Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA July 11, 2024 10:00 AM Paul Bronson, Chair Vacant, Vice­Chair Board Members: Brent Bryant Bruce Davis Doug Dowler Sri Jonnada Aimee Maddera Karla Nickels JC Reiss Randy Thurman Matt Weller Vacancy Amy K. Simpson, Ex­officio Matthew Boggs, Ex­officio Jeanna Jordan, 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 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  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 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, July 11, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of June 13, 2024. III. PRESENTATION from Investment Manager. A. Brandywine IV. CONSENT DOCKET: A. Report of judgments purchased for month of June 2024 in the amount of 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 11, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of June 13, 2024. III. PRESENTATION from Investment Manager. A. Brandywine IV. CONSENT DOCKET: A. Report of judgments purchased for month of June 2024 in the amount of $449,738.77. B. Phillips 66 Company class action settlement proceeds in the amount of $222.58. C. Covetrus Securities Litigation QSF class action settlement proceeds in the amount of $3,234.99. V. RATIFY APPROVALS: A. Payroll for the month of June 2024, in the amount of $4,050,267.72. B. 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. 3795 Jimmie Dornan – Development Services Years of Service: 24 Years, 7 Months Basis: Service Age: 68 Spouse: 58 Option A Average Final Compensation: From $6,817.11 To: $6,887.09 Monthly Pension Amount: From: $2,639.21 ($6,817.11 X 49.17% X .78736) To: $2,666.30 ($6,887.09 X 49.17 X .78736) Effective: February 04, 2022 2. Case No. 3796 Calvin Dugan – Utilities Years of Service: 39 Years, 0 Months Basis: Service Age: 65 Spouse: 67 Option A Average Final Compensation: From $6,615.35 To: $6,693.26 Monthly Pension Amount: From: $4,539.69 ($6,615.35 X 78% X .87979) To: $4,593.15 ($6,693.26 X 78% X .87979) Effective: February 23, 2022 3. Case No. 3799 Robert Tener – Development Services Years of Service: 40 Years, 8 Months Basis: Service  Effective: February 23, 2022 3. Case No. 3799 Robert Tener – Development Services Years of Service: 40 Years, 8 Months Basis: Service Age: 64 Spouse: 64 Option A Average Final Compensation: From $15,090.98 To: $15,174.13 Monthly Pension Amount: From: $10,705.92 ($15,090.98 X 81.33% X .87228) To: $10,764.91 ($15,174.13 X 81.33% X .87228) Effective: February 04, 2022 VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 3986 Kaye Burlison – Public Works Years of Service: 12 Years, 1 Month Basis: Service Age: 66 Spouse: 69 Option A Average Final Compensation: $9,973.00 Monthly Pension Amount: $2,126.54 ($9,973.00 X 24.17% X .88221) Effective: July 6, 2024 B. Case No. 3987 Sharhonda Burton – Finance Years of Service: 30 Years, 2 Months Basis: Service Age: 58 Not Married Average Final Compensation: $6,153.83 Monthly Pension Amount: $3,712.61 ($6,153.83 X 60.33%); or $3,503.58 with $30,000 Lump Sum Distribution Effective: June 29, 2024 C. Case No. 3988 Ronnie Difuntorum – Golf Years of Service: 6 Years, 3 Months Basis: Service Age: 66 Not Married Average Final Compensation: $3,196.86 Monthly Pension Amount: $399.61 ($3,196.86 X 12.5%); or $161.70 with $30,000 Lump Sum Distribution Effective: May 24, 2024 D. Case No. 3989 Daniel Jack – Finance Years of Service: 15 Years, 3 Months Basis: Service Age: 60 Spouse: 61 Option A Average Final Compensation: $5,004.88 Monthly Pension Amount: $1,091.71 ($5,004.88 X 30.5% less 20% for early retirement X .89397)  Years of Service: 15 Years, 3 Months Basis: Service Age: 60 Spouse: 61 Option A Average Final Compensation: $5,004.88 Monthly Pension Amount: $1,091.71 ($5,004.88 X 30.5% less 20% for early retirement X .89397) Effective: May 24, 2024 E. Case No. 3990 Jose Salgado – Utilities Years of Service: 20 Years, 11 Months Basis: Service Age: 68 Spouse: 62 Option B Average Final Compensation: $5,858.82 Monthly Pension Amount: $2,088.74 ($5,858.82 X 41.83% X .85229); or $1,877.38 with $30,000 Lump Sum Distribution Effective: July 6, 2024 F. Case No. 3991 Floyd Sossamon – Utilities Years of Service: 33 Years, 4 Months Basis: Service Age: 62 Spouse: 62 Option A Average Final Compensation: $4,333.02 Monthly Pension Amount: $2,545.22 ($4,333.02 X 66.67% X .88106); or $2,350.05 with $30,000 Lump Sum Distribution Effective: July 2, 2024 G. Case No. 3992 Kenneth Stier – Public Works Years of Service: 13 Years, 3 Months Basis: Service Age: 74 Spouse: 74 Option A Average Final Compensation: $6,227.23 Monthly Pension Amount: $1,357.62 ($6,227.23 X 26.5% X .82269); or $1,119.69 with $30,000 Lump Sum Distribution Effective: July 19, 2024 VIII. APPROVE continuation of pension to spouse. A. Case No. 3633 Everett Doyle – Died May 9, 2024 Monthly Pension Amount: $575.52 Option A Retirement Date: May 22, 2020 Pension to cease: May 31, 2024 B. Case No. 3633A Dorothy Doyle – Widow of Everett Doyle Monthly Pension Amount: $575.52 ($575.52 X 100%) Effective Date: June 1, 2024 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.  Monthly Pension Amount: $575.52 ($575.52 X 100%) Effective Date: June 1, 2024 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. 2188 William Crisswell – Died June 10, 2024 Monthly Pension Amount: $2,607.45 No Option Retirement Date: January 24, 2004 Pension to cease: June 30, 2024 B. Case No. 3200 Marcus Jones – Died June 19, 2024 Monthly Pension Amount: $3,890.52 No Option Retirement Date: May 20, 2016 Pension to cease: June 30, 2024 C. Case No. 2100A Clifford Moser – Died June 30, 2024 Monthly Pension Amount: $549.05 Option C – Pending Spouse Application Retirement Date: July 9, 2002 Pension to cease: June 30, 2024 D. Case No. 1682 Wanda Mosier – Died May 2, 2024 Monthly Pension Amount: $2,742.85 No Option Retirement Date: March 17, 1995 Pension to cease: May 31, 2024 (June 2024 – payment stopped) E. Case No. 3792 Lynna Thompson – Died June 9, 2024 Monthly Pension Amount: $2,122.35 No Option Retirement Date: January 7, 2022 Pension to cease: June 30, 2024 X. APPROVE the following applications of Vested Rights. A. Case No. 3993 Angela Pierce – Finance Years of Service: 5 Years, 1 Month Basis: Vested Rights Age: 41 Spouse: 44 Average Final Compensation: $10,414.77 Monthly Pension Amount: $1,059.18 ($10,414.77 X 10.17%) Effective: Age 65 B. Case No. 3994 Regina Story – OCERS  Monthly Pension Amount: $1,059.18 ($10,414.77 X 10.17%) Effective: Age 65 B. Case No. 3994 Regina Story – OCERS Years of Service: 12 Years, 9 Months Basis: Vested Rights Age: 50 Spouse: 51 Average Final Compensation: $7,852.35 Monthly Pension Amount: $2,002.35 ($7,852.35 X 25.5%) Effective: Age 65 C. Case No. 3995 Barbara Willhite – Finance Years of Service: 5 Years, 11 Months Basis: Vested Rights Age: 63 Spouse: 64 Average Final Compensation: $4,997.08 Monthly Pension Amount: $591.15 ($4,997.08 X 11.83%) Effective: Age 65 XI. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XII. ELECT a Vice Chair for the remaining term July 11, 2024 to December 31, 2024 XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.