June 16, 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

Open Session – Consent Matters

Item 3 – Minutes of the May 19, 2021 Regular Meeting​​

Item 4A – Cryer-Coleman, Cynthia. Staff recommendation dated June 16, 2021 (confidential)

Item 4B – Hyatt, Scott. Staff recommendation dated June 16, 2021 (confidential)

Item 4C – Rivera, Evelyn. Staff recommendation dated June 16, 2021 (confidential)

Item 4D – Reference:  General Law and Authorized Board Actions on Disability Retirement Proposed Decisions

Item 5 – Ratification of Service Retirement Applications - May 2021

Item 6 – State Association of County Retirement Systems Legislative Update – June 2021

Item 7 – Sacramento County 2021-22 Contribution Prepayment

Item 8 – Monthly Investment Manager Activity, Compliance, and Watch List Report – May 2021

Item 9 – Monthly Report of Investment Activity – May 2021

Executive Reports

Item 10 – Chief Executive Officer’s Report – No Materials

Item 11 – Chief Investment Officer’s Report – No Materials

Benefit Matters

Item 12Membership Policy
Staff to recommend Board approve amendments to Membership Policy to clarify eligibility rules for employees moving from temporary to permanent positions. Deliberation and action.

Investment Matters

Item 13Real Estate Sector Allocation
Staff and Townsend Group to propose modifications to Real Return Investment Policy Statement regarding guidelines for real estate property-type allocations. Deliberation and action.

Item 14Asset Liability Management Study
Staff and Verus Advisory to present analysis of asset liability modeling using various asset allocation mixes needed to meet the actuarial rate of return. Receive and file.

Item 15Quarterly Investment Performance Report - Alternative Assets
Cliffwater, LLC to present the performance report for the period ending March 31, 2021 for the Absolute Return portfolio, and the period ending December 31, 2020 for the Private Equity, Private Credit, Real Assets, and Opportunities portfolios. Receive and file.

Item 16Quarterly Investment Performance Report - Real Estate
Townsend Group to present the performance report on real estate investments for the quarter ending March 31, 2021. Receive and file.