HomeMy WebLinkAboutMinutes - 2015.07.23 - 32435OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held July 23, 2015 at
1:30 p.m. in the East Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Curtis Childs
D’Arcy Gonzales Thomas Middleton
Laurie VanPelt (designee of County Executive)
Members Absent: Jeffrey Phelps, with notice
Andy Meisner, with notice
Joseph Rozell, with notice
Eileen Kowall, with notice
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Paige Ritchie, Human Resources
Keith Lerminiaux, Corporation Counsel
George Tarlas, ACG
Joe Nugent, ACG
David Breuhan, Gregory J. Schwartz & Co.
Scott Brown, Morgan Stanley
1. Moved by Gonzales supported by Middleton that the minutes of the June 18, 2015 Retirement and
Deferred Compensation Board Meeting be approved. Motion carried.
2. Meeting was opened for public comment; No one spoke.
3. Moved by VanPelt, seconded by Childs to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Lawrence Harold Parks and Rec SL Family (1) 08/15/2015
Sullivan, Mary Jo Deferred SL Family (1) 07/28/2015
Tiernan, Lewis WRC D-50% Family (F) 07/31/2015
Tillman, Sandra FM&O D-50% RHS(c) 08/29/2015
4. Moved by Childs, seconded by Gonzales to approve the following Defined Contribution retirement
applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Dodson, Barry Treasurers Family (2) 08/14/2015
Mailloux, David Sheriffs Family (2) 07/17/2015
Neff, Mary 52-3 District Court Family (1) 07/11/2015
Novara, Dennis Childrens Village 60% 08/04/2015
Rathbun, Craig Sheriffs Family (1) 07/11/2015
Ritchie, Marion Clerk/Reg of Deeds 64% 07/01/2015
Wagner, Melissa Parks & Rec 80% 08/22/2015
5. Moved by VanPelt, seconded by Middleton to receive and file the 2nd Quarter Defined Benefit and
Defined Contribution Reports. Motion carried.
Retirement Minutes July 23, 2015
Page 2
6. Moved by Gonzales, seconded by Childs to receive and file the July 23, 2015 Investment
Subcommittee meeting minutes. Motion carried.
7. Gonzales drew four names for the 2nd quarter 2015 REAP drawing. The winners of a $100 Visa gift
cards are Valerie Taylor, Sheriff’s Department for attending a Pre-Retirement class; Barbara Draper,
Health for attending a Pre-Retirement class; Darlene Marion, Parks and Recreation for attending a
Pre-Retirement class; and Julia Ruffin, Board of Commissioners for attending a One-on-One
consultation with ICMA.
8. Scott Brown, Morgan Stanley made a presentation to the Board on the Prime Property Fund.
9. George Tarlas and Joe Nugent from Asset Consulting Group discussed Opportunistic Real Estate
and presented the ASAP report to the Board.
9a. Moved by Gonzales, seconded by VanPelt to allocate $5 million to the Walton Street Real Estate
Opportunistic Fund VIII subject to the mutually acceptable subscription Agreement. Motion carried.
10. Discussion ensued on the Deferred Compensation 457(b) Plan Document, Keith Lerminiaux
recommended deferral of final approval, no action was taken.
11. Other Business: Chairperson VanLeuven disclosed he has accepted a part-time position with MFCI.
Gonzales disclosed he will no longer serve on the Board effective October 1, 2015.
12. Moved by Gonzales, seconded by Childs to adjourn the meeting at 2:55 p.m. Motion carried.
The next meeting is scheduled for Thursday, August 20, 2015 at 1:30 p.m.
Respectfully submitted,
______________________________________ ______________________________________
James H. VanLeuven, Jr. Chairperson Judy D. Fandale, Secretary