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October 2023

Volume 74

Photos from SBCERS Retiree Open Enrollment

Highlights

RETIREE OPEN ENROLLMENT: CHANGE FORMS DUE BY NOV 1

BOARD OF RETIREMENT ELECTION RESULTS

UPCOMING OFFICE CLOSURES

Also in this edition...


  • 2023 COLA Tracker
  • September 2023 Investment Results
  • September 27, 2023 Board of Retirement Meeting Highlights
  • October 25, 2023 Board of Retirement Meeting Agenda Available
  • CareCounsel Information
  • RESBC Membership Information

RETIREE OPEN ENROLLMENT: CHANGE FORMS DUE BY NOV 1

Open Enrollment is October 1 - 31, 2023. If you would like to make changes to your health insurance, please submit forms by November 1.


The County will continue the same insurance plans with the same benefits, including Domestic Medical Travel Benefits. Blue Shield, Kaiser, United Health Care, Vision, and Dental Plan Rates are increasing this year. Plan rates are available to view online at: www.sbcers.org/openenrollment2024.

The Virtual Health Fair is available for viewing 24/7 online. All Open Enrollment resources and videos will be available for viewing throughout the year. Access the Virtual Health Fair online at: www.sbcers.org/openenrollment2024.

BOARD OF RETIREMENT ELECTION RESULTS

On Wednesday, October 11, 2023, Incumbent Laurie Lee was declared the winner of the General Third Member of the Board of Retirement.


Incumbent Retired Trustee Zandra Cholmondeley and Incumbent Alternate Retired Trustee Gary Blair were the only candidates to file in their respective elections; therefore, no election for either seat will be held and Trustees Cholmondeley and Blair will be declared the winners.


Trustees Lee, Cholmondeley, and Blair will serve three-year terms ending December 31, 2026.

UPCOMING OFFICE CLOSURES

SBCERS offices will be closed to observe Veterans Day on Friday, November 10.


SBCERS offices will also be closed for Thanksgiving on Thursday, November 23 and Friday, November 24.

2023 COLA Tracker


For September 2023, Los Angeles Area Inflation (year over year) was 3.16%. The average monthly increase for 2023 to date is 3.70%.


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.

September 2023 Investment Results


The Total Fund returned -1.99% for the month of September, net of fees. Since July 1, 2023, the Fund returned -1.21%.


Read the September 2023 Investment Flash Report.

September 27, 2023 Board of Retirement Meeting Highlights


At the September 27, 2023 Board of Retirement meeting, the Board received presentations voted to approve the investment of $25 million to Marathon Dislocation Credit Fund II and authorize the CEO to negotiate and execute a written agreement with Marathon. The Board heard a presentation on public markets update and reviewed investment consultant oversight and held an educational panel on Chinese equities.

 

Click here to read the draft September 27, 2023 Minutes.

October 25, 2023 Board of Retirement Meeting Agenda Available


The next Regular Board of Retirement meeting will be held in the SBCERS Board Room 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.