This is an archive of a past election.
See http://www.smartvoter.org/ca/sd/ for current information.
LWV League of Women Voters of California Education Fund
Smart Voter
San Diego County, CA November 2, 2004 Election
Proposition H
Change the Composition of the Retirement Board
City of San Diego

Charter Amendment - Majority Approval Required

247646 / 64.77% Yes votes ...... 134727 / 35.23% No votes

See Also: Index of all Propositions

Results as of Dec 15 1:35pm
Information shown below: Fiscal Impact | Impartial Analysis |

Shall the Charter be amended to change the composition of the Retirement Board as follows: seven highly qualified citizen appointees without interests in the City's pension system, four members elected from classifications of active membership (one police, one fire, two general), one member elected from the ranks of the retired, and one member appointed by the City Manager from City management?

Fiscal Impact from City Manager:
The effect of this proposition changes the composition of the Retirement Board, requiring seven of the thirteen members to be professionals with at least fifteen years experience in related fields, and with no personal or professional stakes in the Retirement System. No board members receive compensation to serve on the Retirement Board.

The proposed ballot measure to change the composition of the Retirement Board carries no fiscal impact.

Impartial Analysis from City Attorney
The City Council has authorized the placement of a proposition on the ballot seeking voter approval to amend Article IX, section 144 and Article X, section 7 of the City Charter to change the composition of the City's Retirement Board and change the qualifications for appointment to the Board.

Under the current Charter, the Board is composed of thirteen members: the City Manager, the City Auditor and Comptroller, the City Treasurer, three members elected by the active general membership, one member elected from City retirees, one member elected by the active membership from Fire Safety, one member elected by the active membership from Police Safety, and four citizens appointed by the Council, one of whom must be a local bank officer. The Charter prescribes six-year terms for Board members.

Voter approval of this measure would maintain the total number of Board members at thirteen, but change the terms of office to four years and change the composition of the Board as follows: seven citizens with professional qualifications appointed by the Council, two members elected by the active general membership, one member elected from City retirees, one member elected by the active membership from Fire Safety, one member elected by the active membership from Police Safety, and one top ranking City management employee appointed from the administrative service of the City.

The measure includes qualifications for the citizen appointees to the Board. The seven citizen appointees must have a college degree in finance, economics, law, business, or other relevant field of study, or a relevant professional certification. Additionally, a citizen appointee must have a minimum of fifteen years experience in pension administration, pension actuarial practice, investment management, real estate, banking, or accounting.

The measure also contains qualifications for citizen appointees in order to prevent conflicts of interest. First, "no person who is a City employee, participant in the Retirement System, or City union representative may be eligible for appointment in this category." Second, "appointees shall not have any other personal interests which would create a conflict of interest with the duties of a Board member and trustee." At the Council hearing regarding placement of the measure on the ballot, the City Attorney interpreted this language with more specificity and obtained Council concurrence to verify the Council's intent. A "participant" in the Retirement System is a person who has assets invested with the Retirement System or who is designated as a beneficiary for someone with assets invested in the Retirement System. A "personal interest" that conflicts with Retirement Board duties means an income interest that is reportable on a Statement of Economic Interests in the City, the Retirement System, or any entity contracting as a plan sponsor with the Retirement System. A person who is a "participant" or who has a "personal interest" is not eligible for appointment to the Board as a citizen appointee. Additionally, a stockbroker or bond broker actively engaged in doing business with the City or the Retirement System is ineligible for appointment.

 
Suggest a link related to Proposition H
Links to sources outside of Smart Voter are provided for information only and do not imply endorsement.


San Diego Home Page || Statewide Links || About Smart Voter || Feedback
Created: December 15, 2004 13:35 PST
Smart Voter <http://www.smartvoter.org/>
Copyright © League of Women Voters of California Education Fund   http://ca.lwv.org
The League of Women Voters neither supports nor opposes candidates for public office or political parties.