HomeMy WebLinkAboutMinutes - 2014.01.23 - 33184OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD
MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
January 23, 2014 at 1:30 p.m. in the W est Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. D'Arcy Gonzales
Curtis Childs Jeffrey Phelps
Andy Meisner Thomas Middleton
Laurie VanPelt (designee of County Executive)
Members Absent: Kathy Crawford, Joseph Rozell with notice
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Megan Navarre, Human Resources
Keith Lerminiaux, Counsel to the Board
George Tarlas, ACG
Rebecca Holtz, Oakland County Retiree
Robert Crosby, Munder Capital Management
Gavin Hayman, Munder Capital Management
Secretary Judy Fandale chaired the meeting.
1. Moved by Gonzales, seconded by VanLeuven Jr. to approve the minutes of December
12, 2013. Motion carried.
2. Meeting was opened for public comment.
3. Moved by Gonzales, seconded by VanPelt that James H. VanLeuven, Jr. be nominated
for Chairperson. Moved by Middleton, seconded by Gonzales that nominations be closed
and a unanimous ballot be cast. Motion carried.
Chairperson James H. VanLeuven, Jr. assumed the chair.
3a. Moved by Gonzales, seconded by Childs that Joseph Rozell be nominated for Vice
Chairperson. Moved by Middleton, seconded by Gonzales that nominations be closed and a
unanimous ballot be cast. Motion carried.
4. Moved by Childs, seconded by VanPelt to approve the following Defined Benefit retirement
applications. Motion carried. HEALTH RETIREMENT
DEPT OPTION ELIGIBILITY EFFECTIVE
Anthony, Shirley Safety SL Family(1) 01/25/14
Bohatuk, Frances Health SL Family(1) 02/19/14
Lange, Susan H. Deferred D-100% Family(2) 02/01/14
Peters, Penny IT-Clemis D-50% Family(2) 01/15/14
Shedlowsky, Gary Deferred SL Family(2) 02/02/14
VanLacken, Mark Sheriff D-100% Family(F) 02/20/14
Whitefield, Janet Sheriff D-100% Family(2) 02/15/14
Yuchasz, Christopher Sheriff A-100% Family(F) 01/11/14
Retirement Minutes January 23, 2014
Page 2
5. Moved by Childs, seconded by Phelps to approve the following Defined Contribution
retirement applications. Motion carried.
HEALTH RETIREMENT
DEPT ELIGIBLIITY EFFECTIVE
Cavalier, Thomas Sheriff Family(2) 02/08/14
McArthur, Charles Childrens Village Family(2) 02/02/14
Morton, Kathleen Circuit Court 68% ER 01/11/14
Poulin, Thomas Sheriff Family(2) 01/28/14
Winer, Lois Health Family(2) 01/25/14
6. Moved by Gonzales, seconded by VanPelt to approved the minutes and actions of the
January 23, 2014 Investment Subcommittee meeting as follows. Motion carried.
6a. To follow the recommendation of ACG for Real Estate on page 22 of the Real Estate
Investment Opportunities for the VEBA.
a. Core: Maintain exposure to Morgan Stanley Prime Property Fund
b. Value –Add: Commit $10 million additional capital to Prudential – PRISA II in
2014.
c. Opportunistic: Identify 3 to 4 managers for new commitments over the next
several years and target 1 or 2 investments per year.
6b. To follow the recommendation of ACG for the Real Estate on page 28 of the Real Estate
Investment Opportunities for the Oakland County Employees Retirement System (DB).
a. Core: Maintain exposure to Morgan Stanley Prime Property Fund
b. Value –Add: Commit $5 million additional capital to Prudential – PRISA II in 2014.
c. Opportunistic: Identify 2 to 3 managers for new commitments over the next
several years and target 1 or 2 investments per year.
6c. Issue a Global Custody Request for Proposal.
7. Receive and file the 4th Quarter 2013 Defined Benefit and Defined Contribution Reports.
Motion carried.
8. Childs drew names for the R.E.A.P. (Retirement Education & Awareness Program)
drawing for the 4th Quarter of 2013. Congratulations to the winners of the $100 Visa Gift
Cards: Cindy Romeos, from Circuit Court for attending a NS4RW event, Denise Hatter
from Circuit Court for attending a 1:1 consultation with ICMA-RC, Chris Cole from Sheriffs
Department for attending a 1:1 consultation with Fidelity Investments and Karen Wentz
from Circuit Court for attending a 1:1 consultation with Fidelity Investments.
9. Robert Crosby and Gavin Hayman from Munder Capital Management made a presentation
to the board.
10. George Tarlas from Asset Consulting Group presented the ASAP report to the Board.
Retirement Minutes January 23, 2014
Page 3
11. Moved by Meisner seconded by VanPelt to adjourn the meeting at 2:23 p.m. Motion
carried.
The next meeting is scheduled for Thursday, February 20, 2014 at 1:30 p.m.
Respectfully submitted,
_________________________________ _________________________________
James H. VanLeuven, Jr. - Chairperson Judy D. Fandale, Secretary