Volume 23 | May 21, 2019

CELEBRATING 75 YEARS 1944-2019

May 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: Remembering Gary L. Feramisco, Former County Treasurer-Tax Collector and SBCERS Board Member 2019 COLA Tracker April 2019 Investment Performance April 24, 2019 Board of Retirement Meeting Highlights May 22, 2019 Board of Retirement Meeting Agenda CareCounsel Information RESBC Membership Information

Remembering Gary L. Feramisco

Gary Feramisco, former County Treasurer-Tax Collector and SBCERS Board Member passed away recently, just short of his 78th birthday. Gary served as a Board Member and the Ex-Officio executive of SBCERS for several years prior to SBCERS becoming independent of the County Treasurer’s office. After SBCERS became independent, Gary became the first SBCERS Retirement Administrator. His contributions to the organization were instrumental in building the modern organization that exists today. Beyond his leadership to SBCERS, he served as a mentor to many people who would later go on to serve as elected officials at the County.   Harry Hagen, current County Treasurer-Tax Collector and Ex Officio Board of Retirement member said, “Gary Feramisco was one of the most ethical, intelligent and hard-working public servants I have ever had the honor of working with, but my fondest memories of Gary will always be how kind, generous and funny he was. We lost an exceptional man with his passing.”   Gary remained active in our retiree community and served on the County’s Retirement Program Alternatives Advisory Commission from 2010-2011. We all owe him a debt of gratitude for his contributions to the organization and the County at large. Our hearts and thoughts are with his wife Diane, son Gary, daughter-in-law Larissa, and his grandchildren. The classical author Thucydides once said “What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.” On that note, thank you for your service, Mr. Feramisco.

2019 COLA Tracker For April 2019, Los Angeles Area Inflation (year over year) was 3.34%. The average monthly increase for 2019 to date is 2.93%. 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.

April 2019 Investment Performance  The Total Fund returned 1.56% for the month of April. Since the fiscal year beginning July 1, 2018, the portfolio has returned 5.93%, generating over $175 million for our beneficiaries. Click HERE to Read the Full April 2019 Investment Flash Report!

April 24, 2019 Board Meeting Highlights At the Board of Retirement's April 24, 2019 meeting, the Board adopted a Felony Forfeiture Policy, and approved amendments to the CEO Review Policy, Employer Records Audit Policy, and Pension Enhancement Review Policy. The CEO Review will take place in closed session at the June 5, 2019 Regular Board of Retirement meeting. The Board also approved an investment of $20 million to PIMCO Private Income Fund (PIF). The minutes for the April 24, 2019 regular Board of Retirement meeting can be found HERE .

May 22, 2019 Board Meeting Agenda Available The next Regular Board of Retirement meeting is on May 22, 2019. Click HERE to access the Board Materials on our agenda management website.

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: [email protected] 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 [email protected].   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.