"Truth & Fiction" SFERS Board Member Herb Meiberger Exposes IFPTE 21 Muscat Hit Video

"Truth And Fiction" SFERS Board Member Herb Meiberger Exposes IFPTE 21Muscat Hit Video On His Record

The IFPTE Local 21 run by executive director Bob Muscat has produced a hit video attacking Herb Meiberger who is a board member of the San Francisco Employees Retirement System SFERS. Meiberger has opposed more of the city employee pension funds being invested in speculative hedge funds. Meiberger explains what is really going on with the "charges" against him by Bob Muscat. Both The IFPTE Local 21 leadership, the Police Officers Association POA and the Management Employees Association MEA have pushed for more hedge fund investments and now want to remove the only non-fire and police representative on the pension board representing all San Francisco city employees. They and the POA also tried to bully Meiberger to drop out of the race. Muscat, the MEA and the SFPOA also supported taking away the COLA that city workers have won for their pensions in a so called "reform pension" initiative that particularly hurt low paid CCSF workers which actually cut their pay by cost shifting the costs of the pension and healthcare on their backs. The same crew supports Wells Fargo bank which stole homes from SF City workers and has a racist discrimination record. These same unions heads are now spending hundreds of thousands of dollars to remove Meiberger from the board and this could include money from hedge fund operators who would benefit from kicking Meiberger off the board. This presentation was made to City and County workers on December 16, 2016.
For more information on Herb Meiberger go to
http://herbmeiberger.com
http://1021.seiu.org/page/-/ReElectHerbMeiberger-SFERSBoard.pdf
Additional media:
http://www.stoplhhdownsize.com/What_Price_for_a_Seat_at_the_Retirement_Board_Table.pdf
http://www.ibtimes.com/san-francisco-hedge-fund-proposal-raises-conflict-interest-questions-1700230
http://www.pionline.com/article/20140609/PRINT/306099987/buffetts-suggestion-to-pension-fund-trustee-dont-invest-in-hedge-funds
https://www.indybay.org/newsitems/2016/12/02/18794329.php
http://www.wsj.com/articles/teachers-union-and-hedge-funds-war-over-pension-billions-1467125055
http://blog.sfgate.com/cityinsider/2014/12/15/financial-questions-dog-former-sf-first-lady-wendy-paskin-jordan/
http://code.socialdashboard.com/news/investment-by-san-francisco-pension-official-raises-questions-about-favors
https://www.youtube.com/watch?v=bjznPAFcCNE&feature=youtu.be
http://youtu.be/dCz5eMvYPBA
https://www.youtube.com/watch?v=Exbl3wwBx9Y
https://www.youtube.com/watch?v=p6VTO4UHrjk
https://soundcloud.com/workweek-radio/ww12-23-14-sf-public-pensions-with-david-sirota-ca-dir-secret-confernce
http://www.sfchronicle.com/bayarea/article/Ties-questioned-for-financial-adviser-and-former-5959036.php
http://www.aft.org/sites/default/files/allthatglittersisnotgold2015.pdf
http://www.sfexaminer.com/police-watchdog-officer-wrongly-arrested-deputy-public-defender-courthouse/
Production of Labor Video Project
http://www.laborvideo.org


Is SFERS Board Member Driscoll Falsifying The State of the SFERS Pension Fund For Political Purposes?
Did the Fund lost $1.5 million last year? Did the Fund lose $2 billion over the last two years?

Your fund is doing “amazingly well”!

. At the 12-14-2016 Retirement Board meeting, SFERS’ General Consultant, Allan Martin from NEPC, reported that the Fund’s returns for FY2016, FY2015, and FY2014 were 1.29%, 3.87%, and 18.90%, respectively. Allan Martin stated that the Fund did “amazingly well.” SFERS ranked 16th, 16th, and 3rd, respectively, for the last three fiscal years compared to 50 public pension funds with assets greater than $1 billion.

. Staff and consultant stated that the portfolio was valued at $20.4 billion on 6-30-2015 and $20.2 billion on 6-30-2016. Since the Fund had a positive rate of return, the $200 million decline in asset value was due to benefit payments.

. For the 3-year period ended 9-30-2016, the Fund earned 7.20% per year, placing SFERS as the third best performing fund in the universe of 50 public pension funds. No public funds earned returns greater than 7.50%, which is SFERS’s long-term return assumption.

. NEPC stated: “For the year ending 9-30-2016, the Fund experienced a net investment gain of $1.89 billion, which includes a net investment gain of $764.5 million during the third quarter.” Further, “Assets increased to $20.96 billion from $19.72 billion in the year ended 9-30-16, with $639.79 million in net distributions.”

SFERS’s Chief Investment Officer (CIO), Bill Coaker, verified to the full Board that the fund had not declined by $1.5 billion for the year, as stated by MEA (Municipal Executives Association) in an email that was broadly circulated. Separately, Executive Director Huish stated that he would correct this misinformation that was shared with thousands of City employees.

. For the full discussion, please view Item 8 on the official videotape of the meeting at http://sanfrancisco.granicus.com/MediaPlayer.php?view_id=175&clip_id=26782

Did Meiberger “block” an investment that made $37 million?
Everyone, especially fiduciaries, must be concerned about whether the illiquid high-risk, high-return Chinese “A Shares” investments are appropriate for your pension fund. Meiberger did his homework and is ahead of the curve.

. In March 2014, Investment Committee Chairman Meiberger hosted an education session on acquiring the “QFII" allocation (Qualified Foreign Institutional Investor) to own the Chinese shares directly. The Chinese stock market has had substantial returns over the last three years.

