SDCERS’ CEO Mark Hovey last week thanked six Trustees for their service on the Board of Administration at a special recognition ceremony during the Board's regularly scheduled monthly meeting.
“SDCERS has become a national model for municipal pension system reform and good governance. Much of that progress can be credited to the hard work and leadership of our Board,” stated CEO Mark Hovey. “It has been an honor to work with them and I am grateful for their service.”
The Board Trustees whose terms will expire on March 31, 2013 include Herb Morgan, Patrick Lane, Wayne Kennedy, Edward Kitrosser, Mark Oemchke and Steven Meyer. Herb Morgan and Edward Kitrosser are eligible for reappointment.
“We have become one of the best municipal agencies in the country. We’ve reduced our DROP interest rate to a reasonable formula, cleaned up the disability process, reduced our operating expenses by 25% and issued timely, award-winning Comprehensive Annual Financial Reports,” stated Board president Herb Morgan. “There is still work to be done, but I am proud of our accomplishments and proud of this organization.”
Learn more about the Board of Administration and its members here.