Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Supervisor Dave Pine, District 1
Supervisor Ray Mueller, District 3
Subject: Appointment to the Board of Retirement of the San Mateo County Employees' Retirement Association (SamCERA)
RECOMMENDATION:
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Recommendation for the appointment of Rachel Perkel (Sixth Member) to the Board of Retirement of SamCERA, for an initial term ending June 30, 2027.
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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:
Rachel Perkel is being recommended as the Sixth Member, formerly represented by Mark Battey who vacated the seat at the end of his term. The term of this appointment would end June 30, 2027.
Rachel Perkel has over 30 years of professional experience in investments, asset management and banking. Early in her career, she worked as an investment analyst at Fidelity Investments and later managed retail retirement products, retirement education programs and asset management relationships at Wells Fargo Investments. More recently, she was an executive overseeing Wells Fargo’s Private Bank business in Silicon Valley. In 2019, she transitioned from Wells Fargo to join a global non-profit organization focused on impact investing.
FISCAL IMPACT:
None.