Times shown are for informational purposes only and are subject to change. Additionally, items are sometimes taken out of order as the meeting progresses in order to avoid downtime, and manage around time-certain items.
DISCUSSION AND ACTION
RECOMMENDATION: That pursuant to SBCERS Bylaw 706, the Board of Retirement:
A. Establish an ad hoc committee to oversee the Private Equity and Private Real Return RFP for consultant services process; and
B. That the Chair of the Board of Retirement appointment members to the Private Equity and Private Real Return ad hoc committee; or
C. Take other action as appropriate.
Adopt January 2025 Retirement Report.
Authorize the attendance of interested trustees at upcoming training events requiring Board pre-approval, as requested.
Receive and file the report for the quarter ending December 31, 2024 on the investment results, contributions and expenditures of the County of Santa Barbara 401(h) Retiree Healthcare Subsidy fund.
Receive and file the report by RVK, Inc. on World Market Activities and January 31, 2025 performance.
Time Certain of 9:20 AM
Disability matters shall be considered in CLOSED HEARING -- pursuant to Government Code Section 54957(b)(1). Interested parties may request these matters to be discussed in a session open to the public. CONFIDENTIAL REPORTS are distributed only to the Board.
DISCUSSION AND ACTION
RECOMMENDATION: Grant the application for service-connected disability retirement of Pamela McNulty, subject to timely requested hearing by an interested party.
DISCUSSION AND ACTION
RECOMMENDATION: Adopt the proposed Findings of Fact, Conclusions of Law, and Decision granting Shaelyn Wilkinson a service-connected disability retirement.
DISCUSSION AND ACTION
RECOMMENDATION: Adopt the proposed Findings of Fact, Conclusions of Law, and Decision denying Catherine Baker a service-connected disability retirement.
DISCUSSION
RECOMMENDATION: Receive and file the monthly disability retirement case status report.
Gov. Code Section 54956.9(d)(1)
Existing Litigation: Paul Weirum et al. v. Santa Barbara County Employees’ Retirement System Board of Retirement.
Gov. Code Section 54956.9
One Case: LACERA v. County of Los Angeles
Presentation by Managing Directors Matthew Silverio and Elizabeth Bell of Hamilton Lane on the 2025 Annual Strategic Plans.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board of Retirement receive and approve the 2025 Private Equity, Private Real Return and Private Real Estate Strategic Plans presented by Managing Directors Matthew Silverio and Elizabeth Bell of Hamilton Lane.
Presentation by Principals Marcia Beard and Matthias Bauer of RVK, Inc. on the quarter ending December 31, 2024.
DISCUSSION
RECOMMENDATION: That the Board of Retirement receive and file the Quarterly Investment Performance Analysis Report for the period end presented by Principals and Co-Lead Consultants Marcia Beard and Matthias Bauer, CFA of RVK, Inc.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board receive the annual Cost-of-Living Adjustment (COLA) analysis and presentation and adopt the COLA rate (3%) and accumulated carry-over balance (“COLA bank”) increases (0.5% or 1.5%, depending on plan) set forth in Cheiron’s COLA report as of April 1, 2025.
Presentation by Brian Richard, SBCERS Assistant CEO, on the appointment of a Retiree Extra Help appointment.
DISCUSSION AND ACTION
RECOMMENDATION
That the Board of Retirement:
In accordance with California Government Code Section 7522.56(f), certify that the appointment SBCERS employee Lesley Torgeson, IT Administrator, is necessary to fill a critical need in the Information Technology Division, before 180 days have passed from the date of her pending retirement; and,
Approve and authorize the appointment of Lesley Torgeson, as an Extra Help employee to provide training to new staff on a part-time basis not to exceed 960 hours in a fiscal year pursuant to Section 7522.56(d), with an appointment effective date of April 1, 2025; and,
Approve Resolution 2025-01 celebrating the service of Lesley Torgeson at the Santa Barbara County Employees’ Retirement System.
Presentation by Gregory Levin, SBCERS CEO, on significant operational activities of SBCERS.
DISCUSSION
RECOMMENDATION: That the Board of Retirement receive and file the Operations Report.
Presentation by SBCERS Controller Rico Pardo on the implementation of the Santa Barbara Superior Court Other Post-Employment Benefits (OPEB) Funding Policy.
DISCUSSION
RECOMENDATION: That the Board receive and file the Santa Barbara Superior Court – Other Post-Employment Benefits (OPEB) Funding Policy.