HomeMy WebLinkAboutMinutes - 2021.02.18 - 34195OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held via
teleconference on February 18, 2021 at 1:30 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr. (Clearwater, FL), Joseph Rozell (Pontiac,
MI), Lauri Siskind (Riverside Co, CA), Dave Woodward (Royal
Oak, MI), Andy Meisner (Harbor Springs, MI), Jeff Phelps
(Waterford, MI), Gwen Markham (Novi, MI), April Lynch
(Waterford, MI)
Members Absent (with notice):
Brian Partogian (Pontiac, MI)
Others Present:
Brittani Anthony, Human Resources
Jennifer Hain, Human Resources
Silvia Frank, Human Resources
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Robert Wittenberg, Treasurer’s Office
Natalie Neph, Treasurer’s Office
Louise Gates, Gabriel, Rhoeder, Smith & Co.
John Krakowiak, Graystone
Amy Cole, Graystone
Erik Burger, Graystone
Stephanie Biddle, Prudential
Dan Evans, Prudential
Ed Bolt, Prudential
II. Approval of the Agenda
A. Moved by Siskind, seconded by Phelps 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. Regular Agenda
A. Moved by Meisner, seconded by Siskind to approve the minutes of January 21,
2021. Motion carried.
B. Moved by Siskind, seconded by Meisner to approve the corrected minutes of
November 19, 2020 and December 17, 2020. Motion carried.
C. Retirements
1. Moved by Phelps, seconded by Woodward to approve the following Defined
Benefit applications. Motion carried
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
February 18, 2021
Page 2
DEPARTMENT EFFECTIVE
Davis, Patricia Corporation Counsel 3/06/2021
Leppek, Randy Sheriff's Office 3/13/2021
Strawska, Scott Sheriff's Office 2/27/2021
2. Moved by Rozell, seconded by Lynch to approve the following Defined
Contribution application. Motion carried.
DEPARTMENT EFFECTIVE
Batarseh, Nadia Health 2/17/2021
Beedle, Sandra Corporation Counsel 5/01/2021
Dare, Fred Sheriff's Office 2/20/2021
Forzley, Kathleen Health & Human Services 2/12/2021
Gooding, Alissa Sheriff's Office 3/02/2021
Green, Stacy Sheriff's Office 2/25/2021
Hopkins, Karin Children’s Village 3/05/2021
Kettlewell, David Sheriff’s Office 3/06/2021
Lacey, Lloyd Sheriff's Office 4/23/2021
Marsac, Michael FM&O 2/20/2021
Maurer, Ronald Equalization 3/27/2021
McGehee, Janise Friend of the Court 2/02/2021
McNally, Kevin Sheriff's Office 1/05/2021
Praski, Randall Sheriff's Office 2/04/2021
Quarles, Nancy Board of Commissioners 1/02/2021
Runyan, Corrine Medical Examiner’s Office 2/13/2021
Spehar, Jody Veterans' Services 2/02/2021
Taylor, Debra Fiscal Services 3/13/2021
Ward, Linda District Court 4/03/2021
White, Theresa Health & Human Services 4/30/2021
V. Reports
A. Stephanie Biddle of Prudential presented the 4th Quarter 2020 Oakland County
Plans Summary and provided comments summarizing highlights contained in the
report.
B. John Krakowiak of Graystone Consulting presented the 4th Quarter 2020
401a/457b and PTNE Plan Investment Review and provided comments
summarizing highlights contained in the report.
C. Moved by Phelps, seconded by Siskind to receive and file the February 2021
Administrator’s Report. Motion carried.
D. Moved by Phelps, seconded by Meisner to receive and file the minutes of the
February 10, 2021 Investment Subcommittee. Motion carried.
Moved by Phelps, seconded by Siskind to receive and file the minutes of the
February 17, 2021 Investment Subcommittee. Motion carried.
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
Moved by Woodward, seconded by Rozell to receive and file the February 2021
update on securities litigation by Miller Law Firm. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
February 18, 2021
Page 3
Moved by Siskind, seconded by Phelps to receive and file the February 2021
Legal Report. Motion carried.
VI. Unfinished Business
A. Moved by Phelps, seconded by Meisner to retain Graystone Consulting for the
Defined Contribution (DC) Consultant, pending legal review of the new 5-year
contract. Discussion followed.
Moved by Woodward, seconded by Markham to postpone taking action on the
DC Consultant RFP. Discussion followed.
Roll Call:
Ayes: Lynch, Woodward, Markham
Nays: Siskind, Phelps, Meisner, Rozell, VanLeuven
Motion failed. (3 Ayes, 5 Nays)
Roll Call on the original motion:
Ayes: Siskind, Phelps, Meisner, Rozell, VanLeuven
Nays: Lynch, Woodward, Markham
Motion carried. (5 Ayes, 3 Nays)
VII. New Business
A. Moved by Phelps, seconded by Lynch to allocate $8 million of the OCERS fund
to the Bloomfield Capital Income Fund V, pending legal review and successful
contract negotiation. Motion carried.
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, March
18, 2021.
IX. Chairperson VanLeuven adjourned the meeting without objection at 2:59 p.m.
Respectfully submitted,
__________________________________ __________________________________
James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary