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Home My WebLink AboutMinutes - 2014.10.23 - 33186OAKLAND COUNTY RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES The Oakland County Retirement and Deferred Compensation Board meeting was held October 23, 2014 at 1:30 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D’Arcy Gonzales Curtis Childs Thomas Middleton Andy Meisner Joseph Rozell Jeffrey Phelps Laurie VanPelt (designee of County Executive) Members Absent: Kathy Crawford with notice Others Present: Judy Fandale, Human Resources Megan Navarre, Human Resources Jennifer Hain, Human Resources Haley Rives, ACG Bridget Tompkins, RBC Kenneth Tyszko, RBC Rebecca Holtz, Oakland County Retiree 1. Moved by Gonzales, seconded by Rozell to approve the minutes of September 18, 2014. Motion carried. 2. Meeting was opened for public comment. No one spoke. 3. Moved by Phelps, seconded by Childs to approve the following Defined Benefit retirement applications. Motion carried. DEPARTMENT OPTION HEALTH ELIGIBILITY RETIREMENT EFFECTIVE Banycky, Kevin Sheriff’s A-100% Family (F) 10/18/2014 Brown, Susan Reimbursement D-50% Family(2) 10/18/2014 Deaver, David Sheriff’s B-50% Family(2) 10/18/2014 Hanger, Helen BOC A-100% Family(F) 10/18/2014 Lockett, Georgia FM&O B-50% Family (F) 11/15/2014 Murray, Gary Sheriff’s C Family(F) 10/13/2014 Renusch, Pamela FOC D-50% Family(F) 10/25/2014 Schantz, Dean Parks & Rec A-100% Family(2) 10/18/2014 Thompson, Debra Jo IT C Family(1) 10/18/2014 4. Moved by Childs, seconded by Phelps to approve the following Defined Contribution retirement applications. Motion carried. DEPARTMENT HEALTH ELIGIBILITY RETIREMENT EFFECTIVE Froehlich, Bradley Sheriff’s Family(2) 09/25/2014 Hiller, Kenneth Sheriff’s Family(F) 10/18/2014 Howard, Lauran Circuit Court RHS-C 11/04/2014 Panasuk, Julie Library Family (2) 10/04/2014 Tuzinowski, Betty Health Family(1) 11/27/2014 Retirement Minutes October 23, 2014 Page 2 5. Moved by Childs, seconded by Rozell to close the meeting to discuss the Defined Contribution duty-disability retirement application for Daniel Jaje. Roll call was taken; motion approved unanimously. 5a. Moved by Rozell, seconded by Middleton to re-open the meeting. Roll call was taken; motion approved unanimously. 5b. Moved by Rozell, seconded by Gonzales to approved the Defined Contribution duty- disability retirement application for Daniel Jaje effective August 23, 2014. Motion carried. 6. Moved by Middleton, seconded by Childs to receive and file the 457 Deferred Compensation Hardships for October. Motion carried. 7. Moved by Rozell, seconded by Phelps to receive and file the minutes of the October 14, 2014 Education Sub-committee meeting. Motion carried. 8. Moved by Meisner, seconded by VanPelt to receive and file the Defined Benefit and Defined Contribution 3rd quarter reports. Motion carried. 9. Moved by VanPelt, seconded by Gonzales to approve the invoice from Gabriel, Roeder, Schmidt in the amount of $4,250 ($2,125 Employees Retirement System and $2,125 VEBA) for the calendar year 2014 Minute Master services. Motion carried. 10. Moved by Childs, seconded by Phelps to change the Defined Benefit retirement date for Gerald Elmy from October 15, 2014 to October 11, 2014. Motion carried. 11. The 2014 3rd Quarter R.E.A.P. (Retirement Education Awareness Program) drawing was held. Laura Gabriel; One-on-One with Schwartz & Co, Monica Vasquez; One-on-One with ICMA-RC, Dyana Bailey; One-on-One with ICMA-RC, Karen Wentz; ICMA-RC educational seminar will each receive a $100 VISA gift card. 12. Chairperson VanLeuven appointed Childs, Phelps and himself to the election committee for the regular employee member election taking place on December 2, 2014. They will canvass votes in the elections office on Monday, December 8, 2014 at 9:00 a.m. 13. Bridget Tompkins and Kenneth Tyszko from RBC Global Asset Management presented the small cap growth fund to the board. 14. Haley Rives from Asset Consulting Group presented the ASAP report to the Board. 15. Moved by VanPelt, seconded by Gonzales to allow ICMA-RC to contact employees in the current side-car IRA about moving to the payroll deduction IRA. Motion carried 16. Moved by Rozell, seconded by Childs to create a suspense account at ICMA-RC for the Administrative Allowance received from ICMA-RC. The Board will review this account along with the account at Fidelity annually to determine the best use of the money including possible refunds to employees. Motion carried. 17. Other Business: a) A meeting calendar for 2015 has been distributed to all Board members for review and adoption at the November 20, 2014 Board meeting. Retirement Minutes October 23, 2014 Page 3 b) An EDRO policy will be forwarded to all Board members for review and adoption at the November 20, 2014 Board meeting. c) ACG will offer investment training to the Board on January 21, 2015. 17. Moved by Middleton, seconded by Meisner to adjourn the meeting at 2:50 p.m. Motion carried The next meeting is scheduled for November 20, 2014 at 1:30 p.m. Respectfully submitted, _______________________________ _________________________________ Jame OAKLAND COUNTY VEBA BOARD MINUTES The Oakland County Voluntary Employees’ Beneficiary Association Board (VEBA) was held October 23, 2014 at 2:50 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D’Arcy Gonzales Curtis Childs Thomas Middleton Andy Meisner Joseph Rozell Jeffrey Phelps Laurie VanPelt (designee of County Executive) Members Absent: Kathy Crawford with notice Others Present: Judy Fandale, Human Resources Megan Navarre, Human Resources Jennifer Hain, Human Resources Haley Rives, ACG Rebecca Holtz, Oakland County Retiree 5. Moved by VanPelt, seconded by Meisner to approve the minutes of September 18, 2014. Motion carried. 6. Meeting was open for public comment. No one spoke. 3. Moved by VanPelt, seconded by Gonzales to invest the assets in the 2013 Superseding Trust in a 40% Fixed and 60% Equity mix. CS McKee will invest 40% in their Core Fixed income fund and State Street Global will invest 60% in the Large Cap Index fund . Motion carried. 4. Moved by VanPelt, seconded by Gonzales to approve the invoice from Gabriel, Roeder, Smith & Company in the amount of $4,250 ($2,125 Employees Retirement System and $2,125 VEBA) for the calendar year 2014 Minute Master services. Motion carried 5. Moved by Rozell, seconded by Meisner to adjourn the meeting at 2:55 p.m. Motion carried. The next meeting is scheduled for November 20, 2014, immediately following the Retirement and Deferred Compensation Board meeting. Respectfully submitted, ________________________________ ________________________________ James H. VanLeuven, Jr., Chairperson Judy Fandale, Secretary s H. VanLeuven, Jr., Chairperson Judy Fandale, Secretary