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OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held via teleconference on January 21, 2021 at 2:29 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr. (Clearwater, FL), Joseph Rozell
(Huntington Woods, MI), Lauri Siskind (Riverside Co, CA),
Dave Woodward (Royal Oak, MI), Andy Meisner (Southfield, MI),
Jeff Phelps (Waterford, MI), Brian Partogian (Pontiac, MI)
Members Absent (with notice):
April Lynch, Gwen Markham
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.
Natalie Neph, Treasurer’s Office
Secretary Frank chaired the meeting.
II. Approval of the Agenda
A. Moved by Phelps, seconded by Woodward to approve the agenda and to
temporarily suspend 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. Election of Officers
A. Call for nominations from the floor for Chairperson. Moved by Siskind, seconded
by Partogian that James VanLeuven be nominated as Chairperson. Motion
carried.
Chairperson VanLeuven assumed the chair.
b. Call for nominations from the floor for Vice Chairperson. Moved by Phelps,
seconded by Partogian that Joseph Rozell be nominated for Vice Chair. Motion
carried.
V. Regular Agenda
A. Moved by Partogian, seconded by Siskind to approve the minutes of December
17, 2020. Discussion followed.
Moved by Partogian, seconded by Siskind to amend the minutes to add the
location of the trustees. Motion carried.
Motion carried, as amended.
Oakland County VEBA Board Minutes
January 21, 2021
Page 2
VI. 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 Monthly Flash
Report Period Ending December 31, 2020
• Oakland County Employees’ Retirement System (ERS) SST Monthly Flash
Report Period Ending December 31, 2020
B. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
VII. Unfinished Business
None
VIII. New Business
A. Secretary Frank summarized her memo to the Board, recommending approval
for the use of Retirement Health Savings (RHS) Plan forfeitures.
Moved by Rozell, seconded by Partogian to approve forfeiture use for the offset
of 2 pay cycles of RHS contributions of approximately $170,000 each. Motion
carried.
B. Moved by Partogian, seconded by Phelps to approve Secretary Frank’s letter to
Loomis, Sayles Trust Company, LLC, requesting the transfer of securities
(Schedule of Investments listed in the letter) into the Agency MBS Trust and the
manager will use this Trust for future allocations to agency MBS securities on
behalf the Fund, as recommended by the investment consultant. Motion carried.
C. Moved by Partogian, seconded by Phelps to approve the GRS Invoice No.
459481 in the amount of $9,400 for actuarial services related to the GASB
Statement No. 74. Motion carried.
IX. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday,
February 18, 2021.
B. Chairperson VanLeuven appointed Trustees Rozell, Phelps, Mesiner and himself
for the Investment Subcommittee. The subcommittee will plan to meet February
17, 2021 to hear the Real Estate Debt Search presentation by AndCo Consulting
and the DC Consultant RFP interviews.
X. Chairperson VanLeuven adjourned the meeting without objection at 2:43 p.m.
Respectfully submitted,
__________________________________ ____________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary