to having it put in the employees personnel file, but certainly we want to finalize something the retirement board can sign or initially pass or commend the staff for achievements over the past few years, so well have that hopefully at the september Board Meeting. I want to thank everybody who participated i think i want to thank everybody who participated in the executive director performance evaluation as well as the Actuarial Service coordinator. My report was everyone who is here has returned their survey, so thank you very much for that. Just wanted to inform you that the Governance Party indicated they would do a very abbreviated survey to the Board Members. The draft that i saw had four questions on it, and its really searching for priorities of the Board Members of what they would like to look on. I believe that will be distributed within the next week or so, so i would encourage you to take time and return that important input. Well go to the Governance Committee, and certainly president driscoll and i have discussed the potential of having a retreat before the end of the year, and certainly, any kind of priorities that you would like to see the board address, those could be considered as part of an agenda potentially for a retreat. So again, thank you for your participation and we look forward to your continued participation in this annual surveying process. With that, i dont have anything else. I would update you on the per charge, which is the local 261 grievance or charge before the p. R. B. Board. Karen did represent the board at the governance, and there is a settlement that will be proposed at the next september Board Meeting in a closedsession briefing related to that. Ive not seen the draft of the settlement. I have an understanding of at least kwha the attemwhat the a i just wanted to give you a heads up that that will be calendared at the september session Board Meeting. With that, ill be happy to answer any questions. Any questions . Just emphasize one point basically that executive director huish just asked about. If youre asked to make your calendar date available for a possible retreat, which would be an allday affair, please respond because the possibility of getting it scheduled is very difficult. Unless we respond, and we can plan accordingly, we dont know when we can all get together. Yeah. I think the format you mentioned would be two sessions, like a friday afternoon or a saturday morning. We could break it over a tuesday or a wednesday. Its tough to go eight hours straight, but certainly, thats a possibility. We can do that. Location wise, we want to generally get away from this building, but were restricted to holding it in San Francisco. Weve had them in the past at treasure island, weve had them at the port, we had them at an Italian Restaurant one year down at the waterfront. Were a small group. Weve had them at the art museum. How many generally, its the board, guest speaker, and facilitators, under 20. Generally, well attended by members of the board but not members of the public. One or two people. What do you need for presentations . Pretty basic. Just an overhead projector my idea is my office. Any Public Comment . That concludes item 14. I believe. Oh, i should say good of the order. Is there anything that anyone else wants to say . I myself would like to congratulate the old san franciscan staff for the excellent returns being announced today, and lets do it again. Motion to adjourn is in order. So moved. Public comment . Meeting adjourned. Thank you. This is one place you can always count on to give you what you had before and remind you of what your San Francisco history used to be. We hear that all the time, people bring their kids here and their grandparents brought them here and down the line. Even though people move away, whenever they come back to the city, they make it here. And they tell us that. Youre going to get something made fresh, made by hand and made with quality products and something thats very, very good. The legacy bars and restaurants was something that was begun by San Francisco simply to recognize and draw attention to the establishments. It really provides for San Franciscos unique character. And that morphed into a request that we work with the city to develop a legacy business registration. Im Michael Cirocco and the owner of an area bakery. The bakery started in 191. My grandfather came over from italy and opened it up then. It is a small operation. Its not big. So everything is kind of quality that way. So i see every piece and cut every piece that comes in and out of that oven. Im leslie ciroccomitchell, a fourth generation baker here with my family. So we get up pretty early in the morning. I usually start baking around 5 00. And then you just start doing rounds of dough. Loaves. My mom and sister basically handle the front and then i have my nephew james helps and then my two daughters and my wife come in and we actually do the baking. After that, my mom and my sister stay and sell the product, retail it. You know, i dont really think about it. But then when i sometimes when i go places and i look and see places put up, oh this is our 50th anniversary and everything and weve been over 100 and that is when it kind of hits me. You know, that geez, weve been here a long time. [applause] a lot of people might ask why our legacy business is important. We all have our own stories to tell about our ancestry. Our lineage and ill use one example of tommys joint. Tommys joint is a place that my husband went to as a child and hes a fourth generation san franciscan. Its a place we can still go to today with our children or grandchildren and share the stories of what was San Francisco like back in the 1950s. Im the general manager at tommys joint. People mostly recognize tommys joint for its murals on the outside of the building. Very bright blue. You drive down and see what it is. They know the building. Tommys is a San Francisco hoffa, which is a germanstyle presenting food. We have five different carved meats and we carve it by hand at the station. You prefer it to be carved whether you like your brisket fatty or want it lean. You want your pastrami to be very lean. You can say i want that piece of corn beef and want it cut, you know, very thick and i want it with some sauerkraut. Tell the guys how you want to prepare it and they will do it right in front of you. San franciscos a place thats changing restaurants, except for tommys joint. Tommys joint has been the same since it opened and that is important. San francisco in general that we dont lose a grip of what San Franciscos came from. Tommys is a place that youll always recognize whenever you lock in the door. Youll see the same staff, the same bartender and have the same meal and that is great. Thats important. The service that San Francisco heritage offers to the legacy businesses is to help them with that application process, to make sure that they really recognize about them what it is that makes them so special here in San Francisco. So well help them with that application process if, in fact, the board of supervisors does recognize them as a legacy business, then that does entitle them to certain financial benefits from the city of San Francisco. But i say really, more importantly, it really brings them public recognition that this is a business in San Francisco that has history and that is unique to San Francisco. It started in june of 1953. And we make everything from scratch. Everything. We started a you we started a off with 12 flavors and mango fruits from the philippines and then started trying them one by one and the family had a whole new clientele. The business really boomed after that. I think that the flavors we make reflect the diversity of San Francisco. We were really surprised about the legacy project but we were thrilled to be a part of it. Businesses come and go in the city. Pretty tough for businesss to stay here because it is so expensive and theres so much competition. So for us who have been here all these years and still be popular and to be recognized by the city has been really a huge honor. We got a phone call from a woman who was 91 and she wanted to know if the mitchells still owned it and she was so happy that we were still involved, still the owners. She was our customer in 1953. And she still comes in. But she was just making sure that we were still around and it just makes us feel, you know, very proud that were carrying on our fathers legacy. And that we mean so much to so many people. It provides a perspective. And i think if you only looked at it in the here and now, youre missing the context. For me, legacy businesses, legacy bars and restaurants are really about setting the context for how we come to be where we are today. I just think its part of San Francisco. People like to see familiar stuff. At least i know i do. In the 1950s, you could see a picture of tommys joint and looks exactly the same. We havent change add thing. I remember one lady saying, you know, ive been eating this ice cream since before i was born. And i thought, wow we have, too. When i open up the paper every day, im just amazed at how many different Environmental Issues keep popping up. When i think about what planet i want to leave for my children and other generations, i think about what kind of contribution i can make on a personal level to the environment. It was really easy to sign up for the program. I just went online to cleanpowersf. Org, i signed up and then started getting pieces in the mail letting me know i was going switch over and poof it happened. Now when i want to pay my bill, i go to pg e and i dont see any difference in paying now. If youre a family on the budget, if you sign up for the regular green program, its not going to change your bill at all. You can sign up online or call. Youll have the peace of mind knowing youre doing your part in your household to help the environment. Any comments, questions, or corrections . Hearing none, call the question. All in favor . Any opposed . I abstain since i was not here. Yes, the motion carries. And now, item 4, the directors report. Good morning, commissioners, and welcome, commissioner spears. It is great to have you here and its also great to have a full commission. I think its been several years, s