HomeMy WebLinkAboutMinutes - 2020.05.21 - 33321OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held via
teleconference on May 21 , 2020 at 1:30 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, April Lynch
Members Absent with Notice:
Dave Woodward
Others Present:
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Kelly Pena, Human Resources
Joellen Shortley, Corporation Counsel
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Louise Gates, GRS Consulting
Natalie Neph, Treasurer’s Office
Stephanie Biddle, Prudential Retirement
Dan Evans, Prudential Retirement
Jason May, Graystone Consulting
Freddie Sarno, Graystone Consulting
II. Approval of the Agenda
Moved by Zack, seconded by Rozell to approve the agenda.
Moved by VanLeuven, 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 Zack, seconded by Rozell to approve the agenda, as amended. Motion
carried.
A. Moved by Siskind, seconded by Zack 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 Phelps to approve the minutes of April 30, 2020.
Motion carried.
B. Retirements
1. Moved by Childs, seconded by Phelps to approve the following Defined
Contribution applications. Motion carried.
DEPARTMENT EFFECTIVE
Nan Chenoweth Facilities Management 5/30/2020
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
May 21, 2020
Page 2
Leonard Poplaskie Sheriff’s Office 5/23/2020
V. Reports
A. Stephanie Biddle of Prudential Retirement presented the 1st Quarter 2020
Oakland County Retirements Plan Summary as of March 31, 2020 and provided
comments summarizing highlights contained in the report. Authorizing Prudential
to offer Green Path to participants will be on the June agenda.
B. Jason May of Graystone Consulting distributed the 1st Quarter 2020 Plan
Investment Review – Oakland County 401a/457b Plans and provided comments
summarizing highlights contained in the report.
C. Moved by Siskind, seconded by Childs to receive and file the May 2020
Administrator’s Report Motion carried.
D. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. provided an update on
legal matters.
a. Moved by Phelps, seconded by Meisner to receive and file the May 2020
update on securities litigation by Miller Law Firm. Motion carried.
b. Moved by Siskind, seconded by Meisner to receive and file the May 2020
update on Class Action Services by Northern Trust. Motion carried.
c. Moved by Siskind, seconded by Phelps to receive and file the May 2020
Legal Report by Aaron Castle. Motion carried.
VI. Unfinished Business
A. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. reviewed the CARES
Act and the trustees discussed the different provisions. No action was taken. The
legislation will be revisited at the June Board meeting.
VII. New Business
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, June
18, 2020
IX. Chairperson VanLeuven adjourned the meeting without objection at 3:11 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary