September 2022

Volume 61

Photo Credit: "At Day's End" by Mike Goldman

Highlights

OPEN ENROLLMENT FOR 2023: OCTOBER 1 - 31

SAFETY ELECTION FOR THE BOARD OF RETIREMENT

GENERAL SPECIAL ELECTION FOR THE BOARD OF RETIREMENT

Also in this edition...


  • 2022 COLA Results
  • August 2022 Investments Results
  • August 24, 2022 Board of Retirement Meeting Highlights
  • September 28, 2022 Board of Retirement Meeting Agenda Available
  • CareCounsel Information
  • RESBC Membership Information

OPEN ENROLLMENT FOR 2023: OCTOBER 1 - 31

SBCERS Retirees and their beneficiaries will receive Health Care Open Enrollment books in the first week of October.


The County will continue the same insurance plans with the same benefits, including Domestic Medical Travel Benefits. Blue Shield, Kaiser, United Health Care, Vision, and Dental Plan Rates are increasing this year. Plan rates will be available to view on September 30 online at: www.sbcers.org/open-enrollment-2023.

If you have recently changed your mailing address, please take a moment to email benefits@sbcers.org and let us know your correct address information.


This year, members can attend our in-person Open Enrollment Retiree Health Fair:


Friday, October 21st 10:00 AM – 12:00 PM

Santa Barbara County Board of Supervisors Hearing Room

County Administration Building

105 E Anapamu Street, Fourth Floor

Santa Barbara, CA 93101


Can't make it? No worries! SBCERS is still offering a Virtual Health Fair that will be available on our website in October.

SAFETY ELECTION FOR THE BOARD OF RETIREMENT


Active Safety Members - vote now!


The election for Safety Member and Alternate Safety Member of the Board of Retirement takes place from September 14, 2022 to October 12, 2022. This year, SBCERS is offering the option to vote electronically.


All eligible voting members still have the option to vote via paper ballot. Eligible voters (active REG Safety employees) were mailed a voting packet in the mail containing voting instructions and paper ballot. If you vote using the online ballot DO NOT return the paper ballot.


Ballots are due by 11:59 Pacific on October 12, 2022.


If you did not receive your voting package or need a replacement, please contact Dani Couture, Clerk of the Board of Retirement, by emailing dcouture@sbcers.org or calling 805-770-1135.

GENERAL SPECIAL ELECTION FOR THE BOARD OF RETIREMENT


No candidate submitted an application to fill the vacant General 3rd Member seat of the Board of Retirement. In accordance with the Trustee Election Policy, the Special Election will be re-noticed on October 3, 2022, pending Board of Retirement approval.


Visit www.sbcers.org/board-elections for all updates.


For questions regarding the Board Election, please contact Dani Couture, Clerk of the Board of Retirement, by emailing dcouture@sbcers.org or calling 805-770-1135.

2022 COLA Results


For August 2022, Los Angeles Area Inflation (year over year) was 7.65%. The average monthly increase for 2022 to date is 7.91%.


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.

August 2022 Investment Results


The Total Fund returned -1.49% for the month of August 2022. Since the beginning of the fiscal year on July 1, 2022, the Fund has returned 1.11%, generating over $42 million for our beneficiaries.


Read the full August 2022 Investment Flash Report.

August 24, 2022 Board of Retirement Meeting Highlights


At the August 24, 2022 Board of Retirement meeting, the Board received education on Environmental, Social and Governance Investing (ESG), and quarterly Public Markets, Private Equity, Private Real Return, and Private Real Estate reports. The Board approved the restructuring of the Non-Core Fixed Income portion of the portfolio to increase SBCERS’ target to Private Credit from 33.3% of the Non-Core Fixed Income portfolio to 45.0% achieved by reducing the targets to Emerging Markets Debt and Bank Loans. The Board also approved the investment of $20 million to Ares Pathfinder Core Fund and authorized the CEO to negotiate and execute an agreement in writing with Ares.


Read the draft August 24, 2022 Minutes.

September 28, 2022 Board of Retirement Meeting Agenda Available


The next Regular Board of Retirement meeting will be held at the Henley Boardroom in the Mosher Alumni House, UCSB, Santa Barbara, CA 93106.


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.