HomeMy WebLinkAboutMinutes - 2020.12.17 - 34055
OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held via teleconference on December 17, 2020 at 2:42 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr. (Clear Water, FL), Joseph Rozell (Bonita
Springs, FL), Lauri Siskind (Riverside Co, CA), Dave Woodward
(Pontiac, MI), Curtis Childs (Pontiac, MI), Andy Meisner (Pontiac,
MI), Jeff Phelps (Waterford, MI), April Lynch (Waterford, MI),
Helaine Zack (Huntington Woods, MI)
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.
Chris Kuhn, AndCo
Peter Brown, AndCo
Louise Gates, Gabriel, Rhoeder, Smith & Co.
II. Approval of the Agenda
A. Moved by Zack, seconded by Childs to approve the agenda and 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.
III. Public Comment
Chairperson VanLeuven recognized and thanked Trustees Zack and Childs for their
years of service on the Board.
IV. Regular Agenda
A. Moved by Siskind, seconded by Meisner to approve the minutes of November
19, 2020. Motion carried.
V. Reports
A. 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 Period Ending September 30, 2020
• Oakland County Employees’ Retirement System (ERS) VEBA Monthly Flash
Report Period Ending October 31, 2020
• Oakland County Employees’ Retirement System (ERS) VEBA Defined
Benefit Plan Asset / Manager Summary as of December 10, 2020
Moved by VanLeuven, seconded by Childs to approve the recommendation of
AndCo to rebalance the portfolio by moving $20 million from T. Rowe Price to
Loomis, Sayles Core Plus and $10 million from Lazard Intl Equity to PIMCO.
Motion carried.
• Oakland County Employees’ Retirement System Superseding Trust Quarterly
Report Period Ending September 30, 2020
Oakland County VEBA Board Minutes
December 17, 2020
Page 2
• Oakland County Employees’ Retirement System Superseding Trust Asset /
Manager Summary as of December 10, 2020.
Moved by Meisner, seconded by Siskind to transfer $600k from SSgA
S&P500 to CS McKee. Motion carried.
B. Louise Gates of Gabriel, Roeder, Smith & Co.(GRS) provided comments
summarizing the highlights contained in the Oakland County Retirees’ Health
Care Trust GASB Statement No. 74 Plan Financial Reporting for Post
Employment Benefit Plans Other Than Pension Plans.
Moved by Woodward, seconded by Meisner to receive and file the Oakland
County Retirees’ Health Care Trust GASB Statement No. 74 Plan Financial
Reporting for Post Employment Benefit Plans Other Than Pension Plans.
Motion carried.
C. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
VI. Unfinished Business
None
VII. New Business
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday,
January 21, 2021
IX. Chairperson VanLeuven adjourned the meeting without objection at 2:57 p.m.
Respectfully submitted,
__________________________________ ____________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary