May 20, 2020 10:00 a.m.


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Open Session

Item 1 – Call to Order – No Materials

Item 2 – Public Comment – No Materials

Consent Matters

Item 3A – Castillo, Roxanne. Proposed decision of Administrative Law Judge dated May 20, 2020 (confidential)

Item 3B – Gayent, Mykel. Staff recommendation date April 15, 2020 (confidential)

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

Item 4 – Minutes of the April 15, 2020 Regular Meeting

Item 5 – Ratification of Service Retirement Application Approvals – April 2020

Item 6 – State Association of County Retirement Systems Legislative Update – May 2020

Item 7 – Trading Activity and Commission Recapture Report – First Quarter 2020

Item 8 – Proxy Voting Activity Report – First Quarter 2020

Item 9 – Monthly Investment Manager Activity, Compliance, and Watch List Report – April 2020

Item 10 – Monthly Report of New Investment Activity – April 2020

Executive Reports

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

Item 12 – Chief Investment Officer’s Report – No Materials

Administrative Matters

Item 13Actuarial Experience Study
Segal to present the Actuarial Experience Study during the Period July 1, 2016 through June 30, 2019. Staff to recommend Board approve the actuarial assumptions recommended in the report to be used in the actuarial valuation as of June 30, 2020, and approve a phase-in of the unfunded liability contribution-rate increase. Receive and file the report, with deliberation and action on the recommendations.
Stakeholder Response

Item 14 – Update to Disability Retirement Counsel RFP 
Staff to present update on SCERS’ request for proposals (RFP) for disability retirement legal services.  Receive and file.

Item 15Election Timeline for Alternate Safety Board Member
Staff to recommend Board postpone election for vacant Alternate Safety representative on the Board of Retirement until early 2021.  Deliberation and action.

Investment Matters

Item 16Education: Portfolio Rebalancing Report – First Quarter 2020
Staff to provide educational presentation on Portfolio Allocation and Rebalancing Report. Receive and file

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

Item 18Alternative Assets Consultant Extension
Staff to recommend deferring Alternative Assets Consultant evaluation process, extending current contract with Cliffwater LLC through June 30, 2021, and authorizing the CEO to execute necessary documents. Deliberation and action.​