HomeMy WebLinkAboutMinutes - 2016.11.17 - 32454OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held
November 17, 2016 at 2:56 p.m. in the West Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Curtis Childs
Andy Meisner Thomas Middleton
Jeffrey Phelps Joseph Rozell
Lauri Siskind
Laurie Van Pelt (designee of County Executive)
Members Absent: Chris Ward (designee of Chairperson, BOC)
Others Present: Keith Lerminiaux, Corporation Counsel
Rhonda Van Tiflin, Human Resources
Jennifer Hain, Human Resources
Kathy Sanders, Human Resources
Louise Gates, Gabriel, Roeder, Smith
1. Moved by Rozell, seconded by Phelps, to approve the minutes of the October 20, 2016
Voluntary Employees’ Beneficiary Association Board Meeting. Motion carried.
2. Meeting was opened for public comment. No one spoke.
3. Louise Gates of Gabriel, Roeder, Smith presented the Oakland County Retirees’ Health
Care Trust Assumption Study to the Board. Moved by Van Pelt, seconded by Middleton, to
adopt the proposed option D outlined on page 7 of the report. Motion carried.
a. Adopt the proposed updated Mortality Table outlined on page 3 of the report.
b. Decrease the wage inflation assumption rate to 3.25%.
c. Decrease the assumed net rate of investment return to 7.25%.
4. Moved by Childs, seconded by Phelps, to adjourn the meeting at 3:19 p.m. Motion carried.
The next VEBA Board meeting is scheduled for Thursday, December 15, 2016, immediately
following the Retirement and Deferred Compensation Board meeting.
Respectfully submitted,
__________________________________ ____________________________________
James H. VanLeuven Jr., Chairperson Rhonda Van Tiflin, Assistant Secretary