HomeMy WebLinkAboutMinutes - 2015.02.19 - 32433OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held February
19, 2015 at 1:35 p.m. in the W est Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Jeffrey Phelps
Curtis Childs Joseph Rozell
Andy Meisner
Eileen Kowall (designee of Chairman, Board of Commissioners)
Laurie VanPelt (designee of County Executive)
Members Absent: D'Arcy Gonzales, with notice
Thomas Middleton, without notice
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Megan Navarre, Human Resources
Paige Ritchie, Human Resources
Lisa Villella, Human Resources
Keith Lerminiaux, Counsel to the Board
John McCann, ICMA-RC
Sandra Rouse-Thames, ICMA-RC
Nancy Lange, ICMA-RC
David Breuhan, Schwartz & Co
Janette Schad, Schwartz & Co
Ben Jones, Schwartz & Co
Rebecca Holtz, Oakland County Retiree
1. Moved by Meisner, seconded by Rozell to approve the minutes of January 22, 2015. Motion
carried.
2. Meeting was opened for public comment; the committee welcomed Commissioner Kowall.
3. Moved by VanPelt, seconded by Meisner to approve the following Defined Benefit
retirement applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Clarfelt, Margo Childrens Village A-100% Family (2) 02-21-2015
Rose, Terri Health D-100% Family (F) 03-21-2015
Stoll, Carol Deferred A-100% Family (2) 03-18-2015
4. Moved by Phelps, seconded by Childs to approve the following Defined Contribution
retirement applications. Motion carried
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Altman, Kathleen Health Dept 80% 02-28-2015
Barry, Michelle FOC Family (2) 03-04-2015
Crawford, Kathleen Parks & Rec Family (1) 02-19-2015
Graves, Linda Health Family (2) 02-28-2015
Johnson, Karen Circuit Court Family (F) 03-03-2015
Mansch, Mary FOC 72% 03-07-2015
Retirement Minutes February 19, 2015
Page 2
5. Moved by Meisner, seconded by Kowall to receive and file the 2014 OCERS Securities
Litigation report. Motion carried.
6. Moved by VanPelt, seconded by Kowall to approve the invoice from Gabriel, Roeder Smith
and Co. in the amount of $10,000 for the GASB 67 actuarial valuation. Motion carried.
7. John McCann, Sandra Rouse-Thames and Nancy Lange from ICMA-RC made a
presentation to the board.
7a. Moved by VanPelt, seconded by Meisner to provide lunch for employees attending the
educational seminars. Annual cost for meals may not exceed $2200 and will be paid from
the ICMA-RC Administrative allowance. Motion carried.
8. Chairman VanLeuven appointed Childs, Rozell and VanPelt to an ad-hoc committee to
review the ICMA-RC and Fidelity suspense accounts for reimbursement to participants.
9. David Breuhan and Janette Schad from Gregory J Schwartz & Co. presented the 401(a) and
457(b) 4th quarter performance review to the board. Moved by Meisner, seconded by Childs
to approve the recommendations made by Schwartz & Co as follows. Motion carried.
ICMA 401(a) Plan
a. Keep PIMCO Total Return on watch list
b. Keep PIMCO High Yield on watch list
c. Keep Fidelity Advisor Mid Cap II on watch list
d. Keep Fidelity Advisor Small Cap on watch list
e. Place Franklin Natural Resources on watch list
Fidelity Investments 457(b) Plan
a. Keep Fidelity Managed Income Portfolio II on watch list
b. Keep PIMCO Total Return on watch list
c. Keep Fidelity Asset Manager 20% on watch list.
d. Place Prudential Jennison Natural Resources on watch list
10. Moved by VanPelt, seconded by Meisner to adopt the resolution which defines an Insurable
Interest in the Defined Benefit plan as follows. Motion carried.
1) The spouse of a member;
2) The natural or adopted child, dependent upon the member as defined by the IRC up to
the age of 19 or disabled prior to the age of 19 as defined below;
Permanently disabled, either mentally or physically prior to age 19; and
Incapable of self-sustaining employment; and
Disability certified by a physician; and
Unmarried and dependent on subscriber for main support and care
11. Moved by Rozell seconded by Meisner to adjourn the meeting at 3:00p.m. Motion carried.
The next meeting is scheduled for Thursday, March 19, 2015 at 1:30 p.m.
Respectfully submitted,
______________________________________ ___________________________________
James H. VanLeuven, Jr. – Chairperson Judy D. Fandale, Secretary