HomeMy WebLinkAboutMinutes - 2015.05.14 - 32438OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held May 14, 2015 at
1:30 p.m. in the W est Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Curtis Childs
Andy Meisner Thomas Middleton
Jeffrey Phelps Joseph Rozell
Laurie VanPelt (designee of County Executive)
Members Absent: Eileen Kowall, with notice
D'Arcy Gonzales
Others Present: Judy Fandale, Human Resources
Megan Navarre, Human Resources
Jennifer Hain, Human Resources
Paige Ritchie, Human Resources
Daniel Anderson, Fidelity Investments
Douglas Davis, Fidelity Investments
Leslie Simsich, Fidelity Investments
Roger Trapp, Fidelity Investments
David Breuhan, Schwartz & Co.
Ben Jones, Schwartz & Co.
Janette Schad, Schwartz & Co.
Edward Schwartz, Schwartz & Co.
1. Moved by Childs supported by Rozell the minutes of the April 28, 2015 Retirement and Deferred
Compensation Board Meeting be approved.
Discussion followed.
1a. Moved by VanPelt supported by Middleton to amend the minutes of the April 28, 2015 Retirement
and Deferred Compensation Board meeting as follows:
Please Add: Louise Gates, GRS presented the September 30, 2014 Oakland County
Employees’ Retirement System and September 30, 2014 Oakland County Retiree Health Fund
Actuarial Reports to the Board.
A sufficient majority having voted in favor, the minutes of the April 28, 2015 Retirement and Deferred
Compensation Board Meeting, as amended, was approved.
2. Meeting was opened for public comment; No one spoke.
3. Moved by Childs, seconded by Middleton to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Carter, Eugene Sheriffs B-50% Family (2) 07/11/2015
Cole, Gloria Sheriffs SL Family (1) 06/13/2015
Potts, Cynthia MSU Extension A-100% Family (F) 07/03/2015
Spinks, Adrian FOC SL Family (1) 06/20/2015
4. Moved by VanPelt, seconded by Rozell to approve the following Defined Contribution retirement
applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Pattison, Jeffrey Equalization Family (2) 05/19/2015
Peters, Linda Health Family (2) 05/30/2015
Snover, Steven Sheriffs Family (2) 04/30/2015
Williams, Jack FM&O RHS - C 05/05/2015
Retirement Minutes May 14, 2015
Page 2
5. Douglas Davis, Roger Trapp and Daniel Anderson from Fidelity Investments presented the Deferred
Compensation 457(b) Retirement Plan Review to the Board.
6. David Breuhan, Ben Jones, Janette Schad and Edward Schwartz from Gregory J. Schwartz & Co.
presented the Defined Contribution 401(a) and Deferred Compensation 457(b) Plan Performance
Review to the Board with the following recommendations. Moved by Childs, seconded by Rozell to
approve the recommendations on page 81 of the report for the Defined Contribution 401(a) plan.
Motion carried.
ICMA 401(a) Plan
a. Remove PIMCO Total Return from watch list
b. Remove PIMCO High Yield from watch list
c. Keep Fidelity Advisor Mid Cap II on watch list
d. Place T. Rowe Small Cap Value on watch list
e. Keep Fidelity Advisor Small Cap on watch list
f. Keep Franklin Natural Resources on watch list
6a. Moved by Meisner, seconded by Phelps to approve the recommendations on page 144 of the report
to the Deferred Compensation 457(b) plan as amended. Motion carried.
Moved by Meisner, seconded by Childs to amend the motion to approve the recommendations on
page 144 of the report for the Deferred Compensation 457(b) plan to keep the Fidelity Managed
Income Portfolio II on the watch list and not remove it at this time. Motion carried.
Fidelity Investments 457(b) Plan
a. Keep Fidelity Managed Income Portfolio II on watch list
b. Remove PIMCO Total Return from watch list
c. Remove Fidelity Asset Manager 20% from watch list.
d. Place T. Rowe Price Equity Income on watch list
e. Keep Prudential Jennison Natural Resources on watch list
7. Other Business:
Moved by VanPelt, seconded by Meisner to submit a Request for Proposal (RFP) for the Defined
Benefit plan consultant on or about July 17, 2015. Motion carried.
8. Moved by Rozell, seconded by Meisner to adjourn the meeting at 3:20pm. Motion carried.
The next meeting is scheduled for Thursday, June 18, 2015 at 1:30 p.m.
Respectfully submitted,
______________________________________ ______________________________________
James H. VanLeuven, Jr. Chairperson Judy D. Fandale, Secretary