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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 February 15, 2023 Regular Meeting

Item 4 – Cost-of-Living Adjustment (COLA) effective April 1, 2023

Item 5 – Ratification of Service Retirement Applications Approvals – February 2023

Item 6 – State Association of County Retirement Systems Legislative Update – March 2023

Item 7 – Monthly Report of Investment Activity - February 2023

Executive Reports

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

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

Benefits Matters

Item 10 – Post-Retirement Employment Policy
Recommendation to approve the Post-Retirement Employment Policy with no amendments.

Investment Matters

Item 11 - Investment Manager Recommendation - International Developed Small Cap
Recommendation to approve an investment of approximately $100 million with Acadian Investment Management (Non-U.S. Small Cap Value Equity Strategy) and authorize the Chief Executive Officer to execute necessary documents and agreements; and authorize Staff to determine the most effective method for transitioning assets and execute any necessary documents or agreements to effectuate the transition of assets.

Item 12 - Education:  ESG and Values-Based Investing
Recommendation to receive and file educational presentation on ESG and Values-Based Investing, as presented by Staff and Verus Advisory.

Item 13 - Quarterly Investment Performance Report – Alternative Assets
Recommendation to receive and file the performance report for the periods ended December 31, 2022 for the Absolute Return portfolio, and the periods ended September 30, 2022 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater, LLC.

Item 14 - Quarterly Investment Performance Report – Real Estate
Recommendation to receive and file the performance report on real estate investments for the quarter ended December 31, 2022, as presented by Townsend Group.

Closed Session

Item 15 - 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.
 

• Bowen v. Bowen (Courier) (County of Sacramento Superior Court, Case No. 18FL05396

Item 16 - 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.