HomeMy WebLinkAboutMinutes - 2018.03.22 - 30444OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held March 22, 2018 at 3:52 p.m. in the West Oakland Conference Room, Executive Office Building.
Members Present: Joseph Rozell 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: James H. VanLeuven, Jr., with notice Others Present: Keith Lerminiaux, Corporation Counsel
Malcolm Brown, County Executive Mark Newman, County Executive
Silvia Frank, Human Resources Jennifer Hain, Human Resources
Paige Ritchie, Human Resources Carly Webster, Human Resources
Chris Kuhn, AndCo Peter Brown, AndCo
Vice Chairperson Rozell chaired the meeting 1. Moved by Meisner, seconded by Phelps to approve the minutes of February 22, 2018.
Motion carried.
2. Meeting was opened for public comment; no one spoke.
3. Chris Kuhn and Peter Brown of AndCo Consulting distributed the following reports and provided brief comments summarizing highlights contained in each:
• Oakland County ERS VEBA – Asset/Manager Summary – March 22, 2018
• Oakland County ERS VEBA Plan Monthly Flash Report – Investment Performance Review Period Ending December 31, 2017
• Oakland County Employees’ Retirement System (ERS) VEBA – Investment
Performance Review Period ending December 31, 2017
• RBC Global Asset Management – Small Cap Growth Memo
a. Moved by Siskind seconded by Middleton to approve the termination of RBC as small cap growth manager and transition assets to the Loomis,
Sayles small cap growth accounts. Motion carried.
• Oakland County ERS Superseding Trust – Investment Performance Review
Period Ending December 31, 2017
• Oakland County ERS Superseding Trust Monthly Flash Report – Investment Performance Review Period Ending February 28, 2018
• Oakland County ERS – Superseding Trust Asset/Manager Summary – March 22, 2018
Oakland County VEBA Board Minutes March 22, 2018 Page 2
4. Other Business: a. Laurie Van Pelt noted that the Superseding Trust financial statements for the
County’s Comprehensive Annual Financial Report (CAFR) will change the reporting location within the CAFR document going forward. This reporting
change is accordance with updated the Governmental Accounting Standards Board (GASB) implementation guidance. (See attached document for additional information – document was not part of the March 2018 Retirement
Board agenda).
5. The meeting adjourned without objection at 3:56 p.m.
The next VEBA Board meeting is scheduled for Thursday, April 26, 2018, immediately following the Retirement and Deferred Compensation Board meeting.
Respectfully submitted,
__________________________________ ____________________________________
Joseph Rozell, Vice Chairperson Silvia Frank, Secretary