Highlights

SBCERS OPEN HOUSE: FRIDAY, JUNE 9 | 11:00 A.M. - 2:00 P.M.

Also in this edition...

2023 COLA Tracker
April 2023 Investment Results
April 26, 2023 Board of Retirement Meeting Highlights
May 24, 2023 Board of Retirement Meeting Agenda Available
CareCounsel Information
RESBC Membership Information

JOIN US AT OUR OPEN HOUSE

SBCERS Summer Classic

Open House

Friday, June 9, 2023

11:00 a.m. - 2:00 p.m.

SBCERS Goleta Office,

130 Robin Hill Road, Suite 100, Goleta, CA 93117

SBCERS invites you to the new Goleta office to learn more about your retirement benefits and the administration of SBCERS, meet with other local organizations such as Retired Employees of Santa Barbara County (RESBC), United Way, Alzheimer's Association, Firefighters Benevolent Fund, Empower Retirement, and more. Lunch will be provided for the first 100 attendees. All are welcome.

Therapy Dogs of Santa Barbara will be available from 11:30 a.m. - 1:00 p.m.

In a matter of minutes, petting a dog decreases cortisol levels and increases oxytocin. That translates to less stress and anxiety and improved mood. Stop by for doggy therapy at the SBCERS Open House.

Do you own a classic or unique car? Bring it by for the event!

RSVP at www.sbcers.org/openhouse.

2023 COLA Tracker

For April 2023, Los Angeles Area Inflation (year over year) was 3.82%. The average monthly increase for 2023 to date is 4.59%.

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.

April 2023 Investment Results

The Total Fund returned 0.67% for the month of April 2023. Since the beginning of the fiscal year on July 1, 2022, the Fund has returned 5.46% generating over $209 million for SBCERS retirees and beneficiaries.

Read the full April 2023 Investment Flash Report.

April 26, 2023 Board of Retirement Meeting Highlights

At the April 26, 2023 Board of Retirement meeting, the Board approved revisions to the Chief Executive Officer Charter, Board of Retirement Charter, Chair of the Board Charter, Vice Chair of the Board Charter, Secretary of the Board Charter, Operations Committee Charter, Real Property Management Committee Charter, and Securities Litigation Policy. The Board also received a public markets update, asset allocation study, and private credit pacing report from RVK, Inc. The Board also approved the SBCERS CEO to negotiate and execute agreements with Angelo Gordon for SBCERS' participation in Angelo Gordon’s DRiP (Dividend Reinvestment Program) to transfer distributions from Angelo Gordon funds III and IV to the Angelo Gordon Evergreen fund. Lastly, the Board received education from Angelo Gordon, Acadian Asset Management, and Garcia Hamilton.

Click here to read the draft April 26, 2023 Minutes.

May 24, 2023 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.

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.