Local 21 and almost all other city employee unions have joined with the retiree organization, Protect Our Benefits (POB) to endorse former Retiree Board President Al Casciato for the San Francisco Retirement Board. The large coalition of determined partners, including Local 21, are supporting Al to replace incumbent Herb Meiberger who has been a huge barrier to better investment returns on the board.
Active members and retirees alike feel that earning the best possible returns on retirement investments is a number one priority. The less our retirement fund makes, the more we have to contribute. Instead, employee contributions have gone up again because returns have not been what they should be.
We need strong advocates on the Board who will make good decisions in service of our goals. While the group endorsed Mr. Meiberger in prior elections, he has proven to be obstructive and someone that city workers can no longer depend on to protect their benefits.
Stay tuned for more information as we ramp up a vigorous campaign in support of Al Casciato, who has a long and distinguished background working on the Retirement Board, and who we can trust to have our backs!