1099 TALES, REVISITEDLast year at this time, we asked for your stories in the wake

of learning about the precipitous actions of SBCERS that led to issuance of IRS Form 1099s to retirees with direct deposit that reflected 13 monthly pension checks for 2016. Now, the other shoe has dropped and most retirees will have a 1099 for 2017 reflecting only 11 checks. RESBC would like to know how this has affected you and your family. Did you discover that the net effect is counter balancing? Do you still suffer from having your 2016 tax returns reflect the abnormal income amounts? What about the lower amounts for 2017? Please share your story with us. Contact: Annette Paladino, RESBC President, AnnetteAPaladino@Gmail.com.

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1R E S B CNEWSLETTERPublished by the Retired Employees of Santa Barbara County

Edition 2018 January, February, March, April, 2018 Vol. 1

“RESBC NEWSLETTER”, (USPS No. 009381) is published quarterly by the Retired Employees of Santa Barbara County, Inc., for a subscription of $3 annually. Periodicals Postage is paid at Santa Barbara, CA. POSTMASTER: Please send address changes to RESBC, P.O. Box 30401, Santa Barbara, CA 93130.

PR E S I D E N T ’ S M E S S A G E :By Annette Paladino

Hello, Retirees:

On behalf of the 2018 RESBC officers – Zandra Cholmondeley, Vice President - Mark Brickley, Secretary - Tony Manuel, Treasurer and myself as President – thank you for re-electing us! We are honored to serve, and we will strive to meet your expectations.

As many of you know, 2018 began badly for Santa Barbara County, with the January 9th mudslides that caused unprecedented property damage to the Montecito area, and tragically took 23 lives. Our thoughts and prayers go out to those in our community, especially our members, who were impacted by the disaster. We also want to express our thanks to our County firefighters, law enforcement, flood control and public health employees who worked long hours, along with other first responders, to provide services and critical information to the community during the crisis.

Motivated by the lingering depressed spirit in our community, the RESBC board is especially anxious to lift the mood of our local members by providing an assortment of interesting outings and activities in the coming year. In addition to our luncheons, St. Patrick’s party and Christmas party, we also scheduled trips to the King Tut exhibit in Los Angeles, to Hollywood to see the musical On Your Feet and to Dodger Stadium to cheer on our beloved boys in blue. Additionally, we are working on other events that we will announce later. We encourage our members who do not live locally, to consider participating in our Travel Club trips. This year Travel Club is offering two European trips. See the details of all of our events elsewhere in this issue. We are pleased to report that participation in RESBC events is increasing each year, and we are gratified to know, based on many retiree comments, that we are positively impacting your lives.

In regard to more serious issues facing our members, we recently became aware that the reporting of a 13th pay period by SBCERS for the 2016 tax year resulted in increased Medicare premiums for many retirees in 2018. SBCERS provided retirees with an explanation letter to be used in appealing the premium increase to Social Security. To our knowledge, appeals have not been successful. RESBC is looking into the issue further. We will inform you of any developments.

I want to welcome our new SBCERS Alternate Retiree Trustee, Gary Blair. Gary was elected by retirees last year.

Continued on page 2 SEE “PRESIDENT’S MESSAGE”…

ST. PATRICK’S DAY PARTY!

MARCH 13, 2018 - 3:00 P.M.$15 per person, with reservation - $20 at the door

HARRY’S PLAZA CAFÉ3313 STATE STREET

SANTA BARBARA

CORNED BEEF & CABBAGE, ETC. BUFFET

LIVE IRISH MUSIC

TUESDAYMARCH 13, 2018

Directions to Harry’s Plaza CaféFrom North or South: Take US 101 to the exit for Las Positas Road, turn north towards the mountains, and proceed up Las Positas Rd for 0.8 miles.  Turn left into Loreto Plaza on the SW corner of State and Las Positas.  Harry’s Plaza Café is in the back (SW corner) of the parking lot.  (Address:  3313-B State Street, Santa Barbara, CA 93105.   See:  www.harryssb.com/directions.html.)

congratulationscongratulations

Greetings, fellow retirees.  Moving into spring, I hope this first newsletter of the year finds you in good spirits, not paying too much attention to the roiling stock market, thinking instead of how fortunate we all are to be in a financially sound pension system with a guaranteed pension- and even better, planning to stress test the retirement system with long lives! 

