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OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held March 17, 2022 at 3:07 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, Dave Woodward,
Kyle Jen, Dion Stevens, Gwen Markham, Brian Partogian
Members Absent: Robert Wittenberg
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Karen Skupin, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Louise Gate, GRS
Chris Kuhn, AndCo
Peter Brown, AndCo
II. Approval of the Agenda
A. Moved by Phelps, seconded by Markham to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Regular Agenda
A. Moved by Partogian, seconded by Phelps to approve the minutes of February 17,
2022. 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 Period Ending December 31, 2021
• Oakland County Employees’ Retirement System (ERS) VEBA Monthly Flash
Report Period Ending February 28, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Asset /
Manager Summary Period Ending March 10, 2022
Moved by Van Leuven, seconded by Partogian to proceed with the
recommendation of AndCo to utilize the Vanguard Target Retirement 2030 Fund
(VTHRX) to hold assets for future benefit payments and other cash needs.
Motion carried.
B. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
Oakland County VEBA Board Minutes
March 17, 2022
Page 2
Moved by Van Leuven, seconded by Phelps to approve the Securities Fraud
Monitoring and Litigation Services Request for Proposals (RFP). Motion carried.
VI. Unfinished Business
None
VII. New Business
A. Moved by Woodward, seconded by Markham to adopt the Oakland County
VEBA Resolution to divest investments in securities issued by Russian
companies, as amended and recommended by the Investment Subcommittee.
Motion carried.
VIII. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board – Thursday, April 28,
2022
IX. Without objection, Chairperson Rozell adjourned the meeting at 3:12 p.m.
Respectfully submitted,
__________________________________ ____________________________________
Joseph Rozell, Chairperson Carly Webster, Secretary