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HomeMy WebLinkAboutMinutes - 2015.12.01 - 30453OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held January 22, 2015 at 3:15 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D'Arcy Gonzales Curtis Childs Jeffrey Phelps Andy Meisner Thomas Middleton Joseph Rozell Laurie VanPelt (designee of County Executive) Members Absent: Eileen Kowall Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Keith Lerminiaux, Counsel to the Board Natalie Neph, Treasurer’s Office George Tarlas, ACG Rebecca Holtz, Oakland County Retiree Secretary Judy Fandale chaired the meeting. 1. Moved by VanPelt, seconded by VanLeuven to approve the minutes of December 11, 2014. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Gonzales, seconded by Middleton that James H. VanLeuven, Jr. be nominated for Chairperson. Moved by Middleton, seconded by VanPelt that nominations be closed and a unanimous ballot be cast. Motion carried. Chairperson James H. VanLeuven, Jr. assumed the chair. 3a. Moved by Rozell, seconded by Childs that Jeffrey Phelps be nominated for Vice Chairperson. Moved by Middleton, seconded by Gonzales that nominations be closed and a unanimous ballot be cast. Motion carried. 4. Moved by Rozell, seconded by Childs to receive and file the September 30, 2014 year-end report on the 2013 Superseding Trust fund. Motion carried. 5. Moved by VanPelt, seconded by Phelps to adjourn the meeting at 3:20 p.m. Motion carried. The next meeting is scheduled for February 19, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held February 19, 2015 at 3:00 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Jeffrey Phelps Curtis Childs Joseph Rozell Andy Meisner Eileen Kowall (designee Chairman, Board of Commissioner) Laurie VanPelt (designee of County Executive) Members Absent: D'Arcy Gonzales, with notice Thomas Middleton, without notice Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Paige Ritchie, Human Resources Lisa Villella, Human Resources Keith Lerminiaux, Counsel to the Board Sandra Rouse-Thames, ICMA-RC Rebecca Holtz, Oakland County Retiree 1. Moved by VanPelt, seconded by Meisner to approve the minutes of January 22, 2015. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Rozell, seconded by Kowall to adjourn the meeting at 3:05 p.m. Motion carried. The next meeting is scheduled for March 19, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held March 19, 2015 at 2:45 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D'Arcy Gonzales Curtis Childs Thomas Middleton Andy Meisner Joseph Rozell Eileen Kowall (designee Chairman, Board of Commissioner) Laurie VanPelt (designee of County Executive) Members Absent: Jeff Phelps, with notice Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Keith Lerminiaux, Counsel to the Board George Tarlas, ACG 1. Moved by Meisner, seconded Kowall by to approve the minutes of February 19, 2015. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Childs, seconded by Gonzales to adjourn the meeting at 3:50 p.m. Motion carried. The next meeting is scheduled for Tuesday, April 28, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES (Amended) The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held April 28, 2015 at 2:57 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D'Arcy Gonzales Andy Meisner Joseph Rozell Eileen Kowall (designee Chairman, Board of Commissioner) Laurie VanPelt (designee of County Executive) Members Absent: Curtis Childs, with notice Thomas Middleton, with notice Jeff Phelps, with notice Others Present: Judy Fandale, Human Resources Megan Navarre, Human Resources George Tarlas, ACG 1. Moved by Meisner, seconded Gonzales by to approve the minutes of March 19, 2015. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Louise Gates, GRS presented the September 30, 2014 Oakland County Oakland County Retiree Health Fund Actuarial Reports to the Board during the Retirement and Deferred Compensation Board meeting. Moved by VanPelt, seconded by Meisner to receive and file the September 30, 2014 Retiree Health Care Trust actuarial valuation report. Motion carried. 4. Move by Meisner, seconded by Kowall to authorize Gabriel, Roeder, Smith & Co to recalculate the mortality table and wage inflation used for future actuarial valuations. Motion carried. 