Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA April 13, 2023 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Jacqueline Ames Brent Bryant Sri Jonnada Vacant 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, April 13, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of March 9, 2023. III. CONSENT DOCKET: A. Heath Insurance Innovations, Inc. class action settlement proceeds in the amount 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 13, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of March 9, 2023. III. CONSENT DOCKET: A. Heath Insurance Innovations, Inc. class action settlement proceeds in the amount of $81.58. B. Report of judgments purchased for the month of March 2023, in the amount of $285,708.03. IV. RATIFY APPROVALS: A. Payroll for the month of March 2023, in the amount of $3,873,231.48. B. Payment of claim to The City of Oklahoma City in the amount of $2,115.08 for February 2023 Postage Chargeback. C. The action of the Secretary and Administrator in modifying the application due to a change in the Average Final Compensation, Monthly Pension Amount and Effective Date. 1. Case No. 3702 John Adams – Airports Years of Service: 13 Years, 11 Months Basis: Service Age: 64 Not Married Average Final Compensation: From: $5,838.20 To: $5,867.90 Monthly Pension Amount: From: $1,559.78 ($5,838.20 X 27.83% less 4% for early retirement) To: $1,567.72 ($5,867.90 X 27.83% less 4% for early retirement) Effective: January 8, 2021 2. 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: From: $7,524.58 To: $7,526.81 Monthly Pension Amount: From: $3,173.12 ($7,524.58 X 42.17%) To: $3,174.06 ($7,526.81 X 42.17%) Effective: July 30, 2022 3. Case No. 3715 Lee Beaulac – Police Years of Service: 14 Years, 7 Months Basis: Service  Effective: July 30, 2022 3. Case No. 3715 Lee Beaulac – Police Years of Service: 14 Years, 7 Months Basis: Service Age: 63 Spouse: 59 No Option Average Final Compensation: From: $5,536.18 To: $5,536.76 Monthly Pension Amount: From: $1,485.71 ($5,536.18 X 29.17% less 8% for early retirement) To: $1,485.86 ($5,536.76 X 29.17% less 8% for early retirement) Effective: February 20, 2021 4. Case No. 3716 Tracey Bell – Information Technology Years of Service: 16 Years, 2 Months Basis: Service Age: 62 Not Married Average Final Compensation: From: $9,188.59 To: $9,197.85 Monthly Pension Amount: From: $2,614.19 ($9,188.59 X 32.33% less 12% for early retirement) To: $2,616.82 ($9,197.85 X 32.33% less 12% for early retirement) Effective: February 6, 2021 5. Case No. 3720 Terry Clark – Public Works Years of Service: 26 Years, 3 Months Basis: Service Age: 62 Spouse: 61 Option A Average Final Compensation: From: $4,431.41 To: $4.432.55 Monthly Pension Amount: From: $2,038.01 ($4,431.41 X 52.5% X .876) To: $2,038.53 ($4,432.55 X 52.5% X .876) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $1,843.95 To: $1,844.48 Effective: February 19, 2021 6. Case No. 3703 Marvin Cramer – Airports Years of Service: 20 Years, 2 Months Basis: Service Age: 67 Spouse: 61 Option C Average Final Compensation: From: $6,929.28 To: $6,924.93 Monthly Pension Amount: From: $2,517.05 ($6,929.28 X 40.33% X .90069) To: $2,515.47 ($6,924.93 X 40.33% X .90069) Effective: January 8, 2021 7. Case No. 2304 Tony Davis – Utilities Years of Service: 21 Years, 2 Months Basis: Service Age: 65 Spouse: 62 Option A Average Final Compensation: $3,929.49 Monthly Pension