HomeMy WebLinkAboutMinutes - 2018.12.11 - 30602OAKLAND COUNTY EMPLOYEES' RETIREMENT AND DEFERRED COMPENSATION BOARD INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation (OCRDC)
Board Investment Sub-Committee was held May 24, 2018 at 10:36 a.m. in the East Oakland Conference Room, Executive Office Building.
Members Present: James H. VanLeuven, Jr. Joseph Rozell Andy Meisner Laurie Van Pelt (designee of County Executive) Others Present: Jeff Phelps, OCRDC Commissioner Keith Lerminiaux, Corporation Counsel Jennifer Hain, Human Resources Silvia Frank, Human Resources Paige Ritchie, Human Resources Lisa Villella, Human Resources
Carly Webster, Human Resources Jason May, Graystone Consulting Freddie Sarno, Graystone Consulting Brian McCleave, Prudential Stephanie Smith, Prudential Francine Trimble, Prudential
Phillip Piesko, Prudential Dan Evans, Prudential Stacey Sieverding, Prudential 1. Meeting was open for public comment. No one spoke. 2. Brian McCleave introduced Stephanie Smith from Prudential. Stacey Sieverding and Dan Evans joined the meeting via conference call and provided a verbal update on the Prudential Defined Contribution Recordkeeping conversion (401(a), 457 (b), and Part-time Non-eligible 457 Plans.)
3. Francine Trimble and Phillip Piesko of Prudential presented to the Sub-committee and provided accompanying material:
• Prudential Pathways: Driving Financial Wellness Engagement
4. The meeting was adjourned without objection at 11:48 a.m.
Respectfully submitted, ________________________________ ________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary
OAKLAND COUNTY EMPLOYEES' RETIREMENT AND DEFERRED COMPENSATION BOARD INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation (OCRDC)
Board Investment Sub-Committee was held October 25, 2018 at 10:00 a.m. in the East Oakland Conference Room, Executive Office Building.
Members Present: James H. VanLeuven, Jr. Joseph Rozell Andy Meisner Laurie Van Pelt (designee of County Executive) Others Present: Curtis Childs, OCRDC Commissioner Lauri Siskind, OCRDC Commissioner Silvia Frank, Human Resources Carly Webster, Human Resources Chris Kuhn, AndCo Consulting Peter Brown, AndCo Consulting
1. Meeting was open for public comment. No one spoke. 2. Chris Kuhn & Peter Brown of AndCo Consulting presented the following reports:
• Oakland County Employees’ Retirement System (OCERS) Portfolio Review as of October 25, 2018
• Oakland County Employees’ Retirement System (OCERS) Defined Benefit Plan Monthly Flash Report – Period Ending September 30, 2018
• Oakland County Employees’ Retirement System Asset / Manager Summary – October 25, 2018
Discussion followed regarding the following portfolio considerations and investment strategies:
• Munder Capital and Seizert Capital Partners, Mid Cap Equity
• International Small Cap
• Direct Lending
• Distressed Lending Small Cap
• Other Alternatives 3. The meeting was adjourned without objection at 11:32 a.m. Respectfully submitted,
________________________________ ________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary
OAKLAND COUNTY EMPLOYEES' RETIREMENT AND DEFERRED COMPENSATION BOARD INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation (OCRDC)
Board Investment Sub-Committee was held December 11, 2018 at 10:00 a.m. in the West Oakland Conference Room, Executive Office Building.
Members Present: James H. VanLeuven, Jr. Joseph Rozell Andy Meisner Laurie Van Pelt (designee of County Executive) Others Present: Jeff Phelps, OCRDC Commissioner Tom Middleton, OCRDC Commissioner Silvia Frank, Human Resources Carly Webster, Human Resources Chris Kuhn, AndCo Consulting Peter Brown, AndCo Consulting
1. Meeting was open for public comment. No one spoke. 2. Moved by Meisner, seconded by Rozell to amend the agenda by adding Retiree Health Savings (RHS) to item 3. Forfeiture Assets in the 401(a) and 457(b) Plans.
3. Chris Kuhn & Peter Brown of AndCo Consulting presented the following reports:
• Oakland County Employees’ Retirement System (OCERS) Defined Benefit Plan Monthly Flash Report – Period Ending November 30, 2018
• Oakland County Employees’ Retirement System Asset / Manager Summary – December 13, 2018
• Oakland County Employees’ Retirement System – VEBA Asset / Manager Summary – December 13, 2018
• Oakland County Employees’ Retirement System US Small/Mid Cap Core Equity Manager Analysis – December 11, 2018
Moved by Rozell, seconded by Meisner to interview the following Investment Managers for SMID strategy: Ancora Advisors, Great Lakes Advisors, Reinhart Partners and Clarkston Capital Partners on January 15, 2019 at 9:00 a.m. Motion carried. 4. Moved by Van Pelt, seconded by Meisner to move all the forfeiture assets in the 401(a) and 457(b) to the Prudential Guaranteed Income Fund and the Retiree Health Savings (RHS) forfeitures into the Fidelity Inv Money Market Government Port III. 5. Moved by Rozell, seconded by Van Pelt to adjourn the meeting at 11:28 a.m. Motion carried.
Respectfully submitted,
________________________________ ________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary