The San Francisco City & County Employees' Retirement System adopted a 4.48% employer contribution rate, which will result in the first contributions made to the $11.7 billion system since late 1996. A total of $95 million will be contributed to the fund in the year starting July 1, said Clare Murphy, executive director. Separately, the board altered the target weightings for its international equity portfolios, boosting its EAFE conservative/value allocation to 25% from 20% while reducing its EAFE aggressive/growth portfolio to 15% from 20%. No changes were made to the fund's mandates, Ms. Murphy said. The system is also expected to begin a search this week for a manager of emerging managers, running up to $200 million, or 5% of the plan's U.S. equity portfolio. A selection is expected at the July 13 board meeting.