HomeMy WebLinkAboutMinutes - 2017.01.19 - 32974OAKLAND 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 January 19, 2017 at 9:30 a.m. in the Royal Oak
Conference Room, Executive Office Building (EOB).
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Andy Meisner Laurie Van Pelt
Others Present: Curtis Childs, Trustee Rhonda Van Tiflin, Human Resources
Paige Ritchie, Human Resources Christopher Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting John W. Byrne, Prudential Retirement
Jennifer Hain, Human Resources John Scott Boyd, Prudential Retirement
1. Meeting was open for public comment. No one spoke.
2. Chris Kuhn and Peter Brown of AndCo Consulting made a presentation to the Committee:
a. Reviewed rebranding and name change from The Bogdahn Group to AndCo Consulting.
b. Distributed and discussed Asset Allocation Study – Part III, January 2017 report.
i. Motion by Van Pelt, supported by Meisner to recommend to full Board the
“Proposed” asset allocation mix as detailed on page 9 of the report. Motion carried.
c. Distributed and discussed Large Cap Passive Strategies, January 2017 report.
i. Motion by Meisner, supported by Van Pelt to recommend to full Board movement of
half (approximately 5%) of the current (approximately 10%) investment with State
Street Global Advisors (SSgA) S&P 500 fund to SSgA’s S&P 500 Equal Weight
fund, as detailed on page 7 of their report, subject to fee negotiations. Motion
carried.
d. Distributed and discussed Value-add and Opportunistic Real Estate Manager Analysis,
September 30, 2016 report.
i. Committee agreed to interview three real estate fund firms, AEW, Dune and Alidade
Capital, at the next meeting on February 13, 2017.
3. Discussion on the three Defined Contribution/Deferred Compensation plan investment
consultant finalists, Graystone, RPA and Schwartz. Reviewed content of the presentations
of January 17th and their original proposal responses. Chairperson VanLeuven informed of
receipt of all positive feedback on reference check calls conducted, having spoken with at
least one member of each municipal client community provided by Graystone and RPA.
a. Motion by Rozell, supported by Van Pelt VanLeuven to enter into negotiations with
Graystone to serve as Defined Contribution/Deferred Compensation investment
consultant and Participant education provider, pending successful contract negotiations.
Motion carried.
4. Moved by Meisner, seconded by Van Pelt, to adjourn the meeting at 12:20 p.m. Motion
carried.
The next meeting is scheduled for Monday, February 13, 2017 at 9:00 a.m.
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Rhonda Van Tiflin, Assistant Secretary