HomeMy WebLinkAboutMinutes - 2024.07.18 - 41583OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held July 18,
2024, at 1:31 p.m. in the East Conference Room of the Executive Office Building.
I. CaII 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
Lisa Villella, 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 Markham to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the June 20, 2024, Regular Board minutes
B. Pension Payroll — 07/31/2024
C. Investment Manager Invoices
D. Service Provider Invoices
Moved by Van Leuven, seconded by Phelps to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
A. Moved by Partogian, seconded by Wittenberg to approve the following Defined
Contribution applications. Motion carried.
1. Defined Benefit retirement applications
None
2. Defined Contribution retirement applications
Name Department I Effective
Keith Batchelor ( Medical Examiner I 6/29/2024
Steven Carter I Sheriffs Office 8/17/2024
Karen Chapman I Prosecutor's Office ( 9/7/2024
John MacDonald Sheriffs Office 8/1/2024
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
July 18, 2024
Page 2
3. Defined Contribution Duty Death application
Name I Department I Effective
I Bradley (Jacqueline) Reckling I Sheriff's Office I 6/21/2024
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) Defined Benefit Plan
Monthly Flash Report Period Ending June 30, 2024
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending July 12, 2024
Moved by Van Leuven, seconded by Markham to receive and file the Asset /
Manager Summery and accept Mariner's recommendation to transfer $4 million
from Reinhart Small/Mid Core to Cash, and transfer $4 million of Loomis, Sayles
Small Growth to Cash. Motion carried.
Moved by Stevens, seconded by Wittenberg to move MS Prime Property RE
dividends to Cash. Motion carried.
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 presented the DB/DC 2024 2nd Quarterly report.
Moved by Stevens, seconded by Wittenberg to receive and file the DB/DC 2024
2nd Quarter reports. Motion carried.
Secretary Webster presented the 2024 Q2 401(a) forfeiture report.
Moved by Woodward, seconded by Wittenberg to receive and file the 2024 2nd
quarter 401(a) forfeiture report. Motion carried.
D. Secretary Webster drew 8 names for the Retirement Education Awareness
Program 2024 2Q drawing. Instead of 4 winners who received $100 Visa gift
card, there will now be 8 winners who will receive $50 worth of credit to use in
the Oakland County Bucket List system. There winners can choose from
specialized experiences to gift cards to Oakland County gear.
1. David Nelson - Fiscal Services
2. Christopher LaFave — Water Resources
3. Scott Adams - IT
4. Erik Heemsoth — Sheriff's Office
5. Christie Clement-Halladay — Public Health
6. Anna Reiher - FMO
7. Lona Bentley — Public Health
8. Sandra Carlson — Prosecutor's Office
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
July 18, 2024
Page 3
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) presented a
legal report with updates to the Record Retention Policy and Disposal Policy for
OCERS and VEBA. Discussion was held.
Moved by Wittenberg, seconded by Stevens to receive and file the Record
Retention Policy and Disposal Schedule, with listed destruction dates. Motion
carried.
Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) presented the
Request for Proposal for Actuarial Consulting Services, responses are due back
in August. Discussion was held.
Moved by Lefler, seconded by Phelps to approve the Actuarial Request for
Proposal, as amended. Motion carried.
VII. Unfinished Business
None
VIII. New Business
A. Secretary Webster presented the Empower — Prudential Contract extension.
Discussion was held.
Moved by Lefler, seconded by Partogian to extend the Empower — Prudential
Contract for 1 year. Motion carried.
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, August 15,
2024, at 9:00am at the Board of Commissioner's Office Committee Room A.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:36 p.m. Motion
carried.
Joseph' Rozell, Chairperson
Respectfully submitted,
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Carly Webst r, Secretary .' O®