Subject: 14th Check
The Fire & Police Pension Board meets
the last Tuesday of every Month. On April 26, 2022, 0930am at the Pension Office. Pension Fund’s agenda will include an item regarding the authorization of a 14th Check for all Police and Fire retirees.
As you know, if the Fund achieves the necessary investment return of 10.25% annualized over the past 5 years the Board has the discretion to issue a 14th Check.
The Board voted to issue the 13th Check at its January meeting and all retirees received the 13th Check in the second week of February 2022. The necessary investment hurdle for the 13th Check was 8.25% annualized over the past 5 years.
I believe we will surpass the 10.25% annualized investment return required by state law authorizing the Board to consider a 14th Check.
While I believe the Board will vote unanimously to authorize the 14th Check, if the necessary investment return allows it, I suggest retired members attend the Board meeting on April 26, 2022 at 0930 a.m. to support the Board in its decision regarding this issue.
Thanks for the hard work it takes to achieve these performance levels.
Regards,
Harry Griffin
Board Member, San Antonio Fire and Police Pension Fund
The Fire & Police Pension Board meets
the last Tuesday of every Month. On April 26, 2022, 0930am at the Pension Office. Pension Fund’s agenda will include an item regarding the authorization of a 14th Check for all Police and Fire retirees.
As you know, if the Fund achieves the necessary investment return of 10.25% annualized over the past 5 years the Board has the discretion to issue a 14th Check.
The Board voted to issue the 13th Check at its January meeting and all retirees received the 13th Check in the second week of February 2022. The necessary investment hurdle for the 13th Check was 8.25% annualized over the past 5 years.
I believe we will surpass the 10.25% annualized investment return required by state law authorizing the Board to consider a 14th Check.
While I believe the Board will vote unanimously to authorize the 14th Check, if the necessary investment return allows it, I suggest retired members attend the Board meeting on April 26, 2022 at 0930 a.m. to support the Board in its decision regarding this issue.
Thanks for the hard work it takes to achieve these performance levels.
Regards,
Harry Griffin
Board Member, San Antonio Fire and Police Pension Fund