Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA December 12, 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, December 12, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of November 14, 2024 III. CONSENT DOCKET: A. Report of purchasing card transactions for the month of November 2024 in the amount of $340.47. B. Report of judgments purchased for month of November 2024 in the amount of $772,921.25. 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 12, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of November 14, 2024 III. CONSENT DOCKET: A. Report of purchasing card transactions for the month of November 2024 in the amount of $340.47. B. Report of judgments purchased for month of November 2024 in the amount of $772,921.25. C. Travel expense reimbursements for the month of November 2024 in the amount of $236.43. D. The Realty Associates tax appeal distribution in the amount of $1,536.00. E. SeaWorld Entertainment class action settlement proceeds in the amount of $348.66. F. Wells Fargo class action settlement proceeds in the amount of $6,992.43. G. Orbital ATK class action settlement proceeds in the amount of $17.00 and $135.87. H. Earnest Partners commission recapture proceeds for October 2024 in the amount of $2,233.38. I. WageWorks, Inc class action settlement proceeds in the amount of $26.34. J. Harborview MBS class action settlement proceeds in the amount of $35.83. IV. RATIFY APPROVALS: A. Payroll for the month of November 2024 in the amount of $4,041,235.85. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 4023 Peggy Bates – Fire Years of Service: 32 Years, 4 Months Basis: Service Age: 65 Spouse: 70 No Option Average Final Compensation: $6,230.84 Monthly Pension Amount: $4,029.48 ($6,230.84 X 64.67%) Effective: December 20, 2024 B. Case No. 4024 Jonathan Gary – Development Services Years of Service: 25 Years, 3 Months Basis: Service  Effective: December 20, 2024 B. Case No. 4024 Jonathan Gary – Development Services Years of Service: 25 Years, 3 Months Basis: Service Age: 46 Spouse: 47 Option A Average Final Compensation: $10,539.93 Monthly Pension Amount: $4,994.84 ($10,539.93 X 50.5% X .93841); or $4,820.26 with $30,000 Lump Sum Distribution Effective: December 6, 2024 C. Case No. 4025 Mike Johnston – Public Works Years of Service: 36 Years, 6 Months Basis: Service Age: 65 Spouse: 60 No Option Average Final Compensation: $5,400.54 Monthly Pension Amount: $3,942.39 ($5,400.54 X 73%) Effective: December 20, 2024 D. Case No. 4026 Linda Rowe – Parks and Recreation Years of Service: 25 Years, 0 Months Basis: Service Age: 56 Spouse: 52 No Option Average Final Compensation: $4,764.31 Monthly Pension Amount: $2,382.16 ($4,764.31 X 50%); or $2,178.23 with $30,000 Lump Sum Distribution Effective: December 6, 2024 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 3171 Dale Cox – Died November 15, 2024 Monthly Pension Amount: $588.06 Option A Retirement Date: March 11, 2016 Pension to Cease: November 30, 2024 B. Case No. 3171A Lynette Cox – Widow of Dale Cox Monthly Pension Amount: $588.06 ($588.06 X 100%) Option A Effective: December 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. 3904 John Cravens – Died November 9, 2024 Monthly Pension Amount: $2,317.22 Option B – Pending Spousal Application Retirement Date: June 1, 2023  A. Case No. 3904 John Cravens – Died November 9, 2024 Monthly Pension Amount: $2,317.22 Option B – Pending Spousal Application Retirement Date: June 1, 2023 Pension to Cease: November 30, 2024 B. Case No. 1652 Mary Fawcett – Died November 6, 2024 Monthly Pension Amount: $2,730.30 Option B – Not Married Retirement Date: September 22, 1994 Pension to Cease: November 30, 2024 C. Case No. 2379 Trena Riddle – Died November 17, 2024 Monthly Pension Amount: $1,075.75 No Option Retirement Date: September 29, 2006 Pension to Cease: November 30, 2024 IX. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 2996 Sandra Borden – Airports Years of Service: 15 Years, 10 Months Basis: Service Age: 62 Not Married Average Final Compensation: $3,334.68 Monthly Pension Amount: $929.36 ($3,334.68 X 31.67% less 12% for early retirement) Effective: December 20, 2024 B. Case No. 3034 Russell Claus – Planning Years of Service: 17 Years, 0 Months Basis: Service Age: 65 Not Married Average Final Compensation: $10,909.30 Monthly Pension Amount: $3,709.16 ($10,909.30 X 34%) Effective: March 15, 2022 X. INDIVIDUAL CONSIDERATION: A. Receive Oklahoma City Employee Retirement System Board 2025 regular meeting schedule. B. Amendment No. Six with Davis Graham & Stubbs LLP for professional legal services, January 1, 2025 through December 31, 2025, estimated cost of $35,000 per year. XI. RECEIVE Investment Consultant Report.  services, January 1, 2025 through December 31, 2025, estimated cost of $35,000 per year. XI. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XII. ELECT a Chair for the term January 1, 2025 to December 31, 2025. XIII. ELECT a Vice Chair for the term January 1, 2025 to December 31, 2025. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.