HomeMy WebLinkAboutMinutes - 2014.07.24 - 33193OAKLAND COUNTY RETIREMENT
AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held July 24, 2014 at
1:30 p.m. in the East Oakland Conference Room.
Members Present: James H. VanLeuven, Jr. Joseph Rozell
Curtis Childs D’Arcy Gonzales
Andy Meisner Thomas Middleton
Kathy Crawford (designee of Chairperson, Board of Commissioners)
Laurie VanPelt (designee of County Executive)
Members Absent: Jeffrey Phelps, with notice
Others Present: Judy Fandale, Human Resources
Megan Navarre, Human Resources
Jennifer Hain, Human Resources
Paige Ritchie, Human Resources
Keith Lerminiaux, Corporation Counsel
George Tarlas, Asset Consulting Group
Douglas Davis, Fidelity Investments
Natalie Neph, OC Treasurers Office
Louise Gates, Gabriel, Roeder, Smith & Co.
Rebecca Holtz, Oakland County Retiree
1. Moved by Gonzales, seconded by Rozell to approve the minutes of June 19, 2014. Motion
carried.
2. Meeting was opened for public comment. No one spoke.
3. Moved by Middleton, seconded by VanPelt to approve the following Defined Benefit retirement
applications. Motion carried.
DEPARTMENT OPTION HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Hayman, Katherine Deferred A-100% Family(2) 07/30/2014
Treais, Matthew Airport D-50% Family(F) 09/27/2014
4. Moved by Childs, seconded by Rozell to approve the following Defined Contribution retirement
applications. Motion carried.
DEPARTMENT HEALTH
ELIGIBILITY
RETIREMENT
EFFECTIVE
Hamilton, Roland WRC 60% 07/12/2014
Manning, Lori Sheriff’s Family (2) 07/15/2014
5. Moved by VanPelt, seconded by Crawford to receive and file the 2013 Retirement Annual Report.
Motion carried
6. Moved by Crawford, seconded by Gonzales to receive and f ile the 2nd quarter DB and DC reports.
Motion carried.
Retirement Minutes July 24, 2014
Page 2
7. Kathy Crawford drew four names for the 2nd quarter 2014 REAP drawing. The winners of a $100
Visa gift card are Kim Hayes, FOC for attending a Pre-Retirement class; Heidi Walling, Clerk’s
Office for attending a Pre-Retirement class; Deborah Goodman, Children’s Village for attending a
Pre-Retirement class; and Carrie Cox, WRC for attending a one-on-one consultation with Gregory
J. Schwartz & Co.
8. Douglas Davis from Fidelity Investments made a presentation to the Board to discuss Fidelity’s
Portfolio Advisory Service campaign.
9. George Tarlas, Asset Consulting Group presented the ASAP report to the board and discussed
investment characteristics of Valstone Capital Real Estate Fund. Moved by VanPelt, seconded by
Middleton to approve the contract with Valstone if they can indemnify Oakland County. If they
cannot indemnify Oakland County the board will review for further action. Motion carried.
10. Moved by VanPelt, seconded by Gonzales to receive and file the EDRO inquiry made by
employee, Kathy George. Motion carried.
11. Other business:
a. Moved by Middleton, seconded by Rozell to approve a contract with Gabriel, Roeder, Smith &
Co. The final contract to be signed by the Board Chairperson. Motion carried.
b. Keith Lerminiaux stated the contract with Northern Trust as the Custodial Bank is nearly
complete. The final contract to be signed by the Board Chairperson and the County Treasurer.
12. Motion by Crawford, seconded by VanPelt to adjourn the meeting at 3:12 p.m. Motion carried
The next meeting is scheduled for August 21, 2014 at 1:30 p.m.
Respectfully submitted,
_______________________________ _________________________________
James H. VanLeuven, Jr., Chairperson Judy Fandale, Secretary