Photo Credit: "Tulip Field" by Jennifer Pederson | |
SAVE THE DATE: 2ND ANNUAL OPEN HOUSE | BLUESHIELD HEALTH RESOURCE: ACCOLADE | 3% COLA ADOPTED BY THE BOARD OF RETIREMENT | | | |
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Also in this edition...
- 2024 COLA Tracker
- January 2024 Investments Results
- February 28, 2024 Board of Retirement Meeting Highlights
- March 20, 2024 Board of Retirement Meeting Agenda Available
- CareCounsel Information
- RESBC Membership Information
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SAVE THE DATE: 2ND ANNUAL OPEN HOUSE
SBCERS invites you to the Goleta office to learn more about your retirement benefits and the administration of SBCERS, and meet with other local organizations. All are welcome!
This year, the Open House will be benefitting the Foodbank of Santa Barbara County.
Friday, June 7, 2024
11:00 a.m. - 1:00 p.m.
SBCERS Goleta Office,
130 Robin Hill Road, Suite 100, Goleta, CA 93117
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BLUESHIELD HEALTH RESOURCE: ACCOLADE
Retirees with Blue Shield Health Insurance now have access to the free benefits resource called Accolade.
Accolade is an additional program, like Care Counsel, that help retirees understand their health insurance benefits. The three main services Accolade provides to retirees are:
- access to a health assistant and nurse for health questions,
- all-hours virtual support from online doctors and therapists, and
- additional access to medical professionals for second opinions on medical diagnoses.
Retirees can register their account at member.accolade.com. To access the second opinion benefit, retirees will also need to register at www.2nd.md/activate.
Retirees can also access this information through the web portal or mobile app. For questions about Accolade, please call them directly at 866-417-0167.
Utilize this benefit today and get the most out of your medical insurance!
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3% COLA ADOPTED BY THE BOARD OF RETIREMENT
Los Angeles Area Inflation averaged 3.49% over calendar year 2023. County Employees Retirement Law provides that inflation should be rounded to the nearest half percent, but limits COLA increases to 3.0% annually.
As a result, a 3.0% COLA was adopted by the Santa Barbara County Board of Retirement at its February 28, 2024 meeting. The approved COLA will take effect on May 1, 2024.
When the COLA is more than the plan permits, the excess amount is accumulated, or banked, for most retirees*. The excess amount of COLA can be applied in future years when the approved COLA level is below 3.0%. This year, 0.5% will be banked for most retirees*.
*All Safety Plan members, General Plan 5 members, and APCD Plan 1 & 2 members receive a 3% COLA with any remaining amount banked. General Plan 7 & 8 members and APCD Plan 8 members receive a 2% COLA with the remainder banked. General Plan 2 members do not receive a COLA.
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January 2024 Investment Results
February 2024 investment results are not yet available. For the month of January 2024, the Total Fund returned -0.24%. Since the beginning of the fiscal year on July 1, 2023, the Fund has returned 3.86% generating over $156 million for SBCERS retirees and beneficiaries.
Read the full January 2024 Investment Flash Report.
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March 20, 2024 Board of Retirement Meeting Agenda Available
The next Regular Board of Retirement meeting will be held in the SBCERS Board Room located at 130 Robin Hill Road, Goleta, CA 93117.
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.
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WANT HELP WITH YOUR HEALTH CARE INQUIRIES & CONCERNS? | |
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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
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RETIRED EMPLOYEES OF SANTA BARBARA COUNTY (RESBC) | |
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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.
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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.
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