February 15, 2023 10:00 a.m.
This meeting will be in-person only, due to technical difficulties with our streaming service. We apologize for this inconvenience.
Item 1 – Call to Order/Roll Call - No Materials
Item 2 - Public Comment – No Materials
Item 3 – Minutes of the January 18, 2023 Regular Meeting
Item 4 – Ratification of Service Retirement Applications - January 2023
Item 5 – State Association of County Retirement Systems Legislative Update - February 2023
Item 6 – Cost-of-Living Adjustment (COLA) effective April 1, 2023
Item 7 – Strategic Management Plan Annual Report
Item 8 – Portfolio Allocation and Rebalancing Report - Fourth Quarter 2022
Item 9 – Proxy Voting Activity Report – Fourth Quarter 2022
Item 10 -Trading Cost Analysis Reports – Fourth Quarter 2022
Item 11 – Monthly Report of Investment Activity – January 2023
Item 12 - Chief Executive Officer’s Report – No Materials
Item 13 - Chief Investment Officer’s Report – No Materials
Item 14 – Alameda Corrections
Recommendation to amend the September 16, 2020, Alameda Board Order and direct staff to refrain from recouping overpaid benefit amounts that occurred on or after the August 31, 2020, payroll.
Item 15 – Chief Technology Officer
Recommendation to add 1.0 FTE Assistant Retirement Administrator-Enterprise Solutions Management position (working title Chief Technology Officer), utilizing Range A or Range B of the County salary schedule at the discretion of the Chief Executive Officer.
Item 16 - Actuarial Funding Risk Assessment Report
Recommendation to receive and file presentation on risk assessment to review historical factors that have caused changes in SCERS’ funded status and contribution rates, and to identify risks that may affect the plan’s future financial condition.
Item 17 - Review of 2023 Capital Market
Recommendation to receive and file the report from general investment consultant, Verus Advisory, reviewing their 2023 capital market assumptions (CMAs).
Item 18 - Total Fund Investment Performance
Report – Fourth Quarter 2022
Recommendation to receive and file the SCERS Total Investment Performance Review report, prepared by Verus, for the quarter ending December 31, 2022.
Item 19 – 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 20 – Conference with Legal Counsel – Initiate 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.