Board Meeting May 20, 2026

Wednesday, May 20, 2026
10:00 am

Please note the location change.
This meeting will take place at the CalPERS Feckner Auditorium at 400 P Street.

If you wish to watch the meeting, you can connect using Zoom here. You can only address the Board in person.

Agenda

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

Item 2 – Public Comment – No Materials

Consent Matters

Item 3 – Minutes of the April 15, 2026 Regular Meeting
Approve the minutes of the April 15, 2026 Regular Meeting.

Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:

Item 4A – ANDRADE, Aaron (Deputy Sheriff, Sacramento County Sheriff’s Department): Grant a service-connected disability retirement.

Item 4B – BRADFORD, Lona (Airport Operations Dispatcher, Sacramento County Department of Airports): Grant a service-connected disability retirement.

Item 4C – BUONO, Shannon (Deputy Sheriff Range A, Sacramento County Sheriff’s Department): Grant a service-connected disability retirement.

Item 4D – GRAHAM, Donna (Real Property Appraiser Lv. 2, Sacramento County Assessor’s Office): Grant a service-connected disability retirement.

Item 4E – HER, Johnny (Sheriff Deputy, Sacramento County Sheriff’s Department): Grant a service-connected disability retirement.

Item 4F – MACIEL, Amanda (Sheriff’s Sergeant, Sacramento County Sheriff’s Department): Grant a service-connected disability retirement.

Item 4G – PADILLA, Alejandro (Collection Equipment Operator II, Waste Management and Recycling Department): Grant a service-connected disability retirement.

Item 5 – Ratification of Service Retirement Application Approvals—April 2026
Ratify the service retirement applications that were finalized in April 2026.

Item 6 – State Association of County Retirement Systems Legislative Update—May 2026
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for May 2026.

Item 7 – Portfolio Allocation and Rebalancing Report––First Quarter 2026
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended March 31, 2026.

Item 8 – Monthly Report of Investment Activity—April 2026
Receive and file the Monthly Report of Investment Activity for April 2026.

Executive Reports

Item 9 – Chief Executive Officer’s Report (no action requested)

Item 10 – Chief Investment Officer’s Report (no action requested)

Item 11 – Chief Benefits Officer’s Report
Receive and file CBO Report for the quarter ended March 31, 2026.

Administrative Matters

Item 12 – Education: Actuarial Assumptions
Receive and file report on actuarial assumptions and considerations as part of the upcoming Experience Study, as presented by Segal.

Item 13 – Annual Budget for Fiscal Year 2026-27
Approve an annual budget of approximately $24.6 million and 77 positions for fiscal year 2026-27.

Item 14 – Compensation Consultant
Authorize the Chief Executive Officer to execute a contract with CBIZ Compensation Consulting through December 31, 2026, in an amount not to exceed $40,000, as recommended by the Ad Hoc Compensation Committee.

Item 15 – Technology Advisory Support
Authorize Chief Executive Officer to execute a contract with Gartner for independent, technology advisory support through December 31, 2026, in an amount not to exceed $110,000.

Item 16 – Banking and Accounting System Alignment
Receive and file report on timing, strategy, and implementation approach for banking and accounting operations.

Investment Matters

Item 17 – Education: Private Credit
Receive and file presentation on private credit market dynamics, as presented by Cliffwater and Staff.

Item 18 – Total Fund Investment Performance Review Report—First Quarter 2026
Receive and file the performance report for the quarter ended March 31, 2026, as presented by Cerity Partners.

Other Matters

Item 19 – Comments from Members of the Board of Retirement

Closed Session

Item 20 – 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 21 – 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 4, above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff.

Adjournment