HomeMy WebLinkAboutMinutes - 2020.04.30 - 33154OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
electronically on April 30, 2020 at 1:31 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr., Joseph Rozell, Andy Meisner,
Helaine Zack, Curtis Childs, Lauri Siskind,
Jeff Phelps
Members Absent with Notice:
April Lynch, Dave Woodward
Others Present:
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Chris Kuhn, AndCo Consulting
Peter Brown, AndCo Consulting
Louise Gates, GRS Consulting
Natalie Neph, Treasurer’s Office
II. Approval of the Agenda
Moved by Siskind, seconded by Childs to approve the agenda.
Moved by Siskind, seconded by Childs to amend the agenda to add Item II.A.
Temporarily suspend the portion of the Board Bylaws that prohibits meeting by
telecommunications during the COVID-19 pandemic. Motion carried.
Moved by Childs, seconded by Siskind to approve the agenda, as amended. Motion
carried.
A. Moved by Siskind, seconded by Phelps to temporarily suspend the portion of the
Bylaws that prohibits meeting by telecommunications during the COVID-19
pandemic. Motion carried.
III. Public Comment
None
IV. Regular Agenda
A. Moved by Siskind, seconded by Childs to approve the minutes of March 23,
2020. Motion carried.
B. Retirements
1. Moved by Phelps, seconded by Childs to approve the following Defined
Benefit applications. Motion carried.
DEPARTMENT EFFECTIVE Ernestine Buckner FM&O 4/18/2020
Sheila Hall Clerk/Register of Deeds 4/30/2020
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
April 30, 2020
Page 2
Craig Pretznow Sheriff’s Office 6/13/2020
2. Moved by Childs, seconded by Phelps to approve the following Defined
Contribution applications. Motion carried.
DEPARTMENT EFFECTIVE
Janice Coleman Deferred – Circuit Court 5/01/2020
Suzanne Garrett District Court I 3/31/2020
Terry Healy Prosecuting Attorney’s Office 3/27/2020
V. Reports
A. Chris Kuhn and Peter Brown of AndCo Consulting presented the following
reports and provided comments summarizing highlights contained in each:
• S&P 500 – Bear Markets since 2000 – Comparing Crisis
• Oakland County Employees’ Retirement System (ERS) Monthly Flash Report
Period Ending March 31, 2020
• AndCo’s Weekly Market Update - April 20,2020
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan
Asset / Manager Summary – April 30, 2020
B. Moved by Childs, seconded by Rozell to approve the DB Pension Annual
Increase Multiplier Table & Memo from Secretary Frank. Motion carried.
C. Moved by Siskind, seconded by Zack to receive and file the Defined Benefit and
Defined Contribution 1st Quarter 2020 Reports. Motion carried.
D. Moved by Meisner, seconded by Childs to receive and file the April 2020
Administrator’s Report Motion carried.
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. provided an update on
legal matters.
a. Moved by Meisner, seconded by Siskind to receive and file the March and April
2020 update on securities litigation by Miller Law Firm. Motion carried.
b. Moved by Childs, seconded by Phelps to receive and file the 1st Quarter update
on Class Action Services by Northern Trust. Motion carried.
VI. Unfinished Business
None
VII. New Business
A. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. reviewed the CARES
Act and the trustees discussed the April 21, 2020 Memo from Administration to
the Retirement Board.
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, May
21, 2020
IX. Chairperson VanLeuven adjourned the meeting without objection at 2:28 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary