Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA April 14, 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 Matt Weller 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 information provided at said meeting, please contact the ADA department coordinator listed above 48 hours prior to the scheduled meeting.  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. Television and YouTube Coverage Residents can watch the OCERS live by going to http://youtube.com/cityofokc/live. Meetings can also be watched live on Cox Cable Channel 20. If there are technical difficulties with either live stream during the meeting, a video will be posted as soon as possible after the meeting. OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA 10:00 AM, April 14, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of March 10, 2022.  OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA 10:00 AM, April 14, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of March 10, 2022. III. CONSENT DOCKET: A. State Street class action settlement proceeds in the amount of $164.32. B. HD Supply Holdings, Inc. class action settlement proceeds in the amount of $941.28. C. SeaWorld Entertainment, Inc. class action settlment proceeds in the amount of $8,752.46. D. Report of judgments purchased for the month of March 2022, in the amount of $633,270.52. IV. RATIFY APPROVALS: A. Payroll for the month of March 2022 in the amount of $3,723,973.63. B. The action of the Secretary and Administrator in modifying the application due to a change in the Years of Service, Average Final Compensation, Monthly Pension Amount and Effective Date. 1. Case No. 3669 Tony Carlson – Zoo Years of Service: 5 Years, 7 Months Basis: Service Age: 65 Spouse: 60 No Option Average Final Compensation: From $3,040.44 To: $3,036.92 Monthly Pension Amount: From: $339.62 ($3,040.44 X 11.17%) To: $339.22 ($3,036.92 X 11.17%) Effective: July 16, 2020 2. Case No. 3633 Everett Doyle – Public Works Years of Service: 11 Years, 8 Months Basis: Service Age: 70 Spouse: 69 Option A Average Final Compensation: From: $3,831.77 To: $3,834.36 Monthly Pension Amount: From: $747.22 ($3,831.77 X 23.33% X .83586) To: $747.73 ($3,834.36 X 23.33% X .83586) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $534.33 To: $534.84 Effective: From: May 22, 2020 To: May 29, 2020 3. Case No. 3606 Stephen Edwards – General Services  From: $534.33 To: $534.84 Effective: From: May 22, 2020 To: May 29, 2020 3. Case No. 3606 Stephen Edwards – General Services Years of Service: 31 Years, 4 Months Basis: Service Age: 65 Not Married Average Final Compensation: From: $7,416.61 To: $7,426.63 Monthly Pension Amount: From: $4,647.99 ($7,416.61 X 62.67%) To: $4,654.27 ($7,426.63 X 62.67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $4,426.99 To: $4,433.27 Effective: February 1, 2020 4. Case No. 3683 Perry Jenkins – Police Years of Service: 25 Years, 2 Months Basis: Service Age: 57 Not Married Average Final Compensation: From: $7,056.46 To: $7,058.25 Monthly Pension Amount: From: $3,551.52 ($7,056.46 X 50.33%) To: $3,552.42 ($7,058.25 X 50.33%) Effective: September 24, 2020 5. Case No. 3644 Kevin Jones – Utilities Years of Service: 19 Years, 4 Months Basis: Disability – Not in the Line of Duty Age: 54 Spouse: 63 No Option Average Final Compensation: From: $3,687.19 To: $3,688.05 Monthly Pension Amount: From: $1,425.84 ($3,687.19 X 38.67%) To: $1,426.17 ($3,688.05 X 38.67%) Effective: December 17, 2019 6. Case No. 3594 Thomas Lienke – Golf Years of Service: 20 Years, 5 Months Basis: Service Average Final Compensation: From $4,796.44 To: $4,804.60 Monthly Pension Amount: From: $1,711.91 ($4,796.44 X 40.83% X .87414) To: $1,714.82 ($4,804.60 X 40.83% X .87414) Effective: From: January 3, 2020 To: December 31, 2019 7. Case No. 3607 David Loman – Airports Years of Service: 15 Years, 0 Months Basis: Service Average Final Compensation: From: $5,635.68 To: $5,686.67 Monthly Pension Amount: From: $1,082.05 ($5,635.68 X 30% less 36% for early retirement) To: $1,091.84 ($5,686.67 X 30% less 36% for early retirement) Effective: February 7, 2020  Monthly Pension Amount: From: $1,082.05 ($5,635.68 X 30% less 36% for early retirement) To: $1,091.84 ($5,686.67 X 30% less 36% for early retirement) Effective: February 7, 2020 8. Case No. 3625 Carol Lynch – Public Works Years of Service: 