Highlights

UPCOMING FAMILY FRIENDLY OFFICE CLOSURE

Also in this edition...

2024 COLA Tracker
October 2024 Investment Results
October 23, 2024 Board of Retirement Meeting Draft Minutes
December 11, 2024 Board of Retirement Meeting Agenda Available
CareCounsel Information
RESBC Membership Information

UPCOMING FAMILY FRIENDLY OFFICE CLOSURE

The Santa Maria office will be closed on Wednesday, December 11, 2024.

Both offices will close on Tuesday, December 24 at 12:00 p.m. and re-open on Thursday, January 2 at 8:00 a.m. To contact us during this time, please leave a voice message a 1-877-568-2940 or email info@sbcers.org. Locked drop boxes are available at both locations for members who need to submit documentation.

2024 COLA Tracker

For October 2024, Los Angeles Area Inflation (year over year) was 2.99%.The average monthly increase for 2024 to date is 3.30%.

The November 2024 Consumer Price Index for is scheduled to be released on December 11, 2024.

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.

October 2024 Investment Results

For the month of October 2024, the Total Fund returned -1.52%. Since the beginning of the fiscal year on July 1, 2024, the Fund has returned 2.65% generating over $115 million for SBCERS retirees and beneficiaries.

Read the preliminary October 2024 Investment Report.

October 23, 2024 Board of Retirement Meeting Draft Minutes

At the October 23, 2024 meeting, the Board received the preliminary results of the June 30, 2024 Actuarial Valuation by Cheiron, discussed a presentation by SBCERS CEO Greg Levin on the System's current trends and projections, received a monthly investment performance analysis by RVK, Inc., and authorized SBCERS investment staff to issue an Invitation-to-Bid for Futures Overlay Strategy Managers.

Draft minutes from the October 23, 2024 Board of Retirement meeting are available to view HERE.

December 11, 2024 Board of Retirement Meeting Agenda Available

The next Regular Board of Retirement meeting will be held in the Board Room at SBCERS Goleta Office, 130 Robin Hill Road, Suite 100, 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.