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From the CEO...

Recently, without notice to or any involvement by SDCERA, a False Claims Act action was filed by a former SDCERA employee.

SDCERA had the right to intervene in the action, and the Board voted to do so. The Board’s decision to intervene is not an indication that the Board or any Trustee agrees with any allegation contained in the action.

Contrary to some recent press reports:

   The action was not filed “jointly” by SDCERA and the former employee,

   SDCERA is not “joining” in the action with the former employee, and

   SDCERA is not “teaming up with” the former employee.

Consistent with its fiduciary and constitutional duties, SDCERA will investigate the allegations and take appropriate action.

To read my most recent Report to the Board of Retirement, click here.