To: Board of Supervisors
From: Internal Operations Committee
Report Title: RECOMMENDATION FOR APPOINTMENTS TO THE CONTRA COSTA COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION BOARD OF TRUSTEES
☐Recommendation of the County Administrator ☒ Recommendation of Board Committee
RECOMMENDATIONS:
REAPPOINT Jerry Holcombe to the Board Appointee #5 seat, APPOINT Eswar Menon to the Board Appointee #9 seat, and APPOINT Mario DiPrisco to the Board Alternate seat on the Contra Costa County Employees’ Retirement Association Board of Retirement to new terms beginning July 1, 2026 and ending June 30, 2029, as recommended by the Internal Operations Committee
FISCAL IMPACT:
None to County. Retirement Board Trustees receive a stipend of $100 per meeting, plus mileage reimbursement, paid by CCCERA.
BACKGROUND:
The Contra Costa County Employees' Retirement Association (CCCERA) is administered by the Board of Retirement, an independent public entity responsible for general management of the association. With assistance from qualified professionals in the pension industry, the Board adopts regulations, policies, and procedures that are relevant to CCCERA, for the purpose of benefiting the members. CCCERA is also governed by the California Constitution and the regulations, procedures, and policies adopted by CCCERA’s Board. The Contra Costa County Board of Supervisors may also adopt resolutions which affect member benefits, as permitted by the County Employees’ Retirement Law of 1937.
The current term for three Board of Supervisors Appointee seats will expire on June 30, 2026. Staff initiated a recruitment by issuing a press release on April 13, 2026, through May 8, 2026 for Board of Supervisors Appointee #5, Appointee #9, and Appointee Alternate to #4, 5, 6, and 9.
To be eligible to serve on the CCCERA Board of Trustees as County appointees, applicants must be County residents, must not be Retirement System members or retirees, and may not market any investment, consulting, or related service to the Contra Costa County Retirement Board or any other 1937 Act Retirement Board. To be competitive, applicants should possess a sound business background, experience in pension fund investment or administration, or in equity investments or banking.
The April recruitment garnered five eligible applicants, all of whom were invited to interview with the Internal Operations Committee on May 26th:
• Stephen Biggs (Clayton)
• Mario DiPrisco (Lafayette)
• Larry Fernandes (Walnut Creek)
• Jerry Holcombe (incumbent, Walnut Creek)
• Eswar Menon (Walnut Creek)
The IOC interviewed all eligible applicants on May 26th except for Stephen Biggs, who withdrew his application for consideration at this time. As a result of the interviews, the IOC recommends the reappointment of Jerry Holcombe to seat #5, the appointment of Eswar Menon to seat #9, and Mario DiPrisco to the Alternate seat to new three-year terms that will expire on June 30, 2029. The IOC was very appreciative of all of applicants, who are highly qualified, and encouraged them to seek out future opportunities with the County’s advisory bodies.
CONSEQUENCE OF NEGATIVE ACTION:
The County would not have full County representation on the Board of Trustees.