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Panel advances charter amendment that would shift retirement-board appointment powers amid divestment debate
Summary
Supervisor Peskin asked the committee to forward a charter amendment that would change the composition/appointing authority of the San Francisco Employees' Retirement System to allow the city attorney an appointment; the sponsor framed the change as a backstop related to an upcoming vote on fossil-fuel divestment.
Supervisor Peskin presented Item 5, a charter amendment proposing to reduce mayoral appointees to the retirement board from three to two and give the city attorney an appointing role (subject to Board approval and hearings), plus expanded investment-disclosure requirements. Peskin framed the amendment in the context of fossil-fuel divestment and said it could be used if the retirement board failed to move at its Jan. 24 meeting.
Public comment: a retired city worker told the committee he opposed the city attorney appointing a member because the city attorney was involved in litigation related to fossil-fuel purveyors and the retirement system's supplemental COLAs, raising a potential conflict; he suggested the city treasurer instead make the appointment. Peskin responded that the city attorney is not suing the retirement system and noted the city attorney's litigation targets were fossil-fuel companies, which Peskin argued aligns policy positions.
Supervisors asked detailed questions about how changing appointing authorities would affect investment direction and targeted investments (e.g., housing trust investment). Peskin said the change could alter the board dynamic (described a 4–3 split) and framed the amendment as a way to "shake things up" if the retirement board did not act on divestment. The committee moved the item to the full Board with a positive recommendation.
