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OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held March 16, 2023 at 2:33 p.m. in East Conference Room of the Executive Office Building.
I. Call to Order/ Roll Call
Members Present: Joe Rozell, Jeff Phelps, Robert Wittenberg, Kyle Jen, Gwen
Markham, Brian Partogian, Dion Stevens
Members Absent: Dave Woodward, James Van Leuven
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Heather Van Poucker, Human Resources
Paul Zelenak, Treasurer’s Office
Chris Kuhn, AndCo
Peter Brown, AndCo
II. Approval of the Agenda
A. Moved by Partogian, seconded by Wittenberg to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the February 16, 2023 VEBA Board minutes
B. Medicare Reimbursement payroll – 03/31/23
C. Investment Manager Invoices
D. Service Provider Invoices/projected monthly fees
Moved by Phelps, seconded by Markham to approve the consent agenda as
submitted. Motion carried.
V. Regular Agenda
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 Plan 4th
Quarter Report Period Ending December 31, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Plan Monthly
Flash Report Period Ending February 28, 2023
• Oakland County Employees’ Retirement System (ERS) Asset / Manager
Summary Period Ending March 16, 2023
Moved by Phelps, seconded by Markham to receive and file the Asset / Manager
Summary and accept AndCo’s recommendation to rebalance which is to transfer
Oakland County VEBA Board Minutes
March 16, 2023
Page 2
$10 million from Reinhart Small/Mid Core and $10 million from PIMCO
Diversified Income to the cash liquidity fund. Motion carried.
A. Secretary Webster did not have any updates to share for the Administrator’s
Report.
B. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) did not have
any updates on legal matters. No action was taken.
VII. Unfinished Business
None
VIII. New Business
A. The recommendations from the Investment Subcommittee regarding the updated
Investment Policy Statement was tabled until the asset allocation study is
completed. No action was taken.
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board may be moved from –
Thursday, April 20, 2023, to Thursday, April 27, 2023. Confirmation of the
change will be made, and a notice will be posted.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:41 p.m.
Respectfully submitted,
__________________________________ ____________________________________
Joseph Rozell, Chairperson Carly Webster, Secretary