HomeMy WebLinkAboutMinutes - 2024.08.29 - 41590O4K40FlCOUNTY EMPLOYEES' RETIREMENT AND DEFERRED COMPENSATION BOARD INVESTMENT SUB -COMMITTEE MINUTES
Ameeting of the Oakland County Employees' Retirement and Deferred Compensation Board
Investment Sub -Committee was held on August 29, 2024, at 1:34 p.m. in the Waterford
Conference Room of the Executive Office Building.
|. Call tmOrder/ Roll Call
Members Present:
Members Absent
With Notice:
Others Present:
Joseph Roze[Jeffrey Phelps, James VunLeuven.Robert Wittenberg
Carly Webster, Human Resources
Kelly Pena, Human Resources
Michael Van(}verbeke.VanOverbeke.Michaud &Tinnnnony.P.0
Chris Kuhn, Mariner
Dion Stevens, Trustee
Brian J. Lefer, Trustee (remote)
|K. Approval ofthe Agenda
A. Moved bxPhelps, seconded Van Leuven tuapprove the agenda aesubmitted.
Motion carried.
Ill. Public Comment
None
IV. Regular Agenda
V. Reports
A. Chris Kuhn ofMariner presented the Post Manager Search Report. Discussion was
Moved byVan Leuven, seconded byPhelps to receive and file the Post Manager
Search Report. Motion carried.
B. Chris Kuhn ofMariner presented the Senior Direct Lending Search. Discussion was
Moved byPhelps, seconded bvVan Leuven to receive and file the Senior Direct
Lending Search. Motion carried.
Moved bvVan Leuven, seconded bxWittenberg to recommend Uzthe full board to
approve the investment of$1Omillion ofOCER8and Q2Omillion ofVEBAfunds kz
EnTruetBlue Ocean Onshore Fund 11 LP' pending legal review. Motion carried.
Investment Sub -Committee Minutes
Oakland County Employees' Retirement and Deferred Compensation Board
August eo.2uu4
Page
C. Chris Kuhn of Mariner presented the updated OCERS and VEBA Investment Policy
Statement. Discussion was held.
Moved byVan Leuven, seconded by Phelps to approve the OCERGand VEBA
Investment Policy Statement. Motion carried.
O. Michael VanOverbeke ofVanOverbeke.Michaud &Timmony.P.C.(VMT)reviewed
the Actuarial Request for proposal from: AON. CavMau, Footer8 Foster, {]RG.
Nyhart. Boonnerahine, Gallagher and Lauterbaoh. Discussion was held.
Moved byVan Leuven, seconded by Wittenberg to recommend to the full board oo
part ufits ongoing due diligence issued anRFPfor Actuarial services for the
Retirement System and the Retiree Healthcare Plan. The Investment Subcommittee
noting that the Investment Subcommittee and staff have indicated that there have
been noconcerns orissues with the existing actuary, GRGConsulting, the
Investment Subcommittee also noting that GRS's fees and services continue to be
very competitive, therefore the Investment Subcommittee recommends the continued
retention of GRS, subject to the negotiation and approval of a new contract, Motion
carried.
V1. Unfinished Business
None
VII' New Business
None
Vi0. Trustee Comment
A. Chairperson Rozell adjourned the meeting without objection at 2:50 p.m.
,Jooer� Roz�U. Chairperson
(. / .
Respectfully submitted,
Carly`VVebst�r) Secretary