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June 2024

Volume 82

Photos from the 2nd Annual Open House

Highlights

CRISTAL RODRIGUEZ APPOINTED TO GENERAL COUNSEL

2024 PHOTO COMPETITION IS OPEN - SUBMIT YOUR PHOTOS BY MONDAY, SEPTEMBER 2

THANKS FOR COMING TO THE OPEN HOUSE!

Also in this edition...


  • 2024 COLA Tracker
  • May 2024 Investments Results
  • May 22, 2024 Board of Retirement Meeting Highlights
  • June 26, 2024 Board of Retirement Meeting Agenda Available
  • CareCounsel Information
  • RESBC Membership Information

CRISTAL RODRIGUEZ APPOINTED TO SBCERS GENERAL COUNSEL

SBCERS is proud to announce the appointment of Cristal Rodriguez as its new General Counsel, effective July 1, 2024. In this role, Counsel Rodriguez will oversee all legal aspects of the System's operations, providing strategic guidance and ensuring compliance with state retirement law.


Counsel Rodriguez brings a wealth of experience to SBCERS, with a distinguished career spanning over 20 years at the County of Santa Barbara. Most recently, she served as Deputy General Counsel at SBCERS.


"This is the result of many years of hard work that started with her going to law school several years back," said CEO Greg Levin. "It has been a lot of fun to watch her grow from Disability Retirement Manager to being an integral part of the SBCERS leadership cabinet, taking on complex, high-profile projects along the way.”


Cristal earned her Juris Doctorate from the Colleges of Law in Santa Barbara, CA and is a member of the California State Bar. Cristal also serves on the Board of the Legal Aid Foundation and volunteers for various community non-profits, including Court-Appointed Special Advocates of Santa Barbara and County Animal Services.


Of the appointment, Cristal said "As a child, I had always been fascinated with all things legal – even coming home to watch The People’s Court as a third grader after school – but never had the confidence, belief in myself, or support to even considering going to law school right out of college. I viewed that as something for other people from different backgrounds, different upbringings, who were smarter and had more money than my family. On my first day at SBCERS, I was handed two 4-inch binders full of medical evidence and directed to prepare and observe a hearing the next day. The thought of going to law school never crossed my mind that day, much less that I would one day be appointed to General Counsel. That journey is a reflection of the support and growth mentality that SBCERS cultivates, for which I am grateful.


May we all continue to learn, to cultivate our goals, to motivate and support each other, and to get at least 1% better every day."


Big congratulations to Cristal!

2024 PHOTO COMPETITION IS OPEN - SUBMIT YOUR PHOTOS BY MONDAY, SEPTEMBER 2

SBCERS invites you to participate in the 3rd Annual Photo Competition! Winning entries will be printed and hung throughout the SBCERS Lobby and meeting spaces.

 

We hope our gallery reflects the varied perspectives and passions of our membership, be it the natural beauty you discover on a walk through your neighborhood, the thrilling sites and scenes you discover in your travels, and everything in between! 

 

Suggested themes include, but are not limited to:

  • Architecture
  • Landscape
  • Events
  • Abstracts
  • Black and White
Click Here to Submit Photos

Important dates and details:

  • Multiple submissions are allowed.
  • JPEG and PNG files only. File size limit is 16 MB.
  • Monday September 2, 2024: Deadline for submissions.
  • Monday, September 9, 2024: Winning entries announced via email notice to each winning entrant, and announced to www.sbcers.org.
  • October 2024: Winning entries will be printed to wrapped canvas (sizes may vary from 16” x 20” to 18” x 24”) and hung within the SBCERS gallery at Robin Hill Road. Photos will be unveiled at the SBCERS Open Enrollment Fair.

THANK YOU FOR COMING TO THE OPEN HOUSE!

Thank you for attending the SBCERS 2nd Annual Open House!


Our members donated over 450 lbs to the Food Bank of Santa Barbara County!

2024 COLA Tracker


For May 2024, Los Angeles Area Inflation (year over year) was 3.88%.The average monthly increase for 2024 to date is 3.54%.


View monthly inflation figures compared to last year.



Want to track the COLA on your own? On the 15th of each month, the U.S. Department of Labor, Bureau of Labor statistics releases CPI data for Los Angeles.


Read the current Bureau of Labor Statistics report.

May 2024 Investment Results


For the month of May 2024, the Total Fund returned 2.47%. Since the beginning of the fiscal year on July 1, 2023, the Fund has returned 7.88% generating over $319 million for SBCERS retirees and beneficiaries.


Read the preliminary May 2024 Investment Report.

May 22, 2024 Board of Retirement Meeting Highlights


At the May 22, 2024 Board of Retirement meeting, the Board voted to appoint Cristal Rodriguez to General Counsel, authorized the CEO to negotiate and execute a written agreement with Bank of New York Mellon for Custodial Banking Services, and approved the restructuring of the Real Return portion of the SBCERS investment portfolio to increase Private Real Return from 60% to 75%, while decreasing Public Real Return from 40% to 25%. The Board also received quarterly reports on Public Markets, Private Equity, Private Real Return, and Private Real Estate portfolios.


Read the draft May 22, 2024 Minutes.

June 26, 2024 Board of Retirement Meeting Agenda Available


The next Regular Board of Retirement meeting will be held in the Board Room at Allan Hancock Community College, Building B-100, 800 South College Dr, Santa Maria, CA 93454.


Members of the public who would like to make a public comment may do so via Zoom or in-person at the meeting location. Please email clerkoftheboard@sbcers.org for instructions. The Board of Retirement meeting will also be livestreamed via YouTube at https://www.sbcers.org/board-of-retirement/watch-live/.


Click HERE to access agendas and board materials on our agenda management website.


WANT HELP WITH YOUR HEALTH CARE INQUIRIES & CONCERNS?

Looking for a stress-free solution to your healthcare inquiries and, or concerns? CareCounsel is our health advocacy partner and is a service offered as part of your benefit package. CareCounsel works independently from your insurance carrier and is a completely confidential resource. 


It’s easy, call: (888-227-3334), or email staff@carecounsel.com Monday through Friday 6:30 am to 5:00 pm PST. After hours, you can leave a message and they will get back to you the next business day.


A few examples of why you should contact CareCounsel:

  • Education
  • Making Sense of Medicare
  • Benefits and Coverage Questions
  • Claims and Billing Assistance
  • Eligibility Status
  • Quality Concerns
  • Grievances and Appeals
  • Assistance with Locating Healthcare Providers

RETIRED EMPLOYEES OF SANTA BARBARA COUNTY (RESBC)

RESBC is a non-profit organization dedicated to improving the lives of county retirees by providing information on critical retirement issues and offering educational/cultural social opportunities. Membership in RESBC is $2.50 monthly. Dues are deducted from the member’s Santa Barbara County pension payment. County employees may join RESBC by completing the RESBC Membership Deduction Authorization form at the time of their retirement exit conference.


Retirees may join at any time by requesting a membership form from SBCERS, 130 Robin Hill Road, Suite 100, Goleta, CA 93117, 1-877-568-2940 or, by clicking HERE and sending the completed form to benefits@sbcers.org. 


RESBC Membership benefits include:

  • 4 issues of the RESBC newsletter per year.
  • 4 subsidized luncheon meetings per year held at various county locations.
  • Opportunities to participate in subsidized day trips and special events.
  • Attendance at special presentations on critical issues such as health insurance, pension litigation, pension-related court decisions, etc.
  • Opportunity to socialize and have fun with former co-workers and friends.

Have a question about an item in this newsletter?

Call a Benefit Representative at 1-877-568-2940. We are ready to help you!


Want to look at prior newsletters?

Click HERE to visit the SBCERS Newsletter Archive.