HomeMy WebLinkAboutMinutes - 2019.09.19 - 32504OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees' Beneficiary Association (VEBA) Board was held
September 19, 2019 at 4:08 p.m. in the West Oakland Conference Room, L. Brooks Patterson
Building.
Members Present:
Others Present:
James VanLeuven Jr.
Andy Meisner
Helaine Zack
Jeff Phelps
Lauri Siskind
Joseph Rozell
Dave Woodward
Malcolm Brown
Curtis Childs
Jordie Kramer, Human Resources
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Natalie Neph, Treasurer's Office
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
1. Moved by Phelps, seconded by Zack to approve the minutes of August 15, 2019. Motion
carried.
2. Meeting was opened for public comment. No one spoke.
3. Moved by Brown, seconded by Zack to receive and The the September.13, 2019
Appointment of Designee letter from County Executive, David Coulter, appointing Malcolm
Brown for the September meeting and April Lynch effective September 23, 2019. Motion
carried.
4. Chris Kuhn of AndCo distributed the following reports and provided brief comments
summarizing highlights contained in each:
• Oakland County Employees' Retirement System (ERS) VEBA Investment
Performance Review Period Ending June 30, 2019
• Oakland County Employees' Retirement System (ERS) VEBA Monthly Flash
Report Period Ending August 31, 2019
• Oakland County Employees' Retirement System (ERS) VEBA Plan
Asset / Manager Summary as of September 10, 2019
5. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. provided a brief overview on the
draft policies and procedures.
• Moved by Siskind, supported by Rozell to approve the Board Communication
Policy, as amended. Motion carried.
• Moved by Phelps, seconded by Siskind to approve the Ethics Policy, as
amended. Motion carried.
• Moved by Woodward, seconded by Rozell to approve the Securities Litigation
Policy. Motion carried.
• Moved by Rozell, seconded by Phelps to approve the VEBA Plan Actuarial
Funding Policy. Motion carried.
• Moved by Siskind, seconded by Phelps to approve the Defined Contribution Plan
& Oakland County Retiree Health Savings Plan & Trust Payment of Plan
Expenses and Use of Forfeitures Policy, as amended. Motion carried.
Oakland County VEBA Board Minutes
September 19, 2019
Page 2
6. Moved by Zack, seconded by Rozell to receive and file the September 13, 2019 memo
from Trustee Brown, regarding plan corrections for forfeitures. Motion carried.
7. Moved by Siskind, seconded by Zack to receive and file the Retiree Health Savings (RHS)
Plan Document and Adoption Agreement. Motion carried.
8. Moved by Siskind, seconded by Brown to approve the RHS Plan Trust document. Motion
carried.
9. Moved by Zack, seconded by Siskind to authorize the use of the RHS forfeitures to offset
future County contributions. Motion carried. Without objection, the Board agreed to begin
offsetting future county contributions effective the next payroll cycle.
10. Other Business:
a. Chairperson VanLeuven noted the next meeting of this Board:
i. Thursday, October 17, 2019
11. Chairperson VanLeuven adjourned the meeting without objection at 4:15 p.m.
Respectfully submitted
es H. VanLeuveh Jr., Chgi`flberson
Silvia t"rrilc, Secretary