HomeMy WebLinkAboutMinutes - 2016.09.22 - 32414OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
September 22, 2016 at 1:30 p.m. in the West Oakland Conference Room.
Members Present: James H. VanLeuven Jr. Curtis Childs
Andy Meisner Thomas Middleton
Jeffrey Phelps Joseph Rozell
Lauri Siskind
Laurie VanPelt (designee of County Executive)
Christopher Ward (designee of Chairman, Board of Commissioners)
Others Present: Judy Fandale, Secretary
Jennifer Hain, Human Resources
Kathy Sanders, Human Resources
Rhonda VanTiflin, Human Resources
Keith Lerminiaux, Corporation Counsel
Ben Jones, Gregory J. Schwartz & Co.
Mike Valchine, NEPC
1. Moved by Meisner, seconded by Siskind, to approve the minutes of August 11, 2016.
Motion carried.
2. Meeting was opened for public comment. Secretary Fandale introduced new Retirement
Unit staff member, Rhonda VanTiflin.
3. Moved by Childs, seconded by Rozell, to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION
HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Doll, Brenda E. Deferred A - 100% Family (2) 10/05/2016
Gabriel, Laura A. Animal Control D - 100% Family (F) 10/20/2016
Haralabakos, Robert G. Health SL Family (1) 10/15/2016
Howald, Maureen V. Sheriff's SL Family (2) 10/15/2016
Nicotri, Paul T. Sheriff's B - 50% Family (2) 10/15/2016
Range, John W. Circuit Court A - 100% Family (F) 10/15/2016
4. Moved by Meisner, seconded by Phelps, to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT
HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Hoskins, Susan Lynn Deferred Family (2) 08/19/2016
Alspaugh, Aaron Sheriff’s Family (1) 10/08/2016
5. Moved by Rozell, seconded by VanPelt, to approve the Election Calendar for the employee
member term ending December 31, 2020. Motion carried.
6. Moved by Middleton, seconded by Ward, to receive and file the notice of reduction in fees
from Wells Capital Management. Motion carried.
7. Moved by VanPelt, seconded by Rozell, to receive and file the August 11, 2016 Investment
Subcommittee minutes. Motion carried.
Oakland County Retirement and Deferred Compensation Board Minutes
September 22, 2016
Page 2 of 2
8. Moved by VanPelt, seconded by Meisner, to receive and file the September 8, 2016
Investment Subcommittee minutes. Motion carried.
9. Moved by Meisner, seconded by Siskind, to approve the updated Statement of Investment
Guidelines and Objectives for RBC Global Asset Management to include the recommended
change to item C.6. in the investment guidelines. Motion carried.
10. Moved by Meisner, seconded by VanPelt, to receive and file the notice of reduction in
advisory fees for Pictet International Equity Fund. Motion carried.
11. Mike Valchine of NEPC made a presentation to the Board.
12. Moved by Rozell, seconded by Childs, to receive and file the September 2016 update on
securities litigation provided by The Miller Law Firm. Motion carried.
13. Moved by Rozell, seconded by Childs, to authorize the Secretary to issue and sign written
notice of intent to terminate to NEPC. Motion carried.
14. Moved by Meisner, seconded by Middleton, to initiate a request for proposal for a Defined
Contribution (401a) and Deferred Compensation (457b) consultant. Motion carried.
15. Moved by VanPelt, seconded by Meisner, to enter into negotiations with The Bogdahn
Group for consulting on the Defined Benefit, VEBA and Superseding Trust funds. Motion
carried.
16. Moved by Rozell, seconded by VanPelt, to postpone action on the Deferred Compensation
457(b) recordkeeper search. Motion carried.
a. Noted in discussion that, due to this approved motion, the previously scheduled
September 26 and October 18, 2016 Investment Subcommittee meetings shall be
cancelled.
17. Other business; Secretary Fandale circulated a proposed calendar of 2017 Board meeting
dates for review and consideration at the next meeting.
18. Moved by VanPelt, seconded by Rozell, to authorize Northern Trust to provide consultation
and assistance in preparing the GASB 72 statement at a cost not to exceed $6,000. Motion
carried.
19. Moved by Rozell, seconded by VanPelt, to adjourn the meeting at 2:15 p.m. Motion carried.
The next meeting is scheduled for Thursday, October 20, 2016 at 1:30 p.m.
Respectfully submitted,
____________________________________ ____________________________________
James H. VanLeuven Jr., Chairperson Judy D. Fandale, Secretary