Board of Retirement

Overview

The Board’s Role

The Board of Retirement’s primary role is to ensure SBCERA is appropriately governed and managed to fulfill its mission on behalf of its members, beneficiaries and participating employers.

Consistent with this role, the Board serves as trustee of the SBCERA investment fund and has a constitutional, statutory, and fiduciary duty to administer the retirement system in a sound and prudent manner. Therefore, the Board is charged with making decisions solely in the interest of, and for the exclusive purpose of providing the earned benefits to SBCERA’s members and beneficiaries.

The Board’s responsibilities include: maintaining sole and exclusive authority over plan assets; setting investment strategies; selecting external, professional investment managers and advisors; monitoring and managing all investments in coordination with staff and advisors; administering benefits efficiently and lawfully; appointing the Chief Executive Officer and Chief Counsel; and ruling on disability retirement claims and special cases.

Each member of the Board is bound by the Board’s Statement of Governance Principles and Code of Ethics. The Board of Retirement’s responsibilities and functions are governed by the applicable provisions of the California Government Code, along with the By-Laws and policies of SBCERA.

Board Composition

The Board consists of nine members and three alternates including:

  • Four members appointed by the San Bernardino County Board of Supervisors
  • Two General Member Trustees elected by the General members
  • A Safety Member Trustee and Alternate elected by the Safety members
  • A Retired Member Trustee and Alternate elected by the Retired members
  • The San Bernardino County Treasurer who serves as an ex officio member
  • The San Bernardino County Deputy Treasurer, appointed by the San Bernardino County Treasurer, who serves as an alternate ex officio member

All members of the Board, with the exception of the County Treasurer, serve three-year terms.

Board Meetings & Committees

Board meetings are generally held on the first Thursday of each month at 9:00 a.m. in the SBCERA Board Chambers located at 348 W. Hospitality Lane on the First Floor in San Bernardino, CA. Please reference the Board of Retirement Agendas and Minutes page for exact dates and times. These meetings are open to the public.

In addition, the Board holds separate meetings for the following committees: Administrative, Audit, Executive, and Investment. These committees have an important role in assisting the Board in carrying out its responsibilities by making recommendations to the Board.

Each committee consists of three to four Board members and includes at least one elected and one appointed Board member. Typically, the Investment Committee meets on the second Tuesday of the month and the Administrative Committee meets on the third Thursday of the month. The Audit and Executive Committees meet as needed. Committee meetings are subject to change and cancellation, and are open to the public.

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