Projector, please. Right. Again pointing on this column, the market value assets at the end of the financial, what they call the great recession, just under 12 billion. And then increasing to 17 billion which reflected a market value funding status of 84 . I am happy to report with the markets so far this year, through the end of april, we have exceeded 19 billion in assets. And on target to return over 14. 5 return for the current fiscal year. Again as long as the Financial Markets hold through june 30, it seems arbitrary but that is the time that we do a snapshot and measure the health of the plan. So over the four years since the great recession, as its called, we have increased the market value of this trust approximately 5. 1 billion. And at the same time over this same period we paid in excess of 3. 5 billi 3. 5 billion in benefi. Can you talk about the difference of actuary value and market value. The actuary is what they determine it will grow, which is currently 7. 58 , and ea
Budget and finance committee, i am mark farrell, i will chairing this meeting, and want to thank sfgtv for taping this meeting. Clerk, any announcements . Yes, chair, please silence all phones and submit documents to be submitted to the clerk, as today will appear on the may 33 meeting. Call item 1. Item 1, proposed budget and appropriation ordinance for selected departments as of may 1, 2014, fiscal yearending june 30, 2015 to june 30, 2016. Item 2, proposed annual salary ordinance for selected departments for yearending june 30, 2015 and june 30, 2016. Item 3, hearing for mayors proposed budget for selected departments, for fiscal year 20142015, and 20152016. Thank you very much, we have a continuing number of city departments coming before us, three departments, Child Support services, retirement system and municipal transportation agency, with that we will start with Child Support services. Good morning chair farrell and members of the committee, i am carol roy, head of child servi
Membership broke out by active and vested and reciprocal members. Active members over a fiveyear period are still in a decrease from the level of active employees we had as members in 200809. And you can see the effects of the streamlining of the positions. Going through and coming out of that difficult period. We also show the active to retiree ratio and you see that its steadily declining but not as quickly over the last three years in the prior two years of this fiveyear snapshot. And you will notice that retired members increase by over 16 over the same fiveyear period. And that we continue to have a net increase, we measure obviously some retirees will end up eventually dying. But we still have a net increase of nearly 1,000 a year of retirees going into payment status. The next page tracks the funding levels over the last five years. You notice in 200809, we had market values assets just under 12 billion. And that was the end of the difficult Financial Markets in 200709. Mr. Chai
Mayors Budget Office and the controllers office, particularly marisa and teresa cal and teresa sandler. To help the Department Connect to county policies. And on behalf of the 11,699 children we support, thank you for your time and attention. That concludes my presentation, and i would be happy to answer any questions. Thank you very much for your presentation, colleagues do we have questions at this point in time . Comments. Okay, we dont have a budget analyst report. As you know. Thank you for being here, we will hear all three Department Budgets and then take Public Comment thank you very much. Thank you very much. Up next i believe i saw jay hulet here from our retirement system. We will get started. Good morning, members of the committee. We will have copies for the staff, they are being made right now. Hopefully you have a hard copy of my presentation. I am the executive director of the San Francisco Employee Retirement system. Our mission is dedicating to securing the trust asse
Thank you for being here, we will hear all three Department Budgets and then take Public Comment thank you very much. Thank you very much. Up next i believe i saw jay hulet here from our retirement system. We will get started. Good morning, members of the committee. We will have copies for the staff, they are being made right now. Hopefully you have a hard copy of my presentation. I am the executive director of the San Francisco Employee Retirement system. Our mission is dedicating to securing the trust assets and managing the programs and providing promise benefits. The next page shows the number of current plans, for active employees, its 14. Most of you are aware that over the last three to four years there is a lot of pension reform to the voters. Of the city and county of San Francisco, that resulted in nine additional benefit plans that we administer. We have still some folks that are actively employed that were hired prior to 1976, they are covered by a separate benefit plan, th