HomeMy WebLinkAboutMinutes - 2026.06.25 - 43146OAKLAND COUNTY EMPLOYEES'
RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES
The Oakland County Retirement and Deferred Compensation Board meeting was held June 25,
2026, at 1:32 p.m. in the West Oakland Conference Room in the County Executive Building.
I. Call to Order/ Roll Call
Members Present: Joseph Rozell, Brian J. Lefler, David Woodward, Casey
Crampton, James Van Leuven, Dion Stevens, Michael Swain
Members Absent: Robert Wittenberg, Linnie Taylor
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
Heidi Barry, GRS
Uda Daniel, Human Resources
II. Approval of the Agenda
A. Moved by Stevens, seconded by Crampton to approve the agenda as submitted.
Motion carried.
III. Public Comment
A. Chairperson Rozell introduced Michael Swain, the newly elected OCERSNEBA
Employee Representative Trustee.
B. Secretary Webster introduced Uda Daniel, the Benefits and Retirement Specialist
Senior who assists Oakland County retirees with their healthcare needs.
IV. Consent Agenda
A. Approval of the May 28, 2026, Regular Board and Closed Session minutes
B. Approval of the May 28, 2026, Investment Subcommittee Board minutes
C. Pension Payroll — 06/30/2026
D. Investment Manager Invoices
E. Service Provider Invoices
Moved by Van Leuven, seconded by Crampton to approve the consent agenda,
as submitted. Motion carried.
V. Regular Agenda
A. Chairperson Rozell reviewed the election results for the June 2, 2026, Employee
Representative Special Election, term ending December 31, 2027. Michael
Swain was elected to the open Employee Trustee position and was sworn in on
June 25, 2026.
Moved by Van Leuven, seconded by Crampton to receive and file the election
results for June 2, 2026, Employee Representative Special Election, term ending
December 31, 2027. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 25, 2026
Page 2
A. Moved by Van Leuven, seconded by Crampton to approve the following Defined
Benefit and Defined Contribution applications. Motion carried.
1. Defined Benefit retirement applications
I Name I Department I Effective I
I Richele Hollingsworth I Circuit Court I 07/18/2026 I
2. Defined Contribution retirement applications
Name
Rami Abi Adal
Matthew Baldes
William Black
Derek Brown
Lauren Chamberlin
Shane Evans
Paula Goodman
Julie Gorman
Ann -Marie Hiner
Mark Hollingsworth
Timothy Payne
Bradford Rachwal
Allan Robbins
Stacey Springer
Tracy Stolzenfeld
Thomas Vida Jr.
*Missed Agenda Approval
Department
Sheriff's Office
Sheriff's Office
Airport and Aviation
Deferred — FM&O
Veteran's Services
Sheriff's Office
Sheriff's Office
Friend of Court
Deferred — District Court
Sheriff's Office
Sheriffs Office
Sheriff's Office
IT
Sheriff's Office
Board of Commissioners
Sheriff's Office
Effective
7/02/2026
7/11/2026
6/18/2026
4/29/2023*
7/08/2026
7/11/2026
7/18/2026
8/29/2026
6/06/2026
7/18/2026
6/27/2026
7/25/2026
6/06/2026
6/27/2026
7/07/2026
6/13/2026
VI. Reports
A. John Krakowiak, Amy Cole and Erik Burger of Graystone reviewed the Market
Commentary Report, 1St Quarter 2026 DB Plan Performance Report, May 2026
DB Plan Performance Report, Asset Allocation Analysis, and earnings growth.
Possible small/mid cap benchmark changes will be discussed further at the July
meeting.
Moved by Crampton, seconded by Swain to receive and file Graystone's Market
Commentary Report, 1St Quarter 2026 DB Plan Performance Report, May 2026
DB Plan Performance Report, and Asset Allocation Analysis. Motion carried.
Moved by Woodward, seconded by Van Leuven to approve the transition of the
Kennedy and Reinhart accounts to the Morgan Stanley UMA platform, and the
State Street S&P 500 index fund to Northern Trust's S&P 500 index fund, subject
to legal review and negotiation of acceptable contract terms. The Board
Chairperson is authorized to sign the side letters when finalized. Motion carried.
Moved by Stevens, seconded by Van Leuven to accept Graystone's
recommendation to move $1 Million from CSMcKee Fixed Income to Cash for
expenses. Motion carried.
Oakland County Employees' Retirement and Deferred Compensation Board Minutes
June 25, 2026
Page 3
B. Paul Zelenak presented the Treasurer's Report.
Moved by Crampton, seconded by Swain to receive and file the Treasurer's
Report. Motion carried
C. Secretary Webster provided a verbal update on the updated Authorized Signer
Resolution.
Moved by Crampton, seconded by Van Leuven to receive and file the updated
Authorized Signer Resolution. Motion carried.
D. Aaron Castle of VMT Law presented his legal report and reviewed updates on
the Defined Contribution Investment Manager Request for Proposal, Self -
Directed Brokerage Accounts, security litigation, and writs of garnishment.
Moved by Crampton, seconded by Stevens to receive and file the legal report.
Motion carried.
VII. Unfinished Business
None
VIII. New Business
A. Chairperson Rozell named Brian Lefler and Dion Stevens as new members to
the OCERS Investment Subcommittee.
VIII. Trustee Comment
A. Assistant Secretary Pena reviewed the upcoming educational conferences
available to the Trustees.
B. Chairperson Rozell and Trustee Lefler discussed the proposed VESIP offer to
the Equalization Division at Oakland County.
C. Trustee Stevens thanked Trustee Lefler for participating as a speaker on a panel
during the National Association of Securities Professionals Annual Conference.
D. Chairperson Rozell noted the next meeting of this Board — Thursday, July 23,
2026, at the County Executive Building, West Oakland Conference Room.
IX. Without objection, Chairperson Rozell adjourned the meeting at 2:55p.m. Motion
carried.
Respectfully submitted,
Joseph Rozell, Chairperson
Carly Webster', Secretary