HomeMy WebLinkAbout070125_140003_2024-10-17 Ret Def Comp Minutes signedOAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held October
17, 2024, at 1:30 p.m. in the East Conference Room of the Executive Office Building.
I. CaII to Order/ Roll CaII
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler,
Gwen Markham, Brian Partogian, James Van Leuven, Dion
Stevens
Members Absent: David Woodward
with notice
Others Present:
Lisa Villella, 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
Chris Pacholski, Retiree
II. Approval of the Agenda
A. Moved by Wittenberg, seconded by Van Leuven to approve the agenda as
submitted. Motion carried.
III. Public Comment
A. Chris Pacholski discussed with the board allowing part-time noneligible
employees to contribute additional funds to their 457(b).
IV. Consent Agenda
A. Approval of the September 26, 2024, Regular Board minutes
B. Pension Payroll - 10/31/2024
C. Investment Manager Invoices
D. Service Provider Invoices
Moved by Phelps, seconded by Partogian 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
Benefit and Defined Contribution applications. Motion carried.
1. Defined Benefit retirement applications
Name
Daniel Bowles
Russell Bratton
Constance Guest
Department
FM&O
Deferred - WRC
Deferred - Community
Mental Health
Effective
10/19/2024
12/28/2024
11/03/2024
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
October 17, 2024
Page 2
2. Defined Contribution retirement applications
Lawrence Adams I IT 1 10/29/2024
Charley Carr Jr. I Sheriff's Office I 11/14/2024
Dianne Ferber 1 Health and Human Services 11/16/2024
David Hieber 1 Deferred — Equalization I 11/29/2024
Martin Smith Sheriff's Office 1 11/01/2024
VI. Reports
A. Chris Kuhn 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 September 30, 2024
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending October 11, 2024
Moved by Stevens, seconded by Wittenberg to receive and file the Asset /
Manager Summery and accept Mariner's recommendation to transfer $4 million
from SSgA S&P 500 to Cash, and transfer $6 million of Loomis, Sayles Small
Growth to Cash. Motion carried.
B. Paul Zelenak presented the Treasurer's Report.
Moved by Van Leuven, seconded by Phelps to receive and file the Treasurer's
Report. Motion carried.
C. Assistant Secretary Pena presented the DB/DC 2024 3rd Quarterly report.
Moved by Wittenberg, seconded by Van Leuven to receive and file the DB/DC
2024 3rd Quarter reports. Motion carried.
D. Assistant Secretary Pena drew 8 names for the Retirement Education
Awareness Program 2024 3Q 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. Brittany Kalso — Children's Village
2. Curtis Childs — Sheriffs Office
3. Raul D'Souza - Equalization
4. Ilyssa Ratliff — Circuit Court
5. Louis Starks — Economic Development
6. Jennifer Miles — Sheriffs Office
7. Paul Binelli — Children's Village
8. Carl Young - Children's Village
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) presented a
legal report with updates.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
October 17, 2024
Page 3
Moved by Stevens, seconded by Phelps to go into closed session to discuss
securities litigation related matters subject to the attorney -client privilege.
Roll Call:
Ayes: Rozell, Phelps, Wittenberg, Lefler, Markham, Partogian, Van Leuven,
Stevens
Nayes: None
Absent: Woodward
Motion carried.
Closed session commenced at 2:01 p.m.
Closed session concluded at 2:27 p.m.
Moved by Stevens, seconded by Phelps to authorize legal counsel to investigate
possible claims against Extreme Networks, Inc and DexCom, Inc. Motion carried.
VII. Unfinished Business
None
VIII. New Business
A. The GRS Minute Master services proposal was presented.
Moved by Van Leuven, seconded by Phelps to approve the usage of $2,450 for
GRS Minute Master Services. Motion carried.
B. Assistant Pena discussed the request for part-time employees to contribute
additional funds to their 457(b).
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, November
21, 2024, at 1:30pm at the Executive Office Building, East Conference Center.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:31 p.m. Motion
carried.
Respectfully submitted,
k 'kb biro,
7oseph RozielLthairpersok Kelly 'Pena, Assistant Secretary