Board Member

Employer
Spokane Employees' Retirement System
Location
Spokane, Washington State
Salary
Volunteer
Posted
Jul 27, 2022
Closes
Aug 26, 2022
Industry Sector
Government
Employment Type
Internship
Education
Bachelors

The Spokane Employees’ Retirement System (SERS or Plan) is a multiple employer defined benefit pension plan covering employees of the City of Spokane, administered in accordance with Chapters 3.05 and 4.14 of the Spokane Municipal Code.

 

 

 

All permanent employees of the City, including employees of the Plan, are eligible to belong to SERS with the exception of elected officials, who may opt out of the Plan, and police and firefighters, who are members of the State Law Enforcement Officers and Firefighters’ Retirement System. Additionally, certain SERS members that moved to the Spokane Public Facilities District (PFD) or Spokane Regional Emergency Communications (SREC) are eligible to remain in SERS. Such members have the same benefits, eligibility requirements, and contribution rates as current SERS members. The Plan has more than 3,000 participants and oversees an investment portfolio of $350 million.  As of December 31, 2021, the Plan’s funding ratio was 70.7%.

 

 

 

Management of SERS is vested in the SERS Board, which consists of seven members: three members are elected by active employee Plan members, three members are appointed by the Spokane City Council, and one member (who may not be an elected official or employee of the City) is appointed by the other six Board members.  All Board members are volunteers. The plan is seeking a qualified candidate for one of the members appointed by the Spokane City Council.

 

Additional information about the Plan can be found at http://www.spokanesers.org/home/.

 

SERS is seeking highly qualified candidates who meet the following criteria:

 

  1. 10 years of investment experience or 5 years experience as a fiduciary

 

 

Demonstrated high ethical standards in both their personal and professional lives  

 

Understanding of defined benefit plans and an institutional investing framework to include asset class diversification, asset allocation studies, the screening, selection, and oversight of investment managers, and the effective use of benchmarking criteria.  

 

Bachelors degree in related field required, with advanced degree or professional certification (e.g. CFA, CPA, or CFP) preferred.  

 

Able to attend monthly Board meetings in person.  SERS Board meetings are held on the first Monday of each month at 1:00pm in City Hall.  

 

Resident of Spokane

 

To apply, please complete the City of Spokane’s Board application and submit it along with your resume to ptencick@spokanecity.org.

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