5. Moved by Meisner, seconded by Rozell to adjourn the meeting at 3:00 p.m. Motion carried. The next meeting is scheduled for Thursday, May 14, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held May 14, 2015 at 3:20p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Andy Meisner Thomas Middleton Jeffrey Phelps Joseph Rozell Laurie VanPelt (designee of County Executive) Members Absent: Eileen Kowall, with notice D'Arcy Gonzales Others Present: Judy Fandale, Human Resources Megan Navarre, Human Resources Jennifer Hain, Human Resources Paige Ritchie, Human Resources Daniel Anderson, Fidelity Investments Douglas Davis, Fidelity Investments Leslie Simsich, Fidelity Investments Roger Trapp, Fidelity Investments 1. Moved by Meisner, seconded by Childs the minutes of the April 28, 2015 Voluntary Employees’ Beneficiary Association Board Meeting be approved Discussion followed. 1a. Moved by VanPelt supported by Middleton to amend the minutes of the April 28, 2015 Voluntary Employees’ Beneficiary Association Board meeting as follows: Please Add: Louise Gates, GRS presented the September 30, 2014 Oakland County Oakland County Retiree Health Fund Actuarial Reports to the Board during the Retirement and Deferred Compensation Board meeting. A sufficient majority having voted in favor, the minutes of the April 28, 2015 Voluntary Employees’ Beneficiary Association Board Meeting, as amended, was approved. 2. Meeting was opened for public comment. No one spoke. 3. Moved by VanPelt, seconded by Rozell to adjourn the meeting at 3:25pm. Motion carried. The next meeting is scheduled for Thursday, June 18, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held June 18, 2015 at 3:30p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs D'Arcy Gonzales Andy Meisner Thomas Middleton Jeffrey Phelps Joseph Rozell Laurie VanPelt (designee of County Executive) Members Absent: Eileen Kowall (designee of Chairman Board of Commissioners), with notice Others Present: Judy Fandale, Human Resources Megan Navarre, Human Resources Natalie Neph, Treasurers Justin Blitchok, Treasurers George Tarlas, ACG 1. Moved by Meisner, seconded by Rozell to approve the minutes of the May 14, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Phelps, seconded by Gonzales to adjourn the meeting at 3:35pm. Motion carried. The next meeting is scheduled for Thursday, July 23, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held July 23, 2015 at 2:55 p.m. in the East Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs D’Arcy Gonzales Thomas Middleton Laurie VanPelt (designee of County Executive) Members Absent: Jeffrey Phelps, with notice Andy Meisner, with notice Joseph Rozell, with notice Eileen Kowall, with notice Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Paige Ritchie, Human Resources Keith Lerminiaux, Corporation Counsel George Tarlas, ACG Joe Nugent, ACG David Breuhan, Gregory J. Schwartz & Co. Scott Brown, Morgan Stanley 1. Moved by Middleton, seconded by VanPelt to approve the minutes of the June 18, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by VanPelt, seconded by Gonzales to approve the invoice from Gabriel, Roeder, Smith & Co. in the amount of $24,000 for regular retainer services provided to the Oakland County Voluntary Employees Beneficiary Association (VEBA) for 2015. Motion carried. 4. Moved by Gonzales, seconded by VanPelt to allocate $10 million to the Walton Street Real Estate Opportunistic Fund VIII subject to a mutually accepted subscription Agreement. Motion carried. The next meeting is scheduled for Thursday, August 20, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held August 20, 2015 at 2:45 p.m. in the East Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Jeffrey Phelps Andy Meisner D’Arcy Gonzales Thomas Middleton Eileen Kowall (designee of Board of Commissioners Chairperson) Members Absent: Joseph Rozell, with notice Laurie VanPelt, with notice Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Paige Ritchie, Human Resources Keith Lerminiaux, Corporation Counsel George Tarlas, ACG Kevin Smith, Prudential Ben Jones, Gregory J. Schwartz & Co. 1. Moved by Middleton, seconded by Kowall to approve the minutes of the July 23, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Gonzales, seconded by Kowall to approve the invoice from Gabriel, Roeder, Smith & Co. in the amount of $2,125 for updating the minutes and other related items for January 1, 2014 through December 31, 2014 on the Minute Master system. Motion carried. 