Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA December 14, 2023 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Brent Bryant Bruce Davis Doug Dowler Sri Jonnada 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 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 agenda at 297­2408 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 agenda 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  200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION 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 agenda at 297­2408 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 agenda 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, December 14, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of November 9, 2023. III. CONSENT DOCKET: A. Report of judgments purchased for the month of November 2023, in the amount of $161,522.33. B. Approve sending attendee to the Government Finance Officers’ Association (GFOA) Committee on Retirement and Benefits Administration meeting, January 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, December 14, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of November 9, 2023. III. CONSENT DOCKET: A. Report of judgments purchased for the month of November 2023, in the amount of $161,522.33. B. Approve sending attendee to the Government Finance Officers’ Association (GFOA) Committee on Retirement and Benefits Administration meeting, January 22 – 23, 2024, in Washington, D.C. C. Willis Towers Watson PLC class action settlement proceeds in the amount of $24.38. D. Dell Securities class action settlement proceeds in the amount of $10.99. E. Pivotal Software, Inc. class action settlement proceeds in the amount of $135.86. F. ProPetro Holding Corp. class action settlement proceeds in the amount of $3,741.25. IV. RATIFY APPROVALS: A. Payroll for the month of November 2023, in the amount of $3,963,471.08. B. Payment of claim to The City of Oklahoma City – Print Shop in the amount of $0.16 for October 2023 Color Copies. C. Payment of claim to The City of Oklahoma City – Print Shop in the amount of $82.88 for October 2023 Postage Chargeback. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3946 Leatta Burke – Utilities Years of Service: 13 Years, 0 Months Basis: Service Age: 67 Spouse: 62 Option C Average Final Compensation: $4,549.76 Monthly Pension Amount: $1,069.92 ($4,549.76 X 26% X .90446) Effective Date: December 29, 2023 B. Case No. 3947 Carol Hargraves – Police Years of Service: 13 Years, 8 Months Basis: Service  Effective Date: December 29, 2023 B. Case No. 3947 Carol Hargraves – Police Years of Service: 13 Years, 8 Months Basis: Service Age: 69 Not Married Average Final Compensation: $4,254.10 Monthly Pension Amount: $1,162.65 ($4,254.10 X 27.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $909.04 Effective Date: December 1, 2023 C. Case No. 3948 James Hulsey – Development Services Years of Service: 10 Years, 7 Months Basis: Service Age: 66 Spouse: 65 Option A Average Final Compensation: $5,128.91 Monthly Pension Amount: $930.28 ($5,128.91 X 21.17% X .85678) Effective Date: December 30, 2023 D. Case No. 3949 Brad Lock – Zoo Years of Service: 5 Years, 9 Months Basis: Service Age: 65 Spouse: 60 Option A Average Final Compensation: $5,911.53 Monthly Pension Amount: $569.96 ($5,911.53 X 11.5% X .83838) Effective Date: December 15, 2023 E. Case No. 3950 Gerald Krausz – Zoo Years of Service: 40 Years, 8 Months Basis: Service Age: 65 Spouse: 59 No Option Average Final Compensation: $4,533.41 Monthly Pension Amount: $3,687.02 ($4,533.41 X 81.33%) Effective Date: December 29, 2023 VII. APPROVE continuation to spouse. A. Case No. 1959 Wayne Leach – Died October 30, 2023 Monthly Pension Amount: $619.79 Option A Pension to cease: October 31, 2023 B. Case No. 1959A Freda Leach – Widow of Wayne