Volume 25 | July 29, 2019

CELEBRATING 75 YEARS 1944-2019

July 2019 Newsletter

If you do not want to receive this newsletter, you can unsubscribe by clicking on the link at the bottom of this email. In this Edition: Health Plan Changes Coming Soon Preliminary Investment Returns for the Fiscal Year Ending June 30, 2019 2019 COLA Tracker June 26, 2019 Board of Retirement Meeting Highlights July 31, 2019 Board of Retirement Meeting Agenda Board of Retirement Elections: General, Safety, & Safety Alternate CareCounsel Information RESBC Membership Information

Health Plan Changes Coming Soon

We plan to send you announcements regarding Health Care Open Enrollment, a new payroll calendar and other information about SBCERS very soon! If you have recently changed your mailing address, please take a moment to email us at benefits@sbcers.org  and let us know your correct address information.

Preliminary Investment Returns for the Fiscal Year Ending June 30, 2019

On July 25, 2019, SBCERS reported that the fund returned an estimated 8.10% on a gross basis. This resulted in a net of fees return of 7.74% for the fiscal year ending June 30, 2019. SBCERS Invested Assets at the end of the fiscal year stood at $3.17 billion, an increase of more than $202 million above the prior fiscal year end asset value.   Over the past three, five and ten year periods SBCERS has generated 8.68%, 5.49% and 8.76%, respectively. SBCERS has averaged an 8.25% return since January 1987. Generating returns above the discount rate will improve SBCERS’ funding ratio.

Click HERE to read the Full June 2019 Investment Flash Report. To view a PDF of the press release, click HERE .

2019 COLA Tracker For June 2019, Los Angeles Area Inflation (year over year) was 3.34%. The average monthly increase for 2019 to date is 3.03%. Click HERE   or on the chart to see 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. Click   HERE   to read the current Bureau of Labor Statistics report.

June 26, 2019 Board of Retirement Meeting Highlights At the Board of Retirement's June 26, 2019 meeting, the Board approved and adopted earning codes for Carpinteria Summerland Fire Protection District and Santa Barbara County Superior Court, and approved the new County position of Fire Control Worker, Senior. The Board also received a market update, private credit education, and accepted the general investment consultant's strategic plan for the fiscal year ending June 30, 2020. The Board of Retirement discussed SBCERS' automated call distribution system, and concluded the meeting with a vote to adopt the budget for fiscal year ending June 30, 2020. The minutes for the June 26, 2019 regular Board of Retirement meeting can be found HERE .

July 31, 2019 Board of Retirement Meeting Agenda Available The next Regular Board of Retirement meeting is on July 31, 2019 in the Coastal Room at Employees' University. Click HERE to access the Board M aterials on our agenda management website.

Board of Retirement Elections: General, Safety, & Safety Alternate SBCERS is holding elections for the 2nd General Member, 7th Safety Member, and 7th Safety Alternate Member of the Board of Retirement. All members eligible to participate in the elections will receive an official notice by mail. Nominating petitions are available at both SBCERS Santa Barbara and Santa Maria offices, and online at sbcers.org . Nominating petitions must be filed with the County Elections Office in Santa Barbara by 5:00 p.m., Tuesday, August 6. A voting ballot will be mailed to all eligible members on Wednesday, September 4, and available for pickup in the Elections division offices. Results will be tabulated by the Elections division on Thursday, September 26.

Want help with your Health Care Inquiries and 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 Provider

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, 3916 State Street, Suite 100 Santa Barbara, CA 93105, 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.