HomeMy WebLinkAboutMinutes - 2018.02.22 - 30432OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held February
22, 2018 at 1:30 p.m. in the West Oakland Conference Room, Executive Office Building.
Members Present: James H. VanLeuven, Jr. Andy Meisner
Curtis Childs Thomas Middleton Jeffrey Phelps Lauri Siskind
Christopher Ward (designee of Chairperson, BOC) Laurie Van Pelt (designee of County Executive)
Member(s) Absent: Joseph Rozell, with notice Others Present: Keith Lerminiaux, Corporation Counsel Silvia Frank, Human Resources
Jennifer Hain, Human Resources
Paige Ritchie, Human Resources Lynn Sonkiss, Fiscal Services
Louise Gates, Gabriel Roeder Smith
Jason May, Graystone Consulting Freddie Sarno, Graystone Consulting
Brian McCleave, Prudential Mike McCann, Prudential Steven Presby, Health & Human Services
1. Moved by Siskind, seconded by Phelps to approve the minutes of January 11, 2018. Motion carried.
2. Meeting was opened for public comment.
a. Steve Presby addressed the Board regarding the upcoming transition to Prudential. Mr. Presby has concerns with moving to a single provider and cautions cost should
not be the main factor in this decision. Mr. Presby noted the lack of transparency
with employees regarding the recordkeeping change and he is also concerned the recordkeeping change may reduce employee retirement education.
3. Moved by Childs, seconded by Phelps to approve the following Defined Benefit retirement applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Sheryl Burns Deferred 03/30/18 Ruthie Curry 52/3 District Court 03/17/18
William Hamilton Circuit Court 03/03/18 James Keglovitz Plng & Economic Dev 03/17/18
Teresa Tewilliager Health 03/01/18 Greg White FM&O 03/01/18
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes February 22, 2018 Page 2 4. Moved by Van Pelt, seconded by Meisner, to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Kevin Bertram IT 03/03/18 Dennis Jelley Medical Examiner 02/01/18
Albert Krawiec Sheriff 02/10/18 Brian Ratledge Parks & Rec 03/02/18
5. Louise Gates of Gabriel Roeder Smith (GRS) presented the September 30, 2017 Oakland
County Employees Retirement System Actuarial Valuation Report.
a. Moved by Meisner, seconded by Van Pelt, to receive and file the September 30, 2017 Oakland County Employees Retirement System Actuarial Valuation Report.
Motion carried.
6. Moved by Middleton, seconded by Ward to receive and file the February 2018 securities
litigation report by The Miller Law Firm. Motion carried. 7. Moved by Childs, seconded by Phelps, to receive and file the Fidelity Rollover Report for
July – November 2017. Motion carried. 8. Moved by Meisner, seconded by Childs, to receive and file the ICMA-RC Rollover Report
for July – December 2017. Motion carried. 9. Jason May and Freddie Sarno of Graystone Consulting presented Oakland County
12/31/2017 Review of Plans & Transition Update - February 22, 2018.
10. 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 addressed the Board regarding Alidade – Limited Partnerships Agreement Amendment
i. Motion by Van Pelt, seconded by Siskind, pending legal review, to approve and amend Alidade Fund IV’s Limited Partnership Agreement by extending the final close date at which Fund IV can accept new investors
or increased commitments from existing investors to June 30, 2018. c. Trustee Siskind advises MAPERS will be offering a one-day seminar on Friday,
March 2, 2018 at the Somerset Inn, Troy and 2018 MAPERS Spring Conference
registration is now open. d. Chairperson VanLeuven noted the next meeting of this Board:
i. March 22, 2018 – 1:30 p.m.
e. Chairperson VanLeuven adjourned the meeting without objection at 2:53 p.m.
Respectfully submitted,
__________________________________ __________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary