Mendocino County Employees Retirement Association 5/20/2026

The Mendocino County Employees Retirement Association held a meeting on May 20, 2026, primarily focused on investment consultant interviews following a request for proposal (RFP). Four firms—Sarity Partners, Makita, Seagull Marco, and Kalen—presented their investment consulting capabilities, including asset allocation strategies, risk management, portfolio diversification, and manager research. Discussions emphasized the importance of fiduciary standards, diversification into private equity and private credit, liquidity considerations, and the use of advanced modeling tools. The board reviewed quarterly and monthly investment performance reports, noting strong portfolio growth and rebalancing activities. The fiscal year 2026-27 budget proposal was presented and approved, highlighting administrative expenses, technology upgrades, and capital improvement plans. After deliberation, the board voted unanimously to retain Kalen as their investment consultant, citing their extensive experience with public pension plans, educational support, and alignment with the board's conservative investment philosophy. The meeting concluded with plans for an executive director evaluation and scheduling of the next meeting.