Scheduled times 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.
Approve Minutes of the March 19, 2025 Meeting.
Adopt March 2025 Retirement Report.
Authorize the attendance of interested trustees at upcoming training events requiring Board pre-approval, as requested.
Receive and file the report on World Market Activities and February 28, 2025 performance.
Time Certain of 9:05 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: Adopt the proposed Findings of Fact, Conclusions of Law, and Decision granting John Brenner a service-connected disability retirement.
DISCUSSION AND ACTION
RECOMMENDATION: Grant the application for service-connected disability retirement of James Lockhart, subject to a timely requested hearing by an interested party.
DISCUSSION
RECOMMENDATION: Receive and file the monthly disability retirement case status report.
Presentation by Rebecca M. Valdez, Investment Officer
DISCUSSION
RECOMMENDATION: That the Board of Retirement receive and file an update on Private Equity and Private Real Return Discretionary Consultant Services Request of Proposal presented by Rebecca M. Valdez, Investment Officer.
Presentation by Principals and Co-Lead Consultants Marcia Beard and Matthias Bauer, CFA of RVK, Inc. on World Market Activities and March 31, 2025 performance.
DISCUSSION
RECOMMENDATION: That the Board of Retirement receive and file the Monthly Investment Performance Analysis Period Ended March 31, 2025 presented by Principals and Co-Lead Consultants Marcia Beard and Matthias Bauer, CFA of RVK, Inc.
Presentation by Principals and Co-Lead Consultants Marcia Beard and Matthias Bauer, CFA of RVK, Inc. regarding the 2025 Asset Allocation review.
DISCUSSION
RECOMMENDATION: That the Board of Retirement receive and file the 2025 Asset Allocation review presented by Principals and Co-Lead Consultants Marcia Beard and Matthias Bauer, CFA of RVK, Inc.
Presentation by Gregory Levin on significant operational activities of SBCERS.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board of Retirement receive and file the Operations Report and,
A) Appoint a voting proxy and an alternate for the SACRS business meeting to be held May 16, 2025, and
B) Direct the voting proxy to vote “yes” on the following items at the SACRS Board Meeting on May 16, 2025:
Secretary’s Report – Receive and file Minutes from November 2024
Treasurer’s Report – Receive and file July 2024 – January 2025 Financials
Nomination Committee – Board of Director Elections 2025-2026 Final Ballot
Audit Committee – Annual 2023-2024 Audit Report
Presentation by Greg Levin, SBCERS CEO, and Rico Pardo, SBCERS Controller, on the System's payment administration practices.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board of Retirement approve resolution 2025-03 authorizing the SBCERS CEO and Controller to authorize warrants, checks, and electronic fund transfers drawn against the retirement fund.
Presentation from Dani Couture, SBCERS Communications Manager & Clerk of the Board, on the recommended amendments to the Board of Retirement’s Trustee Elections Policy.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board of Retirement approve the Trustee Elections Policy with amendments as recommended by the Operations Committee, or provide direction to the Operations Committee and staff for further amendment or research on the policy.
Presentation from Cristal Rodriguez, General Counsel, on the recommended amendments to the Board of Retirement’s Felony Forfeiture Policy.
DISCUSSION AND ACTION
RECOMMENDATION: That the Board of Retirement approve the Felony Forfeiture Policy with amendments as recommended by the Operations Committee or, provide direction to the Operations Committee and staff for further amendment to the policy.