HomeMy WebLinkAboutMinutes - 2022.06.23 - 37692OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held June 23,
2022 at 1:39 p.m. in Committee Room A at the Oakland County Board of Commissioners
Building.
I. Call to Order/ Roll CaII
Members Present:
Joe Rozell, Robert Wittenberg, Kyle Jen, Dave Woodward, Brian
Partogian, James Van Leuven, Dion Stevens
Members Absent: Jeff Phelps, Gwen Markham
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Chris Kuhn, AndCo
Peter Brown, AndCo
Louise Gate, GRS
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Partogian to approve the agenda. Motion
carried.
III. Public Comment
None
IV. Regular Agenda
A. Moved by Van Leuven, seconded by Wittenberg to approve the minutes of May
12, 2022. Motion carried.
B. Retirements
1. Moved by Partogian, seconded by Van Leuven to approve the following
Defined Benefit and Defined Contributions applications. Motion carried.
Name Department Effective
Holly Conforti Fiscal Services 7/2/2022
Mary Schusterbauer Circuit Court 7/1/2022
Name Department Effective
Todd Chatterson Sheriff's Office 6/25/2022
Denise Cross Circuit Court 6/7/2022
Shannon O'Brien Prosecutor's Office 7/14/2022
Deborah Page Prosecutor's Office 6/2/2022
Caijian Pan IT 6/15/2022
Julie Shih Fiscal Services 7/2/2022
Douglas Stover WRC 6/26/2022
Asher Todorovsky Children's Village 8/2/2022
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June zn.2022
Page 2
V. Reports
A. Chris Kuhn and Peter Brown ofAndCoConsulting presented the following
reports and provided comments summarizing higNightscuntain*d in each:
• Oakland County Employees' Retirement System (ER8) Investment
Performance Review Period Ending March 31.2O22
= Oakland County Employees' Retirement System (ERG) Monthly Flash Report
Period Ending April 3O.2O22
w Oakland County Employees' Retirement System (ER8)Asset /Manager
Summary Period Ending June 14.2O22
• Oakland County Employees' Retirement System (ERG)Alternative
Investments Summary Period Ending December 31.2U21
B. Moved by Van Leuven, seconded by Wittenberg to receive and file the minutes of
the May 20, 2022 ESG as hoc committee. Motion carried.
C. Moved bvVan Leuven, seconded bvPertogionhoreceive and file the June 2O22
Administrator's Report. Motion carried.
D. Moved byWoodward, seconded byJento receive and file the Letter to the Board
appointing Kelly Pena as Assistant Secretary tnthe Board. yWndon carried.
E. Aaron Castle ofVon(}verbeka. Michaud &Tinnnnnny' P.C. K/MTl provided
verbal update on legal matters.
Moved bvStevens, seconded bvPartogiantoreceive and file the June 2022
update onsecurities litigation by Miller Law Firm. Motion carried.
Vi. Unfinished Business
None
Vii New Business
A. Chairperson RozeUupdated the trustees onthe Investment Subcommittee
recommendation for Securities Fraud Monitoring and Litigation Services.
Moved byVan Leuven, seconded bvStevens to keep Barrack, Rodos&Booine
and hoenter into agreement with Bernstein LbovvbzBerger QGrossman and
Labaton Sucharow for a 5-year commitment for Securities Fraud Monitoring and
Litigation 8an/ioea. Motion carried.
Moved by Van Leuven, seconded by Wittenberg to terminate the agreement with
Miller Law Firm. Motion carried.
B. Moved byJan.seconded by Wittenberg to authorize the GRSfee proposal to
conduct the required Retirement System Experience 8tudy, beginning with a
draft letter submitted by the end of 2022. Motion carried.
C. Moved byStevens, seconded byVan Leuven toapprove GRGinvoice No.
470000inthe amount of$2.430for Minute Master services for CY2021.Motion
carried.
11U. Trustee Comment
A. Chairperson RnzeUnoted the next meeting nfthis Board — Thursday, July 21.
2022.
IX. Moved by Wittenberg, seconded byWoodward to adjourn the meeting at2:44pm.
Motion carried.
h Biifie Chairperkfl
i
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 23, 2022
Page 3
Respectfully submitted,
Carly Webster, ecretary