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OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held via teleconference on June 18, 2020 at 2:43 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr., Joseph Rozell, Helaine Zack,
Dave Woodward, Curtis Childs, Lauri Siskind, Jeff Phelps,
April Lynch
Members Absent with Notice:
Andy Meisner
Others Present:
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Louise Gates, GRS Consulting
Natalie Neph, Treasurer’s Office
Eric Palacios, Treasurer’s Office
Neil Jaine, Treasurer’s Office
Chris Kuhn, AndCo
Peter Brown, AndCo
II. Approval of the Agenda
Moved by Zack, seconded by Childs to approve the agenda. Motion carried.
A. Moved by Siskind, seconded by Lynch to temporarily suspend the Article IV –
General Rules & Regulations of the Board ByLaws, to allow for this Board meeting
to be held via teleconference during the COVID-19 pandemic. Motion carried.
III. Public Comment
None
IV. Regular Agenda
A. Moved by Woodward, seconded by Siskind to approve the minutes of May 21,
2020. Motion carried.
V. Reports
A. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided an
update on legal matters.
Moved by Zack, seconded by VanLeuven to authorize the June 18, 2020 letter
from VanOverbeke, Michaud & Timmony, P.C to be sent to Northern Trust, which
would allow General Counsel to obtain read only access to current and historical
account holdings with Northern Trust. Motion carried.
B. Chris Kuhn and Peter Brown of AndCo Consulting presented the following
reports and provided comments summarizing highlights contained in each:
• Oakland County Employees’ Retirement System (ERS) VEBA Quarterly
Report as of March 31, 2020
• Oakland County Employees’ Retirement System (ERS) VEBA Monthly Flash
Report Period Ending April 30, 2020
Oakland County VEBA Board Minutes
June 18, 20 20
Page 2
• Oakland County Employees’ Retirement System (ERS) VEBA
Asset / Manager Summary – June 5, 2020
VI. Unfinished Business
None
VII. New Business
A. Chris Kuhn of AndCo summarized the Mid-Cap Value Strategy presentation
given to the Investment Subcommittee.
Moved by Phelps, seconded by Lynch to hire Nuance Mid-cap Value strategy
and to use the funds from the Russell Mid-Cap Value Index ETF. Motion carried.
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, July
16, 2020
IX. Chairperson VanLeuven adjourned the meeting without objection at 2:51 p.m.
Respectfully submitted,
__________________________________ ____________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary