Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA August 11, 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 Richard Mahoney, Assistant 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, August 11, 2022 City Council Chamber 200 North Walker I. Call to Order. II. Small/SMID Growth Manager Presentations: A. Loomis, Sayles & Company, L.P. B. Silvercrest Asset Management Group LLC 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, August 11, 2022 City Council Chamber 200 North Walker I. Call to Order. II. Small/SMID Growth Manager Presentations: A. Loomis, Sayles & Company, L.P. B. Silvercrest Asset Management Group LLC III. SELECT Small/SMID Growth Manager(s). IV. APPROVE minutes of meeting of July 14, 2022. V. CONSENT DOCKET: A. Judgments for the month of July 2022, in the amount of $61,026.43. VI. RATIFY APPROVALS: A. Payroll for the month of July 2022, in the amount of $3,774,567.41. B. Registration fees totaling $3,885 for International Foundation of Employee Benefit Plans virtual training series on Public Sector 401, 403 and 457 Plans for the Municipal Counselor’s Office. C. Payment of claims to The City of Oklahoma City of $2.54 for June 2022 and $1.42 for July 2022 – Printshop – color copies chargeback. D. 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. 3726 Janeria Harris – Utilities Years of Service: 40 Years, 0 Months Basis: Service Age: 60 Not Married Average Final Compensation: From: $4,363.08 To: $4,395.35 Monthly Pension Amount: From: $3,490.46 ($4,363.08 X 80%) To: $3,516.28 (4,395.35 X 80%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $ 3,275.60 To: $3,301.42 Effective: April 3, 2021 2. Case No. 3765 Naman Hawkins – Utilities Years of Service: 41 Years, 1 Month Basis: Service Age: 62 Spouse: 56 Option C Average Final Compensation: From: $4,676.69 To: $4,684.69  2. Case No. 3765 Naman Hawkins – Utilities Years of Service: 41 Years, 1 Month Basis: Service Age: 62 Spouse: 56 Option C Average Final Compensation: From: $4,676.69 To: $4,684.69 Monthly Pension Amount: From: $3,534.68 ($4,676.69 X 82.17% X .91981) To: $3,540.73 ($4,684.69 X 82.17% X .91981) Lump Sum Elected: $30,000 Reduced Monthly Pension Amount: From: $3,330.92 To: $3,336.97 Effective: October 16, 2021 3. Case No. 2288 Dale Jarvis – Utilities Years of Service: 12 Years, 12 Months Basis: Service Age: 59 Spouse: 58 Option A Average Final Compensation: From: $2,572.10 To: $2,573.75 Monthly Pension Amount: From: $418.72 ($2,572.10 X 24.33% less 24% for early retirement X .88041) To: $418.99 ($2,573.75 X 24.33% less 24% for early retirement X .88041) Effective: June 17, 2005 4. Case No. 3708 Kevin McCreight – Public Works Years of Service: 35 Years, 11 Months Basis: Service Age 55 Not Married Average Final Compensation: From: $4,824.28 To: $4,857.64 Monthly Pension Amount: From: $3,465.28 ($4,857.64 X 71.83%) To: $3,489.24 ($4,857.64 X 71.83%) Effective: January 16, 2021 5. Case No. 3711 Linda Shepherd – Utilities Years of Service: 38 Years, 4 Months Basis: Service Age: 56 Not Married Average Final Compensation: From: $6,215.88 To: $6,217.04 Monthly Pension Amount: From: $4,765.72 ($6,215.88 X 76.67%) To: $4,766.60 ($6,217.04 X 76.67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $4,561.79 To: $4,562.67 Effective: January 9, 2021 VII. APPROVE claims docket. A. Claims to be approved. VIII. APPROVE the following applications for Service Retirement. A. Case No. 3839 Michael Cutshall – Public Works Years of Service: 17 Years, 0 Months Basis: Service VIII. APPROVE the following applications for Service Retirement. A. Case No. 3839 Michael Cutshall – Public Works Years of Service: 17 Years, 0 Months Basis: Service Age: 64 Spouse: 51 Option B Average Final Compensation: $3,787.71 Monthly Pension Amount: $1,046.77 ($3,787.71 X 34.00% X .84669 less 4% for early retirement) Effective: August 2, 2022 B. Case No. 3840 Zack Porterfield – Public Works Years of Service: 15 Years, 6 Months Basis: Service Age: 65 Not Married Average Final Compensation: $4,616.04 Monthly Pension Amount: $1,430.97 ($4,616.04 X 31.00%) Effective: August 5, 2022 C. Case No. 3841 Marion Zacharias – Airports Years of Service: 13 Years, 9 Months Basis: Service Age: 68 Spouse: 67 Option A Average Final Compensation: $3,987.48 Monthly Pension Amount: $928.26 ($3,987.48 X 27.50% X .84652) Effective: August 2, 2022 IX. RECEIVE report of death. APPROVE continuation of pension to spouse. A Case No. 3253 Eddie Windham – Died July 6, 2022 Monthly Pension Benefit: $559.49 Option A Pension to cease July 31, 2022 B Case No. 3253A Myra Windham – Widow of Eddie Windham Monthly Pension Amount: $559.49 ($559.49 X 100%) Effective: August 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. 2493 Rickey Frazier – Died March 21, 2022 Monthly Pension Amount: $2,577.69 No Option Pension to cease March 31, 2022 XI. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following.  No Option Pension to cease March 31, 2022 XI. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 3277A Cindy Kirkham – Died July 19, 2022 Monthly Pension Amount: $2,329.34 No Beneficiary Pension to cease July 31, 2022 XII. RECEIVE report of death. Death of employee while in Active service. APPROVE pension to spouse. A. Case No. 3842 John Kienzle – Widower of Robbie Kienzle who died June 20, 2022 while in Active Service Years of Service: 23 Years, 7 Months Basis: Death Not in the Line of Duty Age: 61 Spouse: 62 Average Final Compensation: $8,049.92 Monthly Pension Amount: $2,839.10 ($8,049.92 X 47.17% X .89011 less 16% for early retirement) Effective: June 21, 2022 XIII. APPROVE the following applications of Vested Rights. A. Case No. 3843 Stacy Tarpley – Planning Years of Service: 7 Years, 6 Months Basis: Vested Rights Age: 41 Not Married Average Final Compensation: $4,903.44 Monthly Pension Benefit: $735.52 ($4,903.44 X 15%) Effective: Age 65 XIV. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3501 Daniel Vallejo – Public Works Years of Service: 21 Years, 5 Months Basis: Vested Rights Age: 57 Not Married Average Final Compensation: $4,155.57 Monthly Pension Benefit: $1,210.28 ($4,155.57 X 42.83% less 32% for early retirement) Effective: August 21, 2022 XV. INDIVIDUAL CONSIDERATION: A. Enter into Executive Session on advice of the Municipal Counselor to receive confidential communications from its attorney concerning the case of In re Pro  Effective: August 21, 2022 XV. INDIVIDUAL CONSIDERATION: A. 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. XVI. RECEIVE Investment Consultant Report. A. Monthly Investment Report B. Quarterly Investment Report C. K2 Ascent Platform Review and Redemption Recommendation. XVII. Comments from Board, Staff and Citizens. XVIII. Adjournment.