HomeMy WebLinkAboutMinutes - 2017.03.23 - 32963OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD
INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation Board
Investment Sub-Committee was held March 23, 2017 at 10:00 a.m. in the Royal Oak
conference room, Executive Office Building (EOB).
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Andy Meisner
Absent: Laurie Van Pelt (with notice)
Others Present: Jeff Phelps, Trustee Rhonda Van Tiflin, Human Resources
Curtis Childs, Trustee Jennifer Hain, Human Resources
Christopher Kuhn, AndCo Paige Ritchie, Human Resources
Peter Brown, AndCo Lisa Villella, Human Resources
Anthony Frongillo, Fidelity (via conference call)
Jim Freeman, Fidelity (via conference call)
Kristine Castel, Fidelity (via conference call)
1. Meeting was open for public comment. No one spoke.
2. Anthony Frongillo, Jim Freeman and Kristine Castel of Fidelty made a presentation to the
Subcommittee entitled Oakland County Revenue Credit Programs.
3. Motion by Meisner, seconded by Rozell, to postpone implementation of fund-level pro-rata
revenue credit allocation (‘fee levelization’) with Fidelity until after the 457(b) recordkeeper
request for proposal is concluded. Motion carried.
4. Chris Kuhn and Peter Brown of AndCo Consulting made a presentation to the
Subommittee:
a. Distributed and reviewed Asset/Manager Summary – March 2017 for Oakland County
Employees’ Retirement System (OCERS), VEBA and Superseding Trust.
b. AndCo advises Alidade has gained the approval of their internal Investment Team; the
‘TBD’ on pages for OCERS and VEBA indicate proposed amounts to be redirected from
Morgan Stanley Prime Property Real Estate to Alidade.
5. Motion by Rozell, supported by Meisner, to redirect assets from Morgan Stanley Prime
Property Real Estate to Alidade:
a. $5 million from Oakland County Employees’ Retirement System (OCERS), and
b. $3 million from VEBA.
Motion carried.
6. Moved by Rozell, seconded by Meisner, to adjourn the meeting at 10:54 a.m. Motion carried.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Rhonda Van Tiflin, Assistant Secretary