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In this Edition:
- SBCERS is Implementing Remote Counseling
- Social Security Administration to Provide Services Online and via Phone
- 2020 COLA Tracker
- February 2020 Investment Results
- February 26, 2020 Board of Retirement Meeting Highlights
- March 18, 2020 Board of Retirement Meeting Agenda
- CareCounsel Information
- RESBC Membership Information
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SBCERS is Implementing Remote Counseling
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SBCERS is implementing operating practices designed to encourage social distancing and reduce the risk of spreading coronavirus.
Starting March 16, 2020, SBCERS’ Member Services team will begin using remote communication tools to provide services and facilitate secure document submission. In addition to providing services remotely, we also ask that you first contact us via phone if you would like to visit an SBCERS office. Upon receiving your phone call, we will discuss various options for how to address your membership need with the goal of minimizing unnecessary trips to the SBCERS office. If you already have a meeting scheduled with an SBCERS representative, you will be contacted to confirm your appointment and arrange for an alternate form of communication.
If you have questions regarding our social distancing policy, or just want to discuss your retirement account, please call us at 1-877-568-2940 or email
benefits@sbcers.org
. We are ready to provide you with great service and deliver on the promised benefit.
Click
HERE
to read the letter from the CEO.
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Social Security Administration to Provide Services Online and via Phone
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All local Social Security offices will be closed to the public for in-person service starting Tuesday, March 17, 2020 and wil
l be conducting services online and via phone. If you need Social Security information or are getting read to sign up for benefits, please review the information given below:
"First, please use our secure and convenient online services available at
www.socialsecurity.gov/onlineservices
. You can apply for retirement, disability, and Medicare benefits online, check the status of an application or appeal, request a replacement Social Security card (in most areas), print a benefit verification letter, and much more – from anywhere and from any of your devices. We also have a wealth of information to answer most of your Social Security questions online, without having to speak with a Social Security representative in person or by phone. Please visit our online Frequently Asked Questions at
www.socialsecurity.gov/ask
.
If you cannot conduct your Social Security business online, please check our
online field office locator
for specific information about how to directly contact your local office. Your local office still will be able to provide critical services to help you apply for benefits, answer your questions, and provide other services over the phone."
Click
HERE
to read the full press release.
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For February 2020, Los Angeles Area Inflation (year over year) was 3.36%.
Click
HERE
or on the chart above to see 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. Click
HERE
to read the current Bureau of Labor Statistics report.
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February 2020 Investment Results
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The Total Fund returned -3.49% for the month of February net of fees. For the current fiscal year through February 29, 2020, the portfolio has returned 1.37%, generating approximately $45 million for our beneficiaries.
Click
HERE
to read the full February 2020 Investment Flash Report.
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February 26, 2020 Board of Retirement Meeting Highlights
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At the Board of
Retirement's February 26, 2020 meeting,
Vice Chair Hagen swore in 6th Appointed Member Steve Lavagnino and appointed the Operations Committee. T
he Board received
Quarterly Private Equity and Private Real Return reports from Hamilton Lane and
approved
Hamilton Lane Annual Strategic Plans, and received the Quarterly Public Markets Portfolio Review from RVK, Inc. The Board also voted to adopt the 3% Cost of Living Adjustment (COLA) as of April 1, 2020.
Draft minutes for the February 26, 2020 regular Board of Retirement meeting can be found
HERE
.
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March 18, 2020 Board of Retirement Meeting Agenda Available
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The next Regular Board of Retirement meeting is on March 18, 2020 in the Riviera Ballroom of the Canary Hotel.
Click
HERE
to access the Board M
aterials on our agenda management website.
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Want help with your Health Care Inquiries and 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 Provider
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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, 3916 State Street, Suite 100 Santa Barbara, CA 93105, 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!
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Want to look at prior Newsletters?
Click
HERE
to visit the SBCERS Newsletter Archive.
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