HomeMy WebLinkAboutMinutes - 2026.03.26 - 42908OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held March
26, 2026, at 1:32 p.m. in the West Oakland Conference Room in the County Executive Building.
CaII 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
John Krakowiak, Graystone
Amy Cole, Graystone
Erik Burger, Graystone
Paul Zelenak, Treasurer's Office
Chris Smith, GRS
II. Approval of the Agenda
A. Moved by Wittenberg, seconded by Taylor to approve the agenda as amended,
moved Regular Agenda item A. to New Business item D. and moved Report
Agenda item C. to New Business item E. Motion carried.
III. Public Comment
None
IV. Consent Agenda
A. Approval of the February 26, 2026, Regular Board and Closed Session minutes
B. Pension Payroll — 3/31/2026
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
VI. Reports
A. Amy Cole of Graystone discussed the new expectations on rate cuts and how
other nations are affected vs the US by recent events. Erik Burger of Graystone
reviewed the new reports and customizations available. John Krakowiak
mentioned the upcoming change allocations the Investment Subcommittee
reviewed earlier in the day.
Moved by Crampton, seconded by Taylor to receive and file Mariner's DB Plan
4th Quarter Investment Performance Review Report Period Ending December
31, 2025, and Graystone's DB Plan report dated March 26, 2026. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
March 26, 2026
Page 2
B. Paul Zelenak presented the Treasurer's Report.
Moved by Crampton, seconded by Van Leuven to receive and file the Treasurer's
Report. Motion carried
C. Secretary Webster had items for closed session, moved to New Business item E.
D. Aaron Castle of VMT Law presented his legal report and reviewed updates on
the Defined Contribution Investment Manager Request for Proposal.
Moved by Stevens, seconded by Taylor to receive and file the legal report.
Motion carried.
Moved by Taylor, seconded by Stevens to approve the Open Meetings Act
Electronic Meeting Attendance Policy as presented in the legal report. Policy will
go into effect once the administrative by-laws are updated. Motion carried.
Move by Van Leuven, seconded by Crampton to amend the election policy as
presented in the legal report. Motion carried.
VII. Unfinished Business
None
VIII. New Business
A. The 2026 Special Election calendar was presented to the board.
Moved by Van Leuven, seconded by Wittenberg to accept the 2026 Special
Election calendar as submitted. Motion carried.
B. The Investment Subcommittee met earlier in the day to discuss Graystone's
Investment Manager Search book. John Krakowiak and Erik Burger of Graystone
reviewed the search book and held discussion on the Asset Manager change.
Moved by Wittenberg, seconded by Van Leuven to accept the Investment
Subcommittee's recommendation to interview Boston Partners at 11 am on
Tuesday April 21st and DeRoy & Devereau at 12pm on Tuesday April 21 st for All
Cap/Large Cap Value managers; to add Lazard Global to the investment lineup;
and to not respond to the Marathon Asset Manager change in ownership. Motion
carried.
C. Secretary Webster presented the Annual Pension Increase memo to the board.
All pension retirees who retired prior to May 2, 2025, will receive a 1.5% COLA
increase to their base pensions.
Moved by Van Leuven, seconded by Stevens to receive and file the Annual
Pension Increase Memo. Motion carried.
D. Moved by Van Leuven, seconded by Woodward to approve the following Defined
Contribution applications. Motion carried. Chairperson Rozell and the Trustees
thanked Jeff Phelps for his years of service to the Retirement & VEBA Board.
1. Defined Benefit retirement applications - None
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
March 26, 2026
Page 3
2. Defined Contribution retirement applications
Name
Laurie Cooper
Korina Hampton
Sarah Myers
Jeffrey Phelps
Joseph Rzepecki
Anthony Spencer
Carla Spradlin
Amy Wakerley
Kenneth Wakerley
Sharlene Watson
Marie Williams
James Willyard
Department
Parks and Recreation
52/2 District Court
Sheriffs Office
Management and Budget
Friend of Court
Sheriff's Office
Deferred — Economic Dev.
Sheriff's Office
Sheriffs Office
WRC
WRC
Sheriff's Office
Effective
5/30/2026
3/07/2026
5/09/2026
3/21/2026
3/21/2026
4/03/2026
12/10/2025
4/11/2026
4/11/2026
5/02/2026
4/11/2026
3/21/2026
E. Closed Session to discuss disability retirement 2026-A and 2026-B
Moved by Taylor, seconded by Wittenberg, to go into closed session to discuss
disability retirement application 2026-A and 2026-B.
Roll Call:
Ayes: Rozell, Wittenberg, Lefler, Taylor, Crampton, Woodward, Van Leuven,
Stevens
Nayes: None
Absent: None
Motion carried.
Closed session commenced at 2:32 p.m.
Closed session concluded at 2:37 p.m.
Moved by Wittenberg, seconded by Taylor to accept the 2026-A application for
disability retirement and send applicant to the Medical Director for evaluation, as
discussed in closed session. Motion carried
VIII. Trustee Comment
A. Chairperson Rozell noted the next meeting of this Board — Thursday, April 23,
2026, at the County Executive Building, West Oakland Conference Room.
IX. Without objection, Chairperson Rozell adjourned the meeting at 2:38 p.m. Motion
carried.
Respectfully submitted,
t0A-KU
Joseph Rozell; Chairperson Carl 7 Webster,(ecretary