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In this Edition:
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RESBC Moving Forward by Rory Moore, RESBC Board Member
- Alameda Case Item Materials Available for March 24 Board of Retirement Meeting
- 2021 COLA Results
- February 2021 Investment Results
- February 24 & 25, 2021 Board of Retirement Meeting Highlights
- March 24, 2021 Board of Retirement Meeting Agenda Available
- CareCounsel Information
- RESBC Membership Information
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RESBC Moving Forward
- Rory Moore, RESBC Board Member
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Have you heard what’s going on at RESBC lately? What? You don’t know what RESBC is, and how it is different from SBCERS? Well, let me tell you …
RESBC (Retired Employees of Santa Barbara County) is an independent social group composed of your fellow retirees who have voluntarily joined up. In the landscape of Santa Barbara County retirement organizations, RESBC is the “fun” social group. There is food, drink, travel, raffles, prizes, and of course fellowship. Unfortunately, many of these have been curtailed during the past year of the COVID pandemic, but we are gearing up for the future and planning to continue and expand our activities once it is safe to do so.
We hold quarterly subsidized luncheon meetings with speakers on topics of interest to retirees. These have included members of the Board of Supervisors, investment advisors, travel consultants and senior healthcare speakers. RESBC has a seat at the table on the Health Oversight Committee which reviews proposals for health insurance for both active and retired employees.
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Our members have attended theater productions in Los Angeles, visited the Getty Museum, toured Lotusland and Hearst Castle. Then, of course, there is Dodger baseball and great seats in the shade for a game in August at Dodger Stadium. Through the RESBC travel club, members have been to Europe several times, and to destinations in the United States.
On a more serious note, RESBC monitors legal developments in pension and retirement programs for public sector employees. RESBC is a member of the California Retired County Employees Association (CRCEA) comprised of similar organizations from the 20 California counties whose retirement plans are organized under the 1937 act. As a unified group, CRCEA represents about 165,000 retirees and maintains an active presence with legislative bodies in Sacramento.
Recently, RESBC has elected to partner with the Scholarship Foundation of Santa Barbara to fund and provide two scholarships for the benefit of our membership and progeny. Our members are active in their communities serving on boards and committees helping to make Santa Barbara County a desirable and compassionate place to live.
You can join RESBC, receive our bright, glossy and informative newsletter, and participate in our activities by letting your SBCERS benefits representative know you want to join. It only costs $2.50 each month as a deduction from your SBCERS check. Questions? Contact our president Annette Paladino at annetteapaladino@gmail.com and visit the website: www.resbc.us.
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Alameda Case Item Materials Available for March 24 Board of Retirement Meeting |
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The meeting will be held virtually on Zoom. There are detailed instructions for public access and comment contained in the Meeting Agenda, which is available at the link above. The meeting will be livestreamed via YouTube. Click here to watch the meeting live.
SBCERS will continue to communicate and share information about upcoming meetings as that information becomes available.
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For February 2021, Los Angeles Area Inflation (year over year) was 0.97%.
Click HERE or on the chart 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 2021 Investment Results |
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The Total Fund returned 0.94% for the month of February, net of fees.
Since July 1, 2020, the portfolio has returned 15.39%, generating about $478 million for our beneficiaries.
Click HERE to read the full February 2021 Investment Flash Report.
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February 24 & 25, 2021 Board of Retirement Meeting Highlights |
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At the February 24th meeting, the Board of Retirement received quarterly investment reports and strategic plan presentations from private equity and private real return consultant Hamilton Lane and private real estate consultant ORG Portfolio Management. The Board also received a quarterly report from RVK, Inc. and approved the investment of $20 million to the First Eagle Direct Lending Fund V.
Draft minutes for the February 24, 2021 Board of Retirement meeting can be found HERE.
At the February 25th meeting, the Board of Retirement created the 2021 Operations Committee, approved a 1.5% COLA, and authorized the CEO to negotiate and execute a change order in writing for construction services for 130 Robin Hill Road.
Draft minutes for the February 25, 2021 Board of Retirement meeting can be found HERE.
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March 24, 2021 Board of Retirement Meeting Agenda Available |
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Members of the public who would like to make a public comment may email clerkoftheboard@sbcers.org for instructions on how to do so remotely.
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 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 Providers
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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, 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!
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Want to look at prior Newsletters?
Click HERE to visit the SBCERS Newsletter Archive.
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