HomeMy WebLinkAboutMinutes - 2016.04.21 - 32407OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held April 21,
2016 at 1:30 p.m. in the W est Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Andy Meisner
Jeffrey Phelps Joseph Rozell
Lauri Siskind
Laurie VanPelt (designee of County Executive)
Members Absent: Curtis Childs, with notice
Eileen Kowall (designee of Chairman, BOC)
Thomas Middleton, with notice
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Megan Navarre, Human Resources
Keith Lerminiaux, Corporation Counsel
Kim Kaczor, NEPC
Kevin Leonard, NEPC
Mike Valchine, NEPC
David Collon, Seizert
Paul Seizert, Seizert
Jason Ashline, ICMA-RC
Ken Wedemeyer, ICMA-RC
David Breuhan, Schwartz & Co.
Malcolm Brown, County Executive Office
Michael Gingell, Board of Commissioners
1. Moved by Phelps, seconded by Meisner to approve the minutes of March 31, 2016. Motion
carried.
2. Meeting was opened for public comment; no one spoke.
3. Moved by Rozell, seconded by Meisner to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Cebulski, Linda Equalization D-50% Family (2) 04/29/2016
Farley, Charles Sheriff C-10 yrs Family (F) 04/30/2016
Feldman, Barbara Deferred A-100% Family (F) 05/02/2016
Stewart, David Sheriff A-100% Family (F) 04/30/2016
Stowe, Duane FM&O SL Family (1) 04/23/2016
4. Moved by Siskind, seconded by Rozell to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Foreman, William Sheriff Family (F) 06/25/2016
Hassinger, Kimberly Community Corrections Family (2) 06/01/2016
Lim, Anna Health RHS-C 04/16/2016
Smith, Tamara Equalization Family (F) 06/11/2016
Weir, Beverly Health Family (1) 05/24/2016
Retirement Minutes April 21, 2016
Page 2
5. Commissioner Gingell drew four names for the 1st quarter 2016 REAP drawing. The winners
of a $100 Visa gift card are Stacey Campbell, Equalization for attending an ICMA-RC
presentation; Katherine Siebenaler, Circuit Court for attending an ICMA-RC presentation;
Christen Hayes, Health for attending a Fidelity 1:1 and Linda Renda, FOC for attending an
ICMA-RC 1:1.
6. Moved by VanPelt, seconded by Meisner to receive and file the 2015 Oakland County
Retirement and Deferred Compensation annual report. Motion carried.
7. Moved by VanPelt, seconded by Phelps to receive and file the 1st quarter 2016 Defined
Benefit and Defined Contribution report. Motion carried
8. Moved by VanPelt, seconded by Meisner to approve the 2016 Defined Benefit annual
increase of 1.5% for members retired prior to May 2, 2015 except as follows:
• 0% for members retired January 1 through May 1, 2015
• 1.08% for members retired 5/2/2014 through 12/31/2014
• .95% for members retired 5/2/2013 through 12/31/2013
• Individuals that retired January 1 through May 1, 2013 and January 1 through May 1,
2014 will not receive a pay increase. They may receive a pay decrease if the Board
of Commissioners does not approve the proposed amendment to the Defined Benefit
Plan Document section 34.6. Motion carried.
9. Moved by Rozell, seconded by Siskind to move into closed session. Roll call vote, motion
carried unanimously.
Chairman VanLeuven declared the session re-opened.
Moved by Rozell, seconded by Phelps to approve a non-duty disability Defined Contribution
retirement application. Motion carried.
10. Moved by VanPelt, seconded by Rozell to move into closed session. Roll call vote, motion
carried unanimously.
The Board was advised of the Deferred Compensation 457(b) IRS audit status. Chairman
VanLeuven declared the session re-opened.
11. David Collon and Paul Seizert, Seizert Capital Partners presented the Mid Cap Equity fund
report to the board.
12. Kim Kaczor, Mike Valchine and Kevin Leonard, NEPC presented the March 2016 Flash
report to the Board. NEPC will conduct an asset liability study and present their findings to
the Board by July 2016.
13. Moved by Rozell, seconded by VanPelt to issue a request for proposal for the Oakland
County Deferred Compensation plan. Motion carried.
14. Moved by VanPelt, seconded by Siskind to adjourn the meeting at 3:30 p.m. Motion carried.
The next meeting is scheduled for Thursday, May 26, 2016 at 1:30 p.m.
Respectfully submitted,
____________________________________ ____________________________________
James H. VanLeuven, Jr. – Chairperson Judy D. Fandale, Secretary