HomeMy WebLinkAboutMinutes - 2020.01.23 - 32890OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board was held
January 23, 2020 at 2:57 p.m. in the East Oakland Conference Room, L. Brooks Patterson
Building.
Members Present: James VanLeuven Jr. Joseph Rozell
Andy Meisner Jeff Phelps
April Lynch Dave Woodward
Curtis Childs Helaine Zack
Members Absent: Lauri Siskind (with notice)
Others Present: Joellen Shortley, Corporation Counsel
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Carly Webster, Human Resources
Chris Kuhn, AndCo
Peter Brown, AndCo
Secretary Frank chaired the meeting.
1. Moved by Meisner, seconded by VanLeuven to approve the minutes of December 17,
2019. Motion carried
2. Meeting was opened for public comment; no one spoke.
3. Election of Officers:
a. Call for nominations from the floor for Chairperson. Moved by Meisner, seconded by
Childs that James VanLeuven Jr. be nominated as Chairperson. Motion carried.
Chairperson James H. VanLeuven, Jr. assumed the chair.
b. Call for nominations from the floor for Vice Chairperson. Moved by Phelps,
seconded by Woodward that Joseph Rozell be nominated for Vice Chair. Motion
carried.
4. Moved by Rozell, seconded by Phelps to receive and file the January 1, 2020 Investment
Consulting Services Agreement with AndCo Consulting. Motion carried.
5. Moved by Phelps, seconded by Woodwrd to approve the following invoices from Gabriel,
Roeder, Smith & Company. Motion carried.
• Retainer services provided during calendar year 2019 $25,500 (Inv #451733)
• 2019 GASB Statement No. 74 valuation $11,000 (Inv #451728)
6. Chris Kuhn of AndCo Consulting provided brief comments regarding the Investment
Subcommittee interviews with the Private Equity Managers.
Moved by Phelps, seconded by Lynch to approve the recommendation of the Investment
Subcommittee and allocate $35 million of VEBA funds to be split evenly between Hamilton
Lane and Portfolio Advisors. Motion carried.
7. 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) VEBA Monthly Flash
Report Period Ending December 3, 2019
• Oakland County Employees’ Retirement System (ERS) VEBA
Oakland County VEBA Board Minutes
January 23, 2020
Page 2
Asset / Manager Summary – December 6, 2019
8. Other Business:
a. Chairperson VanLeuven noted the next meeting of this Board:
i. Thursday, February 20, 2020.
9. Chairperson VanLeuven adjourned the meeting without objection at 3:05 p.m.
Respectfully submitted,
__________________________________ ____________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary