CEO Mark Hovey Earns Top Honor

Date: Feb 12, 2015

 

SDCERS Chief Executive Officer Mark Hovey was honored at the San Diego Business Journal’s eighth annual Most Admired CEO ceremony held January 28. This event aims to showcase the leaders of the diverse corporations and institutions who not only have guided their organizations to great success but also have shaped the community around them. Hovey earned the top honor in the Government Category. SDCERS staff and Board Trustees are proud of this accomplishment which represents success for all our Members and the plan sponsors, as well as the public.
 
During his tenure, Hovey has taken the San Diego City Employees’ Retirement System (SDCERS) from a public retirement system that was the subject of widespread criticism to one that is now admired and highlighted as one of the best in the country. SDCERS’ turnaround is due, in large part, to Hovey’s vision and leadership. Under his direction, SDCERS’ investment program has seen returns of 16.8 percent for 2014 and the organization was named Best Public Pension Plan in the U.S. by Reuters PE Hub, based on the performance of its private equity portfolio. During this past year, Hovey worked with SDCERS’ general counsel, city officials and community leaders to negotiate a multi-million dollar settlement between the City of San Diego and SDCERS, resulting in significant savings in legal costs to the organization and taxpayers as well as ensuring stable funding of the SDCERS plan for its members and beneficiaries.
 
Due to his efforts, this is the first time in a decade that there is no litigation between SDCERS and the City of San Diego. Additionally, Hovey has facilitated onboarding of a new pension administration system resulting in more e­fficient and accurate processing of pension benefits for SDCERS members while lowering costs. He has consistently worked to lower SDCERS’ annual budget for the past seven years resulting in significant savings to SDCERS’ three plan sponsors (the City of San Diego, San Diego Unified Port District and San Diego County Regional Airport Authority) and the taxpayers. Internally, Hovey has been instrumental in developing and refining a successful Rewards and Recognition Program for SDCERS employees, instituting employee surveys and following through on employee suggestions and criticisms to ensure that all employees are provided a positive work environment. Hovey strongly supports involvement in community work - both personally and by his staff. He is actively involved in Volunteers of America, serving on its board for the past seven years, three as board chair. He also serves on the board for the California Association of Public Retirement Systems.
 




Document Under Categories: News Articles, Press Release

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