Board Meeting December 11, 2024

Wednesday, December 11, 2024
10:00 am – 10:00 am

Agenda

Minutes

Open Session

Item 1 – Call to Order / Roll Call – No Materials

Item 2 – Public Comment – No Materials

Consent Matters

Item 3 – Minutes of the October 16, 2024 Regular Meeting
Approve the minutes of the October 16, 2024 Regular Meeting.

Item 4 – Minutes of the November 19, 2024 Audit Committee Meeting
Recommendation to approve the minutes of the November 14, 2024 Audit Committee Meeting.

Item 5 – Minutes of the November 20, 2024 Regular Meeting
Recommendation to approve the minutes of the November 15, 2024 Regular Meeting.

Item 6 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:

Item 6A – BALLANTYNE, George (Collection Equipment Operator, Waste Management and Recycling): Grant a service-connected disability retirement.

Item 6B – CERVANTES, Irma (Custodian Level 2, Airports): Grant a service-connected disability retirement.

Item 6C – FUSILIER, Angela (Human Services Social Worker – Master’s Degree, Child, Family and Adult Services): Grant a service-connected disability retirement.

Item 6D – POWE, Dexter (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.

Item 6E – SLONEKER, Brad (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.

Item 6F – TELL, Lionel (Senior Highway Maintenance Worker, Airports): Grant a service-connected disability retirement.

Item 6G – VALIENTE, Ambar (Head Start Intervention Specialist, Sacramento Employment Training Agency): Grant a service-connected disability retirement.

Item 6H – WALSH, Malika (Mental Health Counselor, Department of Behavioral Health): Grant a service-connected disability retirement.

Item 7 – Ratification of Service Retirement Application Approvals—October and November 2024
Ratify the Service Retirement Application Approvals for October and November 2024.

Item 8 – Board Meeting Calendar 2025 
Approve the Retirement Board Meeting Calendar for 2025.

Item 9 – Salary Resolution Amendment
Approve the following positional change for 2025-26: Reallocate 1.0 FTE Information Technology Systems Support Specialist to 1.0 FTE Information Technology (IT) Infrastructure Analyst II.

Item 10 – Monthly Report of Investment Activity—October and November 2024
Receive and file the Monthly Report of Investment Activity for October and November 2024.

Item 11 – Portfolio Allocation and Rebalancing Report—Third Quarter 2024
Recommendation to receive and file the Portfolio Allocation and Rebalancing Report for quarter ended September 30, 2024

Executive Reports

Item 12 – Chief Executive Officer’s Report – No Materials

Item 13 – Chief Investment Officer’s Report – No Materials

Item 14 – Chief Benefits Officer’s Report – No Materials

Administrative Matters

Item 15 – Actuarial Valuation and Review and GASB 67 Report as of June 30, 2024
Adopt the 2025-26 fiscal year employer and member contribution rates recommended by Segal; receive and file the Actuarial Valuation and Review as of June 30, 2024; and receive and file the Governmental Accounting Standards Board Statement 68 Actuarial Valuation as of June 30, 2024.

Item 16 – Annual Comprehensive Financial Report for Fiscal Year Ended June 30, 2024
Receive and file the SCERS Annual Comprehensive Financial Report (the ACFR) based on the audited financial statements and auditor reports as of and for the fiscal year ended June 30, 2024, issued by SCERS’ independent auditor, Brown Armstrong Accountancy Corporation (Brown Armstrong).

Investment Matters

Item 17 – ALM Study
Receive and file presentation regarding Asset Liability Modeling study.

Item 18 – Total Fund Investment Performance Report—Third Quarter 2024
Receive and file the performance report for the quarter ended September 30, 2024, as presented by Verus.

Item 19 – Quarterly Investment Performance Report—Alternative Assets
Receive and file the performance report for the periods ending September 30, 2024 for the Absolute Return portfolio, and the periods ending June 30, 2024 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater.

Item 20 – Quarterly Investment Performance Report—Real Estate
Receive and file the performance report on real estate investments for the quarter ended September 30, 2024, as presented by Townsend Group. 

Other Matters

Item 21 – Comments from Members of the Board of Retirement – No Materials

Benefit Matters (Time Certain: 1:00 P.M.)

Item 22 – Administrative Appeal
Adopt Staff’s recommendation for the following matter:

Item 22A – Tidwell, Walter (former Criminal Investigator, District Attorney’s Office): Affirm the denial of Appellant’s request regarding community property.

Closed Session

Item 23 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
Pursuant to Government Code Section 54956.9(d)(1), this session shall be closed for the Board to discuss formally initiated litigation to which SCERS is a party: SCERS vs. Telus Health (US) Ltd., United States District Court, Eastern District of California, Case No. 2:24-cv-01431-JAM-DB

Item 24 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION
Pursuant to Government Code Section 54956.9(d)(4), this session shall be closed for the Board to discuss potential litigation to which SCERS may be a party (1 case)

Item 25 – PERSONNEL MATTERS—EMPLOYEE DISABILITY RETIREMENT APPLICATIONS 
Pursuant to Government Code Section 54957(b), this session shall be closed for the Board to discuss the employment of public employees, specifically, the disability retirement applicants referenced in Item 6 above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff

Item 26 – PUBLIC EMPLOYEE PERFORMANCE EVALUATION—CHIEF EXECUTIVE   OFFICER
Public employee performance evaluation pursuant to Government Code Section 54957(b)(1).

Adjournment​