HomeMy WebLinkAboutMinutes - 2014.04.17 - 33190hyOAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held April
17, 2014 at 1:30 p.m. in the West Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Joseph Rozell
D’Arcy Gonzales Andy Meisner
Jeffrey Phelps Curtis Childs
Thomas Middleton
Laurie VanPelt (designee of County Executive)
Members Absent: Kathy Crawford
Others Present: Judy Fandale, Human Resources
Jennifer Hain, Human Resources
Megan Navarre, Human Resources
Keith Lerminiaux, Corporation Counsel
Natalie Neph, Treasurer’s Office
Louise Gates, GRS
David Collon, Seizert Capital
Chris Heatley, Seizert Capital
Haley Rives, ACG
Rebecca Holts, County Retiree
1. Moved by Meisner, seconded by Childs to approve the minutes of March 20, 2014.
Motion carried.
2. Meeting was opened for public comment. No one spoke.
3. Moved by Rozell, seconded by Phelps to approve the following Defined Benefit
retirement applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Case, David Prosecutor B-50% Family (2) 05/16/2014
Knasiak, Thomas Sheriff D-50% Family(F) 05/01/2014
Scribner, Margaret Child Village A Family(2) 05/31/2014
Soave, Timothy Fiscal Services A Family(2) 04/26/2014
Wells, Walter Sheriff A Family(2) 04/19/2014
4. Moved by Childs, seconded by Gonzales to approve the following Defined Contribution
retirement applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Aird, Janice 52-4 District Ct Family (1) 04/03/2014
Duke, Lisa Deferred Single 12/21/2013
Myers, Christine Clerk/ROD None 05/03/2014
Parker, Thomas Sheriff Family(2) 05/03/2014
Renfrow, Joyce 52-1 District Ct Family(2) 05/31/2014
Smith, Edwin Equalization Family (2) 05/03/2014
Tappan, Nancy Sheriff Family (1) 04/01/2014
Retirement Minutes April 17, 2014
Page 2
5. Moved by Rozell, seconded by Childs to receive and file the Deferred Compensation
hardship application for April 2014. Motion carried.
6. Moved by Gonzales, seconded by VanPelt to approve the minutes and actions of the
April 17, 2014 Investment Subcommittee as follows. Motion carried
a. Allocate $3 million dollars to the VEBA and $2 million dollars to OCERS of the $5
million already approved for the Valstone Capital Opportunistic Real Estate investment
strategy.
b. Recommend a Request for Information (RFI) be sent to Gabriel, Roeder for actuarial
services.
c. Recommend hiring Northern Trust as the Custodial Bank for the Retirement System.
7. Moved by Middleton, seconded by Gonzales to approve the invoice from Gabriel, Roeder
Smith & Co. in the amount of $20,000 for regular retainer services for 2014. Motion
carried.
8. Moved by Phelps, seconded by Meisner to receive and file the 1st quarter 2014 Defined
Benefit and Defined Contribution reports. Motion carried.
9. Natalie Neph drew four names for the 1st quarter 2014 REAP drawing. The winners of a
$100 Visa gift cards are Sheila Cummings, Clerk/Register of Deeds for attending a one-
on-one consultation with ICMA-RC; Steve Snover, Sheriffs Office for attending a one-on-
one consutation with ICMA-RC; Alison Devine, 52-3 District Court for attending a one-on-
one consutation with Fidelity Investments; and Terri Rose, Health for attending a one-on-
one consultation Schwartz & Co.
10. Louise Gates from Gabriel, Roeder, Smith & Co. presented the September 30, 2013
Oakland County Employees’ Retirement System Actuarial Report to the board.
10a. Moved by Gonzales, seconded by VanPelt that upon recommendation from Gabriel,
Roeder, Smith & Company, the actuarial firm for the Oakland County Employees’
Retirement System, that the following transfers be made. Motion carried.
1. Transfer $57,169,805 from the Pension Reserve-General County Fund to the
Retirement Reserve-General County Fund.
2. Transfer $1,475,869 from the Pension Reserve-Sheriffs Command Officers Fund to
the Retirement Reserve-Sheriffs Command Officers Fund.
3. Transfer $8,631.004 from the Pension Reserve-Sheriff Deputies Fund to the
Retirement Reserve-Sheriff Deputies Fund.
Retirement Minutes April 17, 2014
Page 3
11. Moved by Meisner, seconded by Gonzales to receive and file the September 30, 2013
Oakland County Employees’ Retirement System actuarial report.
12. Seizert Capital made a presentation to the Board on the Mid-cap value funds.
13. Haley Rives from Asset Consulting Group presented the ASAP report to the Board.
14. Motion by Rozell, seconded by VanPelt to adjourn the meeting at 2:58 p.m. Motion
carried
The next meeting is scheduled for May 15, 2014 at 1:30 p.m.
Respectfully submitted,
_______________________________ _________________________________
James H. VanLeuven, Jr., Chairperson Judy Fandale, Secretary