4. Moved by Meisner, seconded by Gonzales to adjourn the meeting at 2:50 p.m. Motion carried. The next meeting is scheduled for Thursday, September 17, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held September 17, 2015 at 2:30 p.m. in the East Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Jeffrey Phelps Andy Meisner D’Arcy Gonzales Thomas Middleton Joseph Rozell Eileen Kowall (designee of Board of Commissioners Chairperson) Laurie VanPelt (designee of County Executive) Members Absent: None Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Paige Ritchie, Human Resources Keith Lerminiaux, Corporation Counsel David Breuhan, Gregory J. Schwartz & Co. Ben Jones, Gregory J. Schwartz & Co. Ed Schwartz, Gregory J. Schwartz & Co 1. Moved by Meisner, seconded by Gonzales to approve the minutes of the August 20, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Meisner, seconded by Gonzales to adjourn the meeting at 2:35 p.m. Motion carried. The next meeting is scheduled for Thursday, October 22, 2015, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held October 22, 2015 at 3:50 p.m. in the East Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Jeffrey Phelps Andy Meisner Joseph Rozell Thomas Middleton Eileen Kowall (designee of Board of Commissioners Chairperson) Laurie VanPelt (designee of County Executive) Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Natalie Neph, Treasurers Keith Lerminiaux, Corporation Counsel David Breuhan, Gregory J. Schwartz & Co. 1. Moved by Kowall, seconded by Middleton to approve the minutes of the September 17, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Middleton, seconded by Kowall to reaffirm the Boards commitment to invest $10 million with Walton Street Real Estate Opportunistic Fund VIII upon approval of a contract. Motion carried. 4. Moved by Rozell, seconded by Phelps to hire NEPC for the Voluntary Employees’ Beneficiary Association consultant subject to the successful negotiation of a fixed fee, five year agreement. Motion carried. 5. Moved by Kowall, seconded by Middleton to adjourn the meeting at 4:00 p.m. Motion carried. Next Board meeting is scheduled for Thursday, November 19, 2015, immediately following the Retirement and Deferred Compensation Board meeting Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held November 19, 2015 at 2:25 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Jeffrey Phelps Andy Meisner Joseph Rozell Thomas Middleton Eileen Kowall (designee of Board of Commissioners Chairperson) Laurie VanPelt (designee of County Executive) Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Keith Lerminiaux, Corporation Counsel 1. Moved by Kowall, seconded by Middleton to approve the minutes of the October 22, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Meisner, seconded by VanPelt to adjourn the meeting at 2:30 p.m. Motion carried. Next Board meeting is scheduled for Thursday, December 10, 2015, immediately following the Retirement and Deferred Compensation Board meeting Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held December 10, 2015 at 3:05 p.m. in the East Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Curtis Childs Jeffrey Phelps Andy Meisner Joseph Rozell Thomas Middleton Laurie VanPelt (designee of County Executive) Members Absent: Eileen Kowall (designee of Board of Commissioners Chairperson) Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Keith Lerminiaux, Corporation Counsel 1. Moved by Middleton, seconded by Phelps to approve the minutes of the November 19, 2015 Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. The Miller Law firm made a presentation to the board with regard to securities litigation. 3. Moved by Meisner, seconded by Middleton to adjourn the meeting at 3:35 p.m. Motion carried. Next Board meeting is scheduled for Thursday, January 14, 2016, immediately following the Retirement and Deferred Compensation Board meeting Respectfully submitted, ____________________________________ ____________________________________ James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary