HomeMy WebLinkAboutMinutes - 2022.09.20 - 38291OAKLAND COUNTY EMPLOYEES’
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
September 15, 2022 at 1:31 p.m. in West Conference Room of the L. Brooks Patterson
Building.
I. Call to Order/ Roll Call
Members Present: Joe Rozell, Jeff Phelps, Robert Wittenberg, Brian Partogian, Dion
Stevens, Kyle Jen, Gwen Markham
Members Absent: James Van Leuven, Dave Woodward
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 Gates, GRS
II. Approval of the Agenda
A. Moved by Phelps, seconded by Stevens to approve the agenda, as submitted.
Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the August 18, 2022 Minutes
B. Minutes of the August 26, 2022 Investment Subcommittee
C. Pension Payroll – 09/30/2022
D. Investment Manager Invoices – none
E. Service Provider Invoices
Moved by Wittenberg, seconded by Markham to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
A. Retirements
a. Moved by Partogian, seconded by Jen to approve the following Defined
Benefit and Defined Contribution applications. Motion carried.
Defined Benefit retirement applications
Name Department Effective
John Cooperrider Circuit Court 10/15/2022
Kevin Roivas Sheriff's Office 10/15/2022
Defined Contribution retirement applications
Name Department Effective
Jason Louwaert Sheriff's Office 10/6/2022
Gary Mundy II Water Resources 9/17/2022
Kimberly Noble Clerk/Register of Deeds 9/17/2022
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
September 15, 2022
Page 2
Dana Tuttle Sheriff's Office 9/24/2022
Beth Wiegand Deferred - Prosecutor's Office 9/25/2022
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) Defined Benefit 2nd
Quarter Report Period Ending June 30, 2022
• Oakland County Employees’ Retirement System (ERS) Defined Benefit Plan
Monthly Flash Report Period Ending July 31, 2022
• Oakland County Employees’ Retirement System (ERS) Asset / Manager
Summary Period Ending September 15, 2022
• A recap of the Investment Subcommittee meeting regarding the Asset
Liability Study was given.
B. Secretary Webster provided a verbal update on administrative matters.
C. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters. No action was taken.
VII. Unfinished Business
A. Chairperson Rozell provided the history on the Self-Directed Brokerage
parameters and the requirements for a minimum amount to be held in
participants’ 401(a) account.
Moved by Partogian, seconded by Stevens to direct legal counsel to amend the
contract with Empower, decreasing the 401(a) required minimum amount from
$50,000 to $1,000 for those participating in Self-Directed Brokerage. Motion
carried.
VIII. New Business
A. Secretary Webster provided a summary of the Investment Subcommittee
meeting and the interviews that took place for the Internal Controls Audit.
Moved by Wittenberg, seconded by Partogian to retain UHY for internal controls
audit, pending contract negotiations for Defined Benefit and 401(a). Motion
carried.
B. Chairman Rozell appointed trustees Phelps and Wittenberg as the delegates and
trustees Stevens and Partogian as the alternate delegates for the MAPERS Fall
2022 Conference.
C. The Notice of Employee Representative Election schedule was reviewed.
Chairperson Rozell noted that a committee will be appointed at a future meeting.
Moved by Phelps, seconded by Stevens to approve the Employee
Representative Election calendar for term ending December 31, 2026. Motion
carried.
D. Moved by Partogian, seconded by Markham to approve the 2023 Board Meeting
Calendar as presented. Motion carried.
E. Moved by Wittenberg, seconded by Phelps to approve the GRS Proposal for
Minute Master Services for 2023. Motion passed.
Oakland County Employees’ Retirement and Deferred Compensation Board Minutes
September 15, 2022
Page 3
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board – Thursday, October 20,
2022.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:48 p.m. Motion
carried.
Respectfully submitted,
__________________________________ __________________________________
Joseph Rozell, Chairperson Carly Webster, Secretary
