February 17, 2021 10:00 a.m.

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Agenda

Open Session

Item 1 – Call to Order – No Materials

Item 2 – Public Comment – No Materials

Consent Matters

Item 3 - Minutes of the January 19, 2021 Regular Meeting

Item 4 - Minutes of the January 29, 2021 Special Meeting

Item 5A - Armstrong, Lonnie.  Staff recommendation dated February 17, 2021 (confidential)

Item 5B - Elliot, Steven. Proposed Decision of Administrative Law Judge dated December 3, 2020 (confidential)

Item 5C - Fontillas, Ferdinand. Staff recommendation dated February 17, 2021 (confidential)

Item 5D - Roop, Scott. Staff recommendation dated February 17, 2021 (confidential)

Item 5E - Sprague, John. Staff recommendation dated February 17, 2021 (confidential)

Item 5F – Reference:  General Law and Authorized Board Actions on Disability Retirement Proposed Decisions

Item 6 - Ratification of Service Retirement Applications – January 2021

Item 7 - Cost-of-Living Adjustment (COLA) effective April 1, 2021

Item 8 - Strategic Management Plan Annual Report

Item 9 - Portfolio Allocation and Rebalancing Report - Fourth Quarter 2020

Item 10 - Proxy Voting Activity Report – Fourth Quarter 2020

Item 11 - Monthly Investment Manager Activity, Compliance and Watch List Report – January 2021

Item 12 - Monthly Report of Investment Activity - January 2021

Executive Reports

Item 13 – Chief Executive Officer’s Report – No Materials

Item 14 – Chief Investment Officer’s Report – No Materials

Benefit Matters

Item 15 - Ratification of Retirement Applications Policy
Staff to recommend Board approve amendments to Ratification of Retirement Applications Policy to provide additional clarity regarding estimated benefit payments in order minimize the time from a new retiree’s last working paycheck to their first retirement payment. Deliberation and action.

Investment Matters

Item 16Alternative Assets Consultant Recommendation
Staff to recommend Board renew and extend the contract with Cliffwater, LLC for alternative assets consulting services, for a three-year term, and authorize SCERS’ Chief Executive Officer to negotiate and execute documents necessary to update the contract. Deliberation and action.

Item 17Quarterly Investment Performance Report – Fourth Quarter 2020
Verus Advisory, Inc. to present the performance report for the quarter ended December  31, 2020. Receive and file.

Item 182020 Investment Year in Review and 2021 Annual Investment Plan
Staff and consultants to present 2020 Year in Review and 2021 Annual Investment Plan. Receive and file, and deliberation and action on any recommendations made in the report.