Here are a few happenings on the Retirement Board worth noting:

SBCERS Board- On January 24, 2018, four new Board members joined the Retirement Board. Two public members, Trent Benedetti and Ted Sten, were appointed by the Board of Supervisors, replacing Al Rotella and Suzi Schomer. Mr. Benedetti is a financial consultant and Mr. Sten is retired and former foreman of the Grand Jury. New member Laura Robinson, an appraiser in the Assessor’s office, was elected by active members and alternate member Gary Blair, retired Court Administrator, was elected by retirees. Also at the January 24th meeting, Treasurer and ex officio member Harry Hagen was elected as Board Chair and Supervisor Janet Wolf was elected as Vice Chair.

Status of the Pension Fund- At December 31, 2017, the pension fund was valued at $2.98 billion and posted a return of 7.2% for the first half of the fiscal year, with gains across all major asset classes. But hold the celebration- a long expected drop in the stock market started in early February- and whether this drop represents a pause in the bull market or a more sustained correction is anyone’s guess. We will learn more about its effect on the fund in the coming months. As

you know, June 30, 2018 is the date that the Fund’s value is captured for actuarial valuation and rate setting purposes, and that is still a few months away.

June 30, 2017 Actuarial Valuation- On December 14, 2017, Cheiron Actuaries presented the valuation report. The report stated that the market value of the Fund’s assets at that time was $2.8 billion, up 9.7% - $346 million - from the prior year. During 2016-17, the return on the Plan’s assets was 10.39% compared to the assumed return of 7%. The funded ratio was 75.7%, up 4.2% from the prior year, primarily due to asset gains in 2016-17. The unfunded actuarial liability decreased by $116.3 million, to $901 million, also primarily due to asset gains. The employer contribution rate increased by 38.71% to 39.14%, up 0.43%. This new rate will be effective July 1, 2018. 

Discussion on possible SBCERS’ Real Estate Acquisition- From time to time, the Retirement Board has weighed the benefits of purchasing a building versus continuing to rent office space in Santa Barbara. The major considerations are adequate office space, meeting space, accessibility, and of course, parking. Once in negotiation, real estate discussions are generally calendared as Closed Session items. Although there has been no success in the search thus far, this note is to let you know that the Board is actively looking for suitable space and recently discussed the purchase of a building in Goleta. 

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R E T I R E M E N T N E W S J A N U A R Y 2 0 1 8By Zandra Cholmondeley, Retiree Trustee

Alicia AlcocerJerry Bacon

Monica BowenVictoria ClouseDiane Evans

John Hedrick, Jr.

Stephanie HedrickJanice HurdleDorothy Jones

Abe LeiderRobert MacLeodJeanne Malone

Timothy McWilliamsAllyn Mercier

Christopher MurphyGordon O’NeillMichael Perkins

Jason Poley

Diane ReckDenise SeidmanSusan SlatteryKimberly Smith

Michelle Thomas

N E W R E S B C M E M B E R S

PRESIDENT’SContinued from page 1…

President’s messageHis term on the Board of Retirement begins on 1/24/18. Mr. Blair joins our Retiree Trustee, Zandra Cholmondeley. I am confident that our two representatives will vigorously advocate for the best interests of all retirees. I thank them for their interest and leadership in this most important position.

As your RESBC president, I also wish to serve your best interests

through our retiree association. Please send me your ideas, concerns, comments, etc at AnnetteAPaladino@Gmail.com.

Thank you for your membership, and your much appreciated support.

Best regards to all, Annette.

CK

3holiday Luncheon December 9, 2017

MUSEUM TRIP! Saturday, 5/19/2018

KING TUT EXHIBIT!LA SCIENCE CENTER

PRICE$40 each - retiree/1 guest

$45 each - additional guests(includes bus, exhibit and IMAX film) Includes show, transportation, snacks

RESERVATION FORM – KING TUT – 05/19/18REMEMBER TO PLACE THIS EVENT ON YOUR CALENDAR!

