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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 March 20, 2024 Regular Meeting
Approve the minutes of the March 20, 2024 Regular Meeting.

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

Item 4A - POMPEI, Rhonda (Deputy Clerk III, Superior Court): Grant a non-service-connected disability retirement. (confidential)

Item 5 – Ratification of Service Retirement Application Approvals—March 2024
Ratify the service retirement applications that were finalized in March 2024.

Item 6 – State Association of County Retirement Systems Legislative Update—April 2024
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for April 2024.

Item 7 - State Association of County Retirement Systems—Board of Directors Election
Approve the election of officers for the 2024-25 State Association of County Retirement Systems (SACRS) Board of Directors, as recommended by the SACRS Nominating Committee.

Item 8 - Board Policies
Re-affirm the following policies with minor, non-substantive amendments:

Item 8A – Missing Member/Beneficiary Location Policy

Item 8B – Recognized Retiree Organization Policy

Item 8C – Actuarial Funding Policy

Item 8D - Interest Crediting and Unallocated Earnings Policy

Item 9 – Quarterly CEO Delegated Authority Expense Report—First Quarter 2024
Receive and file the Quarterly CEO Delegated Authority Expense Report for the quarter ended March 31, 2024.

Item 10 – Quarterly Investment Manager Compliance and Watch List Report—First Quarter 2024
Receive and file the Quarterly Investment Manager Compliance and Watch List Report for the quarter ended March 31, 2024.

Item 11 – Monthly Report of Investment Activity—March 2024
Receive and file the Monthly Report of Investment Activity—March 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 Smoothing Options
Receive and file presentation from Segal regarding actuarial smoothing options.

Item 16 – Annual Budget for Fiscal Year 2024-25
Approve an annual budget of approximately $21.5 million and 76 positions for fiscal year 2024-25.

Item 17 – Quarterly Strategic Management Plan Report—First Quarter 2024
Receive and file Quarterly Strategic Management Plan Report for the quarter ended March 31, 2024.

Item 18 – Quarterly Technology Report—First Quarter 2024
Receive and file Quarterly Technology Report for the quarter ended March 31, 2024.

Investment Matters

Item 19 – Education: Private Equity and Private Credit Asset Classes
Receive and file presentations on Private Equity and Private Credit asset classes.

Other Matters

Item 20 – Comments from Members of the Board of Retirement – No Materials

Closed Session

Item 21 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION (confidential)
Pursuant to Government Code Section 54956.9(d)(2), this session shall be closed for the Board to discuss significant exposure to litigation to which SCERS may be a party in one (1) case.

Item 22 – 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.

Adjournment​