The San Diego City Employees’ Retirement System (SDCERS) today announced the reappointment of Herb Morgan and Edward Kitrosser and the appointment of Athanasios (Thanasi) Preovolos to the Board of Administration. Morgan, Kitrosser and Preovolos have been appointed by Mayor Bob Filner to serve four-year terms ending March 31, 2017.
Herb Morgan brings more than 25 years of experience in investment management and advisory services to the Board. Morgan is the CEO and CIO of Efficient Market Advisors, LLC, an investment advisory firm. He has also held senior level investment management positions at Pilgrim Securities in Phoenix, Dreyfus Service Corporation and Seligman Financial Services. Morgan holds a Bachelor of Arts degree in Economics from the University of California, Santa Cruz. This will be Morgan’s second term on the Board. He has served as SDCERS’ Board President since December 2011.
Edward Kitrosser is a retired CPA with more than 40 years of experience in accounting, auditing, tax and consulting services. He was an Audit Partner and the San Diego Office Managing Partner for Moss Adams, LLP, an accounting and consulting firm specializing in account and tax services for public, private and non-profit enterprises until he retired in December 2009. Kitrosser received a Bachelor’s degree in Business Administration in Accounting from the Bernard M. Baruch Scott of Business and Public Administration in New York. This will be Kitrosser’s second term on the Board.
Athanasios (Thanasi) Preovolos is an attorney with more than 15 years of experience in estate planning and qualified and non-qualified benefit plan management. He is the owner at Preovolos Lewin & Hezlap, ALC where he specializes in asset protection strategies. In addition, Preovolos represents clients with pension plan compliance issues before the Internal Revenue Service.
Morgan, Kitrosser and Preovolos' appointments were confirmed by the City Council on Tuesday, June 25th. Preovolos was sworn by the City Clerk in immediately following the Council meeting.
SDCERS administers defined benefit plans for the City of San Diego, the San Diego Unified Port District, and the San Diego County Regional Airport Authority and provides service retirement, disability retirement, death and survivor benefits to more than 20,450 members. As of March 31, 2013, SDCERS has $5.8 billion in net investments.
The SDCERS Board of Administration meets nine times a year, approximately every six weeks, on Fridays at 8:30 a.m. For more information about SDCERS’ Board of Administration, its members and a meeting schedule click here.