HomeMy WebLinkAboutResolutions - 2024.03.14 - 41053
AGENDA ITEM: Amendment to the Oakland County Employees Retirement System
DEPARTMENT: Human Resources
MEETING: Board of Commissioners
DATE: Thursday, March 14, 2024 9:30 AM - Click to View Agenda
ITEM SUMMARY SHEET
COMMITTEE REPORT TO BOARD
Resolution #2024-3908 _ 24-14
Motion to adopt the attached suggested resolution.
ITEM CATEGORY SPONSORED BY
Resolution Brendan Johnson
INTRODUCTION AND BACKGROUND
Requests the adoption of an amendment to the plan document to allow for in-service withdrawals for
those employees who were terminated but then retroactively reinstated.
POLICY ANALYSIS
The current language in the 401a Plan, Section 5.10 states as follows:
"Section 5.10. Voluntary Withdrawals
A Participant who (a) has met the age and service requirements for Normal Retirement as provided
in Section 5.1, and (b) ceases to be a Member in accordance with Section 2.4(a) may take an in-
service withdrawal of all or a portion of his or her Vested Account. Any such withdrawal shall be
made in accordance with procedures established by the Retirement Board."
The proposed revision adds a paragraph to allow in-service withdrawals for situations in which a
participant who has not yet met the age and service requirements for normal retirement was
terminated and then reinstated per the collective bargaining grievance process. This amendment
would supersede and replace the current language in Section 5.10. The Oakland County
Employees' Retirement and Deferred Compensation Board approved this amendment on January
18, 2024.
BUDGET AMENDMENT REQUIRED: No
Committee members can contact Michael Andrews, Policy and Fiscal Analysis Supervisor at
248.425.5572 or andrewsmb@oakgov.com or the department contact persons listed for additional
information.
CONTACT
Carly Webster, Supervisor Human Resources
Aaron Castle
ITEM REVIEW TRACKING
Aaron Snover, Board of Commissioners Created/Initiated - 3/14/2024
David Woodward, Board of Commissioners Approved - 3/14/2024
Hilarie Chambers, Executive's Office Approved - 3/14/2024
Lisa Brown, Clerk/Register of Deeds Final Approval - 3/15/2024
AGENDA DEADLINE: 03/14/2024 9:30 AM
ATTACHMENTS
None
COMMITTEE TRACKING
2024-03-05 Legislative Affairs & Government Operations - Recommend to Board
2024-03-14 Full Board - Adopt
Motioned by: Commissioner Philip Weipert
Seconded by: Commissioner Linnie Taylor
Yes: David Woodward, Penny Luebs, Karen Joliat, Kristen Nelson, Christine Long, Robert
Hoffman, Philip Weipert, Gwen Markham, Angela Powell, William Miller III, Yolanda Smith
Charles, Charles Cavell, Ajay Raman, Ann Erickson Gault, Linnie Taylor (15)
No: None (0)
Abstain: None (0)
Absent: Michael Spisz, Marcia Gershenson, Brendan Johnson, Michael Gingell (4)
Passed
March 14, 2024
RESOLUTION #2024-3908 _ 24-14
Sponsored By: Brendan Johnson
Human Resources - Amendment to the Oakland County Employees Retirement System
Chair and Members of the Board:
WHEREAS the Oakland County Employees’ Retirement System (“Retirement System”) was
established on January 1, 1946, under the authority of Section 12a of Act No. 156, Public Acts of
1851, as amended (MCL 46.12a); and
WHEREAS as of January 1, 1994, the Retirement System was amended to include a 401(a) defined
contribution retirement plan (the “401(a) Plan” or “DC Plan”) that provides benefits to eligible
employees of the County of Oakland (“County”); and
WHEREAS the DC Plan has subsequently been amended and restated, most recently pursuant to a
restated resolution adopted by the County as of April 2018; and
WHEREAS pursuant to Section 12.2 of the 401(a) Plan, the County has the authority to amend the
DC Plan from time to time; and
WHEREAS the County now desires to amend the 401(a) Plan to address the possibility of terminated
employees being reinstated pursuant to a collectively bargained grievance process.
NOW THEREFORE BE IT RESOLVED the 401(a) Plan is hereby amended effective as of January 1,
2024, as follows:
1. Section 5.10 – Voluntary Withdrawals is revised and restated in its entirety as follows:
a. A Participant who (a) has met the age and service requirements for Normal
Retirement as provided in Section 5.1, and (b) ceases to be a Member in accordance
with Section 2.4(a), may take an in-service withdrawal of all or a portion of his or her
Vested Account. Any such withdrawal shall be made in accordance with procedures
established by the Retirement Board.
b. In-service withdrawals shall also be permitted in situations where a Participant who (a)
has not met the age and service requirements for Normal Retirement as provided in
Section 5.1, and who (b) ceases to be a Member in accordance with Section 2.4(a), is
subsequently retroactively reinstated to employment under the provisions of a
collectively bargained grievance process.
BE IT FURTHER RESOLVED that, except as herein provided, all other provisions of the 401(a) Plan
shall remain unchanged and in full force and effect.
Chair, the following Commissioners are sponsoring the foregoing Resolution: Brendan Johnson.
Date: March 14, 2024
David Woodward, Commissioner
Date: March 14, 2024
Hilarie Chambers, Deputy County Executive II
Date: March 15, 2024
Lisa Brown, County Clerk / Register of Deeds
COMMITTEE TRACKING
2024-03-05 Legislative Affairs & Government Operations - Recommend to Board
2024-03-14 Full Board - Adopt
Motioned by Commissioner Philip Weipert seconded by Commissioner Linnie Taylor to adopt the
attached Resolution: Amendment to the Oakland County Employees Retirement System.
Yes: David Woodward, Penny Luebs, Karen Joliat, Kristen Nelson, Christine Long, Robert
Hoffman, Philip Weipert, Gwen Markham, Angela Powell, William Miller III, Yolanda Smith Charles,
Charles Cavell, Ajay Raman, Ann Erickson Gault, Linnie Taylor (15)
No: None (0)
Abstain: None (0)
Absent: Michael Spisz, Marcia Gershenson, Brendan Johnson, Michael Gingell (4)
Passed
ATTACHMENTS
None
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lisa Brown, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true
and accurate copy of a resolution adopted by the Oakland County Board of Commissioners on March
14, 2024, with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the Circuit Court at
Pontiac, Michigan on Thursday, March 14, 2024.
Lisa Brown, Oakland County Clerk / Register of Deeds