HomeMy WebLinkAboutMinutes - 2017.06.22 - 32423OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held June 22,
2017 at 1:35 p.m. in the East Oakland Conference Room of the Executive Office Building.
Members Present: James H. VanLeuven, Jr. Curtis Childs
Andy Meisner Thomas Middleton
Jeffrey Phelps Lauri Siskind
Laurie Van Pelt (designee of County Executive)
Christopher Ward (designee of Chairperson, BOC)
Members Absent: Joseph Rozell, with notice
Others Present: Rhonda Van Tiflin, Human Resources
Paige Ritchie, Human Resources
Jennifer Hain, Human Resources
Natalie Neph, Treasurer’s Office
Rommy Hage, Treasurer’s Office
Louise Gates, Gabriel Roeder Smith
Andrea Leistra, Munder (Victory) Capital Management
Robert Crosby, Munder (Victory) Capital Management
Christopher Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
Jason Ashline, ICMA-RC
Ken Wedemeyer, ICMA-RC
1. Moved by Meisner, seconded by Siskind, to approve the minutes of May 25, 2017. Motion
carried.
2. Meeting was opened for public comment; Meisner introduced Mr. Rommy Hage, intern from
the Treasurer’s office observing today.
3. Moved by Childs, seconded by Phelps, to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Nelson, Shelley Circuit Court 07/18/2017
Rosado, Candace Health 08/15/2017
Wonsowicz, Karen Circuit Court 07/29/2017
4. Moved by Van Pelt, seconded by Middleton, to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Allen, Karen Circuit Court 06/24/2017
Anderson, Margueritte 52-3 District Court 06/17/2017
Grandetti, Stephen Sheriff’s 05/26/2017
McCarthy, John Equalization 07/01/2017
Neff, Mary 52-4 District Court 06/17/2017
Ray, Bridgett Probate Court 06/24/2017
5. Moved by Childs, seconded by Siskind, to approve the Defined Contribution non-duty death
benefit of Shane Jenkinson, beneficiary Kristina Jenkinson, with Retirement effective date
May 21, 2017. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
June 22, 2017
Page 2
6. Moved by Meisner, seconded by Phelps, to receive and file the Investment Subcommittee
minutes of May 25, 2017. Motion carried.
7. Moved by Van Pelt, seconded by Siskind, to receive and file the June 2017 securities
litigation Portfolio Monitoring Review report by The Miller Law Firm. Motion carried.
8. Moved by Van Pelt, seconded by Phelps, to receive and file the Acceptance Statement of
unopposed candidate, James H. VanLeuven, Jr., who will serve as Retiree Commissioner
through August 31, 2019. Motion carried.
9. Louise Gates of Gabriel Roeder Smith (GRS) presented the September 30, 2016 Oakland
County Employees Retirement System Actuarial Valuation Report.
a. Moved by Middleton, seconded by Siskind, to receive and file the September 30,
2016 Oakland County Employees Retirement System Actuarial Valuation Report.
Motion carried.
b. Moved by Van Pelt, seconded by Meisner to approve the following transfers as listed
on page A-2 of the report. Motion carried.
i. Transfer $48,571,747 from the Pension Reserve - General County Fund to
the Retirement Reserve-General County Fund.
ii. Transfer $4,858,562 from the Pension Reserve-Sheriffs Command Officers
Fund to the Retirement Reserve-Sheriffs Command Officers Fund.
iii. Transfer $12,449,976 from the Pension Reserve-Sheriff Deputies Fund to the
Retirement Reserve-Sheriff Deputies Fund.
10. Andrea Leistra and Robert Crosby of Munder (Victory) Capital Management made a
presentation to the Board.
11. Moved by Meisner, seconded by Childs, to approve payment for GRS invoice no. 430925 in
the amount of $2,142 for January 1 – December 31, 2016 Minute Master services.
12. Chris Kuhn and Peter Brown of AndCo Consulting made a presentation to the Board and
distributed the following:
a. Oakland County ERS Defined Benefit Plan – Investment Performance Review for
Period Ending March 31, 2017
b. Oakland County ERS Defined Benefit Plan - Monthly Flash Report for the Period
Ending May 31, 2017
c. Oakland County Employees’ Retirement System – Asset/Manager Summary - June
2017
d. Market Update – May 31, 2017
e. DRAFT Investment Policy Statement (to be reviewed at the July 27, 2017 meeting)
13. Other Business:
a. Ms. Gates advises that GRS is considering discontinuing death search services due
to increased government regulations; discussion ensued regarding alternative
sources for obtaining these services through PBI (Pension Benefit Information)
Research Services. Assistant Secretary Van Tiflin is to investigate this alternative.
b. Chairperson VanLeuven references availability of MAPERS and NAGDCA fall
conference offerings detailed on the agenda for individual Commissioner
consideration.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
June 22, 2017
Page 3
c. Chairperson VanLeuven announces the 401a/457/PTNE/RHS/IRA plans
recordkeeper RFP is to be distributed Monday, June 26th by Graystone. Assistant
Secretary Van Tiflin is to provide the Board redline edits made to the second version
of the RFP provided by Graystone.
d. Chairperson VanLeuven requests Investment Subcommittee meetings be scheduled
on the following dates by Assistant Secretary Van Tiflin, subject to meeting room
availability:
i. July 27, 2017
ii. August 14, 2017
iii. August 16, 2017
iv. August 24, 2017
14. Chairperson VanLeuven adjourned the meeting without objection at 3:14 p.m.
The next meeting is scheduled for Thursday, July 27, 2017 at 1:30 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Rhonda Van Tiflin, Assistant Secretary