HomeMy WebLinkAbout070125_140005_2025-01-16 Ret Def Comp Minutes SignedOAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held January
16, 2025, at 1:32 p.m. in the West Conference Room of the Executive Office Building.
I. CaII to Order/ Roll CaII
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Dion Stevens,
Casey Crampton, Brian J. Lefler, Gwen Markham
Members Absent: James Van Leuven, David Woodward
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
Angelica Brown, VanOverbeke, Michaud & Timmony, P.C.
Paul Zelenak, Treasurer's Office
Chris Kuhn, Mariner
Peter Brown, Mariner
Louise Gates, GRS
Secretary Webster chaired the meeting.
II. Approval of the Agenda
A. Moved by Stevens, seconded by Rozell to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Election of Officers
A. Call for nominations from the floor for Chairperson. Moved by Phelps, seconded
by Stevens to nominate Joe Rozell for Chairperson. Motion carried.
Chairperson Rozell assumed the chair.
B. Call for nominations from the floor for Vice Chairperson. Moved by Markham,
seconded by Stevens to nominate Jeff Phelps for vice chairperson. Motion
carried.
C. Chairperson Rozell swore in trustees Casey Crampton and Brian J. Lefler.
V. Consent Agenda
A. Approval of the December 19, 2024, Minutes Regular Board Session Minutes
B. Pension Payroll — 01/31/2025
C. Investment Manager Invoices
D. Service Provider Invoices
Moved by Lefler, seconded by Phelps to approve the consent agenda, as
submitted. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
January 16, 2025
Page 2
VI. Regular Agenda
A. Moved by Phelps, seconded by Crampton to approve the following Defined
Contribution applications. Motion carried.
1. Defined Benefit retirement applications - None
2. Defined Contribution retirement applications
Name
Steven McPherson
Develon Burnett
Department
Sheriff's Office
Children's Village
Effective
1/7/2025
1/24/2025
VII. Reports
A. Chris Kuhn and Peter Brown 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 December 31, 2024
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending January 10, 2025
• Markets Memo
• Market Review
• Post Election Returns Chart
Moved by Phelps, seconded by Wittenberg to receive and file the Asset /
Manager Summary and accept Mariner's recommendation to transfer $4 million
of T. Rowe Price Enhanced 500 and $4 million of Leeward Small Value to Cash.
Motion carried.
B. Paul Zelenak presented the Treasurer's Report.
Moved by Stevens, seconded by Wittenberg to receive and file the Treasurer's
Report. Motion carried
C. Secretary Webster provided a verbal update on the DB/DC Quarterly report.
Moved by Stevens, seconded by Phelps to receive and file the DB/DC Quarterly
report. Motion carried.
Secretary Webster and Assistant Secretary Pena drew 8 names for the
Retirement Education Awareness Program 2024 4Q drawing prior to the
meeting. The 8 winners 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. Micheal Keys — Board of Commissioners
2. Stacey Williams — Children's Village
3. Bradley Baumer — FM&O
4. Nicole Hollis — Equalization
5. Kylie Forrest — Circuit Court
6. Matt Liss — Sheriffs Office
7. James Ridley — Sheriffs Office
8. Akia Agurs - Children's Village
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
January 16, 2025
Page 3
Secretary Webster presented the Record Retention Project Memo. Discussion
followed.
Moved by Phelps, seconded by Stevens to approve the hiring of a contracted
worker to complete the 2025 Record Retention Project. Motion carried.
D. Aaron Castle of VanOverbeke, Michaud & Timmony, P.C. (VMT) introduced
Angelica Bronw of VanOverbeke, Michaud & Timmony, P.C. (VMT) and reviewed
his legal report. In -Plan Roth Conversions and Service Provider Reviews were
discussed.
Moved by Lefler, seconded by Wittenberg to receive and file the legal report.
Motion carried.
VIII. Unfinished Business
None
IX. New Business
A. Louise Gates of GRS Consulting summarized the GASB Statement No. 67 Plan
Reporting & Accounting Schedules as of September 30, 2024.
Moved by Wittenberg, seconded by Phelps to receive and file the GASB
Statement No. 67 Plan Reporting & Accounting Schedules as of September 30,
2024. Motion carried.
X. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, February
13, 2025.
B. Chairperson Rozell noted the Thursday April 17th meeting of this Board will be
moved to Thursday, April 24th, 2025.
XI. Without objection, Chairperson Rozell adjourned the meeting at 3:32 p.m. Motion
carried.
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Respectfully submitted,
Carly Webster, Vcretary