Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA May 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 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 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 meeting 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, May 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. RECEIVE election report. III. APPROVE minutes of meeting of April 14, 2022.  OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA 10:00 AM, May 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. RECEIVE election report. III. APPROVE minutes of meeting of April 14, 2022. IV. CONSENT DOCKET: A. Report of judgments purchased for the month of April 2022, in the amount of $646,666.25. V. RATIFY APPROVALS: A. Payroll in the month of April 2022, in the amount of $3,738,158.76 B. Payment of claim to The City of Oklahoma City in the amount of $17,587.25 for 4Q22 Admin Services Chargeback. C. Payment of claim to The City of Oklahoma City in the amount of $8,558.01 for 4Q22 IT Chargeback. D. Payment of claim to The City of Oklahoma City in the amount of $69.44 for March 2022 postage charges. E. Resolution ratifying the actions of the Chairman in authorizing the law firm of Labaton Sucharow LLP to notify the mediator and the court that the plaintiffs, which include the ERS, are willing to accept, on behalf of the class, an amount consistent with the evidence a total settlement as recommended by legal counsel in the class action securities case against 2U, Inc.. VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 3817 Arturo Baquera, Jr. – Utilities Years of Service: 25 Years, 4 Months Basis: Service Age: 48 Spouse: 51 Option A Average Final Compensation: $7,056.58 Monthly Pension Amount: $3,352.56 ($7,056.58 X 50.67% X .93763) Effective: May 12, 2022 B. Case No. 3818 Dorothy Bates – Police Years of Service: 10 Years, 6 Months  Monthly Pension Amount: $3,352.56 ($7,056.58 X 50.67% X .93763) Effective: May 12, 2022 B. Case No. 3818 Dorothy Bates – Police Years of Service: 10 Years, 6 Months Basis: Service Age: 71 Not Married Average Final Compensation: $3,553.02 Monthly Pension Amount: $746.13 ($3,553.02 X 21%) Partial Lump Sum Elected: $30,000 Reduced Monthly Pension Amount: $479.92 Effective: March 31, 2022 C. Case No. 3819 Sherman Norvelle – Public Works Years of Service: 38 Years, 2 Months Basis: Service Age: 66 Spouse: 62 Option A Average Final Compensation: $6,032.65 Monthly Pension Amount: $3,859.31 ($6,032.65 X 76.33% X .83812) Effective: May 13, 2022 D. Case No. 3820 Rodney Scott – Utilities Years of Service: 25 Years, 4 Months Basis: Service Age: 62 Spouse: 61 Option B Average Final Compensation: $4,756.17 Monthly Pension Amount: $2,178.67 ($4,756.17 X 50.67% X .90403) Effective: May 7, 2022 E. Case No. 3821 Kerry Smith – Utilities Years of Service: 35 Years, 8 Months Basis: Service Age: 58 Spouse: 59 Option C Average Final Compensation: $7,082.21 Monthly Pension Amount: $4,789.81 ($7,082.21 X 71.33% X .94815) Effective: May 1, 2022 VIII. RECEIVE report of death. APPROVE continuation of pension to spouse. A. Case No. 2742 Harry Francis, Jr. – Died December 15, 2021 Monthly Pension Amount: $2,155.34 Option B Pension to cease December 31, 2021 B. Case No. 2742A Claudia Francis – Widow of Harry Francis, Jr. Monthly Pension Amount: $1,616.51 ($2,155.34 X 75%) Effective: January 1, 2022 IX. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and  B. Case No. 2742A Claudia Francis – Widow of Harry Francis, Jr. Monthly Pension Amount: $1,616.51 ($2,155.34 X 75%) Effective: January 1, 2022 IX. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 2012 Sandra Cole – Died March 5, 2022 Monthly Pension Payment: $1,641.22 Option A Pension to cease March 31, 2022 B. Case No. 2012A John Cole – Widow of Sandra Cole Monthly Pension Amount: $1,641.22 ($1,641.22 X 100%) Effective Date: April 1, 2022 C. Case No. 2335 Edward Wickware – Died April 8, 2022 Monthly Pension Amount: $3,114.04 Option A Pension to cease April 30, 2022 D. Case No. 2335A Rhonda Wade – Widow of Edward Wickware Monthly Pension Amount: $3,114.04 ($3,114.04 X 100%) Effective Date: May 1, 2022 X. 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. 2676 Ralph Chiles – Died April 3, 2022 Monthly Pension Amount: $866.55 No Option Pension to cease April 30, 2022 B. Case No. 3784 Becca Field­Jessop – Died April 26, 2022 Monthly Pension Amount: $3,773.84 Option C – Pending Spouse Application Pension to cease April 30, 2022 C. Case No. 2201 Bernard Harris – Died April 11, 2022 Monthly Pension Amount: $2,812.64 No Option Pension to cease April 30, 2022 D. Case No. 1899 Gay Hicks – Died April 29, 2022 Monthly Pension Amount: $1,254.70 No Option  D. Case No. 1899 Gay Hicks – Died April 29, 2022 Monthly Pension Amount: $1,254.70 No Option Pension to cease April 30, 2022 E. Case No. 1620 Daniel Villegas ­ Died April 28, 2022 Monthly Pension Amount: $190.44 No Option Pension to cease April 30, 2022 F. Case No. 2095 Pat Warme – Died April 17, 2022 Monthly Pension Amount; $983.52 No Option Pension to cease April 30, 2022 G. Case No. 1831 Chester Wilkinson – Died April 9, 2022 Monthly Pension Amount: $1,380.81 Option A – Pending Spouse Application Pension to cease April 30, 2022 XI. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1098A Dorothy Hamill – Died March 26, 2022 Monthly Pension Benefit: $1,393.33 No Beneficiary Pension to cease March 31, 2022 B. Case No. 1924A Minnie Wade – Died March 12, 2022 Monthly Pension Amount: $1,022.03 No Beneficiary Pension to cease March 31, 2022 XII. APPROVE the following applications of Vested Rights. A. Case No. 3822 Susan Torres – Public Works Years of Service: 10 Years, 8 Months Basis: Vested Rights Age: 45 Spouse: 44 Average Final Compensation: $6,329.23 Monthly Pension Amount: $1,350.02 ($6,329.23 X 21.33%) Effective: Age 65 XIII. INDIVIDUAL CONSIDERATION: A. Approve sending attendees to the Oklahoma Public Funds Trustee Educational Conference, September 28, 2022 through September 30, 2022, in Tulsa, XIII. INDIVIDUAL CONSIDERATION: A. Approve sending attendees to the Oklahoma Public Funds Trustee Educational Conference, September 28, 2022 through September 30, 2022, in Tulsa, Oklahoma. B. Approval of sending attendees to the International Foundation of Employee Benefit Plans’ training program to pursue the Certificate of Achievement in Public Plan Policy (Employee Pensions), June 6­9, 2022, in Santa Monica, California. C. Approval of sending attendees to the National Association of Public Pension Attorneys’ 2022 Legal Education Conference June 21, 2022 through June 24, 2022, in Louisville, Kentucky. D. Receive Quarterly Investment Report. E. Receive Monthly Investment Report. F. Real Estate Portfolio Discussion and Review of Recommendation of $10 million commitment to Blackstone Real Estate Partners X. G. Enter into Executive Session on advice of the Municipal Counselor to receive confidential communications from its attorney concerning the case of In re Pro Petro Holding Securities Class Action, United States District Court for the District of Texas, Midland/Odessa Division, Case No. MO: 19 ­ CV – 217 – DC, 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. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.