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Home My WebLink AboutMinutes - 2021.04.22 - 34416OAKLAND COUNTY EMPLOYEES’ RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES The Oakland County Retirement and Deferred Compensation Board meeting was held via teleconference on April 22, 2021 at 1:30 p.m. I. Call to Order/ Roll Call Members Present: James VanLeuven Jr. (Milford, MI), Joseph Rozell (Pontiac, MI), Lauri Siskind (Riverside Co, CA), Dave Woodward (Royal Oak, MI), Andy Meisner (Pontiac, MI), Jeff Phelps (Waterford, MI), Gwen Markham (Novi, MI), April Lynch (Waterford, MI), Brian Partogian (Brandon, 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, Roeder, Smith & Co. II. Approval of the Agenda A. Moved by Meisner, seconded by Partogian 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 Rozell, seconded by Siskind to approve the minutes of March 18, 2021. Motion carried. B. Retirements 1. Moved by Partogian, seconded by Rozell to approve the following Defined Benefit applications. Motion carried DEPARTMENT EFFECTIVE Name Department Effective Bernard, Charles Sheriff's Office 5/1/2021 Binder, Sandra FOC 5/1/2021 Code, Jeffrey WRC 5/1/2021 Emerick, James FM&O 5/1/2021 Gonek, Jeanne FOC 4/30/2021 Helner, David Sheriff's Office 5/1/2021 Jones, Eugene Circuit Court 4/23/2021 Larson, Russell Treasurer's Office 5/1/2021 Lee-Brantley, Edna Sheriff's Office 5/1/2021 Marks, Lori Support Services 5/1/2021 Oakland County Employees’ Retirement and Deferred Compensation Board Minutes April 22, 2021 Page 2 Mouthaan, Vickilynn FOC 4/30/2021 Petway, Tori Circuit Court 5/1/2021 Quisenberry, Nicole Sheriff's Office 5/1/2021 Rice, Marlene IT 4/30/2021 Smith, Cheryl Health 5/1/2021 Williams, Mark Fiscal Services 5/1/2021 Wilson, William FM&O 5/1/2021 2. Moved by Partogian, seconded by Siskind to approve the following Defined Contribution applications. Motion carried. DEPARTMENT EFFECTIVE Name Department Effective Anderson, Valencia Sheriff's Office 5/1/2021 Ashmead, Michael Sheriff's Office 4/10/2021 Brower, Richard Purchasing 5/22/2021 Conklin, Darlene FOC 5/1/2021 Curtis, John Sheriff's Office 5/1/2021 Falls, Mary Community Corrections 7/1/2021 Fong-Ketzmer, Amy Sheriff's Office 4/30/2021 Fouche', Jacquelyn WRC 5/1/2021 Frazee, Kenneth Prosecutor's Office 5/2/2021 Gorz, Leonard Prosecutor's Office 5/1/2021 Grimm, Kathleen Health 5/1/2021 Hain, Jennifer Human Resources 5/1/2021 Hakim, Sherry BOC 5/1/2021 Hopkins, Mark WRC 5/1/2021 Huston, Randy Sheriff's Office 5/1/2021 Iannucci, Steven FM&O 5/8/2021 Kangas, Thomas Sheriff's Office 5/1/2021 Korbut, Karen IT 5/1/2021 Marion, Darlene Fiscal Services 5/1/2021 Melvin-Johnson, Dorothy Neighborhood & Housing 5/1/2021 Nellis, Victoria 52nd District Court 5/1/2021 Overall, Joanna Public Services 3/20/2021 Petrusha, Gerald Sheriff's Office 4/10/2021 Prosyniuk, Colleen IT 4/29/2021 Ricklefs, Rodney WRC 4/17/2021 Sante, Billie Sheriff's Office 5/1/2021 Sawinski, Carol Human Resources 5/1/2021 Shipley, Kimberly 52/3 District Court 3/27/2021 Stocker, Kristin Community Corrections 5/1/2021 Stout, Craig Sheriff's Office 4/29/2021 Taylor, Lori Human Resources 5/29/2021 Tournaud, Robert Sheriff's Office 10/4/2021 Tryles, Shelley Circuit Court 5/1/2021 Twyman, Bette WRC 5/1/2021 Oakland County Employees’ Retirement and Deferred Compensation Board Minutes April 22, 2021 Page 3 VanNest, Pamela Central Services 5/1/2021 Watkins, Anna Health 6/2/2021 Westlund, Dawn Human Resources 5/1/2021 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) Monthly Flash Report Period Ending March 31, 2021 • Oakland County Employees’ Retirement System (ERS) Asset / Manager Summary Period Ending April 7, 2021 B. Moved by Siskind, seconded by Partogian to receive and file the April 2021 Administrator’s Report. Motion carried. C. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a verbal update on legal matters. Moved by Woodward, seconded by Phelps to receive and file the April 2021 update on securities litigation by Miller Law Firm. Motion carried. VI. Unfinished Business VII. New Business A. Louise Gates of Gabriel, Roeder, Smith and Company presented the OCERS Annual Actuarial Valuation Report as of September 30, 2020 and provided comments summarizing highlights contained in the report. Moved by Rozell, seconded by Woodward to receive and file the OCERS Annual Actuarial Valuation Report as of September 30, 2020. Motion carried. Moved by Meisner, seconded by Childs to approve the following transfers as listed on page A-2 of the Actuarial Valuation Report. Motion carried. • Transfer $41,336,519 from the Pension Reserve - General County Fund to the Retirement Reserve-General County Fund. • Transfer $4,957,017 from the Pension Reserve-Sheriffs Command Officers Fund to the Retirement Reserve-Sheriffs Command Officers Fund. • Transfer $14,762,115 from the Pension Reserve-Sheriff Deputies Fund to the Retirement Reserve-Sheriff Deputies Fund. B. Moved by Partogian, seconded by Woodward to approve the use of forfeitures in the amount of $485,200 to offset 401(a) employer contributions, as recommended by Secretary Frank. Motion carried. C. Moved by Siskind, seconded by Phelps to receive and file the 2020 Annual Report. Motion carried. D. Moved by Woodward, seconded by Meisner to receive and file the March 25, 2021 memo from Secretary Frank to the Board of Commissioners regarding the Required Reporting for State of Michigan PA 202 of 2017 and Michigan Department of Treasury Form 5572. Motion carried. Oakland County Employees’ Retirement and Deferred Compensation Board Minutes April 22, 2021 Page 4 E. Moved by Partogian, seconded by Siskind to receive and file the April 15, 2021 memo from Secretary Frank to Brittani Anthony, Director of HR, regarding full time separation of service and rehiring PTNE employees. Discussion followed. Roll Call: Ayes: VanLeuven, Meisner, Lynch, Woodward Nays: Rozell, Markham, Partogian, Phelps, Siskind Motion failed. (4 Ayes, 5 Nays) No action was taken. F. Chairperson VanLeuven requested that AndCo present to the full board on Environmental, Social and Governance (ESG) strategies at the June or July meeting. VIII. Trustee Comment A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, May 20, 2021. IX. Chairperson VanLeuven adjourned the meeting without objection at 2:51 p.m. Respectfully submitted, __________________________________ __________________________________ James H. VanLeuven, Jr., Chairperson Silvia Frank, Secretary