. In June 2016, Meiberger voiced his concerns about staff’s $400 million recommendation because 1) He was concerned about the issue of whether SFERS would own the shares, and 2) He didn’t want to be captive to the money manager who would be the beneficial owner of the shares. Leona Bridges, Chairwoman of the Investment Committee, also voted no, and there was a 3-3 tie.

. Subsequently, Meiberger did his due diligence and went to China where he met the managers and discussed the investment with other pension funds and key players. On October 2016, the Board voted unanimously in favor of the investment. I don’t believe four days is enough time to make an educated decision on this risky and complex investment. This is the kind of representation and dedication Meiberger provides for you.

It appears that Commissioner Joe Driscoll may have instigated the smear campaign against Meiberger, as he signed off on the “loss of confidence” propaganda, and solicited opponents in Meiberger’s last two elections. If Driscoll is the source of this disinformation that the Pension Fund lost $1.5 billion last year that was fed to Casciato and Casciato’s surrogates, Driscoll may have violated the Charted Financial Analyst’s (CFA) Code of Ethics, since it would be “material misrepresentation” prohibited by the CFA’s ethics guidelines. Is this the “team” that Casciato will join as a “team player?” If you can’t support false truths and ethics violations then you must vote for Herb Meiberger!


YOUR PENSION FUND IS THRIVING!

Re-elect Herb Meiberger, CFA.

SF Police watchdog: SFPOA officer And SFERS Board Member wrongly arrested deputy public defender in courthouse
http://www.sfexaminer.com/police-watchdog-officer-wrongly-arrested-deputy-public-defender-courthouse/
Deputy Public Defender Jami Tillotson, right, was arrested by Sgt. Brian Stansbury in the Hall of Justice in January 2015. (Courtesy photo)
By Jonah Owen Lamb on March 11, 2016 11:08 am

A deputy public defender was wrongly arrested by a San Francisco police officer when she tried to stop the officer from talking to her client in the Hall of Justice last year, the Police Department’s watchdog agency has determined.

But Deputy Public Defender Jami Tillotson is discouraged by the conclusion of the investigation into her arrest. She said that while the video clearly shows the officer was in the wrong when he handcuffed her, the findings seem to indicate there will be little to no accountability.

“If you give a citizen of San Francisco a black eye, you should be held accountable for that,” she said. “I’d like to see [the officer] at a desk job. I don’t think he has a good idea of the boundaries of his authority.”

The finding comes from the Office of Citizen Complaints, which investigated the January 2015 incident and issued their findings in December. The incident was caught on video.

Those case details were made public Friday by the complainant, and include findings that the officer made an arrest without cause, and that his detaining of a person without justification for a prolonged period was unwarranted.

Other allegations in the complaint were not sustained, but the OCC recommended that the department change its policies regarding interfering with a lawyer’s right to counsel their client and making inappropriate comments to the media.

The department could not say whether Chief Greg Suhr has made a ruling on the case. In sustained cases, the chief has the discretion to punish any officer for up to a 10-day suspension. Any punishment above that must go before the Police Commission.

Tillotson used to tell her clients that they should all file complaints with the OCC, despite many saying it was pointless. Now she agrees.

“I had more confidence in [the OCC] despite the fact that my clients were telling me it was a waste of time,” she said.

Tillotson was arrested Jan. 27, 2015, and booked on a misdemeanor resisting arrest charge for refusing to let a client of hers be questioned by a police investigator who was also trying to take pictures of the client.

The arresting officer, Sgt. Brian Stansbury, was questioning the man in connection with a separate criminal investigation.

Tillotson’s client was in court that day while she was in another courtroom for a case, when she heard that an officer was questioning her client in the hallway.

She walked into the hall and told her client he did not have to answer Stansbury’s questions, and tried to stop the officer from taking photographs. Stansbury objected and ultimately arrested her for resisting arrest and obstructing his investigation.

Since her arrest, the charges have been dropped and Suhr apologized for any distress the incident caused her, but has also insisted Stansbury had a reasonable suspicion to take the photos.

“I think this incident raises questions. Do the police have a practice of photographing people in courtrooms?” Alan Schlosser, the ACLU’s legal director for Northern California, previously said about the arrest of Tillotson.

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https://www.youtube.com/watch?v=oTpKYF5KqBA
Added to the calendar on Sunday Dec 18th, 2016 12:51 PM
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§IFPTE Local 21 Bob Muscat Joined With POA & SF Mayor Ed Lee to Push Anti-Labor Proposition
by United Public Workers For Action Sunday Dec 18th, 2016 12:51 PM

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IFPTE Local 21 Executive Director Bob Muscat has said that he thinks that the COLA that SF city workers have won is "indefensible". He has pushed give back initiatives attacking city worker pensions and healthcare benefits and also attacked SF TWU 250 A drivers for voting down concessions pushed by former mayor Gavin Newsom. Muscat while attacking the pensions of city workers is making hundred of thousands of dollars from his position at the IFPTE Local 21. He follows the footsteps of Andy Stern who he used to work for at the SEIU.
https://www.youtube.com/watch?v=oTpKYF5KqBA
§Hedge Fund Speculator Wendy Paskin-Jordan Appointed To The SFERS By Mayor Ed Lee
by United Public Workers For Action Sunday Dec 18th, 2016 12:51 PM

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Corrupt mayor Ed Lee re-appointed hedge fund speculator Wendy Paskin-Jordan to the San Francisco Employees Retirement Board and has used her position to get special deals with speculators for being on the board and pushing more pension money into hedge funds. She has had recuse herself on some votes because of flagrant conflicts of interest and she is supported by IFPFE Local 21 Muscat, the SFPOA and the MEA who want to turn the fund over to speculators and hedge fund operators so their friends can get kickbacks.
https://www.youtube.com/watch?v=oTpKYF5KqBA