HomeMy WebLinkAboutMinutes - 2016.03.31 - 32406OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held March
31, 2016 at 1:30 p.m. in the W est Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Curtis Childs
Andy Meisner Jeffrey Phelps
Lauri Siskind
Laurie VanPelt (designee of County Executive)
Members Absent: Thomas Middleton, with notice
Joseph Rozell, with notice
Eileen Kowall, with notice
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Megan Navarre, Human Resources
Keith Lerminiaux, Corporation Counsel
Louise Gates, GRS
Doug Moseley, NEPC
David Breuhan, Schwartz & Co.
Malcolm Brown, County Executive office
1. Moved by Meisner, seconded by VanPelt to approve the minutes of February 25, 2016.
Motion carried.
2. Meeting was opened for public comment; no one spoke.
3. Moved by Phelps, seconded by Childs to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Clarfelt, Larry Circuit Court D – 100% RHS-C 04/30/2016
Jackson, Garry Deferred SL Family (1) 05/09/2016
Kohn, Karen Parks & Rec A – 100% Family (2) 06/01/2016
Slabinski, Kimberly Reimbursement D – 100% Family (2) 04/08/2016
Tardugno, Tamara 52-4 District Court B – 50% Family (1) 04/30/2016
Shifman, Errol Deferred SL Family (1) 03/29/2016
4. Moved by Childs, seconded by VanPelt to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Gilmore, Lisa Health Family (2) 03/05/2016
McCall, Kevin Deferred Family (F) 03/14/2016
McCarron, Jane FOC 80% 04/16/2016
Smith, Vickie Support Services RHS-C 03/02/2016
Stinson, Chris IT Family (1) 04/02/2016
Susalla, Angela Sheriff Family (1) 04/30/2016
Retirement Minutes March 31, 2016
Page 2
5. Moved by VanPelt, seconded by Childs to appoint Keith Lerminiaux, Corporation Counsel to
research and prepare a resolution to be presented to the Board of Commissioners that
would include language that will prevent Defined Benefit retirees from receiving a decrease
of their previously redetermined pension when applying Rule 34 of the Defined Benefit plan
document for the annual Defined Benefit increase. Motion carried; Chairperson VanLeuven
abstained from voting.
6. Moved by Meisner, seconded by Childs to receive and file the March 29, 2016 Investment
Subcommittee meeting minutes. Motion carried.
7. Moved by Childs, seconded by Siskind to move into closed session. Roll call vote, motion
carried unanimously.
The Board was advised of the Deferred Compensation 457(b) IRS audit findings and
resolution. Moved by VanPelt, seconded by Phelps to return to open session. Motion
carried.
8. Louise Gates, Gabriel Roeder Smith presented the September 30, 2015 Oakland
County Employees Retirement System Actuarial Valuation report. Moved by Siskind,
seconded by VanPelt to approve the following transfers as listed on page A-2 of the report.
Motion carried.
8a. Transfer $30,476,804 from the Pension Reserve - General County Fund to the
Retirement Reserve-General County Fund.
8b. Transfer $2,621,784 from the Pension Reserve-Sheriffs Command Officers Fund
to the Retirement Reserve-Sheriffs Command Officers Fund.
8c. Transfer $9,433,093 from the Pension Reserve-Sheriff Deputies Fund to the
Retirement Reserve-Sheriff Deputies Fund.
9. Doug Moseley, NEPC presented the February 2016 Flash report to the Board.
10. Moved by Childs, seconded by Siskind to receive and file the Portfolio Monitoring report
provided by the Miller law firm. Motion carried.
11. Moved by VanPelt, seconded by Childs to adjourn the meeting at 3:05 p.m. Motion carried.
The next meeting is scheduled for Thursday, April 21, 2016 at 1:30 p.m.
Respectfully submitted,
____________________________________ ____________________________________
James H. VanLeuven, Jr. – Chairperson Judy Fandale, Secretary