HomeMy WebLinkAboutMinutes - 2019.06.20 - 32060OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held June 20,
2019 at 1:30 p.m. in the West Oakland Conference Room, L. Brooks Patterson Building.
Members Present:
James VanLeuven Jr.
Andy Meisner
Malcolm Brown
Jeff Phelps
Lauri Siskind
Members Absent: Helaine Zack (with notice)
Others Present:
Joseph RozeII
Dave Woodward
Curtis Childs
Jordie Kramer, Human Resources
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Kathy Sanders, Human Resources
Chris Kuhn, AndCo
Peter Brown, AndCo
Louise Gates, Gabriel, Roeder, Smith & Co.
Natalie Neph, Treasurer
Morgan Webb, Treasurer
1. Moved by Rozell, seconded by Siskind to approve the minutes of May 16, 2019. Motion
carried.
2. Meeting was opened for public comment. No one spoke.
3. Moved by Childs, seconded by Phelps to approve the following Defined Benefit retirement
applications. Motion carried.
RETIREMENT
DEPARTMENT EFFECTIVE
Toni Tiernan FM&O 06/15/2019
Milton Williams Sheriffs Office 08/18/2019
Robert Willis Deferred 06/10/2019
4. Moved by Childs, seconded by Rozell to approve the following Defined Contribution
retirement applications. Motion carried.
RETIREMENT
DEPARTMENT EFFECTIVE
John Dobrowiak Sheriffs Office 06/06/2019
James Saunders Sheriff's Office 06120/2019
Kimberly Stephens Deferred 07/01/2019
5. Chairperson VanLeuven appointed a Retiree Election ad hoc committee including
Trustees Rozell, Phelps, Childs.
6. Moved by Meisner, seconded by Phelps to receive and file the May 16, 2019 investment
Subcommittee minutes. Motion carried.
7. Moved by Siskind, seconded by Rozell to receive and file the executed VanOverbeke,
Michaud & Timmony, P.C. Legal Agreement. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 20, 2019
Page 2
8. Moved by Meisner, seconded by Rozell to receive and file the June 3, 2019 Administrative
Policies and Procedures ad hoc committee minutes. Motion carried.
9. Moved by Meisner, seconded by Childs to approve the Gabriel, Roeder, Smith and Co.
(GRS) Invoice No. 446911 in the amount of $2,243 for Minute Master services for calendar
year 2018. Motion carried.
10. Moved by Rozell, seconded by Siskind to receive and file the Election Committee
Statement certifying that James H. VanLeuven, Jr., unopposed candidate, will serve as the
Retiree Member for the term ending August 31, 2021, Motion carried.
11. Moved by Phelps, seconded by Meisner, to receive and file the Acceptance Statement of
James H. VanLeuven, Jr., who will serve as Retiree Member through August 31, 2021.
Motion carried.
12. Louise Gates of GRS presented the Oakland County Employees' Retirement System
Annual Actuarial Valuation Report as of September 30, 2018.
13. Chris Kuhn and Peter Brown of AndCo distributed the following reports and provided brief
comments summarizing highlights contained in each:
• Oakland County Employees' Retirement System (ERS) Investment Performance
Review Period Ending December 31, 2018
• Oakland County Employees' Retirement System (ERS) Monthly Flash Report
Period Ending May 31, 2019
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
Asset / Manager Summary -- June 13, 2019
14. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. provided an update on legal
matters.
a. Moved by Meisner, seconded by Siskind to receive and file the June 2019 update on
securities litigation by Miller Law Firm. Motion carried.
b. Aaron Castle distributed and briefly summarized the Spring 2019 MAPERS case and
Kendzierski case updates.
15. Other Business
a. Chairperson VanLeuven announced there will be an Investment Subcommittee
meeting on July 17, 2019 at 9:00 a.m. to review the Alternative Investments strategy.
b. Chairperson VanLeuven discussed the disbandment of the Oakland County Retiree
Association (OCRA) as it relates to the requirement for signatures in the Retiree
Election Rules and Regulations.
c. Trustee Brown provided an update on legal matters within the Oakland County
Employees' Retirement System.
d. Chairperson VanLeuven noted the next meeting of this Board:
i. July 18, 2019 — 1:30 p.m.
16. Chairperson VanLeuven adjourned the meeting without objection at 2:38 p.m.
Ite dt iXdL
Respectfully submitted,
mes H. VanLeuven, Jr., Ch?fy{Serson
Silvia Fra k, ecreta