FROM: Olivia Applegate, Director of Communications & Stakeholder Relations
SUBJECT: Update on Retirement Support Initiatives
RECOMMENDATION:
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Receive update on retirement support initiatives.
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BACKGROUND:
Last year, Trustee Harry Hatch suggested pairing seasoned SBCERA retirees with members starting the transition to retirement. In response, SBCERA staff and the Retired Employees of San Bernardino County (RESBC) organized a working group to discuss ways to help members who are nervous about retirement and want help with the transition to retired life. Trustees Harry Hatch and Dawn Stafford both participated in the working group. SBCERA members have indicated this type of assistance would be useful. In the recent SBCERA member engagement survey, 64% of retired members said it would have been beneficial to speak to a retired member about the transition to retirement before they retired.
In addition, working group members identified a need for education on a variety of topics, which are further discussed below.
"Retirement Guide" Program:
In response to the feedback gained from the working group, SBCERA staff developed the "Retirement Guide" program, a pilot initiative that will help members navigate the transition from working life to retirement.
For the pilot program, SBCERA staff plans to recruit up to 10 retired members ("Retirement Guides") by working with RESBC, the San Bernardino County Safety Employees Benefit Association (SEBA), San Bernardino County Professional Firefighters Local 935 (Local 935), Teamsters, and other stakeholders.
SBCERA will also recruit up to 10 active members (Pre-Retirees) in the process of retiring who would like to be matched with a Retirement Guide. Staff will recruit participants at pre-retirement seminars and through referrals from SEBA, Local 935, Teamsters, and other partners.
SBCERA staff will review the applications and determine the best matches based on the responses to the application...
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