HomeMy WebLinkAboutMinutes - 2018.01.11 - 30431OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held January
11, 2018 at 1:30 p.m. in the East Oakland Conference Room, Executive Office Building.
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Andy Meisner Curtis Childs Thomas Middleton Jeffrey Phelps Lauri Siskind
Member(s) Absent: Christopher Ward (designee of Chairperson, BOC), with notice
Laurie Van Pelt (designee of County Executive), with notice Others Present: Keith Lerminiaux, Corporation Counsel
Silvia Frank, Human Resources Paige Ritchie, Human Resources
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
David A. Collon, Seizert
Darin J. Young, Seizert
Secretary Frank chaired the meeting 1. Moved by Meisner, seconded by Middleton to approve the minutes of December 14, 2017. Motion carried.
2. Meeting was opened for public comment; no one spoke.
3. Election of Officers:
a. Call for nominations from the floor for Chairperson. Meisner nominated James H. VanLeuven, Jr., seconded by Childs. Moved by Middleton, seconded by Phelps, that
nominations be closed and a unanimous ballot be cast. Motion carried. Chairperson James H. VanLeuven, Jr. assumed the chair.
b. Call for nominations from the floor for Vice Chairperson. Phelps nominated Joseph
Rozell, seconded by Meisner. Moved by Middleton, seconded by Childs, that nominations be closed and a unanimous ballot be cast. Motion carried.
4. Moved by Childs, seconded by Meisner to approve the following Defined Benefit retirement applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Boucher, Jeff Sheriff Office 01/20/2018
Hamilton, Theresa M. Deferred 01/18/2018 Newsom, Pamela Sheriff Admin. 02/01/2018 White, Steven Animal Control 02/01/2018
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes January 11, 2018 Page 2 5. Moved by Phelps, seconded by Meisner, to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Alvarado-Walterhouse, Marta FOC 02/01/2018 Craine, Richard WRC 02/03/2018
Daly, Jill Probate Estates 01/19/2018 Mason, Kathy Prosecutor’s 01/03/2018
Wood Sr, Michael Parks and Rec 01/12/2018
6. Moved by Meisner, seconded by Middleton to receive and file the Investment Subcommittee minutes of December 14, 2017. Motion carried.
7. Moved by Rozell, seconded by Childs to receive and file the 4th Quarter 2017 Defined Benefit and Defined Contribution reports. Motion carried.
8. Moved by Meisner, seconded by Siskind to approve Gabriel, Roeder, Smith & Co. invoice No. 435166 in the amount of $10,000.00 for work related to the GASB Statement No. 67
actuarial valuation including the calculation of the AERSL in connection with GASB
Statement No. 68. Motion carried.
9. Moved by Middleton, seconded by Meisner to receive and file the December 7, 2017
Board of Commissioners minutes approving Lauri Siskind as the Citizen Member to serve a four year term, ending December 31, 2021 to the Oakland County Retirement and
Deferred Compensation Board. Motion carried.
10. Moved by Siskind, seconded by Childs to receive and file the January 2018 securities
litigation report by The Miller Law Firm. Motion carried. 11. Keith Lerminiaux randomly drew four winners for the 4th quarter 2017 R.E.A.P. incentive.
Winners of $100 gift cards are: Name Department Educational Endeavor Richard Peresky Health ICMA-RC Presentation
Mildred James Circuit Court Fidelity Presentation Beth Hella Health ICMA-RC One-on-One
Suzanne Brunette Health ICMA-RC One-on-One
12. David Collon and Darin Young of Seizert Capital presented Portfolio Overview of the
Oakland County VEBA and Oakland County Employees Retirement System to the Board.
13. Chris Kuhn and Peter Brown of AndCo Consulting distributed the following reports and
provided brief comments summarizing highlights contained in each:
• Oakland County Employees’ Retirement System (ERS) Market Update –
December 31, 2017
• Oakland County ERS – Asset/Manager Summary – January 11, 2018
• Oakland County ERS Defined Benefit Plan Monthly Flash Report – Investment Performance Review Period Ending December 31, 2017
14. Moved by Middleton, seconded by Meisner to go into closed session regarding a Defined Contribution Non-Duty Disability retirement application pursuant to MCL 15.268(h) and
MCL 15.243(1)(l) to discuss material exempt from disclosure under federal or state law
including medical, counseling or psychological facts or evaluations that would identify the individual involved.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes January 11, 2018 Page 3 Roll Call:
Ayes: VanLeuven, Rozell, Meisner, Childs, Ward, Middleton, Van Pelt, Phelps,
Siskind Nays: None
Motion carried. Closed session commenced at 2:38 p.m. 15. Closed session concluded at 2:43 p.m.; agenda resumed.
16. Moved by Rozell, seconded by Phelps, to approve the Defined Contribution Non-Duty
Disability application effective November 28, 2017. Motion carried.
17. Other Business:
a. Secretary Frank provided a verbal update on contract negotiations with Prudential for
the Defined Contribution Recordkeeping conversion (401(a), 457, and Part-time Non-eligible 457 Plans).
b. Chairperson VanLeuven noted upcoming meetings:
i. February 22, 2108 – 1:30 p.m. Oakland County Employees’ Retirement and Deferred Compensation Board
18. Chairperson VanLeuven adjourned the meeting without objection at 2:46 p.m.
Respectfully submitted,
__________________________________ __________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary