HomeMy WebLinkAboutMinutes - 2025.10.23 - 42650OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held October
23, 2025, at 1:31 p.m. in Committee Room A of the Board of Commissioners Building.
CaII to Order/ Roll Call
Members Present: Joseph Rozell, Jeffrey Phelps, Robert Wittenberg, Brian J. Lefler,
Linnie Taylor, Casey Crampton, James Van Leuven, Dion Stevens
Members Absent: David Woodward
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VMT Law
Peter Brown, Mariner
Paul Zelenak, Treasurer's Office
Chris Smith, GRS
II. Approval of the Agenda
A. Moved by Taylor, seconded by Wittenberg to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the September 25, 2025, Regular Board minutes
B. Pension Payroll — 10/31/2025
C. Investment Manager Invoices
D. Service Provider Invoices
E. Retirement Board Communications — Reinhart
Moved by Van Leuven, seconded by Phelps 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
Contribution applications. Motion carried.
1. Defined Benefit retirement applications - None
2. Defined Contribution retirement applications
Name Department 1 Effective
Brenda Beiter I Circuit Court I 1/21/2026
Laurie Ferrington ( Children's Village I 10/04/2025
Brenda Reyes-Mezza ( Fiscal Services 1 12/04/2025
Gary Whitlock I IT I 10/04/2025
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
October 23, 2025
Page 2
VI. Reports
A. 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 September 30, 2025
• Oakland County Employees' Retirement System (ERS) Asset / Manager
Summary Period Ending October 15, 2025
Peter Brown also reviewed the discussion held on October 10, 2025, Investment
Subcommittee meeting regarding the Asset/Liability Modeling Study.
Moved by Phelps, seconded by Crampton to receive and file the Asset / Manager
Summary. Motion carried.
Moved by Wittenberg, seconded by Crampton to accept Mariner's
recommendation to transfer $5 million from AllSpring Emerging Mkts to Cash.
Motion carried.
B. Paul Zelenak presented the trial balance report.
Moved by Taylor, seconded by Wittenberg to receive and file the trial balance
report. Motion carried.
C. Secretary Webster provided a verbal update on the DB/DC Quarterly report.
Moved by Taylor, seconded by Stevens 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 2025 3Q 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. — Philip Penzien - WRC
2. — Juli Berres-Wainio — Circuit Court
3. — Brad Wethy - Parks
4. — Jeffery Cardinal — Sheriff's Office
5. — A'nna Dunbar - Purchasing
6. — Kristyn Babe - WRC
7. — Michelle Mader - Health
8. — Justin Mychek-Londer - CRWRRF
Secretary Webster presented on the Fiduciary Liability Insurance.
Moved by Van Leuven, seconded by Crampton to receive and file the Fiduciary
Liability Insurance. Motion carried.
Secretary Webster presented the 401(a) Forfeiture Memo.
Moved by Van Leuven, seconded by Stevens to approve the use of forfeitures in
the amount of $765,936 to offset employer contributions for the next payroll
cycle. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
October 23, 2025
Page 3
D. Aaron Castle of VMT Law presented his legal report. Discussion was held. No
action was taken.
Motion by Wittenberg, seconded by Phelps to receive and file the legal report.
Motion carried.
VII. Unfinished Business
None
VIII. New Business
None
IV. Trustee Comment
A. Chairperson Rozell, Vice -Chairperson Phelps, Trustee Crampton, Trustee
Taylor, and Trustee Wittenberg discussed the 2025 NAGDCA Conference.
B. Chairperson Rozell reviewed the Investment Subcommittees decision to
interview three companies for the DB/VEBA Investment Consultant. Interviews
will be held on November 19, 2025, at 9am, 11 am and 1pm.
C. Chairperson Rozell noted the next meeting of this Board — Thursday, November
20, 2025, at 1:30pm in Committee Room A at the Board of Commissioners
Building.
D. Without objection, Chairperson Rozell adjourned the meeting at 2:19 p.m. Motion
carried.
Joseph Rozeti,: Chairperson
Respectfully submitted,
Carly Webster, Secretary