HomeMy WebLinkAboutMinutes - 2022.12.15 - 38313
OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held December 15, 2022 at 2:31 p.m. in the West Conference Room of the Executive Office
Building.
I. Call to Order/ Roll Call
Members Present: Jeff Phelps, Brian Partogian, Dion Stevens, Kyle Jen, Gwen
Markham, James Van Leuven, Dave Woodward
Members Absent: Joe Rozell, Robert Wittenberg
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
Moved by Partogian, seconded by Van Leuven to approve the agenda. Motion
carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the November 17, 2022 VEBA Board minutes
B. Medicare Reimbursement payroll – 12/29/22
C. Investment Manger Invoices - none
D. Service Provider Invoices/projected monthly fees - none
Moved by Van Leuven, seconded by Jen to approve the November 17, 2022 VEBA
Board minutes, with the amendment to add the motion that passed regarding
Opendoor Technologies, Inc., under item VI. C. Motion carried.
Moved by Woodward, seconded by Van Leuven to approve the consent agenda, as
amended. Motion carried.
V. Regular Agenda
A. None
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 3rd Quarter
Report Period Ending September 30, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Private Equity
Report Period Ending June 30, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Monthly Flash
Report Period Ending October 31, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Asset /
Manager Summary Period Ending December 15, 2022
Oakland County VEBA Board Minutes
December 15, 2022
Page 2
Moved by Jen, seconded by Stevens to receive and file the Asset / Manager
Summary and accept AndCo’s recommendation to rebalance which includes
moving $10 million from ABS and $10 million from PIMCO to the cash liquidity
fund to purchase mutual funds. Motion carried.
B. Secretary Webster had no update for the Administrator’s Report.
C. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) provided an
update on legal matters.
Moved by Van Leuven, seconded by Stevens to Partogian to authorize legal
counsel to pursue a case of action against Generac Holdings, Inc. Motion
carried.
Moved by Markham, seconded by Woodward to authorize legal counsel to
pursue a case of action against Sotera. Motion carried.
VII. Unfinished Business
None
VIII. New Business
None
IX. Trustee Comment
A. Vice-Chairperson Phelps noted the next meeting of this Board – Thursday,
January 19, 2023
X. Without objection, Vice-Chairperson Phelps adjourned the meeting at 2:40 p.m.
Respectfully submitted,
__________________________________ ____________________________________
Jeffrey Phelps, Vice-Chairperson Carly Webster, Secretary