Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: President David J. Canepa, District 5
Subject: Reappointments to the Board of Retirement of the San Mateo County Employees' Retirement Association (SamCERA)
RECOMMENDATION:
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Recommendation for reappointments to the Board of Retirement of SamCERA, each for a term from July 1, 2025 through June 30, 2028:
A) Kimathi Marangu (Fifth Member), for a second term; and
B) Kurt Hoefer (Ninth Member), for a final fourth term.
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BACKGROUND:
The Board of Retirement serves as fiduciary for the members of SamCERA and as a prudent administrator of the retirement fund. Four of the nine members of the Board of Retirement are appointed by the Board of Supervisors, each for a term of three years.
DISCUSSION:
Kimathi Marangu has served on the SamCERA Board since 2022 and is currently Vice Chair. He is being recommended for reappointment for a second term. Kurt Hoefer has served since 2016 and is being recommended for a fourth and final term. Upon approval, the term of each reappointment is effective July 1, 2025 through June 30, 2028.
Adding to his financial career which includes work with Morgan Stanley, J.P. Morgan, Apple and Cartera Commerce, Kimathi Marangu is a senior leader at Visa, Inc which he joined in 2012. He currently serves on the Advisory Board and Supervisory Committee at Stanford Federal Credit Union, and the Board of Compass Family Services in San Francisco. Prior boards include the American Red Cross Bay Area, Stanford Business School Alumni Association (President) and Alumnae/i Association of Vassar College (Chairman, Vassar Fund). A 26-year Burlingame resident, Mr. Marangu holds a Bachelor's degree from Vassar College and an MBA from Stanford Business School. His strong fiscal expertise, local connections and desire to give back to the community has made him an excellent addition to the SamCERA Board of Retirement.
Kurt H...
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