Sacramento County Employees' Retirement System - SCERS

Board Meeting October 15, 2025
2025-10-15 10:00 (America/Los_Angeles) | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
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 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
Approve 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 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 15 – 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 Northern Trust for a period of 5 years plus a 5-year option, with expenditures not to exceed $375,000 for each fiscal year, subject to the successful completion of contract negotiations in the judgment 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.
Adjournment​

Board Meeting - Audit Committee - November 18, 2025
2025-11-18 10:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Open Session
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Item 3 – Annual Independent Financial Statement Audit
Review the draft audited Financial Statements and the accompanying required draft reports for the fiscal year ended June 30, 2025, as presented by Brown Armstrong. Information only.
Item 4 – Agreed-Upon Procedures Audit Plan
Discussion of the timeline and scope of internal audit plan. Information only.
Item 5 – Comments from Members of the Audit Committee – No Materials
Adjournment​

Board Meeting November 19, 2025
2025-11-19 10:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Item 3 – Minutes of the October 15, 2025 Regular Meeting
Approve the minutes of the October 15, 2025 Regular Meeting
Item 4 – Strategic Vision Plan
Adopt Strategic Vision Plan as presented by Mosaic Governance Advisors.
Item 5 – 2025 Year in Review and 2026 Annual Investment Plan
Adopt 2026 Annual Investment Plan.
Item 6 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 7 – 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 8 – 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: Tidwell v. SCERS, Superior Court of California, County of Sacramento, Case No. 25WM000037.
Item 9 – PUBLIC EMPLOYEE PERFORMANCE EVALUATION—CHIEF EXECUTIVE OFFICER
Public employee performance evaluation pursuant to Government Code Section 54957(b)(1).
Adjournment​

Board Meeting December 10, 2025
2025-12-10 10:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Consent Matters
Item 3 – Minutes of the November 19, 2025 Regular Meeting
Approve the minutes of the November 19, 2025 Regular Meeting
Item 4 – Minutes of the November 18, 2025 Audit Committee Meeting
Approve the minutes of the November 18, 2025 Audit Committee Meeting
Item 5 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 5A – BASDEN, Miah (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5B – BIBI, Gul (Associate Teacher II, Sacramento Employment and Training Agency): Grant a service-connected disability retirement.
Item 5C – CROWLEY, James (Equipment Technician, General Services): Grant a service-connected disability retirement.
Item 5D – DELACRUZ, Gabriel (Deputy Probation Officer, Probation Department): Grant a service-connected disability retirement with corrected effective date.
Item 5E – FURTADO, Bradley (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6 – Ratification of Service Retirement Application Approvals—October and November 2025
Ratify the service retirement applications that were finalized in October and November 2025.
Item 7 – Retirement Board Election
Ratify election results for Board of Retirement Miscellaneous seat for term commencing January 1, 2026.
Item 8 – Board Meeting Calendar 2026
Approve the Board of Retirement Meeting Calendar for 2026.
Item 9 – Board Policies
Approve amendments to the Master Investment Policy Statement regarding transaction costs and rescind the stand-alone Transaction Cost Analysis Policy.
Item 10 – Monthly Report of Investment Activity—October and November 2025
Receive and file the Monthly Report of Investment Activity for October and November 2025.
Item 11 – Portfolio Allocation and Rebalancing Report—Third Quarter 2025
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended September 30, 2025.
Executive Reports
Item 12. Chief Executive Officer’s Report (no action requested)
Item 13. Chief Investment Officer’s Report (no action requested)
Item 14. Chief Benefits Officer’s Report (no action requested)
Administrative Matters
Item 15 – Actuarial Valuation and Review and GASB 67 Report as of June 30, 2025
Adopt the 2026-27 fiscal year employer and member contribution rates recommended by Segal; receive and file the Actuarial Valuation and Review as of June 30, 2025; and receive and file the Governmental Accounting Standards Board Statement 67 Actuarial Valuation as of June 30, 2025.
Item 16 – Annual Comprehensive Financial Report for Fiscal Year Ended June 30, 2025
Receive and file the SCERS Annual Comprehensive Financial Report (ACFR) based on the audited financial statements and auditor reports as of and for the fiscal year ended June 30, 2025, issued by SCERS’ independent auditor, Brown Armstrong Accountancy Corporation (Brown Armstrong).
Item 17 – Education: Business Resumption
Receive and file report on SCERS’ business resumption and disaster preparedness efforts.
Item 18 – Procurement and Contracting Policy Discussion Draft
Receive and file draft of proposed new Procurement and Contracting Policy.
Investment Matters
Item 19 – Total Fund Investment Performance Review Report—Third Quarter 2025
Receive and file the total fund investment performance report for the quarter ended September 30, 2025, as presented by Verus.
Item 20 – Investment Performance Report—Alternative Assets
Receive and file the Investment Performance Report for the quarter ended September 30, 2025 for the Absolute Return portfolio, and the quarter ended June 30, 2025 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater.
Item 21 – Investment Performance Report—Real Estate
Receive and file the Investment Performance Report on real estate investments for the quarter ended September 30, 2025, as presented by Townsend Group.
Other Matters
Item 22. Comments from Members of the Board of Retirement
Closed Session
Item 23 – 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 5, above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff.
Adjournment​

Board Meeting January 21, 2026
2026-01-21 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Swearing-In Ceremony
Item 3 – Public Comment – No Materials
Consent Matters
Item 4 – Minutes of the December 10, 2025 Regular Meeting
Approve the minutes of the December 10, 2025 Regular Meeting
Item 5 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 5A – ISAIS, Luciano (Sanitation District Maintenance and Operations Assistant, Sacramento Area Sewer District): Grant a service-connected disability retirement.
Item 5B – DIAZ-MENDOZA, Jose (Deputy Probation Officer, Probation Department): Grant a service-connected disability retirement.
Item 6 – Ratification of Service Retirement Application Approvals—December 2025
Ratify the service retirement applications that were finalized in December 2025.
Item 7 – State Association of County Retirement Systems Legislative Update—January 2026
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for January 2026.
Item 8 – Board Policies
Reaffirm Ratification of Retirement Applications Policy with no amendments.
Item 9 – Annual Discharge of Uncollectible Receivables
Approve the discharge of $142,888 of uncollectible receivables.
Item 10 – Annual Education Compliance Report
Receive and file the annual Board Education Compliance Report for 2025.
Item 11 – Monthly Report of Investment Activity—December 2025
Receive and file the Monthly Report of Investment Activity for December 2025.
Item 12 – CEO Delegated Authority Expense Report—Fourth Quarter 2025
Receive and file the CEO Delegated Authority Expense Report for quarter ended December 31, 2025.
Executive Reports
Item 13. Chief Executive Officer’s Report (no action requested)
Item 14 – Chief Investment Officer’s Report
Receive and file CIO Report for the quarter ended December 31, 2025.
Item 15. Chief Benefits Officer’s Report (no action requested)
Administrative Matters
Item 16 – CEM Benchmarking Survey
Receive and file report on CEM Benchmarking survey results.
Item 17 – Technology Report—Fourth Quarter 2025
Receive and file the Technology Report for the quarter ended December 31, 2025.
Item 18 – Procurement and Contracting Policy
Approve new Procurement and Contracting Policy.
Item 19 – Consultant/Service Provider Contract Timelines
Receive and file report on contract terms expiring in 2026 for key consultants and service providers.
Item 20 – Segal Contract Amendment
Authorize the Chief Executive Officer to amend the contract with Segal to support a commercial banking procurement process, with expenditures for the additional scope of work not to exceed $70,000.
Item 21 – Position Requests
Approve the following position changes for the 2026-27 fiscal year: add Accountant (1.0 FTE) and Information Technology System Support Specialist (1.0 FTE); and, reclassify Senior Office Specialist-Confidential (1.0 FTE) to Executive Secretary (1.0 FTE).
Investment Matters
Item 22 – Ad Hoc Investment Consultant Search Committee
Discuss establishment of Ad Hoc Investment Consultant Search Committee.
Item 23 – Investment Manager Compliance and Watch List Report—Fourth Quarter 2025
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended December 31, 2025.
Item 24 – Education: Real Estate
Receive and file educational presentation on affordable housing considerations in the Real Estate asset class, as presented by Townsend Group.
Other Matters
Item 25. Comments from Members of the Board of Retirement
Closed Session
Item 26 – 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 27 – 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 5, above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff.
Adjournment​

