HomeMy WebLinkAboutMinutes - 2022.01.20 - 35297OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held January
20, 2022 at 1:30 p.m. in the West Conference Room of the L. Brooks Patterson Building.
I. Call to Order/ Roll Call
Members Present:
James VanLeuven, Jeff Phelps, Joe Rozell, Robert Wittenberg,
Brian Partogian, Dave Woodward, Kyle Jen
Members Absent: Gwen Markham
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Louise Gate, GRS
Chris Kuhn, AndCo
Peter Brown, AndCo
Secretary Webster chaired the meeting.
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Partogian to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Election of Officers
A. Call for nominations from the floor for Chairperson. Moved by Van Leuven,
seconded by Partogian that Joe Rozell be nominated as Chair.
Moved by VanLeuven, seconded by Partogian to close nominations for
chairperson and cast a unanimous vote for Joe Rozell. Motion carried.
Chairperson Rozell assumed the chair and thanked Trustee Van Leuven for his many years
serving as the Board Chairperson.
b. Call for nominations from the floor for Vice Chairperson. Moved by Van Leuven,
seconded by Partogian that Jeff Phelps be nominated for Vice Chair.
Moved by VanLeuven, seconded by Partogian to close nominations for vice
chairperson and cast a unanimous vote for Jeff Phelps. Motion carried.
V. Regular Agenda
A. Moved by Van Leuven, seconded by Phelps to approve the minutes of January
20, 2022. Motion carried.
B. Retirements
1. Moved by Van Leuven, seconded by Wittenberg to approve the following
Defined Benefit applications. Motion carried.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
January 20, 2022
Page 2
Name Department Effective
Cheryl Christie Circuit Court 1/19/2022
Therese Comparoni-Smyack Deferred 2/15/2022
2. Moved by Phelps, seconded by Wittenberg to approve the following Defined
Contribution applications. Motion carried.
Name Department Effective
Ronald Crank Clerk/Register of Deeds 1/29/2022
Ann Dalrymple Fiscal Services 2/25/2022
Patricia Hannum Information Technology 2/1/2022
Sharon Presti Health & Human Services 1/4/2022
Scott Eddy Sheriff's Office 2/3/2022
William K. Kirkpatrick Information Technology 1/29/2022
Cindy Morales Circuit Court 1/8/2022
John O’Neill Prosecuting Attorney's Office 12/31/2021
3. Moved by Partogian, seconded by Van Leuven to approve the following
Defined Contribution Non-Duty Death application. Motion carried.
Meagan Loken (Robert) Sheriff's Office 1/9/2022
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, 2021
• Oakland County Employees’ Retirement System (ERS) Asset / Manager
Summary Period Ending December 31, 2021
Moved by VanLeuven, seconded by Phelps to proceed with the recommendation
of AndCo to transition the GLA portfolios using the Russell Midcap VO and the
Russell Midcap VOE for the Nuance funds instead of the Fidelity Midcap Index
Funds that were approved at the December meeting. Motion carried.
B. Moved by Van Leuven, seconded by Wittenberg to receive and file the DB/DC 4th
Quarter 2021 reports. Motion carried.
C. Moved by Partogian, seconded by Wittenberg to receive and file the minutes of
the January 18 and January 20, 2022 Investment Subcommittee. Motion carried.
D. Moved by Woodward, seconded by Van Leuven to receive and file the January
2022 Administrator’s Report. Motion carried.
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided an
update on legal matters.
Moved by Wittenberg, seconded by Van Leuven to receive and file the January
2022 update on securities litigation by Miller Law Firm and the Legal Report.
Motion carried.
VII. Unfinished Business
A. The trustees discussed the Citizen Member Appointment.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
January 20, 2022
Page 3
Moved by Van Leuven, seconded by Woodward to recommend Dion Stevens for
Citizen Member to the LAGO committee. Motion carried.
VIII. New Business
A. Louise Gates of GRS Consulting, summarized the GASB Statement No. 67 Plan
Reporting & Accounting Schedules as of September 30, 2021.
Moved by Wittenberg, seconded by Partogian to receive and file the GASB
Statement No. 67 Plan Reporting & Accounting Schedules as of September 30,
2021. Motion carried.
B. Moved by Van Leuven, seconded by Woodward to approve GRS invoice No.
466900 in the amount of $6,500 for actuarial services related to the GASB
Statement No. 67 reporting. Motion carried.
C. Moved by Phelps, seconded by Van Leuven to approve the VMT Invoice Nos.
111207, 111208, 111209, 111210 in the combined amount of $6,345.50 for legal
services. Motion carried.
IX. Trustee Comment
A. Chairperson Rozell reappointed trustees Wittenberg, Markham, Jen and Phelps
to the ESG ad hoc committee and trustees Van Leuven, Phelps, Wittenberg and
himself to the Investment Subcommittee.
B. Chairperson Rozell noted the ESG committee will meet Wednesday, February
16, 2022 and the Investment Subcommittee will meet Thursday, February 17,
2022.
C. Chairperson Rozell noted the next meeting of this Board – Thursday, February
17, 2022
X. Moved by Van Leuven, seconded by Wittenberg to adjourn the meeting at 2:11 p.m.
Motion carried.
Respectfully submitted,
__________________________________ __________________________________
Joseph Rozell., Chairperson Carly Webster, Secretary
