Board Meeting August 21, 2024
2024-08-21 10:00 (America/Los_Angeles) | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Minutes
Open Session
Item 1 – Swearing-In Ceremony – No Materials
Item 2 – Call to Order / Roll Call – No Materials
Item 3 – Election of Board Officers – No Materials
Item 4 – Public Comment – No Materials
Consent Matters
Item 5 – Minutes of the June 20, 2024 Regular Meeting
Approve the minutes of the June 20, 2024 Regular Meeting.
Item 6 – Minutes of the June 13, 2024 Audit Committee Meeting
Approve the minutes of the June 13, 2024 Audit Committee Meeting.
Item 7 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 7A – ANDERS, Jamie (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 7B – BROOKS, Gwendolyn (Head Start Teacher, Sacramento Employment and Training Agency): Grant a non-service-connected disability retirement. (confidential)
Item 7C – FRENCH, Tara-Marie (Utility Billing Services Representative II, Department of Finance): Grant a service-connected disability retirement. (confidential)
Item 7D – GASTINELL, Judy (Human Services Specialist, Department of Human Assistance): Grant a service-connected disability retirement. (confidential)
Item 7E – MARIN, Noe (Sanitation District Maintenance and Operations Technician, Sacramento Area Sewer District): Grant a service-connected disability retirement. (confidential)
Item 7F – PREHODA, Brian (Sheriff’s Sergeant, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 7G – SCRANTON, Donna (Mental Health Counselor, Health and Human Services): Grant a service-connected disability retirement. (confidential)
Item 7H – VAUGHN, Jacqueline (Sheriff Records Officer I, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 7I – WATKINS, Kaley (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 8 – Ratification of Service Retirement Application Approvals—June and July 2024
Ratify the service retirement applications that were finalized in June and July 2024.
Item 9 – State Association of County Retirement Systems Legislative Update—August 2024
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for August 2024.
Item 10 – CEO Delegated Authority Expense Report—Second Quarter 2024
Receive and file the CEO Delegated Authority Expense Report for the quarter ended June 30, 2024.
Item 11 – Employer Contribution Prepayments
Receive and file report confirming County contribution prepayment for fiscal year 2024-25, SacSewer contribution prepayment for fiscal year 2024-25, and Metro Fire contribution prepayment for 2025-26.
Item 12 – Portfolio Allocation and Rebalancing Report—Second Quarter 2024
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended June 30, 2024.
Item 13 – Investment Manager Compliance and Watch List Report—Second Quarter 2024
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended June 30, 2024.
Item 14 – 2023 Alternative Asset Fee and Expense Report
Receive and file the 2023 Alternative Asset Fee and Expense Report.
Item 15 – Monthly Report of Investment Activity—June and July 2024
Receive and file the Monthly Report of Investment Activity for June and July 2024.
Executive Reports
Item 16 – Chief Executive Officer’s Report – No Materials
Item 17 – Chief Investment Officer’s Report – No Materials
Item 18 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 19 – Sacramento Area Sewer District
Approve Sacramento Area Sewer District’s request to join SCERS as a new employer, effective December 15, 2024; authorize the Chief Executive Officer to execute a three-party agreement with Sacramento County and the District regarding the allocation of pension liabilities and funding obligations; and, adopt contribution rates for the District for December 15, 2024-June 30, 2025, as recommended by Segal.
Item 20 – Strategic Management Plan Report—Second Quarter 2024
Receive and file an update on activities and progress related to the 2024 Strategic Management Plan for the quarter ended June 30, 2024.
Item 21 – Technology Report—Second Quarter 2024
Receive and file the Technology Report for the quarter ended June 30, 2024.
Investment Matters
Item 22 – Education: Strategic Asset Allocation
Receive and file education presentation from Ian Toner, Verus’ Chief Investment Officer, on Strategic Asset Allocation.
Item 23 – Investment Oversight Initiative
Receive and file presentation on strengthening SCERS’ oversight of investment portfolio.
Item 24 – Salary Resolution Amendment
Approve the following positional changes: Reallocate 1.0 FTE Paralegal and 1.0 FTE Office Specialist to 1.0 FTE Retirement Investment Officer.
Item 25 – Total Fund Investment Performance Report—Second Quarter 2024
Receive and file Total Fund Investment Performance Report for the quarter ended June 30, 2024, as presented by Verus.
Other Matters
Item 26 – Comments from Members of the Board of Retirement – No Materials
Benefits Matters
Item 27 – Felony Forfeiture Review
Adopt Staff’s recommendations for the following Felony Forfeiture matter:
Item 27A CHAO, Seng (Victim Witness Claims Assistant, District Attorney’s Office): Enforce the felony forfeiture statutes against Member’s retirement benefits.(confidential)
Closed Session
Item 28 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION (confidential)
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 29 – 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 7, above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff.
Adjournment​

Board Meeting September 18, 2024
2024-09-18 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
Consent Matters
Item 3 – Minutes of the August 21, 2024 Regular Meeting
Approve the minutes of the August 21, 2024 Regular Meeting.
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – GRIEM, Joshua (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 4B – JAMES, Marcus (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 4C – MARSHALL-LEE, Richard (Assistant Probation Officer, Probation Department): Grant a service-connected disability retirement. (confidential)
Item 4D – TEMMERMAN, Frank (Judicial Services Officer, Sacramento County Courts): Grant a non-service-connected disability retirement. (confidential)
Item 4E – YANG, Leesai (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement. (confidential)
Item 5 – Ratification of Service Retirement Application Approvals—August 2024
Ratify the service retirement applications that were finalized in August 2024.
Item 6 – State Association of County Retirement Systems Legislative Update—September 2024
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for September 2024.
Item 7 – Board Policies
Approve amendments to or reaffirm the following policies:
Item 7A – Privacy and Confidentiality Policy
Item 7B – Protection of Individual Records Policy
Item 8 – Monthly Report of Investment Activity—August 2024
Receive and file the Monthly Report of Investment Activity for August 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
Investment Matters
Item 12 – Enterprise Risk Tolerance Survey
Receive and file results of Enterprise Risk Tolerance Survey, as presented by Verus.
Item 13 – Liquidity Study
Receive and file the liquidity study and cash-flow profile of SCERS’ portfolio, as presented by Verus.
Item 14 – Quarterly Investment Performance Report—Alternative Assets
Receive and file the performance report for the quarter ended June 30, 2024 for the Absolute Return portfolio, and the quarter ended March 31, 2024 for the Private Equity, Private Credit, Real Assets, and Opportunities portfolios, as presented by Cliffwater, LLC.
Item 15 – Quarterly Investment Performance Report—Real Estate
Receive and file the performance report on real estate investments for the quarter ended June 30, 2024, as presented by Townsend Group.
Other Matters
Item 16 – Comments from Members of the Board of Retirement – No Materials
Benefits Matters – Time Certain: 1:00 p.m.
Item 17 – Administrative Appeal
Adopt Staff’s recommendation for the following matter:
Item 17A CAMPOS, Joyce (former Office Assistant II, Department of Human Assistance): Affirm the denial of Appellant’s request to apply for disability retirement benefits.
Closed Session
Item 18 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION (confidential)
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 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.
Adjournment​

Board Meeting October 16, 2024
2024-10-16 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
Consent Matters
Item 3 – Minutes of the September 18, 2024 Regular Meeting
Approve the minutes of the September 18, 2024 Regular Meeting.
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – DOORN, Candice (Associate Teacher, Sacramento Employment Training Agency); Grant a service-connected disability retirement. (confidential)
Item 4B – IOSIF, Ileana (Deputy Sheriff, Sheriff’s Department); Grant a service-connected disability retirement. (confidential)
Item 5 – Ratification of Service Retirement Application Approvals—September 2024
Ratify the service retirement applications that were finalized in September 2024.
Item 6 – CEO Delegated Authority Expense Report—Third Quarter 2024
Receive and file the Quarterly CEO Delegated Authority Expense Report for the quarter ended September 30, 2024.
Item 7 – State Association of County Retirement Systems
Item 7A – Legislative Update—October 2024
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for October 2024.
Item 7B – 2025 Legislative Proposals
Recommendation to support SACRS legislative proposals for 2025.
Item 8 – Board Policies
Approve amendments to or reaffirm the following policies:
Item 8A – Board Education Policy
Item 9 – Monthly Report of Investment Activity—September 2024
Receive and file the Monthly Report of Investment Activity for September 2024.
Executive Reports
Item 10 – Chief Executive Officer’s Report – No Materials
Item 11 – Chief Investment Officer’s Report – No Materials
Item 12 – Chief Benefits Officer’s Report – No Materials
Benefit Matters
Item 13 – Service Purchase Policy
Approve new Service Purchase Policy that clarifies existing practices and procedures.
Item 14 – Education: Disability Retirement
Receive and file presentation on the disability retirement process.
Administrative Matters
Item 15 – Technology Report—Third Quarter 2024
Receive and file Technology Report for the quarter ended September 30, 2024.
Investment Matters
Item 16 – Investment Manager Compliance and Watch List Report—Third Quarter 2024
Receive and file the Investment Manager Compliance and Watch List Report for quarter ended September 30, 2024.
Item 17 – Education: Cryptocurrency
Receive and file presentation regarding cryptocurrency, as presented by Verus.
Item 18 – Education: Portfolio Analytics
Receive and file presentation on portfolio analytics software implementation.
Other Matters
Item 19 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 20 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION (confidential)
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 – CONFERENCE WITH LEGAL COUNSEL—INITIATION OF LITIGATION (confidential)
Pursuant to Government Code Section 54956.9(d)(4), this session shall be closed for the Board to discuss whether to initiate litigation in one (1) case.
Item 22 – 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.
Adjournment​

Board Meeting - Audit Committee - November 19, 2024
2024-11-19 11:00 - 2026-03-04 11:00 | 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
Approve the draft audited Financial Statements and the following accompanying required draft reports for the fiscal year ended June 30, 2024, as presented by Brown Armstrong.
Item 4 – Discussion with Brown Armstrong and Audit Committee Members
Item 5 – Risk Assessment Project Overview
Receive and file Risk Assessment Project Overview, as presented by Larry Jensen, Audit & Risk Management Services.
Adjournment​

Board Meeting November 20, 2024
2024-11-20 10:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Open Session
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Item 3 – 2024 Year in Review and 2025 Strategic Management Plan
Adopt the 2025 Strategic Management Plan.
Item 4 – 2024 Year in Review and 2025 Annual Investment Plan
Adopt the 2025 Annual Investment Plan.
Item 5 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 6 – CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION (confidential)
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 7 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION (confidential)
Pursuant to Government Code Section 54956.9(d)(4), this session shall be closed for the Board to discuss amicus briefing in formally initiated litigation to which SCERS is not a party: Los Angeles County Employees’ Retirement Association v. County of Los Angeles, et al., California Supreme Court Case No. S286264.
Item 8 – PUBLIC EMPLOYEE PERFORMANCE EVALUATION—CHIEF EXECUTIVE OFFICER (confidential)
Public employee performance evaluation pursuant to Government Code Section 54957(b)(1).
Adjournment​

Board Meeting December 11, 2024
2024-12-11 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
Consent Matters
Item 3 – Minutes of the October 16, 2024 Regular Meeting
Approve the minutes of the October 16, 2024 Regular Meeting.
Item 4 – Minutes of the November 19, 2024 Audit Committee Meeting
Recommendation to approve the minutes of the November 14, 2024 Audit Committee Meeting.
Item 5 – Minutes of the November 20, 2024 Regular Meeting
Recommendation to approve the minutes of the November 15, 2024 Regular Meeting.
Item 6 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 6A – BALLANTYNE, George (Collection Equipment Operator, Waste Management and Recycling): Grant a service-connected disability retirement.
Item 6B – CERVANTES, Irma (Custodian Level 2, Airports): Grant a service-connected disability retirement.
Item 6C – FUSILIER, Angela (Human Services Social Worker – Master’s Degree, Child, Family and Adult Services): Grant a service-connected disability retirement.
Item 6D – POWE, Dexter (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6E – SLONEKER, Brad (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6F – TELL, Lionel (Senior Highway Maintenance Worker, Airports): Grant a service-connected disability retirement.
Item 6G – VALIENTE, Ambar (Head Start Intervention Specialist, Sacramento Employment Training Agency): Grant a service-connected disability retirement.
Item 6H – WALSH, Malika (Mental Health Counselor, Department of Behavioral Health): Grant a service-connected disability retirement.
Item 7 – Ratification of Service Retirement Application Approvals—October and November 2024
Ratify the Service Retirement Application Approvals for October and November 2024.
Item 8 – Board Meeting Calendar 2025
Approve the Retirement Board Meeting Calendar for 2025.
Item 9 – Salary Resolution Amendment
Approve the following positional change for 2025-26: Reallocate 1.0 FTE Information Technology Systems Support Specialist to 1.0 FTE Information Technology (IT) Infrastructure Analyst II.
Item 10 – Monthly Report of Investment Activity—October and November 2024
Receive and file the Monthly Report of Investment Activity for October and November 2024.
Item 11 – Portfolio Allocation and Rebalancing Report—Third Quarter 2024
Recommendation to receive and file the Portfolio Allocation and Rebalancing Report for quarter ended September 30, 2024
Executive Reports
Item 12 – Chief Executive Officer’s Report – No Materials
Item 13 – Chief Investment Officer’s Report – No Materials
Item 14 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 15 – Actuarial Valuation and Review and GASB 67 Report as of June 30, 2024
Adopt the 2025-26 fiscal year employer and member contribution rates recommended by Segal; receive and file the Actuarial Valuation and Review as of June 30, 2024; and receive and file the Governmental Accounting Standards Board Statement 68 Actuarial Valuation as of June 30, 2024.
Item 16 – Annual Comprehensive Financial Report for Fiscal Year Ended June 30, 2024
Receive and file the SCERS Annual Comprehensive Financial Report (the ACFR) based on the audited financial statements and auditor reports as of and for the fiscal year ended June 30, 2024, issued by SCERS’ independent auditor, Brown Armstrong Accountancy Corporation (Brown Armstrong).
Investment Matters
Item 17 – ALM Study
Receive and file presentation regarding Asset Liability Modeling study.
Item 18 – Total Fund Investment Performance Report—Third Quarter 2024
Receive and file the performance report for the quarter ended September 30, 2024, as presented by Verus.
Item 19 – Quarterly Investment Performance Report—Alternative Assets
Receive and file the performance report for the periods ending September 30, 2024 for the Absolute Return portfolio, and the periods ending June 30, 2024 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater.
Item 20 – Quarterly Investment Performance Report—Real Estate
Receive and file the performance report on real estate investments for the quarter ended September 30, 2024, as presented by Townsend Group.
Other Matters
Item 21 – Comments from Members of the Board of Retirement – No Materials
Benefit Matters (Time Certain: 1:00 P.M.)
Item 22 – Administrative Appeal
Adopt Staff’s recommendation for the following matter:
Item 22A – Tidwell, Walter (former Criminal Investigator, District Attorney’s Office): Affirm the denial of Appellant’s request regarding community property.
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 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION
Pursuant to Government Code Section 54956.9(d)(4), this session shall be closed for the Board to discuss potential litigation to which SCERS may be a party (1 case)
Item 25 – 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 6 above. This item will be withdrawn in whole or in part if approved on Consent as recommended by staff
Item 26 – PUBLIC EMPLOYEE PERFORMANCE EVALUATION—CHIEF EXECUTIVE OFFICER
Public employee performance evaluation pursuant to Government Code Section 54957(b)(1).
Adjournment​

Board Meeting January 15, 2025
2025-01-15 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 – Swearing-In Ceremony – No Materials
Item 3 – Public Comment – No Materials
Consent Matters
Item 4 – Minutes of the December 11, 2024 Regular Meeting
Approve the minutes of the December 11, 2024 Regular Meeting.
Item 5 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 5A – COTA, David (Lead Electrician, Regional Sanitation District): Grant a service-connected disability retirement.
Item 5B – CROUCH, Kenneth (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5C – IOSIF, Ileana (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 5D – KELLY, Marisa (Human Service Supervisor Master’s Degree, Department of Child, Family, and Adult Services): Grant a service-connected disability retirement.
Item 5E – WEST, Mark (Stormwater Utility Worker, Water Resources): Grant a service-connected disability retirement.
Item 6 – Ratification of Service Retirement Application Approvals—December 2024
Ratify the service retirement applications that were finalized in December 2024.
Item 7 – Disability Retirement Procedures
Re-affirm the Disability Retirement Procedures with minor amendments.
Item 8 – Annual Board Education Compliance Report
Receive and file the annual Board Education Compliance Report for 2024.
Item 9 – CEO Delegated Authority Expense Report—Fourth Quarter 2024
Receive and file the CEO Delegated Authority Expense Report for quarter ended December 31, 2024.
Item 10 – Monthly Report of Investment Activity—December 2024
Receive and file the Monthly Report of Investment Activity for December 2024.
Executive Reports
Item 11 – Chief Executive Officer’s Report – No Materials
Item 12 – Chief Investment Officer’s Report – No Materials
Item 13 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 14 – Annual Discharge of Uncollectible Receivables
Approve the discharge of $98,334.25 of uncollectible receivables.
Item 15 – CEO Delegated Authority Policy for Expenses
Approve amendments to CEO Delegated Authority Policy for Expenses.
Item 16 – Media and Legislative Relations Policy
Approve new Media and Legislative Relations Policy.
Item 17 – Risk Assessment Project
Receive and file Risk Assessment Project Overview, as presented by Larry Jensen, Audit & Risk Management Services.
Item 18 – Technology Report—Fourth Quarter 2024
Receive and file the Technology Report for the quarter ended December 31, 2024.
Investment Matters
Item 19 – Investment Manager Compliance and Watch List Report—Fourth Quarter 2024
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended December 31, 2024.
Item 20 – Consultant/Service Provider Contract Timelines
Receive and file report on contract terms for consultant and service provider relationships.
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 23 – 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 19, 2025
2025-02-19 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
Consent Matters
Item 3 – Minutes of the January 15, 2025 Regular Meeting
Approve the minutes of the January 15, 2025 Regular Meeting.
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – BELL, Brian (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 4B – FOUNTAIN, Thomas (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 4C – MORTON, Michael (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 4D – STEARNS, Burk (Lieutenant Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 4E – UTTERBACK, Steven (Heavy Equipment Technician, General Services): Grant a service-connected disability retirement.
Item 5 – Ratification of Service Retirement Application Approvals—January 2025
Ratify the service retirement applications that were finalized in January 2025.
Item 6 – State Association of County Retirement Systems Legislative Update—February 2025
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for February 2025.
Item 7 – Annual Cost-of-Living Adjustment (COLA)
Approve COLA adjustments effective April 1, 2025.
Item 8 – Portfolio Allocation and Rebalancing Report—Fourth Quarter 2024
Receive and file the Portfolio Allocation and Rebalancing Report for quarter ended December 31, 2024.
Item 9 – Monthly Report of Investment Activity—January 2025
Receive and file the Monthly Report of Investment Activity for January 2025.
Executive Reports
Item 10 – Chief Executive Officer’s Report – No Materials
Item 11 – Chief Investment Officer’s Report – No Materials
Item 12 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 13 – Technology Services
Authorize the Chief Executive Officer to engage QualApps for technology development services in an amount not to exceed $280,000 and execute all necessary documents.
Item 14 – Strategic Management Plan Annual Report
Receive and file the Strategic Management Plan Annual Report for 2024.
Item 15 – Strategic Vision Plan Project Update
Receive and file update on Strategic Vision Plan project.
Investment Matters
Item 16 – Education: Private Credit
Receive and file presentation on private credit investing by Ares Management.
Item 17 – ALM Study
Receive and file the Asset Liability Modeling (ALM) Study presentation by SCERS’ staff and general investment consultant, Verus.
Item 18 – Consultant/Service Provider Contract Timelines—Updated
Receive and file the updated report on contract terms for consultant and service provider relationships.
Item 19 – Total Fund Investment Performance Review Report—Fourth Quarter 2024
Receive and file the performance report for the quarter ended December 31, 2024, as presented by Verus.
Other Matters
Item 20 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 21 – 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 22 – 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 March 19, 2025
2025-03-19 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
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​

Board Meeting April 16, 2025
2025-04-16 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
Consent Matters
Item 3 – Minutes of the March 19, 2025 Regular Meeting
Approve the minutes of the March 19, 2025 Regular Meeting
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – CLEVERINGA, Ryan (Deputy Sheriff, Sheriff’s Department): Grant a service-connected
disability retirement.
Item 4B – FRIEL, Edward (Water Quality Control Systems Technician, Department of Water
Resources): Grant a service-connected disability retirement.
Item 4C – GOBRON, Melinda (Deputy Sheriff, Sheriff’s Department): Grant a service-connected
disability retirement.
Item 4D – SAMUEL, Romeal (Human Services Program Planner, Behavioral Health Services):
Grant a service-connected disability retirement.
Item 4E – STALLWORTH, Kalili (Assistant Probation Officer, Probation Department): Grant a
service-connected disability retirement.
Item 5 – Ratification of Service Retirement Application Approvals—March 2025
Ratify the service retirement applications that were finalized in March 2025.
Item 6 – State Association of County Retirement Systems (SACRS) Information
Item 6A – Legislative Update—April 2025: Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for April 2025.
Item 6B – Board of Directors Election: Approve the election of officers for the 2025-26 State Association of County Retirement Systems (SACRS) Board of Directors Election, as recommended by the SACRS Nominating Committee.
Item 6C – Voting Delegates: Approve SCERS voting delegates for State Association of County Retirement Systems (SACRS) business meetings through 2026.
Item 7 – CEO Delegated Authority Expense Report—First Quarter 2025
Receive and file the CEO Delegated Authority Expense Report for the quarter ended March 31, 2025.
Item 8 – Monthly Report of Investment Activity—March 2025
Receive and file the Monthly Report of Investment Activity for March 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 – Annual Budget for Fiscal Year 2025-26
Approve an annual budget of approximately $23.4 million and 75 positions for fiscal year 2025-26.
Item 13 – Strategic Management Plan Report—First Quarter 2025
Receive and file Strategic Management Plan Report for the quarter ended March 31, 2025.
Item 14 – Technology Report—First Quarter 2025
Receive and file Technology Report for the quarter ended March 31, 2025.
Investment Matters
Item 15 – Investment Manager Compliance and Watch List Report—First Quarter 2025
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended March 31, 2025.
Item 16 – Education: Governance Protocols
Receive and file presentation on governance protocols regarding staff delegation.
Item 17 – Education: Later-Life Private Equity Funds
Receive and file presentation on exit considerations for later-life private equity funds, as presented by Staff and Cliffwater.
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 – 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 May 21, 2025
2025-05-21 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
Consent Matters
Item 3 – Minutes of the April 16, 2025 Regular Meeting
Approve the minutes of the April 16, 2025 Regular Meeting
Item 4 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 4A – HUNTER, Alex (Collection Equipment Operator II, Sacramento Waste Management and Recycling Division): Grant a service-connected disability retirement.
Item 4B – SAMUEL, Romeal (Human Services Program Planner, Behavioral Health Services):
Grant a service-connected disability retirement with corrected effective date.
Item 5 – Ratification of Service Retirement Application Approvals—April 2025
Ratify the service retirement applications that were finalized in April 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 May 2025.
Item 7 – Employer Liability Policies
Approve minor amendments to Employer Liability Policies: Declining Employer Payroll Policy and Terminating Employer Policy.
Item 8 – Portfolio Allocation and Rebalancing Report––First Quarter 2025
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended March 31, 2025.
Item 9 – Monthly Report of Investment Activity—April 2025
Receive and file the Monthly Report of Investment Activity for April 2025.
Executive Reports
Item 10 – Chief Executive Officer’s Report – No Materials
Item 11 – Chief Investment Officer’s Report – No Materials
Item 12 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 13 – Sacramento Area Sewer District–Replacement Benefits Plan Memorandum of Understanding
Approve Memorandum of Understanding between SCERS and Sacramento Area Sewer District (SacSewer) to coordinate a Replacement Benefits Plan for members subject to IRC 415 limits.
Item 14 – Actuarial Funding Risk Assessment Report
Receive and file the Actuarial Funding Risk Assessment Report, as presented by Segal.
Item 15 – Legal Services Agreement
Authorize the Chief Executive Officer to extend the legal services agreement with Nossaman LLP for a three-year term through June 30, 2028, in an amount not to exceed a total of $2,100,000
Benefits Matters
Item 16 – Final Compensation Review Policy—Discussion Draft
Receive and file proposed amendments to the Final Compensation Review Policy discussion draft.
Investment Matters
Item 17 – Asset Class Restructuring and Implementation: Global Equity
Approve revised structure and implementation plan for the Global Equity asset class.
Item 18 – Asset Class Restructuring and Implementation: Credit
Approve revised structure and implementation plan for the Credit asset class.
Item 19 – Total Fund Investment Performance Review Report—First Quarter 2025
Receive and file the performance report for the quarter ended March 31, 2025, as presented by Verus.
Other Matters
Item 20 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 21 – 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 22 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION
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 23 – 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.
Item 24 – 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 - Audit Committee - June 17, 2025
2025-06-17 10:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
Agenda
Open Session
Item 1 – Call to Order / Roll Call – No Materials
Item 2 – Public Comment – No Materials
Item 3 – Annual Independent Financial Statement Audit Timeline
Discussion of the timeline related to SCERS’ Annual Independent Financial Statement Audit as of and for the fiscal year ended June 30, 2025, as presented by Brown Armstrong Accountancy Corporation. Information only.
Item 4 – Internal Audit Program
Discussion of internal audit program timeline, scope of work, and request for proposals for audit services, as presented by Larry Jensen, Audit and Risk Management Services. Information only.
Item 5 – Comments from Members of the Audit Committee
Adjournment​