Retiree name: ____________________________________________Email___________________________________

Retiree Address__________________________________________________ Retiree Phone _____________________

Guest name: ______________________________________________________________________________________

Pickup: (check your pickup location) Santa Barbara _____ Carpinteria ______ Ventura __________ @$40; ____@$45 = TOTAL $_______

MAKE CHECK PAYABLE TO RESBC Send reservation and check to: RESBC, PO Box 30401, Santa Barbara, CA, 93130-0401

Walk like an Egyptian !!!BUS PICKUP LOCATIONS

Santa Barbara 9:00 am Sears LaCumbre Carpinteria 9:15 am Casitas Plaza Ventura 9:30 am McD’s-Seaward

LUNCH STOP - L.A. FARMERS MARKET(cost - on your own)

DODGER BASEBALL. . Dodgers v. Astros . .

Sunday August 5, 2018Game Time 1:10 pm

$70.00 each - retiree and 1 guest

$80.00 each - additional guests

IT ’S TIME FOR…

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I M P O R T A N T C O N T A C T I N F O R M A T I O NThis page will be reserved for information and services for RESBC members and where and how they may be contacted. Please call the particular organization for the service you desire. RESBC cannot help with those services provided by others.

RESERVATION FORM - DODGER BASEBALL 8/5/2018Retiree name: ____________________________________________________________

Guest #1 name:____________________________________________________________ _______@$70 = $_________

Additional Guests: _________________________________________________________

_________________________________________________________________________ _______@$80 = $_________

ENCLOSED CHECK PAYABLE TO RESBC TOTAL: $_________

Retiree email: ____________________________ Retiree Phone: ____________________________

Retiree Address: ___________________________________________________________________________________

Pickup: (check location) ___Santa Barbara ___Carpinteria ___Ventura

Please complete and return MAKE CHECK PAYABLE TO RESBC, Send reservation and check to: RESBC, PO Box 30401, Santa Barbara, CA, 93130-0401

Bus Pick Up: Santa Barbara: 10:00 am Sears upper Lot; Carpinteria: 10:15 am Casitas Plaza; Ventura: 10:30 am at McDonalds Seaward

REMEMBER TO ADD THIS EVENT TO YOUR CALENDAR!

R E S B C : Retired Employees of Santa Barbara CountyP O Box 30401, Santa Barbara, CA 93130-0401

Website address: www.resbc.usPhone/voice mail: (805) 568-5933_____________________________________________

2018 CALENDAR OF EVENTSMar 13 St. Patrick’s Day PartyApr 16-18 CRCEA ConferenceMay 19 King Tut Bus TripJul 6-19 Travel Club—Eastern EuropeJul 29 Pantages, On Your Feet!Aug 5 Dodgers v. AstrosOct 1-13 Travel Club—Alpine Europe_____________________________________________

CARE COUNSEL: 1-888-227-3334Resources for your health care needs. Helps to solve problems related to care and assists with advocation. Does not provide medical advice or treatment. _____________________________________________

S B C E R S :S.B. Co. Employees Retirement System3916 State St., Ste. 100, Santa Barbara, CA 931052400 Professional Parkway, Ste. 150, Santa Maria, CA 93455

Website address: www.sbcers.org For the Fastest Help with Benefits Questions,

Call Toll-Free, or email:1-877-568-2940

benefits@sbcers.orgSanta Barbara:Rebekah Bardakos, Benefits Manager 805-568-2944Barbara Gordon, Benefit Representative 805-568-2942

Santa Maria:

Scott Dunlap, Benefit Representative 805-739-8667Jenny Labastida, Benefit Representative 805-739-8668______________________________________________

CCKK

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COST $70 each – Retiree/1 guest, $80 each - additional guests(Price includes show, transportation and snacks)

Bus Pick Up: Santa Barbara: 1:00 pm Sears LaCumbre parking lot; Carpinteria: 1:15 pm Casitas Plaza Ventura: 1:30 pm McDonalds - Seaward

THEATER TRIPSunday, July 29, 2018

ON YOUR FEET!

Story of Gloria EstefanAnd

The Miami Sound Machine

RESERVATION FORM - ON YOUR FEET! - 07/29/18REMEMBER TO PLACE THIS EVENT ON YOUR CALENDAR!

Retiree name: ____________________________________________________________ Guest #1 name:____________________________________________________________ _______@$70 = $_________Additional Guests: __________________________________________________________________________________________________________________________________ _______@$80 = $_________ ENCLOSED CHECK PAYABLE TO RESBC TOTAL: $_________

Retiree email: ____________________________ Retiree Phone: ____________________________

Retiree Address: ____________________________________________________________________________________

Pickup: (check location) ___Santa Barbara ___Carpinteria ___Ventura

Please complete and return MAKE CHECK PAYABLE TO RESBC, Send reservation and check to: RESBC, PO Box 30401, Santa Barbara, CA, 93130-0401

PANTAGES THEATER HOLLYWOOD6:30 pm performance

DINNER STOP L.A. FARMERS MARKET(Dinner cost - on your own)

The music is gonna get you!!!

In MEMORY Of

Solange BarrettVirginia CarlyonClarence Clouse

Jack DavisJoseph Dorfman

Peter Dullea

Joni GrayMarilyn HenryDonald Jones

Aletha KeithleyCatherine LaraJanet Larsen

James MaloneFred Ornelas

Elizabeth RichmondAlma Rosa

Richard SesmaShirley Stickney

In MEMORY OfIn MEMORY Of

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RETIREE TRAVEL CLUB NEWSHere are the trips planned for 2018. If you are interested in participating in either trip, please contact Annette Paladino at 805-448-4955 or by email at annetteapaladino@gmail.com.

1. EASTERN EUROPE BUDAPEST, VIENNA AND PRAGUE: 7/6-16, 2018; 7/19 w/ext to SalzburgPrice: Double occupancy: $3869 per person; $4468 per person with 3 night extension to Salzburg; Single occupancy: $4309; $4908 with extension to SalzburgDetails: Price includes roundtrip airfare from LAX, ground transportation from/to airport in Europe, hotel rooms, all breakfasts, 3 dinners (additional dinners are included in optional side trips), baggage handling, city tours, ground transportation, entrance to attractions. Itinerary includes visits to Hungarian Parliament, Matthias Church, Schonbrunn Palace/gardens, Prague Castle, Salzburg Cathedral, Hohensalzburg Fortress. Optional side trips from $69-$145 per person: Walking tour of Prague Jewish Quarter, Prague Chateau Sychrov, Viennese Heurigen Evening, Walk Behind the Iron Curtain, Danube River Cruise/Wine Tasting, Unicum Liquor/Wine Tasting Dinner, Mozart Dinner and Concert, and Eagle’s Nest/Salt Mines tour.2. JEWELS OF ALPINE EUROPE: 10/01-10/13/2018; 10/15 w/ext to SalzburgPrice: Dbl.Occ: $3839 ea; $4238 ea w/ext to Salzburg; Sngl.Occ: $4319; $4858 w/ext to SalzburgDetails: Price includes airfare from LAX, and as described above. Itinerary includes Lucerne, Bern, Lake Annecy, Lake Como, St, Moritz (aboard the Bernina Express), Innsbruck, Chamonix, Munich, Salzburg.Optional trips from $25-$115 per person to Mt. Pilatus, Dachau, Eagle’s Nest, Neuschwanstein castle, Mozart concert and dinner. TRAVEL CLUB MEMBERS HAVING FUN!

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ST. PATRICK’S DAY PARTY!

TUESDAY, MARCH 13, 2018 - 3:00 P.M. $15 per person, with reservation - $20 at the door

HARRY’S PLAZA CAFÉ 3313 STATE STREET

SANTA BARBARACORNED BEEF & CABBAGE, ETC. BUFFET

LIVE IRISH MUSIC

RESERVATION - ST. PATRICK’S DAY LUNCHEON 03/13/18- 3pmPlease make reservations by 03/8/18; No refunds for cancellations after 03/11/18

Cost: $15 per person, with reservation $20 at the doorSend check payable to “RESBC” to: RESBC, PO Box 30401, Santa Barbara, CA 93130-0401

Total amount due @ $15 each: ___ x $20 = ________

Retiree Name: _____________________________________________________________________________________

Retiree Phone: _______________________________ Retiree Email Address:___________________________________

Guest(s) Name:___________________________ ___________________________ _____________________________

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Would you like to be on a list from which RESBC officers and directors may be chosen? ❑ Yes ❑ No

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Remember to send a check with your reservation AND MARK YOUR CALENDAR!

N O R T H E R N I T A L Y G A S T R O N O M I C E X T R A V A G A N Z ABy Ann “Sully” Sullivan Thanks to the efforts of Annette Paladino and Go Ahead Tours,

the RESBC Food and Wine Tour, was a tasty treat for the senses last fall. There was so much to see, learn, and of course taste.

The adventure began in Turin, the city of trees, which were changing color for some lovely foliage viewing. We stayed in Hotel NH Lingotto, a converted Fiat Factory, complete with a test track on the roof and a private art collection on an upper floor. Touring the city included wonderful piazzas, the Church of San Lorenzo, wine tasting along with a tour of the Palace of Venaria and its great gardens.

We stayed there for a few days and then bussed to the seaside town of Santa Margherita by way of the Barolo wine country, where we did more wine tasting, had another delicious lunch and visited the Castle of Grinzane Cavour. From Santa Margherita we took a boat along the coast to Cinque Terra National Park and visited two seaside communities, including Monterossa al Mare.

After Santa Margherita we bussed to Bologna. There, we were treated to a demonstration of how parmigiano reggiano is made and aged, complete with tasting the finished product! In

Modena, our group visited a farm producing Balsamic Vinegar. We had another wonderful lunch, with wine and vinegar tasting, of course.

In Bologna we visited the University of Bologna, the world’s first university still operating. Nearby, at a castle in Dozza, a lovely hillside town with beautiful murals adorning the buildings, we sampled more local wine! Also, our group participated in a cooking class and got to eat the “fruits” of our labor, two types of pasta, one with bolognaise and the other with a light cream sauce.

The city of Verona, the city of love and thought by many to be the home for Romeo and Juliet, was our next stop. It was a delightful city with a Roman arena that looks like a mini coliseum.

We ended our tour in Venice, the city of light. Seeing Saint Mark’s and the Doge’s Palace in the sunlight was awesome. The trip through out was a feast for the intellect, eyes and, of course, the palate!

Harry H

agen, Chair

Janet Wolf V

ice-Chair 

Frederick Tan, SecretaryTrent BenedettiTed StenZandra C

holmondeley

Laura Robinson

Pancho Occiano

Michael V

idalG

ary Blair (Retiree A

lternate)R

yan Sullivan (Safety A

lternate)

The Santa Barbara County R

etirement Board m

eets on the fourth Wednesday of each

month at 9:00 am

at Employee U

niversity, 267 Cam

ino del Rem

edio, Santa Barbara, CA

Ret

ired

Em

ployees o

f Santa B

arbar

a Co

un

ty O

fficers

P

resident A

nnette Paladino

Vice President

Zandra Cholm

ondeley

Secretary M

ark Brickley

Treasurer Tony M

anuel

Jette Christiansson

Rory M

oore Bob Spinner

Offi

cers and Directors m

eet monthly at the conference room

at Chase Bank, Loreto

Plaza (near Harry’s) in Santa Barbara, except for m

onths in which our luncheon m

eet-ings w

ith the general mem

bership occur.  If you would like to attend a board m

eeting, please call R

ESBC to confirm w

hen the next meeting w

ill be.  Space is limited.

CRCEA D

ELEGATE:

Annette Paladino

RESBC N

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RESBC WEB M

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January, February, March, A

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Vol. 1

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Periodicals Postage

PA I Dat Santa Barbara, CAand Additional Entry

Permit No. 009381

RESBC NEWSLETTER Post Office Box 30401

Santa Barbara, CA 93130-0401

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