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  • OAKLAND COUNTY RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES

    The Oakland County Retirement and Deferred Compensation Board meeting was held January 22, 2015 at 1:30 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. D'Arcy Gonzales Curtis Childs Jeffrey Phelps Andy Meisner Thomas Middleton Joseph Rozell Laurie VanPelt (designee of County Executive) Members Absent: Eileen Kowall Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Keith Lerminiaux, Counsel to the Board Natalie Neph, Treasurer’s Office George Tarlas, ACG Rebecca Holtz, Oakland County Retiree Jon Feinberg, ABS Investment Management Laurence Russian, ABS Investment Management Secretary Judy Fandale chaired the meeting. 1. Moved by Gonzales, seconded by Rozell to approve the minutes of December 11, 2014.

    Motion carried. 2. Meeting was opened for public comment; no one spoke. 3. Moved by Gonzales, seconded by Rozell that James H. VanLeuven, Jr. be nominated for Chairperson. Moved by Middleton, seconded by VanPelt that nominations be closed and a unanimous ballot be cast. Motion carried. Chairperson James H. VanLeuven, Jr. assumed the chair. 3a. Moved by Rozell, seconded by Childs that Jeffrey Phelps be nominated for Vice-

    Chairperson. Moved by Middleton, seconded by Gonzales that nominations be closed and a unanimous ballot be cast. Motion carried.

    4. Jon Feinberg and Laurence Russian from ABS Investment Management LLC, made a

    presentation to the board on the Equity Long/Short Fund. 5. Moved by Meisner, seconded by Phelps to approve the following Defined Benefit retirement

    applications. Motion carried. HEALTH RETIREMENT DEPT OPTION ELIGIBILITY EFFECTIVE

    Church, Bonnie Deferred SL Family (1) 01/28/15 Erkins, Cedric Sheriffs A-100% Family (F) 01/24/15 Falardeau, Nancy Fiscal Services D-100% Family (2) 01/31/15 Hunt, Kirt Support Services A-100% Family (2) 01/27/15 Kelly, Daniel FM&O C Family (2) 03/18/15

  • Retirement Minutes January 22, 2015 Page 2 Defined Benefit Retirement applications continued-

    HEALTH RETIREMENT DEPT OPTION ELIGIBILITY EFFECTIVE

    Krinn, Peggy Deferred SL Family (F) 01/28/15 Minard, Sue Prosecutors B-50% Family (2) 01/21/15 Riopelle, Anne Deferred C One Person 03/18/15 Szlenkier, Henry Circuit Court A-100% Family (F) 01/24/15

    6. Moved by Childs, seconded by Gonzales to approve the following Defined Contribution retirement applications. Motion carried.

    HEALTH RETIREMENT DEPT ELIGIBLIITY EFFECTIVE

    Bolle, William 52-4 District Court Family (2) 01/02/15 Golob, Carol Health Family (2) 01/21/15 Hatchett, Mattie BOC RHS-C 01/02/15 Markiewicz, Terri Sheriffs Family (F) 01/21/15 Odle, Susan Fiscal Services 68% 02/03/15 Robins, Michael Sheriffs Family (F) 02/13/15 Shaw, Lynda Veterans Family (2) 02/11/15 Washburn, Joe WRC 64% 02/04/15

    7. Moved by Rozell, seconded by Childs to close the meeting to discuss the Defined Contribution non-duty disability retirement application for Carol Pote. Roll call was taken; motion approved unanimously.

    7a. Moved by Rozell, seconded by VanPelt to re-open the meeting. Roll call was taken; motion approved unanimously. 7b. Moved by VanPelt, seconded by Rozell to approved the Defined Contribution non-duty disability retirement application for Carol Pote effective December 19, 2014. Motion carried. 8. Moved by Meisner, seconded by Middleton to receive and file the 4th Quarter 2014 Defined

    Benefit and Defined Contribution reports. Motion carried. 9. Moved by Rozell, seconded by Gonzales to receive and file the Deferred Compensation

    hardships for January 2015. Motion carried. 10. Middleton drew names for the 4th Quarter 2014 R.E.A.P. (Retirement Education &

    Awareness Program) drawing. Congratulations to the winners of the $100 Visa Gift Cards; John Jacob, from OCSD for attending an ICMA-RC 1:1 consultation, Laura Gabriel, from Animal Control for attending a Pre-Retirement class, Melissa Walters from 52-1 District Court for attending an ICMA-RC 1:1 consultation and Erica Perry from 52-1 District Court for attending an ICMA-RC 1:1 consultation.

    11. George Tarlas from Asset Consulting Group presented the ASAP report to the Board and

    summarized the Year in Review report. 12. Discussion regarding Defined Benefit beneficiary designations. No action taken.

  • Retirement Minutes January 22, 2015 Page 3 13. Other Business: a. Chairman VanLeuven appointed VanPelt, Gonzales, Meisner and himself to the Investment Sub-committee for 2015. b. Chairman VanLeuven will appoint an ad-hoc Education Sub-committee if needed throughout the year. c. Chairman VanLeuven moved the April 23, 2015 Board meeting to April 28, 2015 at 1:00pm. The Retirement office will notify the Board of the meeting location. d. VanPelt suggested a broadcast message be sent out to all employees encouraging them to consider allocating the money they’re saving on low gasoline prices, toward the Deferred Compensation plan. 14. Moved by Gonzales seconded by Childs to adjourn the meeting at 3:15 p.m. Motion carried. The next meeting is scheduled for Thursday, February 19, 2015 at 1:30 p.m.

    Respectfully submitted,

    ____________________________________ ____________________________________ James H. VanLeuven, Jr. – Chairperson Judy D. Fandale, Secretary

  • OAKLAND COUNTY RETIREMENT AND DEFERRED COMPENSATION BOARD MINUTES

    The Oakland County Retirement and Deferred Compensation Board meeting was held February 19, 2015 at 1:35 p.m. in the West Oakland Conference Room. Members Present: James H. VanLeuven, Jr. Jeffrey Phelps Curtis Childs Joseph Rozell Andy Meisner Eileen Kowall (designee of Chairman, Board of Commissioners) Laurie VanPelt (designee of County Executive) Members Absent: D'Arcy Gonzales, with notice Thomas Middleton, without notice Others Present: Judy Fandale, Human Resources Jennifer Hain, Human Resources Megan Navarre, Human Resources Paige Ritchie, Human Resources Lisa Villella, Human Resources Keith Lerminiaux, Counsel to the Board John McCann, ICMA-RC Sandra Rouse-Thames, ICMA-RC Nancy Lange, ICMA-RC David Breuhan, Schwartz & Co Janette Schad, Schwartz & Co Ben Jones, Schwartz & Co Rebecca Holtz, Oakland County Retiree 1. Moved by Meisner, seconded by Rozell to approve the minutes of January 22, 2015. Motion

    carried.

    2. Meeting was opened for public comment; the committee welcomed Commissioner Kowall.

    3. Moved by VanPelt, seconded by Meisner to approve the following Defined Benefit retirement applications. Motion carried.

    DEPARTMENT OPTION HEALTH ELIGIBILITY

    RETIREMENT EFFECTIVE

    Clarfelt, Margo Childrens Village A-100% Family (2) 02-21-2015

    Rose, Terri Health D-100% Family (F) 03-21-2015

    Stoll, Carol Deferred A-100% Family (2) 03-18-2015

    4. Moved by Phelps, seconded by Childs to approve the following Defined Contribution retirement applications. Motion carried

    DEPARTMENT HEALTH ELIGIBILITY

    RETIREMENT EFFECTIVE

    Altman, Kathleen Health Dept 80% 02-28-2015

    Barry, Michelle FOC Family (2) 03-04-2015

    Crawford, Kathleen Parks & Rec Family (1) 02-19-2015

    Graves, Linda Health Family (2) 02-28-2015

    Johnson, Karen Circuit Court Family (F) 03-03-2015

    Mansch, Mary FOC 72% 03-07-2015

  • Retirement Minutes February 19, 2015 Page 2

    5. Moved by Meisner, seconded by Kowall to receive and file the 2014 OCERS Securities Litigation report. Motion carried.

    6. Moved by VanPelt, seconded by Kowall to approve the invoice from Gabriel, Roeder Smith and Co. in the amount of $10,000 for the GASB 67 actuarial valuation. Motion carried.

    7. John McCann, Sandra Rouse-Thames and Nancy Lange from ICMA-RC made a presentation to the board.

    7a. Moved by VanPelt, seconded by Meisner to provide lunch for employees attending the educational seminars. Annual cost for meals may not exceed $2200 and will be paid from the ICMA-RC Administrative allowance. Motion carried.

    8. Chairman VanLeuven appointed Childs, Rozell and VanPelt to an ad-hoc committee to review the ICMA-RC and Fidelity suspense accounts for reimbursement to participants.

    9. David Breuhan and Janette Schad from Gregory J Schwartz & Co. presented the 401(a) and 457(b) 4th quarter performance review to the board. Moved by Meisner, seconded by Childs to approve the recommendations made by Schwartz & Co as follows. Motion carried. ICMA 401(a) Plan a. Keep PIMCO Total Return on watch list b. Keep PIMCO High Yield on watch list c. Keep Fidelity Advisor Mid Cap II on watch list d. Keep Fidelity Advisor Small Cap on watch list e. Place Franklin Natural Resources on watch list Fidelity Investments 457(b) Plan a. Keep Fidelity Managed Income Portfolio II on watch list b. Keep PIMCO Total Return on watch list c. Keep Fidelity Asset Manager 20% on watch list.

    d. Place Prudential Jennison Natural Resources on watch list

    10. Moved by VanPelt, seconded by Meisner to adopt the resolution which defines an Insurable Interest in the Defined Benefit plan as follows. Motion carried.

    1) T

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