HomeMy WebLinkAboutMinutes - 2020.08.25 - 34070OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD
INVESTMENT SUB-COMMITTEE MINUTES
A meeting of the Oakland County Employees' Retirement and Deferred Compensation Board
Investment Sub -Committee was held via teleconference on August 25 , 2020 at 9:00 a.m.
I. Call to Order/ Roll Call
Members Present:
James H. VanLeuven, Jr.
Joseph Rozell
Jeffrey Phelps
Andy Meisner
Others Present:
Silvia Frank, Human Resources
Carly Webster, Human Resources
Lauri Siskind, Trustee
Jason May, Graystone Consulting
II. Approval of the Agenda
Moved by Phelps, seconded by Rozell to approve the agenda. Motion carried.
III. Public Comment
None
IV. Regular Agenda
None
V. Reports
A. Jason May of Graystone Consulting summarized the key points of the Value & Fee
Benchmarking Reports with FEEPOINT calculation and Graystone’s request for an
increased fee, which were presented in depth at the Board meeting on August 20,
2020.
Trustees discussed the results of the 2016 Request for Proposals (RFP) for DC
Consultant:
Graystone $150,000 actual
RPA $227,500 estimated
Schwartz $237,500 actual
Moved by VanLeuven , seconded by Phelps to recommend to the full Board to
increase the fee for Graystone Consulting from $150,000 to $200,000 effective April
1, 2020 for a 3-year period ending April 1, 2023, pending review by legal counsel.
Motion carried.
VI. Unfinished Business
None
VII. New Business
None
VIII. Trustee Comment
None
IX. Chairperson VanLeuven adjourned the meeting without objection at 9:22 a.m.
Investment Sub-Committee Minutes
Oakland County Employees’ Retirement and Deferred Compensation Board
August 25, 2020
Page 2
Respectfully submitted,
________________________________ ________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary