HomeMy WebLinkAboutMinutes - 2024.08.15 - 41587OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held August
15, 2024, at 9:03 a.m. in Committee Room A of the Board of Commissioners Building.
I. Call to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler,
David Woodward, Gwen Markham, James Van Leuven
Members Absent: Brian Partogian, Dion Stevens
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Stephanie Biddle, Empower
Thomas May, Empower
John Krakowiak, Graystone
Louise Gates, GRS
Paul Zelenak, Treasurer's Office
Curtis Childs, Sheriffs Office
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Markham to approve the agenda as
submitted. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the July 18, 2024, Regular Board minutes
B. Pension Payroll — 08/30/2024
C. Investment Manager Invoices
D. Service Provider Invoices
Moved by Phelps, seconded by Wittenberg to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
A. Moved by Van Leuven, seconded by Wittenberg to approve the following Defined
Contribution applications. Motion carried.
1. Defined Benefit retirement applications
I Name I Department I Effective
Patricia Fisher I Deferred — Prosecutor's Office I 8/28/2024
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
August 15, 2024
Page 2
2. Defined Contribution retirement applications
Name
Charles Corbett
Nola DiVico
Roger Fleishans
Denise Godley
Lorraine Graham
Katherie Krantz
Michael Seling
Department
IT CLEMIS
Animal Control
Water Resources
Sheriff's Office
Deferred — Human Services
Deferred — Human Services
Sheriff's Office
Effective
9/04/2024
8/17/2024
10/18/2024
9/10/2024
7/20/2024
8/20/2024
8/29/2024
VI. Reports
A. Stephanie Biddle of Empower presented the 2nd Quarter 2024 Oakland County
Plan Performance Insights, provided comments summarizing highlights
contained in the Cashflow Report. Empower's communications were discussed.
Thomas May of Empower reviewed the outreach efforts and statistics with the
trustees.
B. John Krakowiak of Graystone Consulting presented the 2nd Quarter 2024
401a/457b and PTNE Plan Investment Review and provided comments
summarizing highlights contained in the report.
C. Paul Zelenak presented the Treasurer's Report.
Moved by Van Leuven, seconded by Wittenberg to receive and file the
Treasurer's Report. Motion carried.
D. Secretary Webster discussed the communication strategy and the efforts to
provide retirement education that reflects and aligns with Oakland County
retirement plan(s) performance.
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) presented a
legal report with updates on CIT status, Service Retirement Application, Actuarial
RFP, and House Bill 5203. Discussion was held.
Moved by Markham, seconded by Phelps to receive and file the updated Defined
Benefit Retirement Application. Motion carried.
VII. Unfinished Business
None
VIII. New Business
A. Secretary Webster presented the Notice of Employee Representative Election.
Moved by Wittenberg, seconded by Woodward to receive and file the Employee
Representative calendar. Motion carried.
B. Chairman Rozell appointed trustee Van Leuven and Wittenberg as the delegates
for the MAPERS Fall 2024 Conference
Moved by Lefler, seconded by Markham to receive and file MAPERS Fall
delegates. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
August 15, 2024
Page 3
C. Secretary Webster presented the memo to the Board regarding Retiree
Payroll/Tax Filing Services — Northern Trust — ADP. Discussion was held.
Moved by Lefler, seconded by Woodward to approve the termination of the ADP
contract and authorize service agreement with Northern Trust for Retiree
Payroll/Tax Filing Services. Motion carried
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, September
26, 2024, at 9:00am at the Board of Commissioner's Office Committee Room A.
B. Investment Subcommittee meeting, August 29, 2024, at 1:30pm in the Waterford
Room of the Executive Office Building.
X. Without objection, Chairperson Rozell adjourned the meeting at 10:39 a.m. Motion
carried.
Josdph Rozell, Chairperson
Respectfully submitted,
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Carly Websteid, Secretary