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OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held January 20, 2022 at 2:12 p.m. in 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 Rozell, seconded by Wittenberg to amend the agenda to add Closed
Session to discuss pending securities litigation claim, under New Business E.
Moved by Rozell, seconded by Wittenberg to approve the agenda as amended.
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 Wittenberg to close nominations for
chairperson and cast a unanimous vote for Joe Rozell. Motion carried.
Chairperson Rozell assumed the chair.
b. Call for nominations from the floor for Vice Chairperson. Moved by Van Leuven,
seconded by Jen, that Jeff Phelps be nominated for Vice Chair.
Moved by VanLeuven, seconded by Jen to close nominations for vice chairperson
and cast a unanimous vote for Jeff Phelps. Motion carried
V. Regular Agenda
A. Moved by Phelps, seconded by Woodward to approve the minutes of December
16, 2021. Motion carried.
Oakland County VEBA Board Minutes
January 20, 2022
Page 2 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) VEBA Monthly Flash
Report Period Ending December 31, 2021
• Oakland County Employees’ Retirement System (ERS) VEBA 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. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters. (Deferred to New Business item E.)
VII. Unfinished Business
None
VIII. New Business
A. Louise Gates of GRS Consulting, summarized the Oakland County Retirees’
Healthcare Trust GASB Statement No. 74 Financial Reporting for
Postemployment Benefit Plans other than Pension Plans as of September 30,
2021.
Moved by Van Leuven, seconded by Wittenberg to receive and file the Oakland
County Retirees’ Healthcare Trust GASB Statement No. 74 Financial Reporting
for Postemployment Benefit Plans other than Pension Plans as of September 30,
2021.
B. Moved by Wittenberg, seconded by Phelps to approve GRS Invoice No. 466909
in the amount of $7,500 for actuarial services related to the GASB Statement No.
74. Motion carried.
C. Moved by Van Leuven, seconded by Phelps to approve GRS Invoice No. 466636
in the amount of $2,900 for the actuarial attestation for Medicare Part D. Motion
carried.
D. Moved by Wittenberg, seconded by Partogian to approve VMT Invoice Nos.
111211 and 11212 in the combined amount of $1,554 for legal services. Motion
carried.
E. Moved by Woodward, seconded by Van Leuven to go into closed session to
discuss pending securities litigation claim.
Roll Call:
Ayes: Van Leuven, Rozell, Wittenberg, Jen, Woodward, Partogian, Phelps
Nays: None
Motion carried. Closed session commenced at 2:21 p.m.
Closed session concluded at 2:31 p.m.; agenda resumed.
Oakland County VEBA Board Minutes
January 20, 2022
Page 3 IX. Trustee Comment
A. Trustee Partogian asked about the Empower acquisition of Prudential. Secretary
Webster stated Prudential will be attending the next board meeting in person for
an update on the transaction.
B. Chairperson Rozell noted the next meeting of this Board – Thursday, February
17, 2022
X. Moved by Wittenberg, seconded by Jen to adjourn the meeting at 2:33 p.m. Motion
carried.
Respectfully submitted,
__________________________________ ____________________________________
Joseph Rozell, Chairperson Carly Webster, Secretary