HomeMy WebLinkAboutMinutes - 2023.06.15 - 40757
OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees’ Beneficiary Association (VEBA) Board meeting was
held June 15, 2023 at 2:51 p.m. in East Conference Room of the Executive Office Building.
I. Call to Order/ Roll Call
Members Present: Jeff Phelps, Robert Wittenberg, Kyle Jen, Dave Woodward, Gwen
Markham, Brian Partogian, James Van Leuven, Dion Stevens
Members Absent: Joe Rozell
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Paul Zelenak, Treasurer’s Office
Chris Kuhn, AndCo
Peter Brown, AndCo
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Partogian to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the May 18, 2023 VEBA Board minutes
B. Medicare Reimbursement payroll – 06/30/23
C. Investment Manager Invoices - None
D. Service Provider Invoices/projected monthly fees
Moved by Van Leuven, seconded by Stevens 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 Alternate
Investing Private Equity Report Ending December 31, 2022
• Oakland County Employees’ Retirement System (ERS) VEBA Plan 1st
Quarter Report Period Ending March 31, 2023
• Oakland County Employees’ Retirement System (ERS) VEBA Plan Monthly
Flash Report Period Ending May 31, 2023
• Oakland County Employees’ Retirement System (ERS) VEBA Asset /
Manager Summary Period Ending June 7, 2023
Moved by Van Leuven, seconded by Stevens to receive and file the Asset /
Manager Summery and accept AndCo’s recommendation to liquidate ABS
Oakland County VEBA Board Minutes
June 15, 2023
Page 2
Global and Fidelity Intl Eq Index and transfer $10 Million the funds to CS McKee
and the remainder to LS Fixed Income. Motion carried.
• ISS Proxy Voting Summary
A memo was presented by AndCo and discussion was had regarding ESG and
the various voting options for SSGA.
Moved by Wittenberg, seconded by Stevens to accept the memo as presented
by AndCo and select the ISS SRI Policy (Socially Responsible Investing) proxy
voting option. 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) reviewed the
MAPERS Case Update 2022 – 2023 Legal Issues and Decisions. No action was
taken.
VII. Unfinished Business
None
VIII. New Business
IX. Trustee Comment
A. Vice-Chairperson Phelps noted the next meeting of this Board will be Thursday,
July 20, 2023.
X. Without objection, Vice-Chairperson Phelps adjourned the meeting at 3:02 p.m.
Respectfully submitted,
__________________________________ ____________________________________
Jeffrey Phelps, Vice-Chairperson Carly Webster, Secretary