HomeMy WebLinkAboutMinutes - 2017.08.24 - 32969OAKLAND 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 August 24, 2017 at 10:30 a.m. in the Royal Oak Conference
Room, Executive Office Building (EOB) Conference Center.
Members Present: James H. VanLeuven, Jr.
Joseph Rozell
Andy Meisner
Member(s) Absent: Laurie Van Pelt (designee of County Executive), with notice
Others Present: Silvia Frank, Human Resources
Rhonda Van Tiflin, Human Resources
Paige Ritchie, Human Resources
Jason May, Graystone Consulting
John Krakowiak, Graystone Consulting
Mid-meeting Arrival: Ken Wedemeyer, ICMA-RC – 11:04 a.m. arrival
Karen Chong-Wulff, ICMA-RC – 11:04 a.m. arrival
1. Meeting was open for public comment. No one spoke.
2. Jason May and John Krakowiak of Graystone Consulting made a presentation to the
Committee:
a. Reviewed data provided in two handouts:
i. ‘Plan Investment Review for the Period Ending June 30, 2017 – Prepared for
Oakland County 401(a) ICMA’
ii. ‘Plan Investment Review for the Period Ending June 30, 2017 – Prepared for
Oakland County 457 – Fidelity’
b. Mr. May recommended the full Retirement and Deferred Compensation Board
entertain a motion to allow him to provide notice to both stable value funds, in the
ICMA-RC 401(a) and the Fidelity 457, to initiate the 12-month put option in
anticipation of a potential recordkeeper change, dependent upon the current open
request for proposal. Mr. May advises if either stable value fund does not undergo a
recordkeeper transition, the notice can later be withdrawn.
3. Ken Wedemeyer and Karen Chong-Wulff of ICMA-RC made a presentation to the Committee
covering information provided in their handout entitled ‘Oakland Performance Retirement
System – VT Plus Fund’.
4. The meeting was adjourned without objection at 11:42 a.m.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary