October 21, 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 - Alcaraz, Rachel. Staff recommendation dated October 21, 2020 (confidential)

Item 3B - Hancock, Luz. Proposed decision of Administrative Law Judge dated August 31, 2020 (confidential)

Item 3C - Hill, Phil. Staff recommendation dated October 21, 2020 (confidential)

Item 3D - White, Robert. Staff recommendation dated October 21, 2020 (confidential)

Item 3E - Wyatt, Dalton. Staff recommendation dated October 21, 2020 (confidential)

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

Item 4 - Minutes of the Audit Committee Meeting

Item 5 - Minutes of the September 16, 2020 regular meeting

Item 6 - Ratification of Service Retirement Application Approvals – September 2020

Item 7 - CEO Delegated Authority Expense Report

Item 8 - Strategic Management Plan – Quarterly Performance Report

Item 9 - IT Modernization Project Quarterly Report

Item 10 - Placement Agent Disclosure Report

Item 11 - State Association of County Retirement Systems Legislative Update – October 2020

Item 12 - Monthly Investment Manager Activity, Compliance, and Watch List Report - September 2020

Item 13 - Monthly Report of Investment Activity - September 2020

Executive Reports

Item 14 - Chief Executive Officer’s Report – No Materials

Item 15 - Chief Investment Officer’s Report – No Materials

Benefit Matters

Item 16Final Compensation Review Policy
Staff to recommend conforming revisions to the Final Compensation Review Policy to comply with the California Supreme Court opinion in Alameda County Deputy Sheriffs’ Association et al. v. Alameda County Employees’ Retirement Association and Board of Retirement of ACERA. Staff also recommends incorporating the Compensation Earnable Policy on Overtime, CTO-Expired, and CTO-Over-Max into the Final Compensation Review Policy. Deliberation and action.

Item 17Final Sick Leave Conversion Policy
Staff to recommend Board approve final version of Sick Leave Conversion Policy to clarify procedures for converting unused sick leave into service credit at retirement. Deliberation and action.

Investment Matters

Item 18Education: Fiduciary Standard of Care Policy
Staff and outside counsel to provide educational presentation and discussion of fiduciary duties and considerations when entering into alternative asset investment contracts. Receive and file.

Item 19 - Education: Securities Lending
Staff and State Street to provide educational presentation and discussion of SCERS practices with security lending. Receive and file.