HomeMy WebLinkAboutMinutes - 2025.09.25 - 42417OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held
September 25, 2025, at 1:31 p.m. in Committee Room A of the Board of Commissioners
Building.
I. CaII to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler,
David Woodward, Linnie Taylor, Casey Crampton, James Van
Leuven, Dion Stevens
Members Absent:
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VMT Law
Chris Kuhn, Mariner
Peter Brown, Mariner
Chris Smith, GRS
Heidi Barry, GRS
II. Approval of the Agenda
A. Moved by Taylor, seconded by Van Leuven to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the August 28, 2025, Regular Board minutes
B. Pension Payroll — 09/30/2025
C. Investment Manager Invoices
D. Service Provider Invoices
E. Retirement Board Communications — CS McKee
Moved by Wittenberg, seconded by Van Leuven to approve the consent agenda,
as submitted. Motion carried.
V. Regular Agenda
A. Moved by Phelps, seconded by Stevens to approve the following Defined Benefit
and Defined Contribution applications. Motion carried.
1. Defined Benefit retirement applications
I Name I Department
Joanne Papiez I Circuit Court
I Effective
I 10/15/2025
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
September 25, 2025
Page 2
2. Defined Contribution retirement applications
Name
Patricia Lahar
Thomas Mance
Timothy Sutherland
Mary Triplett
Pamela Weipert
Department
Children's Village
Sheriff's Office
Risk Management
Sheriff's Office
County Executive
Effective
8/23/2025
9/20/2025
9/20/2025
10/25/2025
10/01/2025
VI. 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
2nd Quarter Report Period Ending June 30, 2025
• Oakland County Employees' Retirement System (ERS) Defined Benefit Plan
Monthly Flash Report Period Ending August 31, 2025
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending September 16, 2025
Moved by Phelps, seconded by Wittenberg to accept Mariner's recommendation
to transfer $5 million of T. Rowe Price Enhanced 500 to Cash, $3 million of
Loomis, Sayles Small Growth to Cash, $3 million of Leeward Small Value to
Cash, and $5 million of AllSpring Emerging Mkts to Cash. Motion carried.
Moved by Stevens, seconded by Taylor to receive and file the Asset / Manager
Summary. Motion carried.
B. Moved by Van Leuven, seconded by Stevens to receive and file the Treasurer's
Report. Motion carried.
C. Secretary Webster provided a verbal update on PBI name change to The Berwyn
Group; there will be no change to the current contract.
Secretary Webster and Assistant Secretary Pena discussed a retiree's EDRO
question. No action from the board is needed currently.
D. Aaron Castle of VMT Law did not have a legal report.
VII. Unfinished Business
A. Chris Smith of GRS presented the GRS Perspectives, The Rise of Layered
Amortization, article created August 2024. Discussion was held.
Moved by Van Leuven, seconded by Taylor to adopt a 10-year amortization
policy while a deficiency exists. Motion carried.
VIII. New Business
A. The recommendation of the continued Appointment of Citizen Member Dion
Stevens to the Board of Commissioners was reviewed.
Moved by Wittenberg, seconded by Taylor to recommend to the Board of
Commissioners the appointment of Citizen Member Dion Stevens for term ending
December 31, 2029. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
September 25, 2025
Page 3
IV. Trustee Comment
A. Chairperson Rozell, Vice -Chairperson Phelps, and Trustee Van Leuven
discussed the Fall 2025 MAPERS Conference.
B. Chairperson Rozell noted the next meeting of this Board — Thursday, October 23,
2025, at 1:30pm in Committee Room A at the Board of Commissioners Building.
C. Without objection, Chairperson Rozell adjourned the meeting at 2:45 p.m. Motion
carried.
Joseph Rozell, Chairperson
Respectfully submitted,
CarlyVVebstee/Secretary