December 18, 2019 10:00 a.m.

Post

Agenda

Open Session

Item 1 – Call to Order – No Materials

Item 2 – Public Comment – No Materials

Consent Matters

Item 3A – Allen, Akenyah. – Proposed Decision of Administrative Law Judge dated September 26, 2019​ (confidential)

Item 3B – Tarnow, Richard. – Staff recommendation dated December 18, 2019 (confidential)

Item 3C – Watson, James. – Staff recommendation dated December 18, 2019​ (confidential)

Item 3D– Reference: General Law and Authorized Board Actions on Disability Retirement Proposed Decisions​​

Item 4 – Minutes

Item 5 – Ratification of Service Retirement Application Approvals – November 2019

Item 6- Monthly Investment Manager Activity, Compliance and Watch List Report – November 2019

Item 7 – Monthly Report of Investment Activity – November 2019

Executive Reports

Item 8 – Chief Executive Officer’s Report (No Materials)

Item 9 – Chief Investment Officer’s Report (No Materials)

Administrative Matters

Item 10Chief Executive Officer Goals for SCERS in 2020
Chief Executive Officer to present organization-wide goals and targets for 2020. Deliberation and action.

Item 11Board Meeting Calendar 2020
Staff to recommend the Board approve Board meeting calendar for 2020. Deliberation and action.

Item 12Actuarial Valuation and Review as of June 30, 2019 – Special District Revisions
Staff to recommend the Board adopt updated 2020-21 fiscal year employer contribution rates for special districts as recommended by Segal Consulting, and receive and file the revised Actuarial Valuation and Review as of June 30, 2019.

Item 13Amendments to SCERS’ Model Tax Regulations
Staff to recommend the Board approve updates to SCERS Model Tax Regulations for approval by Board of Supervisors. Deliberation and action.

Item 14Annual Independent Financial Statement Audit
Presentation by the SCERS’ Audit Committee of the June 30, 2019 Independent Auditor’s Report on the Comprehensive Annual Financial Report; Required Communication in Accordance with Professional Standards (SAS 114); and Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters. Receive and file.

Benefit Matters

Item 15Amendments to Dissolution of Marriage Documents Policy
Staff to recommend the Board approve updated Dissolution of Marriage Documents Policy to clarify non-member spouse waiver circumstances. Deliberation and action.

Investment Matters

Item 16Alternative Assets Consultant RFP
Staff to recommend the Board authorize Staff to issue a Requests for Proposal in 2020 for Alternative Assets Consultant. Deliberation and action.

Item 17Capital Market Assumptions
Staff and Verus Advisory to present current capital market assumptions. Receive and file.

Item 18Quarterly Investment Performance Report - Alternative Assets
Cliffwater, LLC to present the performance report for the Absolute Return asset class for the period ending September 30, 2019, and for the Private Equity, Private Credit,Real Assets, and Opportunities portfolios for the periods ended June 30, 2019. Receive and file.

Item 19Quarterly Investment Performance Report - Real Estate
Townsend Group to present the performance report on real estate investments for the quarter ended September 30, 2019. Receive and file.