HomeMy WebLinkAboutMinutes - 2025.12.18 - 42655OAKLAND COUNTY VEBA BOARD MINUTES
The Oakland County Voluntary Employees' Beneficiary Association (VEBA) Board meeting was
held December 18, 2025, 2:14 p.m. in Committee Room A of the Board of Commissioners
Building.
I. Call to Order/ Roll CaII
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
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 November 20, 2025, VEBA Board minutes
B. Medicare Reimbursement payroll — 12/31/2025
C. Investment Manager Invoices
D. Service Provider Invoices/Projected Monthly Fees
E. Use of forfeitures for RHS participant costs
Moved by Taylor, seconded by Van Leuven to approve the consent agenda, as
submitted. Motion carried.
V. Regular Agenda
None
VI. Reports
A. Mariner Consulting provided the following reports:
• Oakland County Employees' Retirement System (ERS) VEBA Private Equity
Report June 30, 2025
• Oakland County Employees' Retirement System (ERS) VEBA Plan 3rd
Quarter 2025 Report Period Ending September 30, 2025
• Oakland County Employees' Retirement System (ERS) VEBA Monthly Flash
Report Period Ending November 30, 2025
• Oakland County Employees' Retirement System (ERS) VEBA Asset /
Manager Summary Period Ending December 10, 2025
• Oakland County Employees' Retirement System (ERS) Superseding Trust
Private Equity Report June 30, 2025
• Oakland County Employees' Retirement System (ERS) Superseding Trust
Plan 3rd Quarter Report Period Ending September 30, 2025
• Oakland County Employees' Retirement System (ERS) Superseding Trust
Monthly Flash Report Period Ending November 30, 2025
Oakland County VEBA Board Minutes
December 18, 2025
Page 2
• Oakland County Employees' Retirement System (ERS) Superseding Trust
Asset / Manager Summary Period Ending December 10, 2025
Moved by Crampton, seconded by Phelps to receive and file the VEBA and
Superseding Trust Private Equity Reports, 3rd Quarter Reports Period
Ending September 30, 2025; VEBA and Superseding Trust Monthly Flash
Reports Period Ending November 30, 2025, and VEBA and Superseding
Trust Asset / Manager Summaries Period Ending December 10, 2025
B. Moved by Crampton, seconded by Taylor to receive and file the Treasurer's
Report. Motion carried.
C. Secretary Webster discussed the County's request to have GRS complete GASB
No. 75 in addition to the work included in the VEBA contract. GRS will invoice
Oakland County directly for the additional costs.
Moved by Van Leuven, seconded by Lefler to approve GRS to complete the
GASB No. 75 as outlined in the invoice. Legal Counsel will review the GRS
contract and amend the contract to include the GASB No. 75 calculation going
forward. Motion carried.
D. Aaron Castle of VMT Law presented his legal report containing information
regarding Legislative Updates.
Moved by Woodward, seconded by Stevens to approve the $25 million mediator
settlement with Driven Brands as discussed in closed session. Motion carried.
Moved by Phelps, seconded by Stevens to have legal counsel pursue litigation
and amend the complaint against FMC Corportaion as discussed in closed
session. Motion carried.
VII. Unfinished Business
A. Aaron Castle of VMT Law presented a final draft of the Investment Consultant
Contract with Graystone Consulting and a termination letter for Mariner.
Moved by Van Leuven, seconded by Taylor to approve the contract with
Graystone Consulting as presented. Motion carried.
Moved by Lefler, seconded by Crampton to terminate the Investment Consultant
Contract with Mariner. Motion carried.
VIII. New Business
None
IX. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, January 22,
2026, at 1:30pm in the West Oakland Conference room at the Executive Office
Building.
B. Without objection, Chairperson Rozell adjourned the meeting at 2:20 p.m.
Respectfully submitted,
°see% RozeJl'Ch person 46
Carly Webster,Secretary