Board Meeting September 18, 2024
Wednesday, September 18, 2024
10:00 am – 10:00 am
980 9th Street
Sacramento, 95814
SCERS Board Room
980 9th Street
Sacramento, 95814
Open Session
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Consent Matters
Item 3 – Minutes of the August 21, 2024 Regular Meeting
Approve the minutes of the August 21, 2024 Regular Meeting.
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – GRIEM, Joshua (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 4B – JAMES, Marcus (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 4C – MARSHALL-LEE, Richard (Assistant Probation Officer, Probation Department): Grant a service-connected disability retirement. (confidential)
Item 4D – TEMMERMAN, Frank (Judicial Services Officer, Sacramento County Courts): Grant a non-service-connected disability retirement. (confidential)
Item 4E – YANG, Leesai (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 5 – Ratification of Service Retirement Application Approvals—August 2024
Ratify the service retirement applications that were finalized in August 2024.
Item 6 – State Association of County Retirement Systems Legislative Update—September 2024
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for September 2024.
Item 7 – Board Policies
Approve amendments to or reaffirm the following policies:
Item 7A – Privacy and Confidentiality Policy
Item 7B – Protection of Individual Records Policy
Item 8 – Monthly Report of Investment Activity—August 2024
Receive and file the Monthly Report of Investment Activity for August 2024.
Executive Reports
Item 9 – Chief Executive Officer’s Report – No Materials
Item 10 – Chief Investment Officer’s Report – No Materials
Item 11 – Chief Benefits Officer’s Report – No Materials
Investment Matters
Item 12 – Enterprise Risk Tolerance Survey
Receive and file results of Enterprise Risk Tolerance Survey, as presented by Verus.
Item 13 – Liquidity Study
Receive and file the liquidity study and cash-flow profile of SCERS’ portfolio, as presented by Verus.
Item 14 – Quarterly Investment Performance Report—Alternative Assets
Receive and file the performance report for the quarter ended June 30, 2024 for the Absolute Return portfolio, and the quarter ended March 31, 2024 for the Private Equity, Private Credit, Real Assets, and Opportunities portfolios, as presented by Cliffwater, LLC.
Item 15 – Quarterly Investment Performance Report—Real Estate
Receive and file the performance report on real estate investments for the quarter ended June 30, 2024, as presented by Townsend Group.
Other Matters
Item 16 – Comments from Members of the Board of Retirement – No Materials
Benefits Matters – Time Certain: 1:00 p.m.
Item 17 – Administrative Appeal
Adopt Staff’s recommendation for the following matter:
Item 17A CAMPOS, Joyce (former Office Assistant II, Department of Human Assistance): Affirm the denial of Appellant’s request to apply for disability retirement benefits.
Closed Session
Item 18 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION (confidential)
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 19 – PERSONNEL MATTERS—EMPLOYEE DISABILITY RETIREMENT APPLICATIONS (confidential)
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.