MICHAEL T. DALY ELECTED TO THE BOARD OF RETIREMENT | OVER-THE-COUNTER COVID-19 TEST COVERAGE | BOOK A VIRTUAL SBCERS APPOINTMENT ONLINE | | | |
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Also in this edition...
- 1099-R Will Be Mailed by January 31, 2022
- 2021 COLA Results
- November & December 2021 Investments Results
- December 8, 2021 & January 5, 2022 Board of Retirement Meeting Highlights
- January 26, 2022 Board of Retirement Meeting Agenda
- CareCounsel Information
- RESBC Membership Information
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MICHAEL T. DALY ELECTED TO THE BOARD OF RETIREMENT | |
Votes for the Special Election for the Board of Retirement were tallied by MK Elections Services on January 10, 2022. Michael T. Daly, the candidate with the highest number of votes, was elected General Member.
On October 1, 2021, a General Trustee position on the Board of Retirement of the Santa Barbara County Employees’ Retirement System became vacant. In accordance with the Board of Retirement elections policy, a special election was held Wednesday, December 8, 2021 – Monday, January 10, 2022 to select a General Member to fill the vacancy of the 2nd Member of the Board of Retirement.
Please contact the clerkoftheboard@sbcers.org for questions or concerns.
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OVER-THE-COUNTER COVID-19 TEST COVERAGE | |
Per guidance issued by the Federal Government on January 10, 2022, PRISMHealth will provide coverage for diagnostic at-home COVID-19 tests for personal use that were purchased on or after January 15, 2022. Diagnostic tests are performed if covered individuals are experiencing COVID-19 symptoms or have been recently exposed.
To be reimbursed for at-home test purchased out-of-pocket, members can submit a Claim Form and proof of purchase receipt to their respective carrier. The proof of purchase/receipt should include the name of the retailer, the street address (or if purchased online the website address), date of purchase, UPC code, and cost. Participants will be reimbursed in full for the test and applicable sales tax; shipping and handling charges are not eligible.
Check with your health insurance carrier for plan-specific information and instructions:
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BOOK A VIRTUAL SBCERS APPOINTMENT ONLINE
Due to the recent increase in COVID-19 cases, all SBCERS counselling appointments will be held virtually, either over the phone or on Zoom. Members may schedule their own appointment online by clicking the button below. All upcoming dates are updated at www.sbcers.org/pop-up.
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Members may choose between 20-minute or 60-minute appointments.
Example 20-Minute Topics:
- Service purchase of medical leave or extra help time
- Divorce
- Tax withholding changes
- Health reimbursement claims
- Direct deposit changes
- Insurance questions
Example 60-Minute Topics:
- Pre-retirement or retirement counseling sessions
- Death benefit claims
- Continuance onboarding
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1099-R Will Be Mailed by January 31, 2022
SBCERS payees will receive a 3-copy version of their 1099-R in the first week of February. Instructions are included on the back of the page, similar to last year's format. Click HERE to view a sample 1099-R.
Members may also view their 1099-R online at MySBCERS. Login or enroll at https://mysbcers.org/.
If necessary, please contact an SBCERS Member Services Representative to make updates to your form. Payees have until March 31, 2022 to review before SBCERS submits to the IRS.
Phone: 1-877-568-2940
Email: benefits@sbcers.org
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2021 COLA Results
We estimate that the Los Angeles Area Inflation has averaged 3.83% over calendar year 2021.
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 is anticipated to be considered by the Santa Barbara County Board of Retirement at its February 23, 2022 meeting. The COLA will take effect on May 1, 2022.
When the change is more than 3.0%, the excess amount (1.0%) 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%.
*All Safety Plan members, General Plan 5 members, and APCD Plan 1 & 2 members receive a 3% COLA with 1% banked. General Plan 7 & 8 members and APCD Plan 8 members receive a 2% COLA with 2% banked. General Plan 2 members do not receive a COLA.
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.
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November & December 2021 Investment Results
The Total Fund returned -0.61% for the month of November 2021. In December 2021, the Total Fund returned 2.35%.
Since July 1, 2021, the portfolio has returned 6.26%, generating over $241 million for our beneficiaries.
Read the full December 2021 Investment Flash Report.
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January 26, 2022 Board of Retirement Meeting Agenda Available
The next Regular Board of Retirement meeting will be held virtually on January 26, 2022. You can watch the meeting via YouTube live stream at https://www.sbcers.org/board-of-retirement/watch-live/.
Members of the public who would like to make a public comment may do so via Zoom. Please email clerkoftheboard@sbcers.org for instructions.
Click HERE to access the 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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