Board Meeting June 18, 2025
2025-06-18 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
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.
Adjournment​

Special Board Meeting July 30, 2025
2025-07-30 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 – Strategic Vision Planning Process – Overview and Objectives
Board to consider and discuss overview and objectives of the strategic vision planning process, as presented and moderated by Mosaic Governance Advisors.
a. Mosaic Presentation
b. Appendix: Stakeholder Research
Item 4 – Strategic Vision Planning Process – Assessing the Present and Future of SCERS
Board to consider and discuss its consultants’ assessment of SCERS’ present and future, as moderated by Mosaic Governance Advisors and presented by Segal, Verus, and Cliffwater, LLC.
Item 5 – Comments from Members of the Board of Retirement
Adjournment​

Special Board Meeting July 31, 2025
2025-07-31 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 – Strategic Vision Planning Process – Identifying Future Opportunities
Board to consider and discuss future ideas and opportunities for SCERS, as moderated by Mosaic Governance Advisors and presented by Ailman Advisors, CEM Benchmarking, and Cushman & Wakefield.
Item 4 – Strategic Vision Planning Process – Reviewing Strengths, Weaknesses, Opportunities and Threats
Board to consider and discuss the critical themes and priorities of SCERS’ SWOT analysis, as moderated and presented by Mosaic Governance Advisors.
a. Mosaic Presentation
Item 5 – Strategic Vision Planning Process – Closing Remarks and Next Steps
Board to consider and discuss next steps in the strategic vision planning process, as moderated and presented by Mosaic Governance Advisors.
Item 6 – Comments from Members of the Board of Retirement
Adjournment​

Board Meeting August 20, 2025
2025-08-20 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 – Election of Board Officers – No Materials
Item 3 – Public Comment – No Materials
Consent Matters
Item 4 – Minutes of the June 18, 2025 Regular Meeting
Approve the minutes of the June 18, 2025 Regular Meeting
Item 5 – Minutes of the June 17, 2025 Audit Committee Meeting
Approve the minutes of the June 17, 2025 Audit Committee Meeting
Item 6 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 6A – BROOKS, Jimmy (Custodian Level 2, Sacramento County General Services Department): Grant a non-service connected disability retirement.
Item 6B – CONNELLY, Lorene (Mental Health Worker, Sacramento County Mental Health Department): Grant a service-connected disability retirement.
Item 6C – GONZALES, Steven (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6D – HICKMAN, Randy (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6E – HOLM, Adam (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6F – LACKEY, Victor (Deputy Sheriff, Sheriff’s Department): Grant a service-connected disability retirement.
Item 6G – LENARD, Nathan (Human Service Specialist II, Sacramento County Department of Human Assistance): Grant a Non-Service connected Disability Retirement.
Item 7 – Ratification of Service Retirement Application Approvals—June and July 2025
Ratify the service retirement applications that were finalized in June and July 2025.
Item 8 – State Association of County Retirement Systems Legislative Update (SACRS)—August 2025
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for August 2025.
Item 9 – CEO Delegated Authority Expense Report—Second Quarter 2025
Receive and file the CEO Delegated Authority Expense Report for the quarter ended June 30, 2025.
Item 10 – Employer Contribution Prepayments
Receive and file report confirming Sacramento County and Sacramento Area Sewer District employer contribution prepayments for fiscal year 2025-26, and Sacramento Metro Fire District unfunded liability payment for 2025-26.
Item 11 – Portfolio Allocation and Rebalancing Report—Second Quarter 2025
Receive and file the Portfolio Allocation and Rebalancing Report for the quarter ended June 30, 2025.
Item 12 – 2024 Alternative Asset Fee and Expense Report
Receive and file the 2024 Alternative Asset Fee and Expense Report.
Item 13 – Report of Closed Session Action
Receive and file report of closed session action regarding the purchase or sale of pension fund investments.
Item 14 – Monthly Report of Investment Activity—June and July 2025
Receive and file the Monthly Report of Investment Activity for June and July 2025.
Executive Reports
Item 15 – Chief Executive Officer’s Report – No Materials
Item 16 – Chief Investment Officer’s Report
Item 17 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 18 – Custodial Bank Recommendation
Award custodial services contract to Northern Trust Bank and authorize the Chief Executive Officer to enter final contract negotiations with the firm.
Item 19 – Technology Services
Authorize Chief Executive Officer to execute a contract with Levi, Ray, and Shoup, Inc. (LRS) for technology services in an amount not to exceed $685,000.
Item 20 – Strategic Management Plan Report—Second Quarter 2025
Receive and file an update on activities and progress related to the 2025 Strategic Management Plan for the quarter ended June 30, 2025.
Item 21 – Technology Report—Second Quarter 2025
Receive and file Technology Report for the quarter ended June 30, 2025.
Benefit Matters
Item 22 – Final Compensation Policy
Approve amendments to Final Compensation Policy and direct staff to implement correction plan.
Item 23 – Service Purchase Policy
Approve amendments to the Service Purchase Policy.
Investment Matters
Item 24 – Investment Manager Compliance and Watch List Report—Second Quarter 2025
Receive and file the Investment Manager Compliance and Watch List Report for the quarter ended June 30, 2025.
Item 25 – Master Investment Policy Statement and Asset Category Investment Policy Statements
Approve amendments to the Master Investment Policy Statement (IPS) and the Asset Category Investment Policy Statements and rescind the Limited Partner Advisory Committees Policy and incorporate key and relevant components of the policy into the Master IPS.
Item 26 – Total Fund Investment Performance Report—Second Quarter 2025
Receive and file Total Fund Investment Performance Report for the quarter ended June 30, 2025, as presented by Verus.
Other Matters
Item 27 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 28 – 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 29 – CONFERENCE WITH LEGAL COUNSEL—ANTICIPATED LITIGATION
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 30 – 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.
Item 31 – 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​

Special Board Meeting - Investment Forum - September 16, 2025
2025-09-16 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 – Market Outlook & Trends
Item 4 – Global Equity Asset Class
Item 5 – Artificial Intelligence
Item 6 – Private Equity Asset Class
Item 7 – Real Estate Asset Class
Item 8 – Comments from Members of the Board of Retirement – No Materials
Adjournment​

Board Meeting September 17, 2025
2025-09-17 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
Consent Matters
Item 3 – Minutes of the July 30-31, 2025 Special Meetings
Approve the minutes of the July 30-31, 2025 Special Meetings
Item 4 – Minutes of the August 20, 2025 Regular Meeting
Approve the minutes of the August 20, 2025 Regular Meeting
Item 5 – Disability Retirement Applications
Adopt Staff’s recommendations for the following Disability Retirement Applications:
Item 5A – DEAVER, Jeanette (Human Services Specialist, Department of Human Assistance): Deny a service-connected disability retirement.
Item 5B – THOMAS, Edrak (Deputy Clerk, Superior Court): Grant a non-service-connected disability retirement.
Item 6 – Ratification of Service Retirement Application Approvals—August 2025
Ratify the service retirement applications that were finalized in August 2025.
Item 7 – State Association of County Retirement Systems Legislative Update (SACRS)—September 2025
Receive and file the State Association of County Retirement Systems (SACRS) Legislative Update for September 2025.
Item 8 – Sacramento County Department of Personnel Services Memorandum of Understanding
Amend Memorandum of Understanding with Department of Personnel Services regarding the County Retiree Health Care Program
Item 9 – Board Policies
Approve technical and clarifying amendments to the following policies
Item 9A – Records Retention Policy
Item 9B – Board Elections Policy
Item 10 – Monthly Report of Investment Activity—August 2025
Receive and file the Monthly Report of Investment Activity for August 2025.
Executive Reports
Item 11 – Chief Executive Officer’s Report – No Materials
Item 12 – Chief Investment Officer’s Report – No Materials
Item 13 – Chief Benefits Officer’s Report – No Materials
Administrative Matters
Item 14 – Strategic Management Plan Report—Second Quarter 2025
Receive and file an update on activities and progress related to the 2025 Strategic Management Plan for the quarter ended June 30, 2025.
Item 15 – Participating Employer Membership Process
Receive and file presentation on process for special districts to join SCERS as participating employers.
Item 16 – Ad Hoc Compensation Committee
Establish Ad Hoc Compensation Committee and appoint members.
Investment Matters
Item 17 – Liquidity Study
Receive and file the liquidity study and cash-flow profile of SCERS’ portfolio, as presented by Verus.
Item 18 – Investment Performance Report—Alternative Assets
Receive and file the Investment Performance Report for the quarter ended June 30, 2025 for the Absolute Return portfolio, and the quarter ended March 31, 2025 for the Private Equity, Private Credit, and Real Assets portfolios, as presented by Cliffwater, LLC.
Item 19 – Investment Performance Report—Real Estate
Receive and file the Investment Performance Report on real estate investments for the quarter ended June 30, 2025 as presented by Townsend Group.
Other Matters
Item 20 – Comments from Members of the Board of Retirement – No Materials
Closed Session
Item 21 – 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 22 – CONFERENCE WITH LEGAL COUNSEL—INITIATING LITIGATION
Pursuant to Government Code Section 54956.9(d)(4), this session shall be closed for the Board to discuss a decision whether to initiate litigation in one (1) case.
Item 23 – 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 October 15, 2025
2025-10-15 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
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​

Abraham Lincoln's Birthday
2026-02-12 00:00 - 23:59
SCERS will be closed in observance of Abraham Lincoln’s birthday.

George Washington's Birthday
2026-02-16 00:00 - 23:59
SCERS will be closed in observance of George Washington’s birthday.

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​

Employer Forum
2026-02-20 09:00 - 11:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
The Employer Forum is for administrators and finance, budget, benefits, and HR staff who intersect with SCERS or are interested in learning more about our pension program.
RSVP: Retirement-Communications@saccounty.gov

Educational Outreach to DSA and LEMA
2026-02-23 10:00 - 12:00 | SCERS Board Room, 980 9th Street, Sacramento, CA, 95814
SCERS is participating in a joint outreach event to two Sacramento County law enforcement unions, DSA and LEMA.
Location: 640 Bercut Drive, Sacramento, CA 95811

Thanksgiving
2026-02-26 00:00 - 2026-02-27 23:59
SCERS will be closed in observance of Thanksgiving.

Joint Retirement Planning Webinar
2026-03-11 10:00 - 12:30
SCERS Retirement Planning Webinars provide members with information and answers to frequently asked questions about preparing for retirement.
SCERS Joint Retirement Planning Webinars are tailored for members within a few years of retirement and include guest panelists (as available) from Sacramento County Employee Benefits Office, Fidelity Investments, Social Security Administration, MissionSquare Retirement, and Sacramento County Retired Employees Association. These webinars are 2.5 hours in length.
Webinars are conducted via Zoom and registration is required.