14 Years, 1 Month Basis: Service Age: 65 Not Married Average Final Compensation: From: $5,871.25 To: $5,871.46 Monthly Pension Amount: From: $1,653.93 ($5,871.25 X 28.17%) To: $1,653.99 ($5,871.46 X 28.17%) Effective: April 2, 2020 9. Case No. 3595 Robert Martin – Parks Years of Service: 37 Years, 2 Months Basis: Service Age: 68 Spouse: 67 Option A Average Final Compensation: From: $5,805.57 To: $5,807.09 Monthly Pension Amount: From: $3,658.67 ($5,805.57 X 74.33% X .84784) To: $3,659.63 ($5,807.09 X 74.33% X .84784) Effective: January 4, 2020 10. Case No. 3596 John McInturff – Zoo Years of Service: 28 Years, 6 Months Basis: Service Average Final Compensation: From: $2,859.53 To: $2,859.54 Monthly Pension Amount: From: $1,464.44 ($2,859.53 X 57% X .89847) To: $1,464.45 ($2,859.54 X 57% X .89847) Effective: January 1, 2020 11. Case No. 3690 Douglas McMahan – Development Services Years of Service: 33 Years, 7 Months Basis: Service Age: 57 Spouse: 56 Option C Average Final Compensation: From: $6,332.03 To: $6,317.19 Monthly Pension Amount: From: $4,253.22 ($6,332.03 X 67.17%) To: $4,243.26 ($6,317.19 X 67.17%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $3,871.44 To: $3,861.93 Effective: August 5, 2020 12. Case No. 3637 Leland Mersman – Utilities Years of Service: 25 Years, 3 Months Basis: Service Age: 55 Spouse: 62 Option A Average Final Compensation: From: $4,457.03 To: $4,461.57 Monthly Pension Amount: From $2,128.36 ($4,461.57 X 50.5% X .9456) To: $2,130.52 ($4,461.57 X 50.5% X .9456)  Basis: Service Age: 55 Spouse: 62 Option A Average Final Compensation: From: $4,457.03 To: $4,461.57 Monthly Pension Amount: From $2,128.36 ($4,461.57 X 50.5% X .9456) To: $2,130.52 ($4,461.57 X 50.5% X .9456) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $1,949.38 To: $1,951.55 Effective: May 12, 2020 13. Case No. 2899 Timothy Michaud – Zoo Years of Service: 16 Years, 4 Months Basis: Service Age: 65 Spouse: 65 Option B Average Final Compensation: From $3,387.36 To: $3,388.34 Monthly Pension Amount: From: $996.55 ($3,387.36 X 32.67% X .90051) To: $996.84 ($3,388.34 X 32.67% X .90051) Effective: April 14, 2020 14. Case No. 3616 Richard Mooreman – General Services Years of Service: 31 Years, 3 Months Basis: Service Average Final Compensation: From: $4,664.57 To: $4,674.72 Monthly Pension Amount: From: $2,636.39 ($4,664.57 X 62.5% X .90431) To: $2,642.12 ($4,674.72 X 62.5% X .90431) Effective: March 6, 2020 15. Case No. 3638 Kevin Mulcahy – Transit Years of Service: 5 Years, 3 Months Basis: Service Age: 66 Spouse: 62 Option A Average Final Compensation: From: $10,071.46 To: $10,090.79 Monthly Pension Amount: From: $1,057.50 ($10,071.46 X 10.5%) To: $1,059.53 ($10,090.79 X 10.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $696.53 To: $698.24 Effective: April 10, 2020 16. Case No. 3789 Raymond Prather – Utilities Years of Service: From: 19 Years, 5 Months To: 19 Years, 4 Months Basis: Service Age: 62 No Option Average Final Compensation: From: $3,506.51 To: $3,520.06 Monthly Pension Amount: From: $1,198.19 ($3,506.51 x 38.83% less 12% for early retirement) To: $1,197.86 ($3,520.06 X 38.67% less 12% for early retirement) Effective: From: January 4, 2022 To: December 31, 2021 V. APPROVE claims docket. A. Claims to be approved.  Effective: From: January 4, 2022 To: December 31, 2021 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3810 Nancy Bird – Courts Years of Service: 31 Years, 4 Months Basis: Service Age: 60 Not Married Average Final Compensation: $4,315.11 Monthly Pension Amount: $2,704.28 ($4,315.11 X 62.67%) Effective: April 7, 2022 B. Case No. 3811 Mark Eldridge – Airports Years of Service: 33 Years, 2 Months Basis: Service Age: 67 Not Married Average Final Compensation: $5,258.90 Monthly Pension Amount: $3,488.23 ($5,258.90 X 66.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $3,245.46 Effective: April 2, 2022 C. Case No. 3812 Joseph Geeslin – Airports Years of Service: 25 Years, 4 Months Basis: Service Age: 51 Not Married Average Final Compensation: $4,482.52 Monthly Pension Amount: $2,271.29 ($4,482.52 X 50.67%) Effective: March 12, 2022 D. Case No. 3813 John Lemieux – Courts Years of Service: 38 Years, 5 Months Basis: Service Age: 63 Spouse: 60 Option C Average Final Compensation: $8,237.17 Monthly Pension Amount: $5,855.17 ($8,237.17 X 76.83% X .92519) Lump Sum Payment $15,000 Reduced Monthly Pension Amount: $5,751.00 Effective: April 27, 2022 E. Case No. 3814 Ronella Richardson – Public Works Years of Service: 25 Years, 7 Months Basis: Service Age: 55 Not Married Average Final Compensation: $6,873.14 Monthly Pension Amount: $3,516.99 ($6,873.14 X 51.17%) Lump Sum Payment $30,000 Reduced Monthly Pension Amount $3,315.38 Effective: April 1, 2022  Basis: Service Age: 55 Not Married Average Final Compensation: $6,873.14 Monthly Pension Amount: $3,516.99 ($6,873.14 X 51.17%) Lump Sum Payment $30,000 Reduced Monthly Pension Amount $3,315.38 Effective: April 1, 2022 F. Case No. 3815 Kim Schoonover – Planning Years of Service: 35 Years, 0 Months Basis: Service Age: 65 Not Married Average Final Compensation: $6,727.83 Monthly Pension Amount: $4,709.48 ($6,727.83 X 70%) Lump Sum Payment $30,000 Reduced Monthly Pension Amount: $4,476.10 Effective: April 2, 2022 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 3668 Arturo Baquera, Sr. – Died February 15, 2022 Monthly Pension Amount: $1,363.28 Option B Pension to cease February 28, 2022 B. Case No. 3668A Emma Baquera – Widow of Arturo Baquera, Sr. Monthly Pension Amount: $1,022.46 ($1,363.28 x 75%) Effective: March 1, 2022 C. Case No. 2287 Teresa Dunn – Died March 1, 2022 Monthly Pension Amount: $2,322.81 Option A Pension to cease March 31, 2022 D. Case No. 2287A Marty Dunn – Widow of Teresa Dunn Monthly Pension Amount: $2,322.81 ($2,322.81 x 100%) Effective: April 1, 2022 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 2433 Stephen Hamilton – Died February 21, 2022 Monthly Pension Amount: $2,008.19 No Option Pension to cease February 28, 2022 (March 2022 payment returned) B. Case No. 1528 Jesse Wagoner ­ Died March 22, 2022 Monthly Pension Amount: $1,518.79  Pension to cease February 28, 2022 (March 2022 payment returned) B. Case No. 1528 Jesse Wagoner ­ Died March 22, 2022 Monthly Pension Amount: $1,518.79 No Option Pension to cease March 31, 2022 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2580A Donna Deming – Died February 27, 2022 Monthly Pension Amount: $3,422.26 No Beneficiary Pension to cease February 28, 2022 B. Case No. 1186A Mary Preston – Died February 20, 2022 Monthly Pension Amount: $1,044.27 No Beneficiary Pension to cease February 28, 2022 C. Case No. 1037A Emma Louise Simpson – Died March 16, 2022 Monthly Pension Amount: $713.78 No Beneficiary Pension to cease March 31, 2022 X. APPROVE the following applications of Vested Rights. A. Case No. 3815 Keith Duncan – Airports Years of Service: 16 Years, 7 Months Basis: Vested Rights Age: 54 Spouse: 52 Average Final Compensation: $7,591.22 Monthly Pension Amount: $2,518.01 ($7,591.22 X 33.17%) Effective: Age 65 XI. RATIFY APPROVAL of the following to terminate Vested Rights and receive a lump sum distribution of his/her Employee Contribution Account. A. Case No. 3536 Michael Johnson – Utilities Years of Service: 11 Years, 2 Months Basis: Vested Rights Age: 42 Not Married Average Final Compensation: $4,006.36 Monthly Pension Amount: $894.62 ($4,006.36 X 22.33%) Employee Contribution Account: $25,128.05 XII. INDIVIDUAL CONSIDERATION:  Monthly Pension Amount: $894.62 ($4,006.36 X 22.33%) Employee Contribution Account: $25,128.05 XII. INDIVIDUAL CONSIDERATION: A. Memorandum of Understanding among the Oklahoma City Zoological Trust, the Oklahoma City Employee Retirement System, the Oklahoma City Municipal Facilities Authority, and The City of Oklahoma City regarding the Zoological Trust’s implementation of NEOGOV human resources management system. B. Contract with Allen, Gibbs & Houlik, L.C., audit services for fiscal year 2022, fee not to exceed $24,994, July 1, 2022 to June 30, 2023. C. Private Equity Program Review and Approval of Recommendation of $15 million commitment to Warburg Pincus Global Growth Fund 14. D. Enter into Executive Session on advice of the Municipal Counselor to receive confidential communications from its attorney concerning the case of In re 2U, Inc. Securities Class Action, United States District Court for the District of Maryland, Case No. TDC­19­3455 an TDC­20­10006, as authorized by 25 O.S. (2021) §307(B)(4), because disclosure would seriously impair the ability of the public body to conduct the pending litigation in the public interest. XIII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.