HomeMy WebLinkAboutMinutes - 2021.06.17 - 34736
OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held via teleconference on June 17, 2021 at 2:31 p.m.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven Jr. (Milford, MI), Lauri Siskind (Farmington
Hills, MI), Andy Meisner (Pontiac, MI), Jeff Phelps (Waterford, MI),
Gwen Markham (Ludington, MI), April Lynch (Waterford, MI), Brian
Partogian (Brandon, MI)
Members Absent: Joseph Rozell, Dave Woodward
(with notice)
Others Present:
Silvia Frank, Human Resources
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Kyle Jenn, Management & Budget
Robert Wittenberg, Treasurer’s Office
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 or 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 Siskind, seconded by Partogian to approve the minutes of May 20,
2021. Motion carried.
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) VEBA Investment
Performance Review – Alternative Investments Period Ending December 31,
2020
• Oakland County Employees’ Retirement System (ERS) VEBA Investment
Performance Review Period Ending March 31, 2021
• Oakland County Employees’ Retirement System (ERS) VEBA Monthly Flash
Report Period Ending April 30, 2021
• Oakland County Employees’ Retirement System (ERS) VEBA Asset /
Manager Summary Period Ending June 10, 2021
Oakland County VEBA Board Minutes
June 17, 2021
Page 2
Moved by Phelps, seconded by Partogian to approve the recommendation of
AndCo, for a partial rebalance of funds, including $10 million from SSgA EW
to PRISA II, $10 million from TimesSquare to PRISA II, $10 million from
Loomis SCG to PIMCO DI, and $20 million from Pictet to CS McKee. Motion
carried.
A. Louise Gates of Gabriel, Roeder, Smith and Company presented the Oakland
County Retirees’ Healthcare Trust Actuarial Valuation Report as of September
30, 2020 and provided comments summarizing highlights contained in the report.
Moved by Partogian, seconded by Phelps to receive and file the Oakland County
Retirees’ Healthcare Trust Actuarial Valuation Report as of September 30, 2020.
Motion carried.
B. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
Moved by Siskind, seconded by Phelps to conduct the Actuarial Experience
Study in 2022, using the data as of 9/30/2021. Motion carried.
VI. Unfinished Business
None
VII. New Business
None
VIII. Trustee Comment
A. Chairperson VanLeuven noted the next meeting of this Board – Thursday, July
29, 2021 and confirmed the date change for the August 12, 2021 meeting.
IX. Chairperson VanLeuven adjourned the meeting without objection at 3:05 p.m.
Respectfully submitted,
__________________________________ ____________________________________
James VanLeuven Jr., Chairperson Silvia Frank, Secretary