May 2021

Volume 45

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Highlights

TRUSTEE SPOTLIGHT: APPOINTED MEMBER MICHAEL VIDAL

POP UP OFFICE APPOINTMENTS - NEW DATES ADDED!

Also in this edition...


  • 2021 COLA Tracker
  • April 2021 Investment Results
  • April 28, 2021 Board of Retirement Meeting Highlights
  • May 26, 2021 Board of Retirement Meeting Agenda
  • CareCounsel Information
  • RESBC Membership Information
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TRUSTEE SPOTLIGHT: APPOINTED MEMBER MICHAEL VIDAL


Michael Vidal has over a decade of experience in the financial and banking industry. Michael is passionate about and dedicated to our community and has been involved with Rotary, YStrive, and is also a Board Member for the Legal Aid Foundation of Santa Barbara County. He is a graduate of the University of California, Santa Barbara, with a double degree in Business Economics and Sociology.



Why did you want to join the Board of Retirement?

Public service has always been important to me and I have worked in the financial services industry for over 17 years, so becoming an appointed Trustee for SBCERS seemed like a natural fit. I learned about the open seat from one of my peer Board members from Legal Aid Foundation, Lynn Goebel. 


What have you learned since joining the Board?

I have had my stock brokers license for over 13 years, so I’m very knowledgeable with the public markets. Being exposed to SBCERS, I have learned much more about the Private Markets (both equity and debt).


What do you want SBCERS membership to know more about?

I want our membership to know how serious we take our roles in SBCERS, from the staff to my peer Trustees. We understand the immense responsibility we have to the system and it’s beneficiaries. It’s reinforced every time we meet. 

POP UP OFFICE APPOINTMENTS - NEW DATES ADDED!


SBCERS Member Services Representatives are available for in-person "Pop Up" appointments on May 27 & June 11 in Santa Barbara, June 4 in Santa Maria, and June 7 in Lompoc.



Members may choose between 20-minute or 60-minute appointments.


Some examples of 20-minute appointment topics for active members include discussing service purchase of medical leave or extra help time, or divorce. For retired members, a 20-minute appointment may be useful to help with tax withholding changes, Health Reimbursement Claims, direct deposit changes, or insurance questions.


60-minute appointments for active members include pre-retirement or retirement counseling sessions. Retired members should book a 60-minute appointment for topics such as death benefit claims or 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 to discuss sensitive or confidential matters.


Click one of the buttons below to schedule an appointment.

Santa Barbara Pop Up Appointment Details

Date: Thursday, May 27, 2021 (Only a few slots left!) & Friday, June 11, 2021

Location: HR Cachuma Room (Basement Conference Room) in the County Administration Building, 105 E. Anapamu St, Santa Barbara, 93101.

Click Here for Santa Barbara Appointments on May 27 & June 11

Santa Maria Pop Up Appointment Details

Date: Friday, June 4, 2021 (Only a few slots left!)

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 on June 4

Lompoc Pop Up Appointment Details

Date: Monday, June 7, 2021

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

Click Here for Lompoc Appointments on June 7
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2021 COLA Tracker


For April 2021, Los Angeles Area Inflation (year over year) was 3.61%. The average monthly increase for 2021 to date is 1.91%.


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 2021 Investment Results

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The Total Fund returned 2.77% for the month of April, net of fees.


Since July 1, 2020, the portfolio has returned 21.39%, generating over $664 million for our beneficiaries.


Read the full April 2021 Investment Flash Report.

April 28, 2021 Board of Retirement Meeting Highlights


At the April 28th meeting, the Board of Retirement adopted Local Agency Formation Commission (LAFCO) pay codes as included or excluded as pensionable compensation, approved the revised Trustee Education Policy and Trustee Travel Policy, and approved the Investment Consultant Oversight Policy with no revisions. The Board also received a monthly investment report from RVK, Inc.


Read the draft April 28, 2021 Minutes.

May 26, 2021 Board of Retirement Meeting Agenda Available


The next Regular Board of Retirement meeting will be held remotely on May 26, 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.

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.