Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM SPECIAL MEETING FORMAL AGENDA January 13, 2022 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Jacqueline Ames Brent Bryant Sri Jonnada Eugene (Marty) Lawson Aimee Maddera Karla Nickels JC Reiss Randy Thurman Jim Williamson Amy K. Simpson, Ex­officio Matthew Boggs, Ex­officio Regina Story, ERS Manager Wiley Williams, Deputy Municipal Counselor 200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION The following safety guidelines are in place for meetings in the Council Chamber at City Hall: only the south entrance to City Hall will be open; air purifying machines have been installed in the Chamber; hand sanitizer machines and disposable face masks will be available. It is the policy of the City to ensure that communications with participants and members of the public with disabilities are as effective as communications with others. Anyone with a disability who requires an accommodation, a modification of policies or procedures, or an auxiliary aid or service in order to participate in this meeting should contact the ADA department coordinator at 297­2408 or TDD 297­2020 as soon as possible but not later than 48 hours (not including weekends or holidays) before the scheduled meeting. The department will give primary consideration to the choice of auxiliary aid or service requested by the individual with the disability. If you need an alternate format of the agenda or any  200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION The following safety guidelines are in place for meetings in the Council Chamber at City Hall: only the south entrance to City Hall will be open; air purifying machines have been installed in the Chamber; hand sanitizer machines and disposable face masks will be available. It is the policy of the City to ensure that communications with participants and members of the public with disabilities are as effective as communications with others. Anyone with a disability who requires an accommodation, a modification of policies or procedures, or an auxiliary aid or service in order to participate in this meeting should contact the ADA department coordinator at 297­2408 or TDD 297­2020 as soon as possible but not later than 48 hours (not including weekends or holidays) before the scheduled meeting. The department will give primary consideration to the choice of auxiliary aid or service requested by the individual with the disability. If you need an alternate format of the agenda or any information provided at said meeting, please contact the ADA department coordinator listed above 48 hours prior to the scheduled meeting. Citizens may address the Board on certain items by signing up to speak and providing the agenda item number, their reason for appearing and their address, but all comments must be relevant to the item. The Chairman or presiding officer may in his or her discretion prohibit a person from addressing the Board, or have any person removed from the Council Chamber, if that person commits any disorderly or disruptive behavior. Disorderly conduct includes, but is not limited to, any of the following: speaking without being recognized by the Chairman or presiding officer; continuing to speak after notice that the speaker’s allotted time has expired; presenting comments or material not relevant to the item under discussion; failing to comply with the lawful instructions of the Chairman or presiding officer; engaging in other conduct, activity or speech that delays, pursuant to 21 O.S. § 280, disruptive conduct includes any conduct that is “violent, threatening, abusive, obscene, or that jeopardizes the safety of self or others. A person may also be subject to arrest and removal from the Municipal Building for violation of Oklahoma City Municipal Code 2020, § 3081 – Disorderly conduct and/or violation of Okla. Stat. tit. 21, §280 Willfully Disturbing, Interfering With or Disrupting State Business, Agency Operations or Employees. Citizens may address the Board on individual concerns at the end of the agenda under “Comments from Board, Staff and Citizens.” Comments from Board, Staff and Citizens is not provided as a forum for publicly announced or declared candidates for City public office, and they will not be allowed to speak as Comments from Board, Staff and Citizens. Citizens will not be allowed to campaign on any political issue during the meeting. Comments must concern OCERS services or policies. Please fill out a "Request to be Heard" form located outside the Chambers. Please return this form to the Council Office at the north end of the hall. PLEASE LIMIT YOUR COMMENTS TO 3 MINUTES. Continuing to speak beyond the time allowed by the Chairman or presiding officer shall constitute grounds for removal from the Council Chamber. Citizens who wish to be listed on the agenda for comments to the Board may call the City Clerk's Office at 297­ 2397 before 4 p.m. on the Tuesday prior to the next OCERS meeting. Persons so listed on the agenda for comments to the Board are subject to the same restrictions listed above. Persons may use City computer to make presentations to the Board only if requested to do so by the Chairman or a board member and the device containing the presentation is provided to the City Clerk three business days in advance. OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM SPECIAL MEETING FORMAL AGENDA 10:00 AM, January 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 9, 2021. III. CONSENT DOCKET: A. Receive results of the Retiree election reelecting Karla Nickels, Retiree Representative, to serve the term January 1, 2022 through December 31, 2023. B. Annual Consolidated Financial Report for the Fiscal Year Ended June 30, 2020 days in advance. OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM SPECIAL MEETING FORMAL AGENDA 10:00 AM, January 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 9, 2021. III. CONSENT DOCKET: A. Receive results of the Retiree election reelecting Karla Nickels, Retiree Representative, to serve the term January 1, 2022 through December 31, 2023. B. Annual Consolidated Financial Report for the Fiscal Year Ended June 30, 2020 and 2021. C. Report of judgments purchased for the month of December 2021, in the amount of $264,458.30. IV. RATIFY APPROVALS: A. Payroll for the month of December 2021, in the amount of $3,499,427.52. B. Payment of claim to The City of Oklahoma City of $17,587.25 for 3Q22 Admin Services Chargeback. C. Payment of claim to The City of Oklahoma City of $8,558.01 for 3Q22 IT Chargeback. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3779 Laurie Allen – Human Resources Years of Service: 13 Years, 9 Months Basis: Service Age: 65 Spouse: 65 Option C Average Final Compensation: $7,501.25 Monthly Pension Amount: $1,921.33 ($7,501.25 X 27.5% X .9314) Effective: January 25, 2022 B. Case No. 3780 James Ashley – Utilities Years of Service: 27 Years, 2 Months Basis: Service Age: 53 Spouse: 50 Option A Average Final Compensation: $4,338.17 Monthly Pension Amount: $2,136.23 ($4,338.17 X 54.33% X .90636)  James Ashley – Utilities Years of Service: 27 Years, 2 Months Basis: Service Age: 53 Spouse: 50 Option A Average Final Compensation: $4,338.17 Monthly Pension Amount: $2,136.23 ($4,338.17 X 54.33% X .90636) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,957.33 Effective: January 4, 2022 C. Case No. 3781 Allison Bueno – Police Years of Service: 12 Years, 2 Months Basis: Service Age: 59 Spouse: 60 Option A Average Final Compensation: $3,890.43 Monthly Pension Amount: $645.81 ($3,890.43 X 24.33% X .89774 less 24% for early retirement) Effective: January 28, 2022 D. Case No. 3782 Steve Byers – Information Technology Years of Service: 31 Years, 4 Months Basis: Service Age: 60 Not Married Average Final Compensation: $8,485.85 Monthly Pension Amount: $5,318.08 ($8,485.85 X 62.67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $5,103.22 Effective: January 22, 2022 E. Case No. 3783 Richard Chapa – Public Works Years of Service: 16 Years, 9 Months Basis: Service Age: 68 Spouse: 69 Option B Average Final Compensation: $4,915.89 Monthly Pension Amount: $1,468.58 ($4,915.89 X 33.5% X .89177) Effective: January 21, 2022 F. Case No. 3784 Becca Field­Jessop – Information Technology Years of Service: 29 Years, 8 Months Basis: Service Age: 50 Spouse: 46 Option C Average Final Compensation: $6,979.64 Monthly Pension Amount: $3,957.24 ($6,979.64 X 59.33% X .95562) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $3,773.84 Effective: January 5, 2022 G. Case No. 3785 Dale Green – Golf Years of Service: 5 Years, 7 Months Basis: Service Age: 72 Spouse: 70 Option A Average Final Compensation:$1,829.38  Dale Green – Golf Years of Service: 5 Years, 7 Months Basis: Service Age: 72 Spouse: 70 Option A Average Final Compensation:$1,829.38 Monthly Pension Amount: $166.71 ($1,829.38 X 11.17% X .81584) Lump Sum Elected $10,000 Reduced Monthly Pension Amount: $92.39 Effective: January 2, 2022 H. Case No. 3786 Myra Kirk­Brown – Development Services Years of Service: 15 Years, 9 Months Basis: Service Age: 66 Spouse: 70 No Option Average Final Compensation: $4,185.40 Monthly Pension Amount: $1,318.40 ($4,185.40 X 31.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,080.49 Effective: January 7, 2022 I. Case No. 3787 Joyce Lambert – Utilities Years of Service: 30 Years, 5 Months Basis: Service Age: 65 Not Married Average Final Compensation: $6,345.56 Monthly Pension Amount: $3,860.00 ($6,345.56 X 60.83%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $3,626.62 Effective: January 4, 2022 J. Case No. 3788 Kirk McIntosh – Public Works Years of Service: 38 Years, 9 Months Basis: Service Age: 62 Spouse: 81 Option B Average Final Compensation: $5,172.39 Monthly Pension Benefit: $3,904.94 ($5,172.39 X 77.5% X .97414) Effective: January 15, 2022 K. Case No. 3789 Raymond Prather – Public Works Years of Service: 19 Years, 5 Months Basis: Service Age: 62 Not Married Average Final Compensation: $3,506.51 Monthly Pension Amount: $1,198.19 ($3,506.51 X 38.83% less 12% for early retirement) Effective: January 4, 2022 L. Case No. 3790 Lucretia Smith – Public Works Years of Service: 26 Years, 7 Months Basis: Service Age: 61 Not Married Average Final Compensation: $4,890.70  Lucretia Smith – Public Works Years of Service: 26 Years, 7 Months Basis: Service Age: 61 Not Married Average Final Compensation: $4,890.70 Monthly Pension Amount: $2,600.39 ($4,890.70 X 53.17%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,382.31 Effective: January 28, 2022 M. Case No. 3791 Mary Smith – Utilities Years of Service: 45 Years, 4 Months Basis: Service Age: 65 Not Married Average Final Compensation: $4,829.91 Monthly Pension Amount: $4,379.28 ($4,829.91 X 90.67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,145.90 Effective: January 7, 2022 N. Case No. 3792 Lynna Thompson – Airports Years of Service: 17 Years, 2 Months Basis: Service Age: 70 Not Married Average Final Compensation: $6,663.24 Monthly Pension Amount: $2,287.49 ($6,663.24 X 34.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,027.82 Effective: January 7, 2022 O. Case No. 3793 Jimmie Woolly – Parks Years of Service: 29 Years, 9 Months Basis: Service Age: 67 Not Married Average Final Compensation: $4,678.50 Monthly Pension Amount: $2,783.71 ($4,678.50 X 59.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,540.94 Effective: January 4, 2022 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 2742 Harry Francis, Jr. – Died December 15, 2021 Monthly Pension Amount: $2,113.08 Option B – Pending Spouse Application Pension to cease December 31, 2021 B. Case No. 2142 Muriel Horn – Died December 18, 2021 Monthly Pension Amount: $1,449.13 Option A – Pending Spouse Application Pension to cease December 31, 2021 C. Case No. 2969  Muriel Horn – Died December 18, 2021 Monthly Pension Amount: $1,449.13 Option A – Pending Spouse Application Pension to cease December 31, 2021 C. Case No. 2969 Kendle Riley – Died January 7, 2022 Monthly Pension Amount: $2,822.27 Option A – Pending Spouse Application Pension to cease January 31, 2021 VIII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1124 Manuel Galura – Died November 19, 2021 Monthly Pension Amount: $421.20 No Option Pension to cease November 30, 2021 B. Case No. 1947 Marvin Hall – Died November 23, 2021 Monthly Pension Amount: $1,296.30 No Option Pension to cease November 30, 2021 C. Case No. 2076 Ladonna Hodge – Died December 9, 2021 Monthly Pension Amount: $484.55 No Option Pension to cease December 31, 2021 D. Case No. 3402 Eric McMillan – Died December 31, 2021 Monthly Pension Amount: $557.90 No Beneficiary Pension to cease December 31, 2021 E. Case No. 2485 Patti Smith – Died December 28, 2021 Monthly Pension Amount: $2,045.48 No Beneficiary Pension to cease December 31, 2021 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1689A Edna Holloway – Died October 9, 2021 Monthly Pension Amount: $1,670.32 No Beneficiary Pension to cease October 31, 2021 (November 2021 payment returned) B. Case No. 2000A  Monthly Pension Amount: $1,670.32 No Beneficiary Pension to cease October 31, 2021 (November 2021 payment returned) B. Case No. 2000A Katherine Slover – Died November 3, 2021 Monthly Pension Amount: $424.38 No Beneficiary Pension to cease November 30, 2021 C. Case No. 1940A Rosa Werner – Died December 20, 2021 Monthly Pension Amount: $789.43 No Beneficiary Pension to cease December 31, 2021 X. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3778 Edwin Coleman – Utilities Years of Service: 6 Years, 3 Months Basis: Service Age: 61 Spouse: 54 No Option Average Final Compensation: $3,468.37 Monthly Pension Amount: $364.18 ($3,468.37 X 12.5% less 16% for early retirement) Effective: October 25, 2021 XI. INDIVIDUAL CONSIDERATION: A. Renewal of contract for medical examinations and evaluations of applicants for disability retirements with Independent Medical Examinations, LLC, retroactive to January 1, 2022 through December 31, 2023. B. Interest rate to be applied to Employee Contributions for the period January 1, 2021 through December 31, 2021. C. Cost of living adjustment be granted to eligible retirees effective January 1, 2022. D. Receive Private Equity and Real Estate Program Review and Recommendations. E. Approve Private Equity allocation of $7.5 million to Francisco Partners VII and $2.5 million to Francisco Agility III. F. Approve Opportunistic Real Estate allocation of $10 million to Angelo Gordon Realty Value Fund XI. XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens.  A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.