HomeMy WebLinkAboutMinutes - 2024.09.26 - 41593OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
September 26, 2024, at 9:00 a.m. in the Canvassing Room of the Oakland County Elections
Office.
I. CaII to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Brian J. Lefler, David Woodward,
Gwen Markham, Brian Partogian, James Van Leuven, Dion
Stevens
Members Absent: Robert Wittenberg
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Lisa Villella, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Brian Green, Mariner
Louise Gates, GRS
Lee Van Camp, Oakland County Employee
Christopher Cole, Oakland County Employee
II. Approval of the Agenda
A. Moved by Van Leuven, seconded by Phelps to approve the agenda as
submitted. Motion carried.
III. Public Comment
A. Lee Van Camp discussed with the board his interaction with Empower and his
concerns.
B. Christopher Cold discussed with the board the desire to move after tax funds
from the plan while actively employed.
IV. Consent Agenda
A. Approval of the August 15, 2024, Regular Board minutes
B. Approval of the August 29, 2024, Investment Subcommittee minutes
C. Pension Payroll — 09/30/2024
D. Investment Manager Invoices
E. Service Provider Invoices
Moved by Partogian, seconded by Markham to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
A. Moved by Partogian, seconded by Van Leuven to approve the following Defined
Benefit and Defined Contribution applications. Motion carried.
1. Defined Benefit
Name
Tracy Feneley
Julie Fisher
Timothy Hoskins
Susan Martinez
Jack Willis
Oakland County Employees' Retirement and D
retirement applications
Department
Children's Village
Human Resources
FM&O
Public Health
FM&O
2. Defined Contribution retirement applications
Jane Boudreau
Kelly Chard
Michelle Estell
Teresa Hofman-Lawrence
Catherine Holland
Anthony Riley
Rebecca Schnelz
Matthew Tilley
Deferred - Sheriff's Office
Circuit Court
Deferred - Public Health
Sheriffs Office
Deferred - Circuit Court
Sheriff's Office
Deferred - Probate Court
Building Safety
eferred Compensation Board Minutes
September 26, 2024
Page 2
Effective
10/19/2024
9/24/2024
10/19/2024
10/18/2024
11/2/2024
10/15/2024
10/5/2024
10/25/2024
9/21/2024
10/8/2024
9/6/2024
8/29/2024
9/21/2024
VI. Reports
A. Brian Green of Mariner presented the following reports and provided comments
summarizing highlights contained in each:
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
2nd Quarter Report Period Ending June 30, 2024
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
Monthly Flash Report Period Ending August 31, 2024
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending September 17, 2024
Moved by Lefler, seconded by Phelps to receive and file the Asset / Manager
Summery. Motion carried.
B. Moved by Lefler, seconded by Stevens to receive and file the Treasurer's Report.
Motion carried.
C. Secretary Webster discussed the logo that can be added for a one-time cost of
$7,500 to the pension and Medicare reimbursement pay advice from Northern
Trust.
Moved by Van Leuven, seconded by Phelps to approve the addition of the
Oakland County logo to the retiree pay advice through Northern Trust. Motion
carried.
Secretary Webster gave an update on the Empower Lifetime Calculator.
D. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) did not have an
update on legal matters. Aaron will bring educational materials on the after-tax
rollover and Roth conversions discussed in public comment to the next meeting.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
September 26, 2024
Page 3
E. Unfinished Business
None
F. New Business
A. The Investment Subcommittee recommendations from the August 2991 meeting
were discussed.
Moved by Lefler, seconded by Stevens to retain GRS for actuarial services.
Motion carried.
Moved by Van Leuven, seconded by Phelps to approve the investment of $10
million of OCERS funds into EnTrust Blue Ocean Onshore Fund II LP, pending
legal review. Motion carried.
Moved by Van Leuven, seconded by Stevens to approve the revised Investment
Policy Statement. Motion carried.
B. Moved by Lefler, seconded by Stevens to receive and file the 2025 Board
Meeting Calendar. Motion carried.
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, October 17,
2024, at 1:30pm at the Executive Office Building, East Conference Center.
B. Chairperson Rozell and Vice -Chairperson Phelps made comments about the
NAGDCA conference and educational sessions.
C. Trustee Van Leuven made comments about the MAPERS conference and
educational sessions.
X. Without objection, Chairperson Rozell adjourned the meeting at 9:51 a.m. Motion
carried.
,,Joseph Roz9il, Chairperson
Respectfully submitted,
Carly Wetter, Secretary