HomeMy WebLinkAboutMinutes - 2024.11.21 - 42206OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
November 21, 2024, at 1:39 p.m. in the East Conference Room of the Executive Office Building.
I. Call to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler,
David Woodward, Dion Stevens
Members Absent: Brian Partogian, James Van Leuven, Gwen Markham
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Paul Zelenak, Treasurer's Office
Stephanie Biddle, Empower
Thomas May, Empower
John Krakowiak, Graystone
Amy Cole, Graystone
Erik Burger, Graystone
Casey Crampton, Employee
I1. Approval of the Agenda
A. Moved by Phelps, seconded by Stevens to approve the agenda as submitted.
Motion carried.
I11. Public Comment
A. Casey Crampton introduced himself, he will be joining the board starting January
1, 2025, after winning the employee election unopposed.
IV. Consent Agenda
A. Approval of the October 17, 2024, Regular Board and Closed Session minutes
B. Pension Payroll — 11/27/2024
C. Investment Manager Invoices
D. Service Provider Invoices
Moved by Wittenberg, seconded by Phelps to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
A. Moved by Lefler, seconded by Stevens to approve the following Defined Benefit
and Defined Contribution applications. Motion carried.
1. Defined Benefit retirement applications
Name I Department
I Richard Giles I FM&O
I Effective
I 12/21/2024 I
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
November 21, 2024
Page 2
2. Defined Contribution retirement applications
Curtis Childs
Julito Gener
Wilbur Haley
Lisa LaBair
Howard Schultz Jr
Douglas Stewart
Sheriff's Office
WRC
Sheriff's Office
Deferred - Sheriff's Office
Sheriff's Office
Deferred - Sheriff's Office
12/3/2024
11/16/2024
1/22/2025
10/13/2024
11/09/2024
11/6/2024
VI. Reports
A. Stephanie Biddle of Empower presented the 3rd 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.
Auto enrollment into the 457(b) Deferred Compensation plan was discussed.
B. Erik Burger and John Krakowiak of Graystone Consulting presented the 3rd
Quarter 2024 401 a/457b and PTNE Plan Investment Review and provided
comments summarizing highlights contained in the report.
Policy on notice and on watch was discussed.
C. Paul Zelenak presented the Treasurer's Report.
Moved by Stevens, seconded by Lefler to receive and file the Treasurer's Report.
Motion carried.
D. Secretary Webster provided a verbal update on:
i. Status on the Northern Trust payroll integration
ii. A request to move the February 20, 2025, meeting to February 13, 2025,
was made by a trustee.
Moved by Stevens, seconded by Phelps to change the February 20,
2025, meeting to February 13, 2025. Motion carried.
E. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT)
i. Provided updates on investment, plan and benefits administration,
ongoing legal, and legislative matters.
VII. Unfinished Business
None
VIII. New Business
A. Chairperson Rozell appointed trustees Wittenberg, Phelps, and Woodward to the
Election Board to oversee the Employee Election, without objection.
B. Moved by Wittenberg, seconded by Phelps to receive and file the Election
Committee Statement, certifying that Casey Crampton will serve as the
Employee Representative Member for term ending December 31, 2028. Motion
carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
November 21, 2024
Page 3
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, December
19, 2024, at 1:30pm at the Executive Office Building, West Conference Center.
X. Without objection, Chairperson Rozell adjourned the meeting at 2:48 p.m. Motion
carried.
Joseei Rozel
,e3.4
diairperson
Respectfully submitted,
Carty-Webstet,,8ecretary