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Agenda

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 19, 2025 Regular Meeting
Approve the minutes of the February 19, 2025 Regular Meeting

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

Item 4A - FLORES, Jorge (Food Services Worker, Health Services): Grant a service-connected disability retirement.

Item 4B - HUGHES, Rhonda (Senior Staff Attorney, Sacramento Superior Court): Grant a non-service connected disability retirement.

Item 4C - MORTON, Michael (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.

Item 5  - Ratification of Service Retirement Application Approvals—February 2025
Ratify the service retirement applications that were finalized in February 2025.

Item 6 - State Association of County Retirement Systems Legislative Update—March 2025
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for March 2025.

Item 7 - Monthly Report of Investment Activity—February 2025
Receive and file the Monthly Report of Investment Activity—February 2025.

Item 8 – Annual Investment Operations Report
Receive and file Annual Investment Operations Report for 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

Benefit Matters

Item 12 - Error Correction Policy
Approve amendments to Error Correction Policy.

Administrative Matters

Item 13 – 2025-26 Budget Preview
Receive and file presentation regarding anticipated changes in SCERS’ 2025-26 annual budget.

Item 14 - Media and Legislative Relations Policy
Approve new Media and Legislative Relations Policy.

Investment Matters

Item 15 - Strategic Asset Allocation 
Approve adjustments to Strategic Asset Allocation.

Item 16 - Investment Performance Report—Alternative Assets
Receive and file the Investment Performance Report for the quarter ended December 31, 2024 for the Absolute Return Portfolio, and the quarter ended September 30, 2024 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater, LLC.

Item 17 - Investment Performance Report—Real Estate
Receive and file the performance report on real estate investments for the quarter ended December 31, 2024, as presented by Townsend Group.

Other Matters

Item 18 - Comments from Members of the Board of Retirement - No Materials

Closed Session

Item 19 - 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 20 - CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Pursuant to Government Code Section 54956.8, this shall be a closed session to discuss real property located at 980 9th Street, Sacramento, California 95814.
    Agency Negotiator: Eric Stern, Chief Executive Officer, SCERS
    Negotiating Party: Prime US – Park Tower, LLC
    Under Negotiation: Lease price and terms

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​