HomeMy WebLinkAboutMinutes - 2026.02.26 - 42907OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held February
26, 2026, at 1:33 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, David
Woodward, Casey Crampton, James Van Leuven, Dion Stevens
Members Absent: Brian J. Lefler, Linnie Taylor
with notice
Others Present:
Carly Webster, Human Resources
Kelly Pena, Human Resources
Aaron Castle, VMT Law
Stephanie Biddle, Empower
Thomas May, Empower
John Krakowiak, Graystone
Amy Cole, Graystone
Erik Burger, Graystone
Paul Zelenak, Treasurer's Office
II. Approval of the Agenda
A. Moved by Wittenberg, seconded by Phelps to approve the agenda as submitted.
Motion carried.
III. Public Comment
None
IV. Consent Agenda
a. Approval of the January 22, 2026, Regular Board Session minutes
b. Pension Payroll — 2/27/2026
c. Investment Manager Invoices
d. Service Provider Invoices
Moved by Crampton, seconded by Van Leuven to approve the consent agenda,
as submitted. Motion carried.
V. Regular Agenda
A. Moved by Van Leuven, seconded by Phelps to approve the following Defined
Contribution applications. Motion carried.
1. Defined Benefit retirement applications - None
2. Defined Contribution retirement applications
Name
Wanda Buyck
Michael Chiasson
Michael Fury
Todd Hunt
Linda Johnson
Mary Johnson
Department
Sheriff's Office
FM&O
Management and Budget
Sheriff's Office
Deferred - Public Health
Public Health
Effective
3/27/2026
2/28/2026
2/19/2026
3/05/2026
3/28/2026
3/04/2026
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
February 26, 2026
Page 2
1 I
( I
I I
Patricia Liegl
Lisa McKay-Chiasson
Deborah Percival
Carol Stephens
I Sheriff's Office
I Public Health
I Sheriff's Office
Friend of Court
3/03/2026
2/28/2026
4/18/2026
4/04/2026
VI. Reports
A. Stephanie Biddle of Empower presented the 4th Quarter 2025 Oakland County
Plan Performance Insights, provided comments on the Cashflow Report and
discussed the loan policies of the plan.
Thomas May of Empower reviewed the outreach efforts and statistics with the
trustees. Thomas will continue to reach out to departments with low 457(b)
participation rates.
Moved by Crampton, seconded by Phelps to receive and file the 4th Quarter
2025 Oakland County Plan Performance Insights. Motion carried.
B. Amy Cole and Erik Burger of Graystone Consulting presented the 4th Quarter
2025 401a/457b and PTNE Plan Investment Review and provided comments
summarizing highlights contained in the report. Graystone will review specialties
investments and bring their findings to the next Investment Subcommittee
meeting.
Moved by Woodward, seconded by Van Leuven to receive and file the 4th
Quarter 2025 401a/457b and PTNE Plan Investment Review. Motion carried.
John Krakowiak of Graystone reviewed the Loomis and Reinhart Investment
Manager Fee Changes.
Moved by Phelps, seconded by Crampton to approve the Loomis and Reinhart
Investment Manager Fee Changes. Motion carried.
Erik Burger of Graystone discussed the need to raise cash for the upcoming
Defined Benefit Pension payroll.
Moved by Woodward, seconded by Wittenberg to accept Graystone's
recommendation to transfer $5.5 million from SSgA S&P 500 Equal Weight to
Cash. Motion carried.
C. Paul Zelenak presented the Treasurer's Report.
Moved by Wittenberg, seconded by Van Leuven to receive and file the
Treasurer's Report. Motion carried
D. Secretary Webster had items for closed session.
Closed Session to discuss disability retirement 2026-B and 2026-C
Moved by Crampton, seconded by Wittenberg to go into closed session to
discuss disability retirement application 2026-B and 2026-C.
Roll Call:
Ayes: Rozell, Phelps, Wittenberg, Crampton, Woodward, Van Leuven, Stevens
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
February 26, 2026
Page 3
Nayes: None
Absent: Lefler, Taylor
Motion carried.
Closed session commenced at 2:46 p.m.
Closed session concluded at 2:55 p.m.
Moved by Woodward, seconded by Van Leuven to accept the 2026-B application
for disability retirement and send applicants medical records to the Medical
Director for evaluation, as discussed in closed session. Motion carried
Moved by Stevens, seconded by Crampton to accept the 2026-C application for
disability retirement and send applicant to the Medical Director for evaluation, as
discussed in closed session. Motion carried
E. Aaron Castle of VMT Law presented his legal report and reviewed updates on
litigation.
Moved by Phelps, seconded by Stevens to receive and file the legal report.
Motion carried.
VII. Unfinished Business
None
IV. New Business
None
VIII. Trustee Comment
A. Assistant Secretary Pena updated the Trustees on the upcoming conferences
and events. Discussion was held regarding additional educational conference
opportunities.
Moved by Wittenberg, seconded by Stevens to approve Trustees to attend the
EnTrust Conference in April 2026 as their yearly out of state conference. Motion
carried.
B. Chairperson Rozell noted the next meeting of this Board — Thursday, March 26,
2026, at the County Executive Building, West Oakland Conference Room.
IX. Without objection, Chairperson Rozell adjourned the meeting at 3:15 p.m. Motion
carried.
Respectfully submitted,
11-A
7o h Roze , Ch Ird rson \ Carly -Webster, Secretary