Amount: From: $1,384.07 ($3,929.49 X  Years of Service: 21 Years, 2 Months Basis: Service Age: 65 Spouse: 62 Option A Average Final Compensation: $3,929.49 Monthly Pension Amount: From: $1,384.07 ($3,929.49 X 42.33% X .8321) To: $1,413.70 ($3,929.49 X 42.33% X .84991) Effective: February 17, 2023 8. Case No. 3705 Leslie Dudney – Utilities Years of Service: 19 Years, 8 Months Basis: Service Age: 64 Not Married Average Final Compensation: From: $5,111.30 To: $5,095.38 Monthly Pension Amount: From: $1,929.86 ($5,111.30 X 39.33% less 4% for early retirement) To: $1,923.85 ($5,095.38 X 39.33% less 4% for early retirement) Effective: January 16, 2021 9. Case No. 3706 Jackie Jackson – Police Years of Service: 29 Years, 2 Months Basis: Service Age: 62 Not Married Average Final Compensation: From: $5,544.58 To: $5,544.45 Monthly Pension Amount: From: $3,234.15 ($5,544.58 X 58.33%) To: $3,234.08 (5,544.45 X 58.33%) Effective: January 22, 2021 10. Case No. 3718 Ray Jackson – Public Works Years of Service: 25 Years, 0 Months Basis: Service Age: 55 Spouse: 55 Option A Average Final Compensation: From: $5,409.89 To: $5,407.71 Monthly Pension Amount: From: $2,457.23 ($5,409.89 X 50% X .90842) To: $2,456.24 ($5,407.71 X 50% X .90842) Lump Sum Elected $30,000 Reduced Monthly Pension Amount From: $2,274.08 To: $2,273.09 Effective: January 9, 2021 11. Case No. 3707 Ronald Jones – Police Years of Service: 17 Years, 1 Month Basis: Service Age: 65 Spouse: 63 Option A Average Final Compensation: From: $6,668.59 To: $6,682.96 Monthly Pension Amount: From: $1,950.08 ($6,668.59 X 34.17% X .8558) To: $1,954.28 ($6,682.96 X 34.17% X .8558) Effective: January 29, 2021 12. Case No. 3721  34.17% X .8558) To: $1,954.28 ($6,682.96 X 34.17% X .8558) Effective: January 29, 2021 12. Case No. 3721 Janet Mansfield – Police Years of Service: 34 Years, 9 Months Basis: Service Age: 66 Not Married Average Final Compensation: From: $6,042.31 To: $6,044.67 Monthly Pension Amount: From: $4,199.41 ($6,042.31 X 69.5%) To: $4,201.05 ($6,044.67 X 69.5%) Effective: March 5, 2021 13. Case No. 3719 Hermona Martin – Utilities Years of Service: 25 Years, 0 Months Basis: Service Age: 47 Not Married Average Final Compensation: From: $5,405.72 To: $5,406.35 Monthly Pension Amount: From: $2,702.86 ($5,405.72 X 50%) To: $2,703.18 ($5,406.35 X 50%) Effective: February 2, 2021 14. Case No. 3710 Victoriano Parra – Utilities Years of Service: 27 Years, 1 Month Basis: Service Age: 67 Spouse: 63 Option A Average Final Compensation: From: $4,392.23 To: $4,392.21 Monthly Pension Amount: From: $1,979.51 ($4,392.23 X 54.17% X .83198) To: $1,979.50 ($4,392.21 X 54.17% X .83198) Effective: January 22, 2021 15. Case No. 3712 Kerry Simms – Airports Years of Service: 28 Years, 4 Months Basis: Service Age: 60 Spouse: 63 Option B Average Final Compensation: From: $5,143.80 To: $5,143.65 Monthly Pension Amount: From: $2,697.79 ($5,143.80 X 56.67% X .92549) To: $2,697.72 ($5,143.65 X 56.67% X .92549) Effective: January 15, 2021 16. Case No. 3713 Thomas Torrance – Public Works Years of Service: 26 Years, 7 Months Basis: Service Age: 60 Not Married Average Final Compensation: From: $4,908.07 To: $4,914.95 Monthly Pension Amount: From: $2,609.62 ($4,908.07 X 53.17%) To: $2,613.28 ($4,914.95 X 53.17%)  Basis: Service Age: 60 Not Married Average Final Compensation: From: $4,908.07 To: $4,914.95 Monthly Pension Amount: From: $2,609.62 ($4,908.07 X 53.17%) To: $2,613.28 ($4,914.95 X 53.17%) Effective: January 1, 2021 17. Case No. 3601 Victor Washington – Utilities Years of Service: 37 Years, 11 Months Basis: Service Age: 57 Spouse: 54 No Option Average Final Compensation: From: $4,419.59 To: $4,436.35 Monthly Pension Amount: From: $3,351.38 ($4,419.59 X 75.83%) To: $3,364.08 ($4.436.35 X 75.83%) Effective: From: January 17, 2020 To: January 18, 2020 18. Case No. 3700 Wendell Webb – Utilities Years of Service: 28 Years, 2 Months Basis: Service Age: 62 Not Married Average Final Compensation: From: $5,697.77 To: $5,726.90 Monthly Pension Amount: From: $3,209.55 ($5,697.77 X 56.33%) To: $3,225.96 ($5.726.90 X 56.33%) Effective: December 11, 2020 19. Case No. 3642 John Wise – Public Works Years of Service: 42 Years, 2 Months Basis: Service Age: 66 Not Married Average Final Compensation: From: $3,798.96 To: $3,800.53 Monthly Pension Amount: From: $3,203.66 ($3,798.96 X 84.33%) To: $3,204.99 ($3,800.53 X 84.33%) Effective: From: May 2, 2020 To: May 5, 2020 20. Case No. 3643 John Zondlo – Police Years of Service: 29 Years, 5 Months Basis: Service Age: 66 Spouse: 64 Option C Average Final Compensation: From: $5,511.95 To: $5,540.72 Monthly Pension Amount: From: $2,984.14 ($5,511.95 X 58.83% X .92027) To: $2,999.72 ($5,540.72 X 58.83% X .92027) Lump Sum Elected $30,000 Reduced Monthly Pension Amount From: $2,775.41 To: $2,790.99 Effective: May 8, 2020 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3894 Antone Bridgett – General Services Years of Service: 34 Years, 5 Months Basis: Service Age: 69 Spouse: 55 Option C Average Final Compensation: $5,222.82 Monthly Pension Amount: $3,094.32 ($5,222.82 X 68.83% X .86076) Effective: April 7, 2023 B. Case No. 3895 Kenneth Buck – General Services Years of Service: 38 Years, 0 Months Basis: Service Age: 65 Not Married Average Final Compensation: $5,222.82 Monthly Pension Amount: $3,969.34 ($5,222.82 X 76%) Effective: April 7, 2023 C. Case No. 3896 Billy Powell – Public Works Years of Service: 26 Years, 4 Months Basis: Service Age: 57 Spouse: 45 No Option Average Final Compensation: $4,912.91 Monthly Pension Amount: $2,587.63 ($4,912.91 X 52.67%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,381.23 Effective: March 4, 2023 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 2015 Zell Anderson – Died March 2, 2023 Monthly Penstion Amount: $3,160.15 Option C Pension to cease March 31, 2023 B. Case No. 2015A Patricia Anderson – Widow of Zell Anderson Monthly Pension Amount: $1,580.08 (50% X $3,160.15) Effective: April 1, 2023 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. 1948 Jimmie Lundy – Died March 1, 2023 Monthly Pension Amount: $532.29 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. 1948 Jimmie Lundy – Died March 1, 2023 Monthly Pension Amount: $532.29 No Beneficiary Pension to cease March 31, 2023 B. Case No. 2289 Winfred Newcom – Died March 6, 2023 Monthly Pension Amount: $3,249.93 No Beneficiary Pension to cease March 31, 2023 IX. INDIVIDUAL CONSIDERATION: A. Resolution authorizing the Chair or designee to sign Reporting Agent Authorization form allowing Automatic Data Processing, Inc. (ADP) to file tax information with the Internal Revenue Service on behalf of the Oklahoma City Employee Retirement System. X. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XI. Comments from Board, Staff and Citizens. XII. Adjournment.