Category: Pension Fund

COLA Increase and Potential 13th check

1/22/2021

Harry Griffin, Board Member - Fire & Police Pension Fund,
Would you please pass on the following information about our COLA increase and potential 13th Check:
The COLA increase in monthly checks will be seen in each retiree’s check, as of January 31, 2021. The increase will be 1.4% for older retirees ( those who retired prior to 9/30/99; and 1.1% for those of us who retired after 1999. You can log into the pension fund website and view the actual dollar amount your monthly pension will increase....the data is there now.

The preliminary pension fund performance numbers are in for 2020. It appears we will have greater than a 9% return for the year ended 2020. This is amazing since our investment performance as of April 2020 was approximately a negative 5%. In fact, our performance as of September 30, 2020 was .6% ( less than 1% ). The final quarter of 2020 , provided us with that amazing “V” return and we ended the year with investment performance that should allow the Board to issue a 13th Check. The Board has not yet met to determine when this check will be issued, but if the positive 9% return holds, as performance numbers come in from our non-publicly traded investments, I expect we will receive a 13th Check in March 2021.

I will keep you informed if things change, but I expect 2020 investment returns, coupled with the previous 4 years will allow the Board to vote in favor of issuance of a 13th Check.

Regards,
Harry Griffin, Board Member
Fire & Police Pension Fund, San Antonio

Pension Fund Office reopens

7/19/2020

SA Fire & Police Pension Fund Office
The San Antonio Fire and Police Pension Fund announces that operations have now resumed at their office.

The main impact to retirees has been the possibility for meetings about retirement planning and benefits. The pension fund says that retirement meetings may be scheduled with staff, but it still recommends remote meetings — by phone and email — if possible.

If you prefer an in-person meeting, the pension fund asks you to call
shortly before coming to the office. Their number is 210.534.3262.

Pension Fund Office cautiously reopens

7/11/2020

SA Fire & Police Pension Fund Office

The San Antonio Fire and Police Pension Fund announces that operations have now resumed at their office. The staff had been performing their jobs remotely to continue pension fund work during the city- and county-ordered shutdowns.

The main impact to retirees has been the possibility for meetings about retirement planning and benefits. The pension fund says that retirement meetings may be scheduled with staff, but it still recommends remote meetings — by phone and email — if possible.

“We still recommend an abundance of consideration to safety for the sake of all our members and staff,” said the system’s Facebook post.

If you prefer an in-person meeting, the pension fund asks you to call shortly before coming to the office. Their number is 210.534.3262.

SA Fire & Police Pension Fund – Second Seminar Scheduled

7/2/2020

SA Fire & Police Pension Fund – Second Seminar Scheduled

Due to the High level of interest and limited seating, A second Seminar will be held on Friday, July 10 from 930am – 1200pm. Pension office, 11603 W. Coker Loop,
Ste 201.

Topics: Understanding Your benefits, Understanding the Numbers behind the Numbers Need for Financial Planning, Retiree Medical Insurance

Seminar will be conducted in accordance with local pandemic orders. Advance Registration is required. Call 210-534-362.

Pension Fund Seminar

6/26/2020

SA Fire & Police Pension Fund
Seminar will be held on Monday, July 06 from 930am – 1200pm. Pension office, 11603 W. Coker Loop, Ste 201.
Topics: Understanding Your benefits, Understanding the Numbers behind the Numbers
Need for Financial Planning, Retiree Medical Insurance

Seminar will be conducted in accordance with local pandemic orders. Advance Registration is required.

Pension Fund Update - April 20, 2020

4/22/2020

From: Harry Griffin
Subject: PENSION FUND UPDATE - April 20, 2020

It has been two weeks since the last San Antonio Fire & Police Pension Fund update and our City, State and Country are still suffering the medical and economic hardships of the Corona Virus.
As of Friday 4/17/20 the Fund’s value was $ 3,077,000,000.00. Our Fund has increased in value $72 million dollars in the past two weeks.
That said, the markets are down today, Monday, and oil prices have fallen precipitously today, down to their lowest price per barrel in 34 years.

As mentioned previously, your pension fund takes less risk in its investments than the risk in the stock market.
As of Friday 4/17/20 we are down 9.0% for the calendar year and the S&P 500 is down 11.41%.

I have mentioned our Fund earned a positive 14.9% for the calendar year 2019, that return has increased to 15.0%, due to final market value returns continuing to come in from our less liquid investments. These investments do not report values daily like publicly traded securities.

I thank you for allowing me to play a small role in the governance of our pension system, and I will continue to provide updates during these very trying times.

Finally on an unrelated note, today, April 20, was the birthday of our oldest living SAPD officer, Sergeant Jimmy Gaffney, he is 97 years old today.

Regards, Harry Griffin

PENSION FUND UPDATE

4/4/2020

From: Harry Griffin [mailto:hgriffin@satx.rr.com]
Subject: Pension Fund Update 4/4/2020

Armando,

I have received several calls, texts and emails recently asking about the stability and health of our Pension Fund. Would you please share the following with all of those who receive a pension from our Fund:

The San Antonio Fire & Police Pension Fund continues to be one of the strongest pension systems in our Country and the State of Texas. As of approximately 4 weeks ago the value of our Fund was $3.3 Billion dollars, the highest it has ever been. We had a great year in 2019, with a 14.9% investment return. As you know, the last 4 weeks have been terrible for investments, and we are down -9.4%. The value of our Fund as of yesterday ,4/3/20 ,was $ 3.05 Billion. I believe the Fund value will be further reduced by 2-3% when we receive values from our less liquid investments like real estate and private equity, which report their values only quarterly. Even with all the negative impact of the Corona-Virus of the past month, we are strong and pensions will be paid monthly, as always.

As you noticed, we were up just under 15% in 2019 when the S&P500 was up nearly 30%. Conversely, we are down just -9.4% for the first 3 months of 2020, when the S&P500 is down -22.3%. Our Fund is well diversified: 46% Stocks, 32% Bonds, 9% Real Estate, 9% Hedge Funds, 3% Real Assets ( Timber, Oil & Gas, Infrastructure ) and 1% Cash. This diversification allows for us to take less risk than the stock market and reach a long term investment goal of 7.25% .

Finally, the pension contributions made, by all of us, while we were working for the Police or Fire Departments have been a huge contributor to the success of our Fund. Today, active members contribute $39 Million annually to our Pension Fund. There are 4062 active firefighters and police officers, and the City double-matches their contributions. The City contributes $78 Million annually to our Fund. This total annual contribution of $117 Million, along with our investment return, is funding the future liabilities of the Fund. Additionally, theses contributions ensure the health of our Fund for the 2847 of us who are currently receiving pensions.

Please rest assured that our Pension Fund is strong and that regular monthly pensions will be paid for our lifetimes. This current world-wide health crisis will end, economies will rebound and positive investment returns will return ensuring the long term stability of our retirement fund.

Harry Griffin, Board Member
Fire & Police Pension Fund, San Antonio

Retirement Plaques

2/18/2020

San Antonio Fire & Police Pension Meeting and Retiree’s Presentation

February 26, Wednesday, 0900am, the Police Retiree’s of 2019 will be presented their Retirement Plaques
at the regular scheduled Board Meeting to be held at the Pension Fund office, located at 11603 W. Coker Loop

Some Retirees will pick them up at their convenience from the Pension Office.

Retiree’s from the Fire Dept will receive theirs in March meeting.

Pension Fund Board Meeting

1/25/2020

Pension Fund Meeting

Please be advised the regular meeting of the Board of Trustees of the Fire and Police Pension Fund will be held at 9:00 a.m. on Wednesday,
January 29, 2020, at the Pension Office, 11603 W. Coker Loop, Suite 201.

WARREN J. SCHOTT, EXECUTIVE DIRECTOR FIRE AND POLICE PENSION FUND

Understanding Your Benefits Seminar

1/25/2020

Understanding Your Benefits Seminar

The Fire and Police Pension Fund will be conducting its monthly seminar focused on understanding your Pension and Retiree Health Care benefits on Friday, February 7, 2020, from 1:00 PM until 3:30 PM.

The seminar will be held at the San Antonio Fire and Police Pension Fund, 11603 W. Coker Loop, Ste. 201. Space is limited.

To register for the seminar, please call the Pension Office (210) 534-3262.

A funny thing happened

10/25/2019

Funny Things Happen ……… At This Year’s SA Fire & Police Pensioners Association – 46th Annual Reunion Luncheon

I was by registration/ticket table when I heard someone’s voice getting louder as he was talking to the volunteer person. A member was arguing about not getting a postcard about event, so he wasn’t on the list. He stated they must have his address since he gets his pension check every month. The volunteer kept saying “Your check goes to your bank “Direct Deposit” not to your address. But he didn’t get it.

IS YOUR ADDRESS UPDATED WITH THE PENSION BOARD ????
PS: He got in.

Honoring Our Oldest Retirees

3/23/2019

From: Harry Griffin
We Will Honor The Oldest

Retired Police Sergeant James “Jimmy” Gaffney is age 95. Jimmy Gaffney will be 96 on April 20, 2019.

Retired Fire Department Captain Manuel Vela, who is 98 and will turn 99 the following day on Mar 28, 2019.

They will be honored at the pension fund meeting on Wednesday 3/27/19 at 9:00 am., at 11603 W. Coker Loop, San Antonio Texas. 78216.

Please consider attending this meeting and help us celebrate these two men who served the citizens of San Antonio and have lived long honorable lives.

Pension Fund Elections for 2019

3/23/2019

Pension Fund Elections 2019

The filing period for the 3 Pension Board positions closed as of 4:00 pm on Friday. All 3 incumbents filed for re-election and no one else filed for any of these 3 positions.

As such, James Smith will serve again, as one of the active Police Trustees, JT Trevino will serve again, as one of the active Fire Trustees, and Harry Griffin will serve again, as the retired Police Trustee.

The mission is to provide retirement security for San Antonio Firefighters and Police Officers, both active and retired. We look forward to our mutual continued success and safeguarding the assets of our Fund, so those retired today and those retiring in the future can rest assured they will enjoy the fruits of their many years of public service.

Respectfully, Harry Griffin

SA Fire & Police Pension Fund Trustee Meeting

1/27/2019

SA Fire & Police Pension Fund
Will hold the monthly Trustees meeting on Wed, Jan 30, 2019, at 0900am.
11603 W. Coker Loop #201
Agenda will be posted beforehand at : www.safppf.org

Pension Fund COLA effective 2019

1/13/2019

From: Harry Griffin
Subject: Pension Fund COLA-San Antonio Fire & Police Pension Fund

The CPI-U (COLA) for calendar year 2018 has been released and is 1.9%. This COLA increase will be effective as of January 1, 2019. For those who retired effective 9/30/99 or earlier you will receive a 1.9% increase in your monthly pension check.

For those who retired from 10/01/99 through 1/01/2018 you will receive a 1.4% increase in your monthly pension check.

Finally, for those who retired in 2018, you will receive a prorated share of the 1.4% amount based on full moths retired in 2018. You will see the increase in your January 2019 check.

Harry Griffin, Board Member
Fire and Police Pension Fund