Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA July 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 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, July 14, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of June 9, 2022. III. CONSENT DOCKET: A. Dell, Inc. class action settlement proceeds in the amount of $1,048.21. 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, July 14, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of June 9, 2022. III. CONSENT DOCKET: A. Dell, Inc. class action settlement proceeds in the amount of $1,048.21. B. Equifax, Inc. class action settlement proceeds in the amount of $272.85. C. Health Insurance Innovations, Inc. class action settlement proceeds in the amount of $10,360.14. D. Inovalon Holdings, Inc. class action settlement proceeds in the amount of $34.03. E. Tableau Software, Inc. class action settlement proceeds in the amount of $1,805.11. F. Towers Watson & Co. class action settlement proceeds in the amount of $97.24. G. Trinity Industries, Inc. class action settlement proceeds in the amount of $426.98. H. Willis Towers Watson class action settlement proceeds in the amount of $361.86. I. Report of judgments purchased for the month of June 2022, in the amount of $1,764,362.28. J. Annual Actuarial Valuation Report as of December 31, 2021. IV. RATIFY APPROVALS: A. Payroll for the month of June 2022, in the amount of $3,720,072.43. B. Payment of claim to The City of Oklahoma City of $52.30 for May 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. 3480 David Reynolds – Utilities Years of Service: 8 Years, 1 Month Basis: Service Age: 75 Spouse: 69 No Option Average Final Compensation: From: $4,612.87 To: $4,658.59 Monthly Pension Amount: From: $745.90 ($4,612.87 X 16.17%) To: $753.29 ($4,658.59 X 16.17%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From $441.49 To: $448.88 Effective: December 29, 2018 2. Case No. 3723 Bradford Wolf – Utilities Years of Service: 25 Years, 0 Months Basis: Service  Effective: December 29, 2018 2. Case No. 3723 Bradford Wolf – Utilities Years of Service: 25 Years, 0 Months Basis: Service Age: 60 Not Married Average Final Compensation: From: $4,800.19 To: $4,801.03 Monthly Pension Amount: From: $2,400.10 ($4,800.19 X 50%) To: $2,400.52 ($4,801.03 X 50%) Effective: January 30, 2021 V. APPROVE claims docket. A. Claims to be approved VI. APPROVE the following applications for Service Retirement. A. Case No. 3832 Nita Alexander – Municipal Counselor’s Office Years of Service: 21 Years, 1 Month Basis: Service Age: 65 Not Married Average Final Compensation: $7,524.58 Monthly Pension Amount $3,173.12 ($7,524.58 X 42.17%) Effective: July 30, 2022 B. Case No. 3833 Don Burnett – Utilities Years of Service: 33 Years, 6 Months Basis: Service Age: 68 Spouse: 64 No Option Average Final Compensation: $4,576.58 Monthly Pension Amount: $3,066.31 ($4,576.58 X 67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,818.32 Effective: July 30, 2022 C. Case No. 3834 Adrian Cobb, Jr. – Utilities Years of Service: 40 Years, 0 Months Basis: Service Age: 62 Spouse: 59 Option C Average Final Compensation: $4,408.01 Monthly Pension Amount: $3,273.18 ($4,408.01 X 80% X .92819) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $3,067.57 Effective: July 15, 2022 D. Case No. 3835 Susan Crilly – Police Years of Service: 10 Years, 0 Months Basis: Service Age: 70 Not Married Average Final Compensation: $3,461.28 Monthly Pension Amount: $692.26 ($3,461.28 X 20%) Effective: July 22, 2022  Years of Service: 10 Years, 0 Months Basis: Service Age: 70 Not Married Average Final Compensation: $3,461.28 Monthly Pension Amount: $692.26 ($3,461.28 X 20%) Effective: July 22, 2022 E. Case No. 3836 Linda McCormick – Municipal Counselor’s Office Years of Service: 40 Years, 0 Months Basis: Service Age: 69 Not Married Average Final Compensation: $7,292.36 Monthly Pension Amount: $5,833.89 ($7,292.36 X 80%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $5,580.28 Effective: July 8, 2022 F. Case No. 3837 Todd Reese – Parks Years of Service: 6 Years, 7 Months Basis: Service Age: 65 Spouse: 64 Option A Average Final Compensation: $9,839.13 Monthly Pension Amount: $1,116.66 ($9,839.13 X 13.17% X .86175) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $915.55 Effective: July 9, 2022 G. Case No. 3838 Allan Webster – Airports Years of Service: 36 Years, 0 Months Basis: Service Age: 66 Not Married Average Final Compensation: $4,643.88 Monthly Pension Amount: $3,343.59 ($4,643.88 X 72%) Effective: July 30, 2022 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 2976 Garry Yockey – Died June 20, 2022 Monthly Pension Amount: $1,790.12 Option B Pension to cease June 30, 2022 B. Case No. 2976A Rose Mary Yockey – Widow of Garry Yockey Monthly Pension Amount: $1,342.59 (75% of $1,790.12) Effective: July 1, 2022 VIII. RECEIVE report of death. APPROVE continuation of pension to spouse. A. Case No. 3048 Joyce Scott – Died May 18, 2022 Monthly Pension Amount: $2,273.25 VIII. RECEIVE report of death. APPROVE continuation of pension to spouse. A. Case No. 3048 Joyce Scott – Died May 18, 2022 Monthly Pension Amount: $2,273.25 Option A Pension to cease May 31, 2022 B. Case No. 3048A John Scott – Widower of Joyce Scott Monthly Pension Amount: $2,273.25 ($2,273.25 X 100%) Effective: June 1, 2022 IX. 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. 2051 Ruthie Hooker – Died June 5, 2022 Monthly Pension Amount: $2,325.80 No Option Pension to cease June 30, 2022 B. Case No. 2596 Leon Johnson – Died June 27, 2022 Monthly Pension Amount: $2,035.46 Option C – Pending Spouse Application Pension to cease June 30, 2022 C. Case No. 1365 Joe Miller – Died July 1, 2022 Monthly Pension Amount: $1,286.39 Option B – Spouse Predeceased Pension to cease July 31, 2022 D. Case No. 3253 Eddie Windham – Died July 6, 2022 Monthly Pension Benefit: $559.49 Option A – Pending Spouse Application Pension to cease July 31, 2022 E. Case No. 3723 Bradford Wolf – Died June 28, 2022 Monthly Pension Amount: $2,400.52 No Option Pension to cease June 30, 2022 X. RATIFY approval of request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3830 Darryl Lawson – Planning Years of Service: 9 Years, 6 Months Basis: Vested Rights Age: 62 Not Married  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: $900.30 ($5,384.60 X 19% less 12% for early retirement) Effective: May 11, 2022 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. 3400 Jeremy Lemons – Utilities Years of Service: 6 Years, 3 Months Basis: Vested Rights Age: 36 Not Married Average Final Compensation: $3,519.50 Monthly Pension Amount: $439.94 ($3,519.50 X 12.5%) at age 65 Employee Contribution Amount: $14,743.47 XII. INDIVIDUAL CONSIDERATION: A. Receive Monthly Investment Report. B. Small/Mid Cap Growth Portfolio Review and Discussion. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.