June 2021

Volume 46





Also in this edition...

  • 2021 COLA Tracker
  • May 2021 Investment Results
  • May 26, 2021 Board of Retirement Meeting Highlights
  • June 23, 2021 Board of Retirement Meeting Agenda
  • CareCounsel Information
  • RESBC Membership Information
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Trustee Trent Benedetti was appointed to the Board of Retirement in January 2018 and brings over 35 years of experience as an accountant, tax advisor, and investment advisor. Trent was recently re-appointed to another 3-year term, ending in December 2023.

"Ever since I moved to Santa Maria in 1982 to raise a family and start an accounting and financial advisory business, I have been interested in serving the community.  After serving fifteen years on the Santa Maria City Planning Commission, I was appointed to the Santa Barbara County Assessment Appeals Board. During those ten years I applied to the SBCERS Board twice and was not selected. As an investment advisor I felt I could offer more in a field I was working in and had ongoing training.


I was humbled and grateful to have been selected on my third try to the Board. During my first term, I was very impressed with the knowledge of my fellow trustees. They are all dedicated to the training and learning opportunities available. 


I’ve come to realize the Board has probably the best training and sharing of knowledge of any government body I have witnessed or been a part of. The trustees thoughtfully apply their experience and knowledge after careful consideration of every case. I’ve come to appreciate the dedication and professionalism of the SBCERS staff and trustees. 


During my second term I plan to continue taking advantage of the tremendous training resources offered at our monthly meetings and outside resources, as I remain committed to fulfilling my fiduciary responsibility to all members and plan sponsors of the plan investments."


SBCERS Member Services Representatives are available for in-person "Pop Up" appointments in Santa Barbara, Santa Maria, and Lompoc. More dates are being added! All upcoming pop up dates are updated at www.sbcers.org/pop-up.

SBCERS asks that members please wear a mask and practice social distancing during their appointment. Masks will be available at each pop up location if needed.

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

Please note representatives will take separate appointments in the same room. We value the security and confidentiality of your information and encourage you to contact a representative separately to schedule a virtual meeting for sensitive or confidential matters.

Lompoc Pop Up Appointment Details

Date: Monday, June 28, 2021

Location: Auditorium in the Lompoc Veterans’ Memorial Building at 100 E. Locust Ave, Lompoc, 93436.

Click Here for Lompoc Appointments

Santa Barbara Pop Up Appointment Details

Date: Friday, July 2, 16, and 30, 2021

Location: Coastal Room in the Santa Barbara County Employees' University, 267 Camino Del Remedio, Santa Barbara 93110.

Click Here for Santa Barbara Appointments

Santa Maria Pop Up Appointment Details

Date: Friday, July 9, 2021

Location: Santa Maria Board of Supervisors Hearing Room in the Joseph Centeno Betteravia Government Administration Building, 511 Lakeside Pkwy, Santa Maria, 93455.

Click Here for Santa Maria Appointments
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2021 COLA Tracker

For May 2021, Los Angeles Area Inflation (year over year) was 3.89%. The average monthly increase for 2021 to date is 2.31%.

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.

May 2021 Investment Results

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The Total Fund returned 2.08% for the month of May, net of fees.

Since July 1, 2020, the portfolio has returned 24.25%, generating over $753 million for our beneficiaries.

Read the full May 2021 Investment Flash Report.

May 26, 2021 Board of Retirement Meeting Highlights

At the May 26 meeting, the Board of Retirement received quarterly reports on private equity, private real return, real estate, and public market investments. The Board also received a presentation on SBCERS' budget for the fiscal year ending June 30, 2022. Lastly, the Board approved staff and counsel to negotiate a contract renewal for general investment consultant RVK, Inc.

Read the draft May 26, 2021 Minutes.

June 23, 2021 Board of Retirement Meeting Agenda Available

The next Regular Board of Retirement meeting will be held remotely on June 23, 2021. You can watch the meetings 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 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.


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


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.