HomeMy WebLinkAboutMinutes - 2018.05.24 - 30434OAKLAND COUNTY EMPLOYEES’ RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES The Oakland County Retirement and Deferred Compensation Board meeting was held May 24,
2018 at 1:30 p.m. in the East Oakland Conference Room, Executive Office Building. Members Present: James VanLeuven Jr. Joseph Rozell
Thomas Middleton Jeffrey Phelps Curtis Childs Lauri Siskind Andy Meisner (joins at 1:42 p.m.) Christopher Ward (designee of Chairperson, BOC) Laurie Van Pelt (designee of County Executive) Others Present: Keith Lerminiaux, Corporation Counsel Malcolm Brown, County Executive Kristy Slosson, Human Resources Jennifer Hain, Human Resources Silvia Frank, Human Resources Paige Ritchie, Human Resources Carly Webster, Human Resources
Jason May, Graystone Consulting Brian McCleave, Prudential Retirement Stephanie Smith, Prudential Retirement
1. Moved by Rozell, seconded by Phelps to approve the minutes of April 26, 2018. Motion carried.
2. Meeting was opened for public comment; no one spoke. 3. Moved by Van Pelt, seconded by Childs to approve the following Defined Benefit retirement applications. Motion carried. RETIREMENT DEPARTMENT EFFECTIVE
Joseph Matkosky Fiscal Services 06/23/18 Roosevelt Russell Human Resources 06/15/18
Laura Thierbach Register of Deeds 06/21/18
4. Moved by Phelps, seconded by Childs to approve the following Defined Contribution retirement applications. Motion carried.
RETIREMENT DEPARTMENT EFFECTIVE Sheila Cannon FM&O 07/21/18
Catherine Kobak-Haggerty Deferred 05/01/18 Annette Krecek Prosecuting Attorney 05/17/18 Rosemary Wilson Prosecuting Attorney 05/30/18 5. Moved by Middleton, seconded by Ward to receive and file the May 2018 securities litigation report by The Miller Law Firm. Motion carried. 6. Moved by Rozell, seconded by Childs to receive and file the Oakland County Employees’ Retirement System Summary Annual Report to Members as of September 30, 2017. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes May 24, 2018 Page 2 7. Moved by Van Pelt, seconded by Ward to receive and file the Retirement and Deferred
Compensation Board License Agreement for use of the County service mark. Motion carried.
8. Brian McCleave and Stephanie Smith of Prudential Retirement provided a verbal update on the Prudential Defined Contribution Recordkeeping conversion (401(a), 457(b), and
Part-time Non-eligible 457 Plans). 9. Jason May from Graystone Consulting distributed and presented Plan Investment Review
Oakland County 401(a) and 457(b) Plans January 1 – March 31, 2018 Report. 10. Moved by Van Pelt, seconded by Ward, to go into closed session to discuss attorney client privileged memorandum with respect to certain aspects of the 401(a) Defined Contribution, Defined Benefit and 457(b) Deferred Compensation plans.
Roll Call: Ayes: VanLeuven, Rozell, Meisner, Childs, Ward, Middleton, Van Pelt, Phelps, Siskind Nays: None
Motion carried. Closed session commenced at 2:06 p.m. 11. Closed session concluded at 2:48 p.m., agenda resumed.
12. Other Business: a. Moved by Middleton, seconded by Siskind, to allow council to proceed as discussed
in the Closed Session. Motion carried. b. Chairperson VanLeuven noted the next meeting of this Board: i. June 14, 2018 – 1:30 p.m. c. Chairperson VanLeuven rescheduled the October 25, 2018 Retirement Board meeting to October 18, 2018. d. Chairperson VanLeuven discussed the Board’s Education Policy. 13. Chairperson VanLeuven adjourned the meeting without objection at 2:53 p.m.
Respectfully submitted,
__________________________________ __________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary