NOTE: This meeting will not be live-streamed due to technical difficulties. We apologize for this inconvenience. If you wish to watch the meeting and/or address the Board, please attend in person. 

Agenda
Minutes

Open Session

Item 1 – Call to Order/Roll Call - No Materials

Item 2 - Public Comment – No Materials

Closed Session

Item 21 - Public Employee Appointments (confidential)
Pursuant to Government Code section 54957(e), this session shall be closed for the Board to discuss the following public employee appointments:

• Retirement General Counsel
• Assistant Retirement Administrator-Benefits (Chief Benefits Officer)

Consent Matters

Item 4 – Minutes of the March 15, 2023 Regular Meeting

[Item 5A] – Clark, Kenneth; Staff Recommendation dated April 19, 2023 (confidential)

[Item 5B] – Harris, Kimberly; Staff Recommendation dated April 19, 2023 (confidential)

[Item 5C] – Schaefers, James; Staff Recommendation dated April 19, 2023 (confidential)

[Item 5D] – Small, Aaron; Staff Recommendation dated April 19, 2023 (confidential)

Item 6 – Ratification of Service Retirement Applications Approvals – March 2023

Item 7 – State Association of County Retirement Systems Legislative Update – April 2023

Item 8 - State Association of County Retirement Systems – Board of Directors Election

Item 9 - CEO Delegated Authority Expense Quarterly Report – First Quarter 2023

Item 10 - Conflict of Interest Code

Item 11 - Placement Agent Disclosure Report – First Quarter 2023

Item 12 - Monthly Report of Investment Activity – March 2023

Item 13 – Quarterly Investment Manager Compliance and Watch List Report – first Quarter 2023

Executive Reports

Item 14 - Chief Executive Officer’s Report – No Materials

Item 15 - Chief Investment Officer’s Report – No Materials

Benefits Matters

Item 16 – CEO Delegated Authority Policy for Personnel
Recommendation to approve new policy to formalize existing practices regarding the Chief Executive Officer’s authority for personnel matters.

Item 17 – Actuarial Services
Recommendation to authorize Chief Executive Officer to renew actuarial services contract with Segal for one (1) year, through June 30, 2024, in an amount not to exceed $150,000.

Item 18 - Financial Audit Services
Recommendation to authorize Chief Executive Officer to renew financial audit services contract with Brown Armstrong for three (3) years, through June 30, 2026, in an amount not to exceed $227,000.

Item 19 – Annual Budget for Fiscal Year 2023-24
Recommendation to approve an annual budget of approximately $37.7 million and 76 positions for fiscal year 2023-24.

Investment Matters

Item 20 - Dedicated Cash Allocation
Recommendation to reallocate upcoming Absolute Return redemption proceeds into SCERS’ dedicated cash allocation on an interim basis, instead of the Overlay Program, while a replacement search is conducted.

Item 21 - Education:  Absolute Return Trend-Following Strategies
Recommendation to receive and file education presentation by Graham Capital Management.