Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA January 09, 2025 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 – 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 09, 2025 City Clerk’s Conference Room 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 12, 2024. III. CONSENT DOCKET: A. Report of judgments purchased for the month of December 2024 in the amount of $1,521,911.50. B. Travel expense reimbursement for the month of December in the amount of $575.67. 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 09, 2025 City Clerk’s Conference Room 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 12, 2024. III. CONSENT DOCKET: A. Report of judgments purchased for the month of December 2024 in the amount of $1,521,911.50. B. Travel expense reimbursement for the month of December in the amount of $575.67. C. Report of purchasing card transactions for the month of December 2024 in the amount of $405.86. D. Stericycle class action settlement proceeds in the amount of $45.03. E. McKesson class action settlement proceeds in the amount of $764.83. F. ImageNet refund of copier contract in the amount of $80.49. IV. RATIFY APPROVALS: A. Payroll for the month of December 2024 in the amount of $4,223,517.88 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 4027 Michael Clark – Parks & Recreation Years of Service: 19 Years, 6 Months Basis: Service Age: 67 No Option Average Final Compensation: $5,729.44 Monthly Pension Amount: $2,234.48 ($5,729.44 X 39%); or $1,991.71 with $30,000 Lump Sum Distribution Effective: January 3, 2025 B. Case No. 4028 Herbert Jones – Utilities Years of Service: 17 Years, 1 Month Basis: Service Age: 64 No Option Average Final Compensation: $8,237.85 Monthly Pension Amount: $2,702.28 ($8,237.85 X 34.17% less 4% for early retirement) Effective: January 24, 2025  Average Final Compensation: $8,237.85 Monthly Pension Amount: $2,702.28 ($8,237.85 X 34.17% less 4% for early retirement) Effective: January 24, 2025 C. Case No. 4029 Chrystal Morgan – Courts Years of Service: 9 Years, 1 Month Basis: Service Age: 65 No Option Average Final Compensation: $4,165.02 Monthly Pension Amount: $756.78 ($4,165.02 X 18.17%); or $523.40 with $30,000 Lump Sum Distribution Effective: January 22, 2025 D. Case No. 4030 Ronnie Newman – Public Works Years of Service: 36 Years, 4 Months Basis: Service Age: 64 Spouse: 65 Option A Average Final Compensation: $8,510.72 Monthly Pension Amount: $5,066.54 ($8,510.72 X 72.67% X .8192) Effective: January 31, 2025 E. Case No. 4031 Robert Roe – Development Services Years of Service: 30 Years, 0 Months Basis: Service Age: 75 No Option Average Final Compensation: $6,590.71 Monthly Pension Amount: $3,954.43 ($6,590.71 X 60%) Effective: January 1, 2025 F. Case No. 4032 Norma Tiller – Police Years of Service: 18 Years, 9 Months Basis: Service Age: 66 Spouse: 67 Option C Average Final Compensation: $5,006.31 Monthly Pension Amount: $1,746.31 ($5,006.31 X 37.5% X .93019); or $1,525.01 with $30,000 Lump Sum Distribution Effective: January 3, 2025 VII. APPROVE continuation of pension to spouse. A. Case No. 3904 John Cravens – Died November 9, 2024 Monthly Pension Amount: $2,317.22 Option B Retirement Date: June 1, 2023 Pension to Cease: November 30, 2024 B. Case No. 3904A Marla Cravens – Widow of John Cravens Monthly Pension Amount: $1,737.92 ($2,317.22 X 75%)  Retirement Date: June 1, 2023 Pension to Cease: November 30, 2024 B. Case No. 3904A Marla Cravens – Widow of John Cravens Monthly Pension Amount: $1,737.92 ($2,317.22 X 75%) Option B Effective: December 1, 2024 C. Case No. 3685 Terll Shrum – Died September 16, 2024 Monthly Pension Amount: $1,401.98 Option A Retirement Date: September 5, 2020 Pension to Cease: September 30, 2024 D. Case No. 3685A Linda Shrum – Widow of Terll Shrum Monthly Pension Amount: $1,401.98 ($1,401.98 X 100%) Option A Effective: October 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. 2348 Jessie Byrd­Cashion – Died December 4, 2024 Monthly Pension Amount: $2,910.32 No Option Retirement Date: April 21, 2006 Pension to Cease: December 31, 2024 B. Case No. 3824A Bernard Cooks – Died November 27, 2024 Monthly Pension Amount: $474.66 Option A – Pending Spousal Application Retirement Date: March 5, 2022 Pension to Cease: November 30, 2024 (Recalled December 2024 payment) C. Case No. 1520 Roy Edson – Died November 27, 2024 Monthly Pension Amount: $2,463.75 Option C – Spouse Predeceased Retirement Date: January 5, 1990 Pension to Cease: November 30, 2024 (December 2024 payment stopped) D. Case No. 3331 Carl Franklin – Died December 22, 2024 Monthly Pension Amount: $1,425.23 Option A – Pending Spousal Continuation Retirement Date: September 22, 2017 Pension to Cease: December 31, 2024  Carl Franklin – Died December 22, 2024 Monthly Pension Amount: $1,425.23 Option A – Pending Spousal Continuation Retirement Date: September 22, 2017 Pension to Cease: December 31, 2024 E. Case No. 2373 Edna Goudeau – Died December 2, 2024 Monthly Pension Amount: $1,658.80 No Option Retirement Date: August 25, 2006 Pension to Cease: December 31, 2024 F. Case No. 2122 Robert Hadden – Died December 16, 2024 Monthly Pension Amount: $1,575.66 No Option Retirement Date: December 17, 2002 Pension to Cease: December 31, 2024 G. Case No. 2026 Helen Lube – Died December 26, 2024 Monthly Pension Amount: $2,094.45 No Option Retirement Date: August 31, 2001 Pension to Cease: December 31, 2024 H. Case No. 2177A Stanley Morris – Died November 27, 2024 Monthly Pension Amount: $1,907.64 Option A – Pending Spousal Application Retirement Date: January 3, 2004 Pension to Cease: November 30, 2024 (Recalled December 2024 payment) I. Case No. 3151A Darrell Spears – Died December 17, 2024 Monthly Pension Amount: $1,645.38 Option B – Pending Spousal Application Retirement Date: January 8, 2016 Pension to Cease: December 31, 2024 J. Case No. 1547 Kenneth Winston – Died December 26, 2024 Monthly Pension Amount: $2,205.46 Option C – Spouse Predeceased Retirement Date: March 9, 1991 Pension to Cease: December 31, 2024 IX. INDIVIDUAL CONSIDERATION: A. Interest rate to be applied to Employee Contributions for the period January 1, 2024 through December 31, 2024. B. Cost of living adjustment be granted to eligible retirees effective January 1, 2025. IX. INDIVIDUAL CONSIDERATION: A. Interest rate to be applied to Employee Contributions for the period January 1, 2024 through December 31, 2024. B. Cost of living adjustment be granted to eligible retirees effective January 1, 2025. C. Resolution ratifying the actions of the Chairman in executing the required Participation Agreements allowing the Oklahoma City Employee Retirement System continued participation in the Oklahoma City 457 plan effective December 18, 2024, and participation in the Money Purchase Plan and Trust, Open Plan sponsored by The City of Oklahoma City effective January 1, 2025. D. Asset Allocation Presentation. X. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XI. Comments from Board, Staff and Citizens. XII. Adjournment.