District Retirement Board

Overview

The San José-Evergreen Community College District Retirement Board consists of nine members appointed by the Board of Trustees to govern the district’s compliance plan relating to Governmental Accounting Standards Board (GASB) Statements 43 & 45. These statements recommend reporting and funding guidelines for Other Post-Employment Benefits (OPEB) (i.e., retiree medical, dental and other welfare plans provided to eligible employees and retirees). According to a GASB 43 & 45 actuarial report completed in November 2007, the district had an annual accrued OPEB liability on June 30, 2007 of $47,719,500. Of this amount, $37.2 million represented the estimated liability for current retirees’ welfare benefits and $10.5 million represented the estimated liability for active employees not yet retired who are eligible for welfare benefits.

The Retirement Board’s first official meeting was conducted on February 7, 2008. The Board approved a plan to be compliant with GASB 43 & 45 compliance guidelines, including establishment of an irrevocable trust from which OPEB liabilities are to be paid. The Board appointed a GASB 43 & 45 advisor, a trust company and an investment manager as part of the compliance plan. It also established a formal investment policy and reviews the performance of the trust company, which in turn monitors the performance of the investment manager in achieving the goals reflected in the investment policy.

All Retirement Board meetings are subject to the requirements of the Brown Act.

Membership: Retirement Board of Authority ("Board") Members

Vice Chancellor, Administrative Services	Edwin Chandrasekar
Interim Vice Chancellor, Human Resources	Shairon Zingsheim
Executive Director, Fiscal Services	Joseph Chesmore
Faculty and Member, AFT 6157 (RBOA Vice-Chairperson)	Jessica Breheny
Retired Faculty and Member, AFT 6157	Patrick Butler
Retired Faculty and Member, AFT 6157	David Yancey
Staff and Member CSEA, Chapter 363 (RBOA Chairperson)	Dan Hawkins
Staff and Member CSEA, Chapter 363	Maria Holguin
Retired Staff and Member CSEA, Chapter 363	Arlene Amelia

Actuarial Documents

SJECCD Futuris Trust Reports