May Actuarial Retirement Board Meeting

1. Regular Calendar
   1. Actuarial Topics
      1. Actuarial Valuation and Review as of December 31, 2025 – Actuaries Todd Tauzer and Emily Klare of Segal Consulting will present the SCERA Actuarial Valuation for the Year Ended December 31, 2025.
         1.  Recommendation: Approve the Actuarial Valuation for the Year Ended December 31,
      2. Summary Analysis of System Experience – Chief Executive Officer Julie Wyne will present a multi-year review of retirement system key metrics including items impacting the Unfunded Actuarial Accrued Liability (UAAL) and funded ratio, significant actuarial gains/losses, investment experience, market stabilization reserve amortization/forecast, and key demographic information.
      3. GAS 67 valuation report for the plan year ended December 31, 2025 – Actuaries Todd Tauzer and Emily Klare of Segal Consulting will present the SCERA GAS 67 valuation report for the Year Ended December 31, 2025.
2. General Discussion Items

   Opportunity to advise the Board of new matters and for Trustees to ask questions for clarification, provide information to staff, request staff to report back on a matter or direct staff to place a matter on a subsequent agenda.

3. Public Comment
   • Opportunity for public comments on non-agenda items within the jurisdiction of the Retirement Board.
4. Notice of Next Meetings
   • All meetings are held at SCERA in the Board Room at 433 Aviation Boulevard, Suite 100, Santa Rosa, CA, and broadcast via Zoom unless otherwise noted.
     Administrative Benefits Committee Meeting May 7, 2026
     ~10:30 a.m.; immediately following the Actuarial Board Meeting
     Disability Committee Meeting May 21, 2026
     8:30 a.m.
     Retirement Board Meeting May 21, 2026
     9:00 a.m.
     Investment Committee Meeting May 28, 2026
     8:30 a.m.
5. Adjournment

Disabled Accommodation: If you have a disability which requires an accommodation, an alternative format, or requires another person to assist you while attending this meeting, please contact the Retirement Office at (707) 565-8100, at least 72 hours in advance to ensure arrangements for accommodation.