Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA June 09, 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. OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA 10:00 AM, June 09, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of May 13, 2022. III. CONSENT DOCKET: A. Report of judgments purchased for the month of May 2022, in the amount of $221,276.09. IV. RATIFY APPROVALS: days in advance. OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA 10:00 AM, June 09, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of May 13, 2022. III. CONSENT DOCKET: A. Report of judgments purchased for the month of May 2022, in the amount of $221,276.09. IV. RATIFY APPROVALS: A. Payroll for the month of May 2022 in the amount of $3,684,770.17. B. Payment of claim to The City of Oklahoma City of $65.96 for April 2022 Printshop – postage chargeback. C. The action of the Secretary and Administrator in modifying the application due to a change in the Average Final Compensation and Monthly Pension Amount. 1. 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: From: $6,979.64 To: $7,022.58 Monthly Pension Amount: From: $3,957.24 ($6,979.64 X 59.33% X .95562) To: $4,166.50 ($7,022.58 X 59.33% X .95562) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $3,773.84 To: $3,798.19 Effective: January 5, 2022 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3823 Carl Borgfeld – Police Years of Service: 25 Years, 0 Months Basis: Service Age: 57 Spouse: 59 Option C Average Final Compensation: $6,019.36 Monthly Pension Amount: $2,865.88 ($6,019.36 X 50% X .95222) Effective: June 10, 2022  Age: 57 Spouse: 59 Option C Average Final Compensation: $6,019.36 Monthly Pension Amount: $2,865.88 ($6,019.36 X 50% X .95222) Effective: June 10, 2022 B. Case No. 3824 Bernard Cooks – Parks Years of Service: 8 Years, 6 Months Basis: Service Age: 64 Spouse: 61 Option A Average Final Compensation: $3,400.05 Monthly Pension Amount: $474.66 ($3,400.05 X 17% X .85542 less 4% for early retirement) Effective: March 5, 2022 C. Case No. 3825 Eileen Curley­Conley – Parks Years of Service: 7 Years, 7 Months Basis: Service Age: 58 Spouse: 55 Option A Average Final Compensation: $2,783.99 Monthly Pension Amount: $269.24 ($2,783.99 X 15.17% X .88541 less 28% for early retirement) Effective: May 27, 2022 D. Case No. 3826 Robert Farrell – Information Technology Years of Service: 16 Years, 5 Months Basis: Service Age: 70 Spouse: 66 Option A Average Final Compensation: $9,335.38 Monthly Pension Amount: $2,490.28 ($9,335.38 X 32.83% X .81254) Effective: June 10, 2022 E. Case No. 3827 Calvin Harkless – Airports Years of Service: 9 Years, 4 Months Basis: Service Age: 63 Spouse: 64 Option C Average Final Compensation: $6,676.19 Monthly Pension Amount: $1,074.89 ($6,676.19 X 18.67% X .93736 less 8% for early retirement) Effective: June 4, 2022 F. Case No. 3828 Antonio Perez­Torres – Utilities Years of Service: 11 Years, 6 Months Basis: Service Age: 66 Spouse: 64 Option C Average Final Compensation: $3,838.39 Monthly Pension Amount: $811.51 ($3,838.39 X 23% X .91921) Effective: June 2, 2022 G. Case No. 3829 Raymond Wells – General Services  Monthly Pension Amount: $811.51 ($3,838.39 X 23% X .91921) Effective: June 2, 2022 G. Case No. 3829 Raymond Wells – General Services Years of Service: 35 Years, 10 Months Basis: Service Age: 59 Spouse: 57 Option A Average Final Compensation: $4,981.09 Monthly Pension Amount: $3,159.30 ($4,981.09 X 71.67% X .88497) Effective: June 2, 2022 VII. RECEIVE report of death. APPROVE continuation of pension to spouse. A. Case No. 3784 Becca Field­Jessop – Died April 25, 2022 Monthly Pension Amount: $3,798.19 Option C Pension to cease April 30, 2022 B. Case No. 3784A Kevin Jessop – Widower of Becca Field­Jessop Monthly Pension Amount: $1,899.10 ($3,798.19 X 50%) Effective: May 1, 2022 C. Case No. 1831 Chester Wilkinson – Died April 9, 2022 Monthly Pension Amount: $1,380.81 Option A Pension to cease April 30, 2022 D. Case No. 1831A Susan Wilkinson – Widow of Chester Wilkinson Monthly Pension Amount: $1,380.81 ($1,380.81 X 100%) Effective: May 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. 3048 Joyce Scott – Died May 18, 2022 Monthly Pension Amount: $2,273.25 Option A – Pending Spouse Application Pension to cease May 31, 2022 B. Case No. 1939 Wilbert Wallace – Died May 10, 2022 Monthly Pension Amount: $1,171.23 Option C – Pending Spouse Application Pension to cease May 31, 2022 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1661A  Pension to cease May 31, 2022 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1661A Helen Nash – Died June 1, 2022 Monthly Pension Benefit: $928.20 No Beneficiary Pension to cease June 30, 2022 X. APPROVE the following applications of Vested Rights. A. Case No. 3830 Darryl Lawson – Planning Years of Service: 9 Years 6 Months Basis: Vested Rights Age: 62 Not Married Average Final Compensation: $5,384.60 Monthly Pension Benefit: $1,023.07 ($5,384.60 X 19%) Effective: Age 65 XI. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 1685 Gladys Montoya – Fire Years of Service: 13 Years Basis: Vested Rights Age: 65 Spouse: 63 Option A Average Final Compensation: $2,056.46 Monthly Pension Benefit: $457.58 ($2,056.46 X 26% X .88418) Lump Sum Elected: $30,000 Reduced Monthly Pension Benefit: $257.85 Effective; June 27, 2022 XII. RECEIVE report of death. Death of employee while in Active service. APPROVE pension to spouse. A. Case No. 3831 Rocky Gregory – Widower of Theresa Gregory who died March 6, 2022 while in Active Service Years of Service: 20 Years, 4 Months Basis: Death Not in the Line of Duty Age: 46 Spouse: 46 Average Final Compensation: $5,450.97 Monthly Pension Amount: $1,090.19 ($5,450.97 X 20%) Effective: March 7, 2022 XIII. INDIVIDUAL CONSIDERATION: A. OCERS budget for the period July 1, 2022 through June 30, 2022. B. Agreement between the Oklahoma City Employee Retirement System and The City of Oklahoma City regarding the City’s obligation to provide certain professional and nonprofessional services and office rental to the Oklahoma City  A. OCERS budget for the period July 1, 2022 through June 30, 2022. B. Agreement between the Oklahoma City Employee Retirement System and The City of Oklahoma City regarding the City’s obligation to provide certain professional and nonprofessional services and office rental to the Oklahoma City Employee Retirement System and for the Retirement System to provide certain professional services for the City, July 1, 2022 through June 30, 2023, $185,090.81. C. Administrative Services Agreement with The City of Oklahoma City to provide administration of the 457 Deferred Compensation Plans and the Money Purchase Plan & Trust No. 8751 and No. 7697, July 1, 2022 through June 30, 2023, revenue of $44,000. XIV. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XV. Comments from Board, Staff and Citizens. XVI. Adjournment.