HomeMy WebLinkAboutMinutes - 2017.12.14 - 32429OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
December 14, 2017 at 1:32 p.m. in the East Oakland Conf erence Room, Executive Office
Building.
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Curtis Childs Thomas Middleton
Jeffrey Phelps
Lauri Siskind
Christopher Ward (designee of Chairperson, BOC)
Laurie Van Pelt (designee of County Executive)
Member(s) Absent: Andy Meisner, with notice
Others Present: Keith Lerminiaux, Corporation Counsel
Silvia Frank, Human Resources
Jennifer Hain, Human Resources
Paige Ritchie, Human Resources
Natalie Neph, Treasurer
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
Charlie Price, Pictet
Doug Balleine, Pictet
Joe Jackaloney, Student Intern/Corporation Counsel
1. Moved by Siskind, seconded by Phelps to approve the minutes of November 16, 2017.
Motion carried.
2. Meeting was opened for public comment; no one spoke.
3. Moved by Childs, seconded by Rozell to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT RETIREMENT EFFECTIVE
Jane Kessler Health 01/20/18
Rosie M Jordan Childrens Village 01/26/18
Diane Peters Sheriff 12/28/17
Robert Proundfoot Circuit Court 01/27/18
4. Moved by Rozell, seconded by Siskind, to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT
RETIREMENT
EFFECTIVE
Richard Craine II WRC 02/03/18
Deanna Hylla Corporation Counsel 01/05/18
Joseph T. Racey Jr. Circuit Court 01/09/18
5. Moved by Middleton, seconded by Van Pelt to receive and file the additional Death Benefit
language to the Defined Contribution Retirement Plan document. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
December 14, 2017
Page 2
6. Moved by Childs, seconded by Rozell to approve the Defined Contribution duty death
benefit of Eric Overall, beneficiaries - Sonja Overall and Kenneth Overall, with retirement
effective date, November 24, 2017. Motion carried.
7. Moved by Van Pelt, seconded by Childs to receive and file the November 27, 2017
Investment Subcommittee meeting minutes.
8. Moved by Siskind, seconded by Van Pelt to receive and file the December 2017 securities
litigation Portfolio Monitoring Review report by the Miller Law Firm. Motion carried.
9. Charlie Price and Doug Ballenine of Pictet presented EAFE Equities to the Board.
10. Chris Kuhn and Peter Brown of AndCo Consulting distributed the following reports and
provided brief comments summarizing highlights contained in each:
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan -
Investment Performance Review Period Ending September 30, 2017
• Market Update – November 30, 2017
• Oakland County ERS – Asset/Manager Summary – December 14, 2017
• Oakland County ERS Defined Benefit Plan Monthly Flash Report – Investment
Performance Review Period Ending November 30, 2017
11. Other Business:
a. Keith Lerminiaux provided a verbal update on contract negotiations with Prudential
for the Defined Contribution Recordkeeping conversion (401(a), 457, and Part-time
Non-eligible 457 Plans).
b. Chairperson VanLeuven informed the Board of a Defined Contribution Non-Duty
Disability Application consideration for the January 11, 2018 meeting.
c. Chairperson VanLeuven noted upcoming meetings:
i. January 11, 2108 – 1:30 p.m. Oakland County Employees’ Retirement
and Deferred Compensation Board
12. Chairperson VanLeuven adjourned the meeting without objection at 3:10 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary