June 18 , 2025 – 10:00 a.m.
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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 May 21, 2025 Regular Meeting
Approve the minutes of the May 21, 2025 Regular Meeting
Item 4 - Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A - COOPER, Laurie (Assistant Probation Officer, Sacramento County Probation Department): Grant a service-connected disability retirement.
Item 4B - FISHER, Alice (Mental Health Worker, Sacramento County Mental Health Department): Grant a service-connected disability retirement.
Item 4C - IVORY, Nekia (Deputy Clerk III, Sacramento Superior Court): Dismiss for non-cooperation in pursuing the application.
Item 4D - MCENTIRE, David (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5 - Ratification of Service Retirement Application Approvals—May 2025
Ratify the service retirement applications that were finalized in May 2025.
Item 6 - State Association of County Retirement Systems (SACRS) Information
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for June 2025.
Item 7 – 2025-26 Employer Contribution Prepayments
Approve Sacramento County’s and Sacramento Area Sewer District’s intent to prepay the employer contribution for the 2025-26 fiscal year.
Item 8 - Monthly Report of Investment Activity—May 2025
Receive and file the Monthly Report of Investment Activity for May 2025.
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
Administrative Matters
Item 12 - Sacramento County Department of Finance-Division of Revenue Recovery Memorandum of Understanding
Approve Memorandum of Understanding between SCERS and the County Department of Finance-Division of Revenue Recovery regarding overpayment collection processes and procedures and authorize the Chief Executive Officer to execute the document on behalf of SCERS.
Investment Matters
Item 13 - Investment Manager Recommendation—Global Equity
Approve an investment of approximately $250 million to Acadian Asset Management’s Global All Country Equity Extension strategy, approve converting Acadian’s International Small Cap Value strategy to Acadian’s Non-U.S. Small Cap Developed Equity with a commitment of approximately $195 million, authorize Staff to determine the most effective method for transitioning assets, and authorize the Chief Executive Officer to execute any documents or agreements necessary to complete the investments and transition of assets.
Item 14 - Portfolio Analytics Services
Authorize the Chief Executive Officer to extend the contract with MSCI for portfolio analytic services for an additional three years, though June 30, 2028, with expenditures not to exceed $650,000 each fiscal year.
Item 15 - Investment Performance Report—Alternative Assets
Receive and file the Investment Performance Report for the quarter ended March 31, 2025 for the Absolute Return portfolio, and the quarter ended December 31, 2024 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater, LLC.
Item 16 - Investment Performance Report—Real Estate
Receive and file Investment Performance Report on real estate investments for quarter ended March 31, 2025, as presented by Townsend Group.
Item 17 - General Investment Consultant Services
Authorize the Chief Executive Officer to extend the consulting services agreement with Verus for an additional two years, through June 30, 2027, with expenditures not to exceed $510,000 each fiscal year.
Item 18 - Real Estate Investment Consultant Services
Authorize the Chief Executive Officer to extend the consulting services agreement with The Townsend Group for an additional two years, through June 30, 2027, with expenditures not to exceed $275,000 each fiscal year.
Other Matters
Item 19 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 20 - 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 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.