Board Meeting February 18, 2026
2026-02-18 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Consent Matters
Item 3 – Minutes of the January 21, 2026 Regular Meeting
Approve the minutes of the January 21, 2026 Regular Meeting
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – MADU, Nneka (Mental Health Worker, Sacramento County Health Department): Grant a service-connected disability retirement.
Item 5 – Ratification of Service Retirement Application Approvals—January 2026
Ratify the service retirement applications that were finalized in January 2026.
Item 6 – State Association of County Retirement Systems Legislative Update—February 2026
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for February 2026.
Item 7 – SACRS Board of Directors Nominations
Approve nomination of Chris Giboney to serve on SACRS Board of Directors.
Item 8 – Annual Cost-of-Living Adjustment (COLA)
Approve COLA adjustments effective April 1, 2026.
Item 9 – Conflict of Interest Code
Approve amendments to the Conflict of Interest Code.
Item 10 – Portfolio Allocation and Rebalancing Report—Fourth Quarter 2025
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended December 31, 2025.
Item 11 – Monthly Report of Investment Activity—January 2026
Receive and file the Monthly Report of Investment Activity for January 2026.
Executive Reports
Item 12 – Chief Executive Officer’s Report (no action requested)
Item 13 – Chief Investment Officer’s Report (no action requested)
Item 14 – Chief Benefits Officer’s Report
Receive and file CBO Report for the quarter ended December 31, 2025.
Administrative Matters
Item 15 – Strategic Management Plan
Receive and file the Strategic Management Plan Annual Report for 2025 and Strategic Management Plan for 2026.
Investment Matters
Item 16 – Total Fund Investment Performance Review Report—Fourth Quarter 2025
Receive and file the total fund investment performance report for the quarter ended December 31, 2025, as presented by Verus.
Item 17 – Investment Performance Report Structure
Discuss potential changes to quarterly total fund investment performance report structure.
Other Matters
Item 18. Comments from Members of the Board of Retirement
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 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: Tidwell v. SCERS, Superior Court of California, County of Sacramento, Case No. 25WM000037.
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​

Board Meeting - Audit Committee - March 16, 2026
2026-03-16 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Item 3 – Review of RFP Responses
Discussion of RFP responses and finalist recommendations for Independent Financial Statement Auditor.
Item 4 – Comments from Members of the Audit Committee
Adjournment​

Board Meeting March 18, 2026
2026-03-18 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Consent Matters
Item 3 – Minutes of the February 18, 2026 Regular Meeting
Approve the minutes of the February 18, 2026 Regular Meeting
Item 4 – Ratification of Service Retirement Application Approvals—February 2026
Ratify the service retirement applications that were finalized in February 2026.
Item 5 – State Association of County Retirement Systems Legislative Update—March 2026
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for March 2026.
Item 6 – Monthly Report of Investment Activity—February 2026
Receive and file the Monthly Report of Investment Activity for February 2026.
Item 7 – Annual Investment Operations Report
Receive and file the Annual Investment Operations Report for 2025.
Item 8 – GASB 68 Report
Receive and file Governmental Accounting Standards Board Statement No. 68 (GASB 68) Actuarial Valuation as of June 30, 2025, for employer reporting as of June 30, 2025, for employer report .
Executive Reports
Item 9 – Chief Executive Officer’s Report (no action requested)
Item 10 – Chief Investment Officer’s Report (no action requested)
Item 11 – Chief Benefits Officer’s Report (no action requested)
Benefits Matters
Item 12 – Education: Post-Retirement Employment
Receive and file presentation on post-retirement employment laws and policies.
Administrative Matters
Item 13 – Legislative Update
Discuss proposal to increase Board of Retirement meeting per diem (AB 1619).
Item 14 – Board Education Policy
Approve amendments to the Board Education Policy.
Item 15 – 2026-27 Budget Preview
Receive and file presentation regarding anticipated changes in SCERS’ 2026-27 annual budget.
Investment Matters
Item 16 – Manager Recommendation—Global Equity
Approve an investment of approximately $450 million with Man Numeric (Global Core ex-US Strategy) subject to the successful completion of contract negotiations in the judgement of the Chief Executive Officer, and authorize the Chief Executive Officer to execute necessary documents; and, authorize Staff to determine the most effective method for transitioning assets and execute any necessary documents to effectuate the transition of assets.
Item 17 – Investment Performance Report—Alternative Assets
Receive and file the Investment Performance Report for the quarter ended December 31, 2025 for the Absolute Return portfolio, and the quarter ended September 30, 2025 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater, LLC.
Item 18 – Investment Performance Report—Real Estate
Receive and file the Investment Performance Report on real estate investments for the quarter ended December 31, 2025 as presented by Townsend Group.
Other Matters
Item 19. Comments from Members of the Board of Retirement
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.
Adjournment​