Leach Monthly Pension Amount: $619.79 ($619.79 X 100%) Effective Date: November 1, 2023 C. Case No. 3521 Kevin Mysinger – Died October 6, 2023 Monthly Pension Amount: $2,599.93  Monthly Pension Amount: $619.79 ($619.79 X 100%) Effective Date: November 1, 2023 C. Case No. 3521 Kevin Mysinger – Died October 6, 2023 Monthly Pension Amount: $2,599.93 Option A Pension to cease October 31, 2023 D. Case No. 3521A Diana Mysinger – Widow of Kevin Mysinger Monthly Pension Amount: $2,599.93 ($2,599.93 X 100%) Effective Date: November 1, 2023 E. Case No. 2533 Michael Ray – Died October 24, 2023 Monthly Pension Amount: $1,752.62 Option B Pension to cease October 31, 2023 F. Case No. 2533A Cynthia Ray – Widow of Michael Ray Monthly Pension Amount: $1,314.47 ($1,752.62 X 75%) Effective: November 1, 2023 G. Case No. 804 Robert Stavinoha – Died October 29, 2023 Monthly Pension Amount: $331.21 Option A Pension to cease: October 31, 2023 H. Case No. 804A Rosa Stavinoha – Widow of Robert Stavinoha Monthly Pension Amount: $331.21 ($331.21 X 100%) Effective Date: November 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. 3450 Craig Bohn – Died December 6, 2023 Monthly Pension Amount: $3,152.20 Retirement Date: September 18, 2018 Option A – Pending Spouse Application Pension to cease: December 31, 2023 B. Case No. 2272 Leonard Edd – Died January 23, 2023 Monthly Pension Amount: $3,134.31 Retirement Date: July 1, 2004 No Beneficiary Pension to cease: January 31, 2023 (Payments Feb 2023 – current stopped) C. Case No. 1758  Retirement Date: July 1, 2004 No Beneficiary Pension to cease: January 31, 2023 (Payments Feb 2023 – current stopped) C. Case No. 1758 Raymond Jack – Died April 2022 (presumed) Monthly Pension Amount: $1,198.03 Retirement Date: March 27, 2010 No Beneficiary Pension to cease: April 30, 2022 (Payments May 2022 ­ current stopped) D. Case No. 2408 Timothy Owen – Died November 6, 2023 Monthly Pension Amount: $2,920.94 Retirement Date: January 12, 2007 No Beneficiary Pension to cease: November 30, 2023 E. Case No. 1977 Andrew Pierce – Died November 5, 2023 Monthly Pension Amount: $1,655.95 Retirement Date: March 2, 2001 No Beneficiary Pension to cease November 30, 2023 F. Case No. 3278 James Roys – Died November 13, 2023 Monthly Pension Amount: $2,221.18 Retirement Date: November 17, 2022 No Beneficiary Pension to cease: November 30, 2023 G. Case No. 2628 Deanna Sinopoli – Died November 26, 2023 Monthly Pension Amount: $1,971.73 Retirement Date: October 14, 2009 No Beneficiary Pension to cease November 30, 2023 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2050A Billie Franklin – Died September 10, 2023 Monthly Pension Amount: $1,260.10 No Beneficiary Pension to cease September 30, 2023 (October and November 2023 payments recalled) B. Case No. 770A Donna Kerr – Died November 13, 2023 Monthly Pension Amount: $712.37 No Beneficiary  (October and November 2023 payments recalled) B. Case No. 770A Donna Kerr – Died November 13, 2023 Monthly Pension Amount: $712.37 No Beneficiary Pension to cease November 30, 2023 C. Case No. 1959A Freda Leach – Died November 19, 2023 Monthly Pension Amount: $619.79 No Beneficiary Pension to cease: November 30, 2023 X. INDIVIDUAL CONSIDERATION: A. Amendment No. Five with Davis Graham & Stubbs LLP for professional legal services, January 1, 2024 through December 31, 2024, estimated cost of $35,000 per year. B. Contract for medical examinations and evaluations of applicants for disability retirements with Independent Medical Examinations, LLC, January 1, 2024 through December 31, 2025. XI. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XII. ELECT a Chair for the term January 1, 2024 to December 31, 2024. XIII. ELECT a Vice Chair for the term January 1, 2024 to December 31, 2024. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.