HomeMy WebLinkAboutMinutes - 2023.11.16 - 40997OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees' Beneficiary Association (VEBA) Board meeting was
held November 16, 2023, at 3:12 p.m. in East Conference Room of the Executive Office
Building.
I. CaII to Order/ Roll Call
Members Present: Joseph Rozell, Jeff Phelps, James Van Leuven, Dion Stevens,
Gwen Markham, Sheryl Johnson, Robert Wittenberg, Dave
Woodward
Members Absent: Brian Partogian
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Rob Luciano, Empower
Thomas May, Empower
John Krakowiak, Graystone
Amy Cole, Graystone
Paul Zelenak, Treasurer's Office
II. Approval of the Agenda
A. Moved by Van Leuven, seconded Johnson by to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the October 19, 2023, VEBA Board minutes
B. Medicare Reimbursement payroll — 11/30/2023
C. Investment Manager Invoices
D. Service Provider Invoices
E. Fiduciary Insurance Invoices and Policies
Moved by Woodward, seconded by Stevens to approve the consent agenda as
submitted. Motion carried.
V. Regular Agenda
None
VI. Reports
A. Moved by Van Leuven, seconded by Wittenberg to receive and file the Hand
Benefits & Trust/BPAS 3rd Quarter 2023 RHS Plan — Trust Asset Report. Motion
carried.
B. Secretary Webster did not have any updates to share for the Administrator's
Report.
C. There was no General Counsel Legal Update.
VII. Unfinished Business
None
Oakland County VEBA Board Minutes
November 16, 2023
Page 2
VIII. New Business
A. Moved by Stevens, seconded by Van Leuven to receive and file the Election
Committee Statement, certifying that Jeff Phelps will serve as the Employee
Representative Member for term ending December 31, 2027. Motion carried.
B. Chairman Rozell discussed the request made by Corporation Counsel for the
board to authorize hiring outside counsel to review the Retiree Health Savings
(RHS) plan document and draft a policy to address RHS vesting for rehired
employees.
Moved by Johnson, seconded by Woodward to authorize Corporation Counsel to
engage Butzel Long to review RHS plan document and draft a policy for RHS
vesting for rehired employees. Discussion followed.
Moved by Johnson, seconded by Woodward to withdraw the motion and table
the discussion until the December meeting. Motion carried.
C. Moved by Van Leuven, seconded by Wittenberg to accept the Investment
Subcommittee's recommendation to enter into agreement for $20 million of the
VEBA fund with Marathon Asset Management, L.P. for Distressed Debt, pending
legal review. Motion carried.
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board will be Thursday,
December 14, 2023, in the Pernick Aaron Room - Board of Commissioners.
X. Without objection, Chairperson Rozell adjourned the meeting at 3:20 p.m.
Joseph Rozell; Chairperson
Respectfully submitted,
Carly WebsteF� Secretary