Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA January 11, 2024 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 – 2nd Floor – City Clerk’s Conference Room 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 coordinator 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  Room 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 coordinator 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, January 11, 2024 City Clerk’s Conference Room 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 14, 2023. III. CONSENT DOCKET: A. Receive results of the Retiree election reelecting Karla Nickels, Retiree Representative, to serve the term January 1, 2024 through December 31, 2025. B. Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 and 2023. 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, January 11, 2024 City Clerk’s Conference Room 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 14, 2023. III. CONSENT DOCKET: A. Receive results of the Retiree election reelecting Karla Nickels, Retiree Representative, to serve the term January 1, 2024 through December 31, 2025. B. Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2022 and 2023. C. Report of judgments purchased for the month of December 2023, in the amount of $453,340.44. IV. RATIFY APPROVALS: A. Payroll for the month of December 2023, in the amount of $3,947,631.83. B. Payment of claim to The City of Oklahoma City – Print Shop in the amount of $1.11 for November 2023 Color Copies. C. Payment of claim to The City of Oklahoma City – Print Shop in the amount of $63.93 for November 2023 Postage Chargeback. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3951 Curtis Liggins – Planning Years of Service: 39 Years, 1 Month Basis: Service Age: 62 Spouse: 58 Option C Average Final Compensation: $8,589.71 Monthly Pension Amount: $6,213.47 ($8,589.71 X 78.17% X .92537) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $6,008.48 Effective Date: January 3, 2024 B. Case No. 3952 Ricardo Lopez – Utilities Years of Service: 20 Years, 0 Months Basis: Service Age: 84 Not Married Average Final Compensation: $4,939.93 Monthly Pension Amount: $1,975.97 ($4,939.93 X 40%) Effective Date: January 27, 2024  Years of Service: 20 Years, 0 Months Basis: Service Age: 84 Not Married Average Final Compensation: $4,939.93 Monthly Pension Amount: $1,975.97 ($4,939.93 X 40%) Effective Date: January 27, 2024 C. Case No. 3953 Stephen McPherson – Utilities Years of Service: 28 Years, 1 Month Basis: Service Age: 65 Spouse: 57 No Option Average Final Compensation: $7,466.27 Monthly Pension Amount: $4,193.80 ($7,466.27 X 56.17%) Effective Date: January 18, 2024 D. Case No. 3954 Deborah Pollock – Development Services Years of Service: 36 Years, 0 Months Basis: Service Age: 61 Not Married Average Final Compensation: $6,489.05 Monthly Pension Amount: $4,672.12 ($6,489.05 X 72%) Effective Date: January 12, 2024 VII. APPROVE continuation to spouse. A. Case No. 3450 Craig Bohn – Died December 6, 2023 Monthly Pension Amount: $3,152.20 Retirement Date: September 18, 2018 Option A Pension to cease: December 31, 2023 B. Case No. 3450A Jennifer Bohn – Widow of Craig Bohn Monthly Pension Amount: $3,152.20 ($3,152.20 X 100%) Effective Date: January 1, 2024 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. 1738 Eva Martinez – Died December 13, 2023 Monthly Pension Amount: $784.46 No Beneficiary Retirement Date: March 22, 1996 Pension to cease: December 31, 2023 B. Case No. 2419 Teri Robertson – Died December 10, 2023 Monthly Pension Amount: $401.61 No Beneficiary Retirement Date: May 10, 2011  B. Case No. 2419 Teri Robertson – Died December 10, 2023 Monthly Pension Amount: $401.61 No Beneficiary Retirement Date: May 10, 2011 Pension to cease: December 31, 2023 C. Case No. 2010 Curtis Williams – Died November 13, 2023 Monthly Pension Amount: $1,364.14 No Beneficiary Retirement Date: June 2, 2001 Pension to cease: November 30, 2023 (December 2023 payment stopped) IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1699A Ruth Brown – Died October 26, 2023 Monthly Pension Amount: $599.80 No Beneficiary Retirement Date: May 24, 1995 Pension to cease: October 31, 2023 (November 2023 payments returned) B. Case No. 1575A Margarete Peters – Died December 30, 2023 Monthly Pension Amount: $585.76 No Beneficiary Pension to cease December 31, 2023 C. Case No. 1591A Christenner Woolbright – Died December 22, 2023 Monthly Pension Amount: $369.95 No Beneficiary Retirement Date: June 12, 1992 Pension to cease: December 31, 2023 X. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No., 3291 Vickie Mathews – Zoo Years of Service: 9 Years, 1 Month Basis: Service Age: 65 Spouse: 58 Option A Average Final Compensation: $2,546.10 Monthly Pension Amount: $382.72 ($2,546.10 X 18.17% X .82726) Effective Date: January 1, 2024 XI. RECEIVE report of death. Death of employee while in Active service. APPROVE pension to spouse.  Monthly Pension Amount: $382.72 ($2,546.10 X 18.17% X .82726) Effective Date: January 1, 2024 XI. RECEIVE report of death. Death of employee while in Active service. APPROVE pension to spouse. A. Case No. 3955 Lisa Samuels – Widow of Kyle Samuels who died September 22, 2023 while in Active service. Years of Service: 12 Years, 11 Months Basis: Death Not In The Line Of Duty Age: 55 Spouse: 54 Option A Average Final Compensation: $6,960.86 Monthly Pension Amount: $976.35 ($6,960.86 X 25.83% less 40% for early retirement X .90504) Effective Date: September 23, 2023 XII. INDIVIDUAL CONSIDERATION: A. Interest rate to be applied to Employee Contributions for the period January 1, 2023 through December 31, 2023. B. Cost of living adjustment to be granted to eligible retirees effective January 1, 2024. C. Asset Allocation Presentation. XIII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.