HomeMy WebLinkAboutMinutes - 2018.06.14 - 30435OAKLAND COUNTY EMPLOYEES’ RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES The Oakland County Retirement and Deferred Compensation Board meeting was held June 14,
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 (joins at 1:48 p.m.) Lauri Siskind Christopher Ward (designee of Chairperson, BOC) Laurie Van Pelt (designee of County Executive) Members Absent: Andy Meisner (with notice) Others Present: Keith Lerminiaux, Corporation Counsel
Malcolm Brown, County Executive Jordie Kramer, Human Resources Jennifer Hain, Human Resources Silvia Frank, Human Resources Lisa Villella, Human Resources Carly Webster, Human Resources
Natalie Neph, Treasurer Peter Brown, AndCo Consulting
1. Moved by Phelps, seconded by Siskind to approve the minutes of May 24, 2018. Motion carried. 2. Meeting was opened for public comment; no one spoke. 3. Moved by Rozell, seconded by Middleton to approve the following Defined Benefit retirement applications. Motion carried.
RETIREMENT DEPARTMENT EFFECTIVE
Annice Carlson Health 08/15/18 Craig Cooper Sheriff 08/30/18
Theresa Franich Risk Management 07/21/18 Jeffrey Mathes Sheriff 07/21/18
Heidi Price Deferred 07/19/18 Manuel Rueles FM&O 07/17/18
4. Moved by Phelps, seconded by Siskind to approve the following Defined Contribution retirement applications. Motion carried.
RETIREMENT DEPARTMENT EFFECTIVE
Carol Liposky Sheriff 07/07/18 Anne Lloyd Health & Human Services 06/23/18 Vanese McLachlan Health & Human Services 06/23/18 Jon Peters Sheriff 05/30/18
Betty Tanner Health 07/07/18 Yvette Thrush Auditing 06/08/18
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes June 14, 2018 Page 2 5. Moved by Van Pelt, seconded by Ward to receive and file the minutes of May 24, 2018
Investment Subcommittee meeting. Motion carried. 6. Moved by Van Pelt, seconded by Rozell to receive and file the June 2018 securities
litigation report by The Miller Law Firm. Motion carried. 7. Moved by Van Pelt, seconded by Ward to receive and file the May 2, 2018 Defined Contribution (DC) 401(a) Plan Amendment and Restatement. Motion carried.
8. Moved by Van Pelt, seconded by Phelps to approve the Gabriel, Roeder, Smith & Co. Invoice No. 438284 in the amount of $24,500 for the 2018 retainer for Consulting Services.
Motion carried. 9. Peter Brown of AndCo Consulting distributed the following reports and provided brief comments summarizing highlights contained in each:
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan - Investment Performance Review Period Ending March 31, 2018
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan - Monthly Flash Report Period Ending May 31, 2018
• Oakland County Employees’ Retirement System (ERS) VEBA - Investment Performance Review Period Ending March 31, 2018
• Oakland County Employees’ Retirement System (ERS) VEBA - Monthly Flash Report Period Ending May 31, 2018 10. Agenda item 12a. was addressed in inverse order. Peter Brown of AndCo Consulting provided a verbal update on the Dune IV Certificate of Liability Insurance.
11. Moved by Siskind, seconded by Childs, 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, Childs, Ward, Middleton, Van Pelt, Phelps, Siskind Nays: None
Motion carried. Closed session commenced at 2:04 p.m. 12. Closed session concluded at 2:45 p.m., agenda resumed.
13. Other Business: a. Secretary Frank provided a verbal update on the Prudential Defined Contribution Recordkeeping conversion (401(a), 457(b), and Part-time Non-eligible 457 Plans). b. Chairperson VanLeuven noted the next meeting of this Board: i. July 26, 2018 – 1:30 p.m. 14. Chairperson VanLeuven adjourned the meeting without objection at 2:59 p.m.
Respectfully submitted, __________________________________ __________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary
