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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 August 16, 2023 Regular Meeting
Recommendation to approve the minutes of the August 16, 2023 Regular Meeting.

Item 4 - Disability Retirement Applications
Recommendation to adopt Staff’s recommendations for the following Disability Retirement Applications:

Item 4A – CROSBY, Patrice (Workforce Coordinator, Department of Human Assistance): Grant service-connected disability retirement (confidential)

Item 4B – JEWEL, Clark (Food Service Cook, Sheriff’s Department): Grant non-service-connected disability retirement (confidential).

Item 4C – KLARE, Elyn (Deputy Sheriff, Sheriff’s Department): Grant service-connected disability retirement(confidential).

Item 4D – NICHOLS, Reginald (Collection Equipment Operator, Department of Waste Management): Grant service-connected disability retirement (confidential).

Item 4E – ZIMMERMAN, Dawn (Human Services Social Worker, Department of Child, Family, and Adult Services): Grant service-connected disability retirement (confidential).

Item 5 – Ratification of Service Retirement Application Approvals—August 2023
Recommendation to ratify the Service Retirement Application Approvals for August 2023.

Item 6 – State Association of County Retirement Systems Legislative Update—August 2023
Recommendation to receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for August 2023.

Item 7 – Monthly Report of Investment Activity—August 2023
Recommendation to receive and file the Monthly Report of Investment Activity—August 2023.

Executive Reports

Item 8 - Chief Executive Officer’s Report – No Materials

Item 9 - Chief Investment Officer’s Report – No Materials

Item 10 - Chief Benefits Officer’s Report – No Materials

Administrative Matters

Item 11 – CEO Delegated Authority Policy for Expenses
Recommendation to amend CEO Delegated Authority Policy for Expenses to include authorization for use of SCERS commercial credit card.

Benefit Matters

Item 12 – Sick Leave Conversion Policy
Recommendation to re-affirm Sick Leave Conversion Policy.

Item 13 – Felony Forfeiture Policy
Recommendation to approve amendments to Felony Forfeiture Policy.

Investment Matters

Item 14 – Liquidity Study
Recommendation to receive and file the liquidity study and cash-flow profile of SCERS’ portfolio, as presented by Verus Advisory.

Item 15 - Quarterly Investment Performance Report—Alternative Assets
Recommendation to receive and file the performance report for the periods ending June 30, 2023 for the Absolute Return portfolio, and the periods ending March 31, 2023 for the Private Equity, Private Credit, Real Assets, and Opportunities portfolios, as presented by Cliffwater, LLC.

Item 16 - Quarterly Investment Performance Report—Real Estate
Recommendation to receive and file the performance report on real estate investments for the quarter ending June 30, 2023 as presented by Townsend Group.

Other Matters

Item 17 – Comments from Board Members of the Board of Retirement – No Materials

Closed Session

Item 18 – 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 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.