HomeMy WebLinkAboutMinutes - 2021.01.21 - 34118OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held via
teleconference on January 21, 2021 at 1:30 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), Gwen Markham (Novi, MI), Brian
Partogian (Pontiac, MI)
Members Absent (with notice):
April Lynch
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 Rozell 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 Rozell, seconded
by Meisner 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 Siskind, seconded by Partogian to approve the minutes of December
17, 2020. Discussion followed.
Moved by Siskind, seconded by VanLeuven to amend the minutes to add the
location of the trustees. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
January 21, 2021
Page 2
Motion carried, as amended.
B. Retirements
1. Moved by Partogian, seconded by Phelps to approve the following Defined
Benefit applications. Motion carried.
DEPARTMENT EFFECTIVE
Burton, James Information Technology 2/27/2021
Cook, Lori Deferred – Pros. Office 3/07/2021
Jones, Trina FM&O 2/17/2021
Lathers, Tina Circuit Court 2/13/2021
Lopez, Carlos Sheriff's Office 2/04/2021
Pruitt, Cledonia Clerk/Register of Deeds 2/17/2021
Seling, Thomas Sheriff's Office 3/02/2021
2. Moved by Siskind, seconded by Partogian to approve the following Defined
Contribution application. Motion carried.
DEPARTMENT EFFECTIVE
Arndorfer, Deborah District Court III 1/13/2021
Campbell, Kerry Sheriff's Office 2/27/2021
Dougherty, Veronica Sheriff's Office 2/02/2021
Feneley, Scott Sheriff's Office 1/16/2021
Garcia, Roland Prosecutor's Office 5/01/2021
Garin,Mary S. Prosecutor's Office 1/09/2021
Klock, Sheila Health 1/23/2021
Laskowsky, Jonathon Information Technology 1/05/2021
Ledgerwood, Sherry Prosecutor's Office 1/23/2021
Loveland, Catherine Friend of the Court 2/17/2021
Marohn, Gregory Sheriff's Office 12/10/2020
McAndrew, Thomas Prosecutor's Office 1/09/2021
Molinar, Douglas Sheriff's Office 3/06/2021
Newman, Mark County Exec Administration 2/13/2021
Pope-Starnes, Sara Prosecutor's Office 1/09/2021
Renda, Linda Friend of the Court 2/03/2021
Schultz, Dean Corporation Counsel 2/03/2021
Vangilder, Marvin Sheriff’s Office 2/27/2021
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) Monthly Flash Report
Period Ending December 31, 2020
Peter Brown of AndCo Consulting provided an update on the Dune Real Estate
Partners Virtual Annual Meeting
B. Moved by Siskind, seconded by Partogian to receive and file 4th Quarter 2020
Defined Benefit and Defined Contribution reports. Motion carried.
C. Moved by Phelps, seconded by Meisner to receive and file the January 2021
Administrator’s Report. Motion carried.
D. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
January 21, 2021
Page 3
Moved by Siskind, seconded by Partogian to receive and file the January 2021
update on securities litigation by Miller Law Firm. Motion carried.
Moved by Woodward, seconded by Siskind to receive and file the January 2021
Legal Report. Motion carried.
VII. Unfinished Business
None.
VIII. New Business
A. 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.
B. Moved by Siskind, seconded by Partogian to approve the GRS Invoice No.
459481 in the amount of $8,900 for actuarial services related to the GASB
Statement No. 67. Motion carried.
C. Moved by Siskind, seconded by Partogian to approve the Independent Medical
Evaluation, PC (IME) Invoice No. 115497 in the amount of $1,900 for IME claim
No. 37111. Motion carried.
D. Moved by Woodward, seconded by Partogian to approve VanOverbeke, Michaud
& Timmony, P.C. Invoice No. 10738, 10739, 10740, 10741, 10742, 10743 in the
combined amount of $13,782.50 for legal services. Motion carried.
E. Secretary Frank gave an update on the Defined Contribution (DC) Consultant
Request for Proposal (RFP).
Moved by VanLeuven, seconded by Woodward to amend the DC Consultant
RFP back to the original minimum qualifications. Motional 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.
C. Trustee Siskind announced the MAPERS New Trustee Workshop will be on
February 12, 2021.
X. Chairperson VanLeuven adjourned the meeting without objection at 2:29 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary