Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA August 08, 2024 10:00 AM Paul Bronson, Chair Brent Bryant, Vice­Chair Board Members: 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 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 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, August 08, 2024 City Council Chamber 200 North Walker I. Call to Order. II. From the Chairman of the Board. A. Resolution of Appreciation for Ken Culver, Jr. for his dedicated service on the Oklahoma City Employee Retirement System Board of Trustees. III. APPROVE minutes of meeting of July 11, 2024. IV. CONSENT DOCKET: 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 08, 2024 City Council Chamber 200 North Walker I. Call to Order. II. From the Chairman of the Board. A. Resolution of Appreciation for Ken Culver, Jr. for his dedicated service on the Oklahoma City Employee Retirement System Board of Trustees. III. APPROVE minutes of meeting of July 11, 2024. IV. CONSENT DOCKET: A. Report of judgments purchased for month of July 2024 in the amount of $317,734.73. B. Naviet Securities class action settlement proceeds in the amount of $80.04. V. RATIFY APPROVALS: A. Payroll for the month of July 2024, in the amount of $4,154,650.47. 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. 3818 Dorothy Bates – Police Years of Service: 10 Years, 6 Months Basis: Service Age: 71 Not Married Average Final Compensation: From $3,553.02 To: $3,556.60 Monthly Pension Amount: From: $746.13 ($3,553.02 X 21%); or $479.92 with $30,000 Lump Sum Distribution To: $746.89 ($3,556.60 X 21%); or $480.68 with $30,000 Lump Sum Distribution Effective: March 31, 2022 2. Case No. 3833 Don Burnett – Utilities Years of Service: 33 Years, 6 Months Basis: Service Age: 68 Spouse: 64 No Option Average Final Compensation: From $4,576.58 To: $4,588.60 Monthly Pension Amount: From: $3,066.31 ($4,576.58 X 67%); or $2,818.32 with $30,000 Lump Sum Distribution To: $3,074.36 ($4,588.60 X 67%); or $2,826.37 with $30,000 Lump Sum Distribution Effective: July 30, 2022 3. Case No. 3834 Adrian Cobb Jr – Utilities  Distribution Effective: July 30, 2022 3. Case No. 3834 Adrian Cobb Jr – Utilities Years of Service: 40 Years, 0 Month Basis: Service Age: 62 Spouse: 59 Option C Average Final Compensation: From $4,408.01 To: $4,426.72 Monthly Pension Amount: From: $3,273.18 ($4,408.01 X 80% X .92819); or $3,067.57 with $30,000 Lump Sum Distribution To: $3,287.07 ($4,426.72 X 80% X .92819); or $3,081.46 with $30,000 Lump Sum Distribution Effective: July 15, 2022 4. Case No. 3825 Eileen Curley­Conley – Parks and Recreation Years of Service: 7 Years, 7 Months Basis: Service Age: 58 Spouse: 55 Option A Average Final Compensation: From $2,783.99 To: $2,793.64 Monthly Pension Amount: From: $269.24 ($2,783.99 X 15.17% less 28% for early retirement X .88541) To: $270.17 ($2,793.64 X 15.17% less 28% for early retirement X .88541) Effective: May 27, 2022 5. 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: From $3,787.71 To: $3,801.91 Monthly Pension Amount: From: $1,046.77 ($3,787.71 X 34% less 4% for early retirement X .84669) To: $1,050.69 ($3,801.91 X 34% less 4% for early retirement X .84669) Effective: August 2, 2022 6. Case No. 3811 Mark Eldridge – Airports Years of Service: 33 Years, 2 Months Basis: Service Age: 67 Not Married Average Final Compensation: From $5,258.90 To: $5,265.73 Monthly Pension Amount: From: $3,488.23 ($5,258.90 X 66.33%); or $3,245.46 with $30,000 Lump Sum Distribution To: $3,492.76 ($5,265.73 X 66.33%); or $3,249.99 with $30,000 Lump Sum Distribution Effective: April 2, 2022 7. Case No. 3875 Kenneth Hovey – Airports Years of Service: 8 Years, 10 Months Basis: Service Age: 60 Not Married  7. Case No. 3875 Kenneth Hovey – Airports Years of Service: 8 Years, 10 Months Basis: Service Age: 60 Not Married Average Final Compensation: From $3,777.42 To: $3,785.95 Monthly Pension Amount: From: $533.98 ($3,777.42 X 17.67% less 20% for early retirement) To: $535.18 ($3,785.95 X 17.67% less 20% for early retirement) Effective: July 26, 2022 8. Case No. 3805 Terrance Lowery – Utilities Years of Service: 25 Years, 0 Month Basis: Service Age: 61 Spouse: 64 Option A Average Final Compensation: From $4,443.44 To: $4,461.60 Monthly Pension Amount: From: $1,998.93 ($4,443.44 X 50% X .89972); or $1,802.71 with $30,000 Lump Sum Distribution To: $2,007.10 ($4,461.60 X 50% X .89972); or $1,810.88 with $30,000 Lump Sum Distribution Effective: March 5, 2022 9. Case No. 3846 Ben Massey – Airports Years of Service: 38 Years, 0 Months Basis: Service Age: 62 Spouse: 61 Option A Average Final Compensation: From $6,309.62 To: $6,305.04 Monthly Pension Amount: From: $4,200.69 ($6,309.62 X 76% X .876) To: $4,197.64 ($6,305.04 X 76% X .876) Effective: September 13, 2022 10. Case No. 3819 Sherman Norvelle – Public Works Years of Service: 38 Years, 2 Months Basis: Service Age: 66 Spouse: 62 Option A Average Final Compensation: From $6,032.65 To: $6,054.89 Monthly Pension Amount: From: $3,859.31 ($6,032.65 X 76.33% X .83812) To: $3,873.54 ($6,054.89 X 76.33% X .83812) Effective: May 13, 2022 11. Case No. 3846 Juan Phillips – Utilities Years of Service: 25 Years, 0 Months Basis: Service Age: 48 Not Married Average Final Compensation: From $4,498.57 To: $4,538.88 Monthly Pension Amount: From: $2,249.29 ($4,498.57 X 50%); or $2,060.49 with $30,000 Lump Sum Distribution To: $2,269.44 ($4,538.88 X 50%); or $2,080.64 with $30,000 Lump Sum Distribution  Average Final Compensation: From $4,498.57 To: $4,538.88 Monthly Pension Amount: From: $2,249.29 ($4,498.57 X 50%); or $2,060.49 with $30,000 Lump Sum Distribution To: $2,269.44 ($4,538.88 X 50%); or $2,080.64 with $30,000 Lump Sum Distribution Effective: September 21, 2022 12. Case No. 3840 Zack Porterfield – Public Works Years of Service: 15 Years, 6 Months Basis: Service Age: 65 Not Married Average Final Compensation: From $4,616.04 To: $4,624.49 Monthly Pension Amount: From: $1,430.97 ($4,616.04 X 31%) To: $1,433.59 ($4,624.49 X 31%) Effective: August 5, 2022 13. Case No. 3814 Ronella Richardson – Public Works Years of Service: 25 Years, 7 Months Basis: Service Age: 55 Not Married Average Final Compensation: From $6,873.14 To: $6,892.37 Monthly Pension Amount: From: $3,516.99 ($6,873.14 X 51.17%); or $3,315.38 with $30,000 Lump Sum Distribution To: $3,526.83 ($6,892.37 X 51.17%); or $3,325.22 with $30,000 Lump Sum Distribution Effective: April 1, 2022 14. Case No. 3847 Mark Scott – Utilities Years of Service: 25 Years, 0 Months Basis: Service Age: 63 Spouse: 61 Option A Average Final Compensation: From $5,175.11 To: $5,213.34 Monthly Pension Amount: From: $2,240.96 ($5,175.11 X 50% X .86605) To: $2,257.51 ($5,213.34 X 50% X .86605) Effective: September 16, 2022 15. Case No. 3838 Allan Webster – Airports Years of Service: 36 Years, 0 Months Basis: Service Age: 66 Not Married Average Final Compensation: From $4,643.88 To: $4,656.41 Monthly Pension Amount: From: $3,343.59 ($4,643.88 X 72%) To: $3,352.62 ($4,656.41 X 72%) Effective: July 30, 2022 16. Case No. 3800 Don Whitton – Zoo Years of Service: 46 Years, 4 Months Basis: Service Age: 69 Spouse: 64 Option B  16. Case No. 3800 Don Whitton – Zoo Years of Service: 46 Years, 4 Months Basis: Service Age: 69 Spouse: 64 Option B Average Final Compensation: From $4,425.25 To: $4,427.88 Monthly Pension Amount: From: $3,494.36 ($4,425.25 X 92.67% X .8521) To: $3,496.44 ($4,427.88 X 92.67% X .8521) Effective: February 4, 2022 VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 3996 Lacinda Black – Municipal Counselor Years of Service: 26 Years, 1 Month Basis: Service Age: 52 Spouse: 54 Option C Average Final Compensation: $7,147.00 Monthly Pension Amount: $3,581.94 ($7,147.00 X 52.17% X .96067); or $3,394.18 with $30,000 Lump Sum Distribution Effective: August 2, 2024 B. Case No. 3997 Mike Foree – Police Years of Service: 37 Years, 9 Months Basis: Service Age: 63 Spouse: 62 Option A Average Final Compensation: $6,433.76 Monthly Pension Amount: $4,232.62 ($6,433.76 X 75.5% X .87136); or $4,036.38 with $30,000 Lump Sum Distribution Effective: August 2, 2024 C. Case No. 3998 Lonnie Graham – Utilities Years of Service: 17 Years, 2 Months Basis: Service Age: 66 Spouse: 65 Option A Average Final Compensation: $4,879.97 Monthly Pension Amount: $1,435.35 ($4,879.97 X 34.33% X .85678); or $1,231.52 with $30,000 Lump Sum Distribution Effective: August 9, 2024 D. Case No. 3999 Kathryn Henderson – Police Years of Service: 17 Years, 7 Months Basis: Service Age: 60 Spouse: 72 No Option Average Final Compensation: $5,662.04 Monthly Pension Amount: $1,593.07 ($5,662.04 X 35.17% less 20% for early retirement) Effective: June 6, 2024  Basis: Service Age: 60 Spouse: 72 No Option Average Final Compensation: $5,662.04 Monthly Pension Amount: $1,593.07 ($5,662.04 X 35.17% less 20% for early retirement) Effective: June 6, 2024 E. Case No. 4000 Charles Jones – Utilities Years of Service: 25 Years, 1 Month Basis: Service Age: 59 Not Married Average Final Compensation: $5,618.54 Monthly Pension Amount: $2,818.82 ($5,618.54 X 50.17%); or $2,606.97 with $30,000 Lump Sum Distribution Effective: July 26, 2024 F. Case No. 4001 Troy Marcum – Utilities Years of Service: 35 Years, 6 Months Basis: Service Age: 65 Spouse: 63 Option B Average Final Compensation: $5,640.10 Monthly Pension Amount: $3,555.21 ($5,640.10 X 71% X .88781) Effective: August 30, 2024 G. Case No. 4002 Rick Wickenkamp – Development Services Years of Service: 25 Years, 0 Months Basis: Service Age: 65 Spouse: 63 Option A Average Final Compensation: $16,388.93 Monthly Pension Amount: $7,012.83 ($16,388.93 X 50% X .8558) Effective: August 2, 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. 2902 Timothy Blaney – Died July 17, 2024 Monthly Pension Amount: $1,038.15 Option C – Pending Spouse Application Retirement Date: January 4, 2013 Pension to Cease: July 31, 2024 B. Case No. 2805 Ronald Brandon – Died July 3, 2024 Monthly Pension Amount: $2,483.61 Option C – Pending Spouse Application Retirement Date: November 8, 2011 Pension to Cease: July 31, 2024 C. Case No. 2033 Nancy Heath – Died July 14, 2024 Monthly Pension Amount: $1,755.32  Retirement Date: November 8, 2011 Pension to Cease: July 31, 2024 C. Case No. 2033 Nancy Heath – Died July 14, 2024 Monthly Pension Amount: $1,755.32 No Option Retirement Date: October 12, 2001 Pension to Cease: July 31, 2024 D. Case No. 2154 Elvin Jones – Died July 11, 2024 Monthly Pension Amount: $4,690.80 No Option Retirement Date: July 8, 2003 Pension to Cease: July 31, 2024 E. Case No. 2558 Marilyn Penrod – Died July 25, 2024 Monthly Pension Amount: $2,964.86 No Option Retirement Date: January 3, 2009 Pension to Cease: July 31, 2024 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. F. Case No. 2482A Raymond March – Died July 18, 2024 Monthly Pension Amount: $1,541.94 No Beneficiary Pension to Cease: July 31, 2024 X. APPROVE the following applications of Vested Rights. A. Case No. 4003 Don Cosper – General Services Years of Service: 14 Years, 10 Months Basis: Vested Rights Age: 64 Spouse: 59 Average Final Compensation: $4,870.13 Monthly Pension Amount: $1,444.97 ($4,870.13 X 29.67%) Effective: Age 65 XI. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 4003 Don Cosper – General Services Years of Service: 14 Years, 10 Months Basis: Service Age: 65 Spouse: 59 No Option Average Final Compensation: $4,870.13 Monthly Pension Amount: $1,444.97 ($4,870.13 X 29.67%) Effective: August 17, 2024  Years of Service: 14 Years, 10 Months Basis: Service Age: 65 Spouse: 59 No Option Average Final Compensation: $4,870.13 Monthly Pension Amount: $1,444.97 ($4,870.13 X 29.67%) Effective: August 17, 2024 XII. INDIVIDUAL CONSIDERATION: A.1. Receive a presentation from Angela Jones or their representative concerning their application for a Disability In the Line of Duty Allowance as permitted under the Disability Allowance provisions of Section 40­106, et seq. of the Oklahoma City Municipal Code, 2020, as amended. AND/OR A.2. Enter into Executive Session with the Municipal Counselor to discuss said application of Disability In the Line of Duty as authorized by 25 O.S. (2023 Supp.) § 307 (B)(4) and (B)(7) because public disclosure of certain health related information that will be discussed with the Board would violate confidentiality requirements of state and federal law and to have confidential communications with legal counsel to discuss pending claim because disclosure would impair the ability to process the claim and conduct the investigation of the claim. AND/OR A.3. Consider for APPROVAL/DENIAL the application of Disability In The Line Of Duty for Angela Jones. B. Approve ERS pay plan retroactive to July 1, 2024. C. Approve sending Jeanna Jordan to the International Foundation of Employee Benefit Plans Annual Conference, November 10­13, 2024 in San Diego, California. XIII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. B. Quarterly Investment Report XIV. Comments from Board, Staff and Citizens. XV. Adjournment.