HomeMy WebLinkAboutMinutes - 2022.11.17 - 38303OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees' Beneficiary Association (VEBA) Board meeting was
held November 17, 2022 at 2:42 p.m. in the East Conference Room of the Executive Office
Building.
I. CaII to Order/ Roll CaII
Members Present:
Joe Rozell, Brian Partogian, James Van Leuven, Jeff Phelps, Kyle
Jen, Gwen Markham
Members Absent: Dion Stevens, Dave Woodward, Robert Wittenberg
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Natalie Neph, Treasurer's Office
Louise Gates, GRS
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Phelps to approve the agenda. Motion
carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the October 20, 2022 VEBA Board minutes
B. Medicare Reimbursement payroll — 11/30/22
C. Investment Manager Invoices
D. Service Provider Invoices/projected monthly fees
Moved by Van Leuven, seconded by Jen to approve the consent agenda. Motion
carried.
V. Regular Agenda
None
VI. Reports
A. Moved by Markham, seconded by Partogian to receive and file the and the BPAS
3rd Quarter 2022 Trust Asset Report. Motion carried.
B. Secretary Webster did not have an update on retirement administration matters.
No action was taken.
C. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided a
verbal update on legal matters.
Moved by Markham, seconded by Phelps to authorize legal counsel to pursue
securities action against Opendoor Technologies, Inc. Motion carried.
VII. Unfinished Business
Oakland County VEBA Board Minutes
November 17, 2022
Page 2
A. Moved by Van Leuven, seconded by Phelps to receive and file the October 27,
2022 letter of recommendation from AndCo, regarding the Investment
Subcommittee Secondary Search.. Motion carried.
Moved by Van Leuven, seconded by Phelps to enter into a contract with Capital
Dynamics, as referenced in AndCo's letter of recommendation, pending legal
review. Motion carried.
Moved by Van Leuven, seconded by Phelps to enter into a contract with
Sturbridge Capital, as referenced in AndCo's letter of recommendation, pending
legal review. Motion carried.
VIII. New Business
A. Moved by Partogian, seconded by Markham to approve the updated Authorized
Signers Resolution to add Paul Zelenak of the Treasurer's Office. Motion carried.
IX. Trustee Comment
A. Chairperson Rozell noted that he will be absent at the next meeting of this Board
— Thursday, December 15, 2022
X. Without objection, Chairperson Rozell adjourned the meeting at 2:45 p.m.
Respectfully submitted,
Joph R9feithairperson Carly Webster, Secretary