October 15, 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 September 16, 2025 Special Meeting
Approve the minutes of the September 16, 2025 Special Meeting
Item 4 - Minutes of the September 17, 2025 Regular Meeting
Approve the minutes of the September 17, 2025 Regular Meeting
Item 5 - Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 5A - CROUSON, James (Sheriff Sergeant, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5B - DE LA CRUZ, Gabriel (Deputy Probation Officer, Probation Department): Grant a service-connected disability retirement.
Item 5C – SWAIM, Brandon (Sheriff Deputy, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5D – WYCOFF-CLARK, Brian (Sheriff Deputy, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6 - Ratification of Service Retirement Application Approvals—September 2025
Ratify the service retirement applications that were finalized in September 2025.
Item 7 - State Association of County Retirement Systems (SACRS) Legislative Proposals for 2026
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Proposals for 2026.
Item 8 – CEO Delegated Authority Expense Report—Third Quarter 2025
Receive and file the CEO Delegated Authority Expense Report for the quarter ended September 30, 2025.
Item 9 – Board Policies
Approve technical and clarifying amendments to the following policies
Item 9A - Post-Retirement Employment Policy
Item 9B – Security Litigation Policy
Item 10 - Temporary Annuity Eligibility
Approve changes to administration of Temporary Annuity option regarding eligibility and terms of payment.
Item 11 - Monthly Report of Investment Activity—September 2025
Receive and file the Monthly Report of Investment Activity for September 2025.
Item 12 - Report of Closed Session Action
Receive and file report of closed session action regarding the purchase or sale of pension fund investments.
Executive Reports
Item 13 – Chief Executive Officer’s Report (No Materials)
Item 14 – Chief Investment Officer’s Report
Receive and file Chief Investment Officer’s Report for the quarter ended September 30, 2025
Item 13 - Chief Benefits Officer’s Report (No Materials)
Administrative Matters
Item 16 - Strategic Vision Plan Report: Discussion Draft
Receive and file draft Strategic Vision Plan, as presented by Mosaic Governance Advisors.
Item 17 - Custodial Bank Agreement
Approve custodial bank services agreement with North Trush for a period of 5 years plus a 5-year option, with expenditures not to exceed $375.00 for each fiscal year, subject to the successful completion of contract negotiations in the judgement of the Chief Executive Officer, on terms consistent with the relevant Request for Proposal and Northern Trust’s proposal in response thereto, and authorize the Chief Executive Officer to execute any necessary documents.
Item 18 – Technology Report—Third Quarter 2025
Receive and file Technology Report for the quarter ended September 30, 2025.
Investment Matters
Item 19 - Investment Manager Compliance and Watch List Report—Third Quarter 2025
Receive and file the Investment Manager Compliance and Watch List Report for quarter ended September 30, 2025
Item 20 - Education: Private Markets Co-Investments
Receive and file presentation from Staff and Ardian regarding SCERS’ co-investment program and future considerations.
Other Matters
Item 21 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 22 - 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 24 – 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.