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Committee backs Richard Peterson Jr. to continue on Employee Retirement Board
Summary
The committee recommended approval of Richard Peterson Jr.'s reappointment to the San Francisco employee retirement board, noting his recent service and emphasis on fiduciary duties for about 52,000 participants; the paired rejection motion was tabled.
The Rules Committee voted to forward item 9 — the mayor’s reappointment of Richard (Rich) Peterson Jr. to the San Francisco Employee Retirement System board — to the full board with a positive recommendation and tabled the paired rejection motion.
Rich Peterson, who described himself as an interim trustee with 16 months on the retirement board, told supervisors he treats trusteeship as a fiduciary duty to roughly 52,000 current and former city employees and beneficiaries. He characterized retirement-board work as “nuts-and-bolts” fiduciary administration and said the board typically does not receive political phone calls and is focused on administering benefits.
Supervisor Campos moved to send item 9 to the full Board of Supervisors with a positive committee recommendation and to table item 10 (the rejection motion). The motion passed without objection.
What happens next: the full Board will consider Peterson's reappointment at its next calendar date.
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