Board Meeting April 15, 2026
2026-04-15 10:00 - 12:00 | Board of Supervisors Chambers, 700 H Street, Suite 1450, Sacramento, CA, 95814, United States
Please note the location change.
This meeting will take place at the Board of Supervisors Chambers at 700 H Street.
If you wish to watch the meeting, you can connect using Zoom here. You can only address the Board in person.
Agenda
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Consent Matters
Item 3 – Minutes of the March 18, 2026 Regular Meeting
Approve the minutes of the March 18, 2026 Regular Meeting.
Item 4 – Minutes of the March 16, 2026 Audit Committee Meeting
Approve the minutes of the March 16, 2026 Audit Committee Meeting.
Item 5 – Disability Retirement Applications
Adopt Proposed Decision of Administrative Law Judge for the following Disability Retirement Applications:
Item 5A – MCGOVERN, Amber (Human Services Specialist II, Department of Human Assistance): Deny a non-service-connected disability retirement.
Item 6 – Ratification of Service Retirement Application Approvals—March 2026
Ratify the service retirement applications that were finalized in March 2026.
Item 7 – State Association of County Retirement Systems (SACRS) Information
Item 7A – Receive and file the SACRS Legislative Update for April 2026.
Item 7B – Approve nominations for SACRS Board of Directors Elections.
Item 8 – CEO Delegated Authority Expense Report—First Quarter 2026
Receive and file the CEO Delegated Authority Expense Report for the quarter ended March 31, 2026.
Item 9 – Monthly Report of Investment Activity—March 2026
Receive and file the Monthly Report of Investment Activity for March 2026.
Executive Reports
Item 10 – Chief Executive Officer’s Report (no action requested)
Item 11 – Chief Investment Officer’s Report
Receive and file CIO Report for the quarter ended March 31, 2026.
Item 12 – Chief Benefits Officer’s Report (no action requested)
Benefits Matters
Item 13 – Marital Dissolution Policy
Approve amendments to the Dissolution of Marriage Documents Policy, rename to Marital Dissolution Policy, and recommend Board of Supervisors adopt Government Code section 31780.2.
Item 14 – Education: Social Security Integration
Receive and file presentation on history and recent events related to Social Security integration with public pension benefits.
Administrative Matters
Item 15 – Technology Report—First Quarter 2026
Receive and file the Technology Report for the quarter ended March 31, 2026.
Item 16 – Independent Financial Statement Auditor
Authorize the Chief Executive Officer to execute a contract with Crowe LLP for independent financial statement audit services for a five-year term in an amount not to exceed $390,000, as recommended by the Audit Committee.
Investment Matters
Item 17 – Investment Manager Compliance and Watch List Report—First Quarter 2026
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended March 31, 2026.
Item 18 – Education: Overlay Program and Portfolio Rebalancing
Receive and file the Overlay Program and Portfolio Rebalancing presentations by Staff and State Street Investment Management.
Other Matters
Item 19 – Comments from Members of the Board of Retirement
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 5, above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff.
Item 22 – PURCHASE OR SALE OF PENSION FUND INVESTMENTS
Pursuant to Government Code Section 54956.81, this session shall be closed to consider the purchase or sale of particular, specific pension fund investments.
Adjournment​

Board Meeting May 20, 2026
2026-05-20 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
If you wish to watch the meeting, you can connect using Zoom here. You can only address the Board in person.
