HomeMy WebLinkAboutMinutes - 2024.06.20 - 41579OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held June 20,
2024, at 1:35 p.m. in the East Conference Room of the Executive Office Building.
I. Call to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler
David Woodward, Gwen Markham, Brian Partogian, James Van
Leuven, Dion Stevens
Members Absent:
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Chris Kuhn, Mariner
Peter Brown, Mariner
Louise Gates, GRS
Paul Zelenak, Treasurer's Office
II. Approval of the Agenda
A. Moved by Partogian, seconded by Van Leuven to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the May 16, 2024, Regular Board and Closed Session minutes
B. Approval of the May 16, 2024, Investment Subcommittee minutes
C. Pension Payroll — 06/28/2024
D. Investment Manager Invoices
E. Service Provider Invoices
Moved by Van Leuven, seconded by Wittenberg to approve the consent agenda,
as submitted. Motion carried.
V. Regular Agenda
A. Moved by Phelps, seconded by Van Leuven to approve the following Defined
Benefit and Defined Contribution applications. Motion carried.
1. Defined Benefit retirement applications
Name I Department
I Michael Chalawich I Airport and Aviation
I Susan Fellows I Public Health
I Kimberley Krumm I Health & Human Services
Effective
7/6/2024
7/27/2024
6/14/2024*
*Date Correction
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 20, 2024
Page 2
2. Defined Contribution retirement applications
Name Department
David Batdorf-Barnes Circuit Court
Jillian Matson Deferred — Circuit Court
Steven Mellado Sheriff's Office
William Perry Sheriff's Office
Suzanne Reynolds WRC
Kathleen Williams Children's Village
3. Defined Contribution Non -Duty Death application
Name I Department
William (Janis) Wandrie I Treasurer's Office
Effective
8/3/2024
5/16/2024
6/21/2024
5/29/2024
7/20/2024
5/8/2024
Effective
6/7/2024
VI. Reports
A. Chris Kuhn and Peter Brown of Mariner presented the following reports and
provided comments summarizing highlights contained in each:
• Oakland County Employees' Retirement System (ERS) Alternative Investing
Private Equity Report Ending December 31, 2023
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
1st Quarter Report Period Ending March 31, 2024
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
Monthly Flash Report Period Ending May 31, 2024
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending June 11, 2024
Moved by Stevens, seconded by Wittenberg to receive and file the Asset /
Manager Summery and accept Mariner's recommendation to transfer $6 million
of T. Rowe Price Enhanced 500 to Cash, and transfer $3 million of ABS EM
Equity to Cash. Motion carried.
Chris Kuhn and Peter Brown of Mariner presented the Mariner Contract Fee
Memo. Discussion was held.
Moved by Van Leuven, seconded by Stevens to approve the Mariner Contract
Fee Memo. Motion carried.
Chris Kuhn and Peter Brown of Mariner presented an updated draft of the
OCERS Investment Policy Statement for review. Discussion was held. No action
taken; the Investment Subcommittee will meet in August to review.
B. Paul Zelenak presented the Treasurer's Report.
Moved by Wittenberg, seconded by Phelps to receive and file the Treasurer's
Report. Motion carried.
C. Secretary Webster did not have any updates to share for the Administrator's
Report.
D. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) presented a
draft Record Retention and Disposal Policy for OCERS and VEBA. Discussion
was held. No action was taken and the Board tabled the item for the August
meeting.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 20, 2024
Page 3
Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) gave a verbal
update on the status of the Nuveen/TIAA Lifecycle QITs transition with
Graystone, upcoming draft RFI/RFP for actuarial services, and litigation cases.
VII. Unfinished Business
None
VIII. New Business
None
IX. Trustee Comment
A. Vice -Chairman Phelps gave a verbal update on the MAPERS Spring Conference
and topics discussed during the educational sessions.
B. Upcoming Conference and Events
C. Chairperson Rozell noted the next meeting of this Board — Thursday, July 18,
2024.
D. Chairperson Rozell noted the Thursday September 19th meeting of this Board
will be moved to Thursday, September 26th, 2024.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:28 p.m. Motion
carried.
Respectfully submitted,
Joseph Rozell, .Chairperson Carly Webster(,Secretary