HomeMy WebLinkAboutMinutes - 2019.12.17 - 32861OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
December 17, 2019 at 1:00 p.m. in the East Oakland Conference Room, L. Brooks Patterson
Building.
Members Present: James VanLeuven Jr. Joseph Rozell
Jeffrey Phelps Dave Woodward
April Lynch Curtis Childs
Helaine Zack
Members Absent: Andy Meisner (with notice)
Lauri Siskind (with notice)
Others Present: Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Joellen Shortley, Corporation Counsel
Carly Webster, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Natalie Neph, Treasurer’s Office
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
Louise Gates, Gabriel, Roeder, Smith & Co.
1. Moved by Phelps, seconded by Rozell to approve the minutes of November 21, 2019.
Motion carried.
2. Meeting was opened for public comment. No one spoke.
3. Moved by Childs, seconded by Phelps to approve the following Defined Benefit retirement
applications. Motion carried.
RETIREMENT
DEPARTMENT EFFECTIVE Shari Griesmer-Toth Friend of the Court 01/15/2020
Cherri Janeczek Comm & Home Improvement 01/28/2020
Julie Maher Deferred - District Court 12/16/2019
Anita Tewilliager Information Technology 01/31/2020
Kenneth Tolbert Friend of the Court 02/01/2020
4. Moved by Rozell, seconded by Childs to approve the following Defined Contribution
retirement applications. Motion carried. RETIREMENT
DEPARTMENT EFFECTIVE Carolyn Artman Deferred – District Court 01/06/2020
Carol Esher Probate Estates & Mental Hlth 02/01/2020
Richard Lynch Deferred - Circuit Court 12/03/2019
Denise Reis Deferred - Sheriff’s Office 01/27/2020
Pamela Sala Friend of the Court 01/11/2020
5. Moved by Lynch, seconded by Childs, to receive and file the November 25, 2019 email
communication from Chris Kuhn of AndCo, regarding the CS McKee ownership change.
Motion carried.
Moved by Phelps, seconded by Childs to approve the Manager Addendum to the
Investment Policy Statement for Loomis, Sayles & Company. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
December 17, 2019
Page 2
6. Moved by Phelps, seconded by Childs to receive and file the December 10, 2019
Administrative Policies & Procedures ad hoc committee minutes. Motion carried.
7. Moved by Phelps, seconded by Rozell to approve the Service Provider Request for
Proposal (RFP) Schedule. Motion carried.
8. Moved by Phelps, seconded by Rozell to receive and file the OCERS GASB Statement
No.67 Plan Reporting and Accounting Schedules as of September 30, 2019. Motion
carried.
9. Aaron Castle of VanOverbeke, Michaud & Timmony provided a verbal update on legal
issues and pending legislation.
Moved by Childs, seconded by Phelps to receive and file the December 2019 update on
securities litigation by Miller Law Firm and the update on Class Action Services by
Northern Trust. Motion carried.
10. Moved by Phelps, seconded by Childs to receive and file the Administrator’s Report for
December 2019. Motion carried.
11. Moved by Phelps, seconded by Rozell to retain AndCo Consulting as the Defined Benefit
Investment Consultant. Motion carried.
Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. will draft the contract to be
effective January 1, 2020.
The Trustees unanimously agreed to have Secretary Frank create a Michigan Inter-
governmental Trade Network (MITN) account for the Board to post RFPs.
12. Agenda items 5a. and 12. were addressed in inverse order. Chris Kuhn and Peter Brown
of AndCo Consulting distributed the following reports and provided brief comments
summarizing highlights contained in each:
• Oakland County Employees’ Retirement System (ERS) Investment Performance
Review Period Ending September 30, 2019
• Oakland County Employees’ Retirement System (ERS) Monthly Flash Report
Period Ending October 31, 2019
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan
Asset / Manager Summary – December 6, 2019
13. Other Business
a. Chairperson VanLeuven noted the upcoming meetings of this Board:
i. Investment Subcommittee, January 22, 2020 – 10:30 a.m.
ii. Retirement & VEBA Boards, January 23, 2020 – 1:30 p.m.
iii. Retirement Board Educational Retreat, January 24, 2020 - 8:30 – 2:00 p.m.
14. Chairperson VanLeuven adjourned the meeting without objection at 1:40 p.m.
Respectfully submitted,
__________________________________ __________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary