October 2024

Volume 86

Photo Credit: "Granite Water Slides" by Anonymous.

Highlights

CELEBRATING CINDY MENEGON'S 19 YEARS OF SERVICE

VIRTUAL HEALTH FAIR FOR RETIREES & OPEN ENROLLMENT REMINDERS

UPCOMING OFFICE CLOSURES

Also in this edition...


  • 2024 COLA Tracker
  • September 2024 Investment Results
  • September 25, 2024 Board of Retirement Meeting Draft Minutes
  • October 23, 2024 Board of Retirement Meeting Agenda Available
  • CareCounsel Information
  • RESBC Membership Information

CELEBRATING CINDY MENEGON'S 19 YEARS OF SERVICE AT SBCERS

After nearly two decades of service, it is with bittersweet happiness to announce the retirement of Cindy Menegon, who has been an integral part of the SBCERS Member Services team for almost 19 years.


Cindy’s unwavering support, dedication, and kindness has left a lasting mark on our organization and the members we serve. Throughout her tenure, she has consistently gone above and beyond to support her colleagues and ensure the success of SBCERS' mission. Her contributions have been invaluable and she will be deeply missed.


As we wish Cindy all the best in this 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, Cindy!

VIRTUAL HEALTH FAIR FOR RETIREES & OPEN ENROLLMENT REMINDERS

You can watch engaging videos from a variety of health and wellness vendors from the comfort of your laptop or smartphone. Some of the topics covered include diving into your benefits, well-being, fun activities the whole family can enjoy, and more!


At the end of each video, you will be prompted to enter into the raffle for prizes. Watch at least 10 videos and be eligible for our raffle to win a variety of amazing health & wellness prizes.


Please use the button below to start watching!

Password: SBCERS

Click here to open the Virtual Health Expo

Open Enrollment Reminders


  • All change forms must be received by SBCERS by Friday, November 1. Forms and Open Enrollment books are available to view online at www.sbcers.org/openenrollment.
  • If you are not making changes, you do not have to complete or submit any forms. SBCERS will automatically continue your current coverage into 2025 at the new rates.
  • Please ignore any emails from BenXcel with the subject line "ACTION NEEDED: Incomplete 2025 COSB Benefit Elections." This email was erroneously sent by the vendor. Retirees do not need to take any action within BenXcel.


Questions? Email info@sbcers.org or call 1-877-568-2940.

UPCOMING OFFICE CLOSURES

SBCERS offices will be closed on the following days:

  • Thursday, November 7th for staff training.
  • Monday, November 11th for Veterans Day.
  • Thursday, November 28th and Friday, November 29th for Thanksgiving.

2024 COLA Tracker


For September 2024, Los Angeles Area Inflation (year over year) was 2.81%.The average monthly increase for 2024 to date is 3.33%.


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 2024 Investment Results


For the month of September 2024, the Total Fund returned 1.12%. Since the beginning of the fiscal year on July 1, 2024, the Fund has returned 4.17% generating over $182 million for SBCERS retirees and beneficiaries.


Read the preliminary September 2024 Investment Report.

September 25, 2024 Board of Retirement Meeting Draft Minutes


At the September 25, 2024 meeting, the Board reviewed earnings codes SPB (Special Duty Pay), IPD (DITA and POST Incentive Pay), TRI (Trilingual Pay), SDP (Special Duty Presidential Election 15%), SDS (Special Duty State and County Elections 10%), and SDL (Special Duty Local District Elections 5%) for the County of Santa Barbara. The Board also voted to authorize the SBCERS CEO to negotiate and execute a written agreement with Victory Park Capital for a $25 million investment into the VPC Asset Backed Opportunistic Credit Fund II, and received presentations on the monthly investment update, consultant oversight review, and an economic update.


Draft minutes from the September 25, 2024 Board of Retirement meeting are available to view HERE.

October 23, 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.