Highlights

CELEBRATING LESLEY TORGESON'S 9 YEARS OF SERVICE

PRE-RETIREMENT PLANNING WORKSHOP RECORDING

Also in this edition...

2025 COLA Tracker
January 2025 Investment Results
February 26, 2025 Board of Retirement Meeting Draft Minutes
March 19, 2025 Board of Retirement Meeting Agenda Available
CareCounsel Information
RESBC Membership Information

CELEBRATING LESLEY TORGESON'S 9 YEARS OF SERVICE WITH SBCERS

After nine years of service, it is with bittersweet happiness to announce the retirement of Lesley Torgeson, who has been an integral part of the SBCERS Information Technology team for 9 years.

Lesley's unshakeable nature in the face of any challenge has left a lasting impression on our organization and the members we serve. Throughout her tenure, she has led several major projects including the implementation of PensionGold Version 3, creation of SBCER's independent information technology network, and greatly contributed to the build out of the Goleta SBCERS office building. Her contributions have far exceeded what is typical and expected, and she will be deeply missed.

As we wish Lesley all the best in the next chapter of her life, we invite you to join us in celebrating her career. Her retirement is not only a time to reflect on her many achievements but also to express our deepest gratitude for her hard work and friendship.

Congratulations, Lesley!

PRE-RETIREMENT PLANNING WORKSHOP RECORDING

In the first two weeks of March, SBCERS held three pre-retirement planning workshops to educate members on the retirement process and how to prepare for retirement. Click on the button below to watch the recorded virtual session. Topics include:

Retirement eligibility.
Best practices for retirement readiness.
Understanding the retirement process: all about payment options, insurance, required documentation, and more.
COLA: what to know about the annual retiree Cost of Living Adjustment.
MySBCERS online portal: how to run benefit estimates and stay in touch with SBCERS.

Click here to view the Pre-Retirement Planning Workshop

2025 COLA Tracker

For February 2025, Los Angeles Area Inflation (year over year) was 3.11%. The average monthly increase for 2025 to date is 3.22%.

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.

January 2025 Investment Results

For the month of January 2025, the Total Fund returned 1.37%. Since the beginning of the fiscal year on July 1, 2024, the Fund has returned 4.34% generating over $189 million for SBCERS retirees and beneficiaries.

February 2025 Investment Results are currently pending.

Read the preliminary January 2025 Investment Report.

February 26, 2025 Board of Retirement Meeting Draft Minutes

At the February 26, 2025 meeting, the Chair appointed Trustees Daly, Cholmondeley, Lavagnino, and Uhl to the Operations Committee. The Chair also appointed Trustees Blair, Bianchi, Dodgin, and Uhl to the Real Property Management Committee. The Board established an ad hoc committee to oversee the Private Equity and Private Real Return RFP and Chair Daly appointed Trustees Hagen, Lee, Vidal, and Dodgin to the committee. The Board received the quarterly performance report from general markets consultant RVK, Inc. and 2025 strategic plans for the private equity, private real return, and real estate portfolios from Hamilton Lane. The Board also adopted the 3% COLA rate and accumulated carry-over balance (“COLA bank”) increases as of April 1, 2025 and approved Resolution 2025-01 celebrating the service of Lesley Torgeson. Finally, the Board received a presentation on the Santa Barbara Superior Court's Other Post-Employment Benefits (OPEB) funding policy.

Draft minutes from the February 26, 2025 Board of Retirement meeting are available to view HERE.

March 19, 2025 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.