Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA April 10, 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 – 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, April 10, 2025 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE meeting minutes from March 13, 2025. III. PRESENTATION from Investment Manager. A. Silvercrest IV. CONSENT DOCKET: A. Report of judgments purchased for the month of March 2025 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, April 10, 2025 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE meeting minutes from March 13, 2025. III. PRESENTATION from Investment Manager. A. Silvercrest IV. CONSENT DOCKET: A. Report of judgments purchased for the month of March 2025 in the amount of $800,848.95. B. Report of purchasing card transactions for the period ending March 25, 2025 in the amount of $188.23. C. Report of employee reimbursements for the month of March 2025 in the amount of $547.30. D. Earnest Partners commission recapture proceeds in the amount of $185.64. E. Allstate Corporation class action settlement proceeds in the amount of $1,145.22. F. County Court witness fee paid for testimony in the amount of $10.00. V. RATIFY APPROVALS: A. Payroll for the month of March 2025 in the amount of $4,167,316.71. VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 4044 Charles Berkenbile – Police Years of Service: 16 Years, 6 Months Basis: Service Age: 79 Spouse: 75 No Option Average Final Compensation: $5,320.47 Monthly Pension Amount: $1,755.76 ($5,320.47 X 33%) Effective: April 11, 2025 B. Case No. 4045 Dorothy Dunn – Police Years of Service: 29 Years, 8 Months Basis: Service Age: 53 Not Married Average Final Compensation: $8,847.74 Monthly Pension Amount: $5,249.36 ($8,847.74 X 59.33%); or $5,051.98 with  Years of Service: 29 Years, 8 Months Basis: Service Age: 53 Not Married Average Final Compensation: $8,847.74 Monthly Pension Amount: $5,249.36 ($8,847.74 X 59.33%); or $5,051.98 with $30,000 Lump Sum Distribution Effective: April 11, 2025 C. Case No. 4046 James Gaston – Public Works Years of Service: 25 Years, 0 Months Basis: Service Age: 63 Spouse: 70 No Option Average Final Compensation: $7,790.37 Monthly Pension Amount: $3,895.19 ($7,790.37 X 50%) Effective: April 12, 2025 D. Case No. 4047 C Laraine Geiger – Utilities Years of Service: 42 Years, 5 Months Basis: Service Age: 68 Spouse: 68 No Option Average Final Compensation: $5,194.17 Monthly Pension Amount: $4,406.21 ($5,194.17 X 84.83%) Effective: April 4, 2025 E. Case No. 4048 Michael Harjochee – Public Works Years of Service: 32 Years, 8 Months Basis: Service Age: 55 Spouse: 49 No Option Average Final Compensation: $6,512.48 Monthly Pension Amount: $4,254.60 ($6,512.48 X 65.33%); or $4,052.99 with $30,000 Lump Sum Distribution Effective: April 25, 2025 F. Case No. 4049 Stephen Hill – Mayor and Council Years of Service: 14 Years, 4 Months Basis: Service Age: 65 Spouse: 62 Option A Average Final Compensation: $13,223.11 Monthly Pension Amount: $3,222.07 ($13,223.11 X 28.67% X .84991) Effective: March 29, 2025 G. Case No. 4050 Clois Knight – Utilities Years of Service: 40 Years, 0 Months Basis: Service Age: 62 Not Married Average Final Compensation: $5,788.70 Monthly Pension Amount: $4,630.96 ($5,788.70 X 80%); or $4,409.44 with $30,000 Lump Sum Distribution Effective: April 5, 2025  Age: 62 Not Married Average Final Compensation: $5,788.70 Monthly Pension Amount: $4,630.96 ($5,788.70 X 80%); or $4,409.44 with $30,000 Lump Sum Distribution Effective: April 5, 2025 H. Case No. 4051 Terran Tidwell – Information Technology Years of Service: 37 Years, 5 Months Basis: Service Age: 74 Spouse: 74 No Option Average Final Compensation: $11,001.25 Monthly Pension Amount: $8,232.24 ($11,001.25 X 74.83%); or $7,943.03 with $30,000 Lump Sum Distribution Effective: April 25, 2025 I. Case No. 4052 Sherry Westbrook – Public Works Years of Service: 42 Years, 5 Months Basis: Service Age: 61 Not Married Average Final Compensation: $7,837.85 Monthly Pension Amount: $6,648.85 ($7,837.85 X 84.83%); or $6,430.77 with $30,000 Lump Sum Distribution Effective: April 4, 2025 J. Case No. 4053 Quon Young – Utilities Years of Service: 12 Years, 6 Months Basis: Service Age: 62 Not Married Average Final Compensation: $5,090.94 Monthly Pension Amount: $1,120.01 ($5,090.94 X 25% less 12% for early retirement) Effective: April 22, 2025 VIII. APPROVE continuation of pension to spouse. A. Case No. 2834 Joe Case – Died February 23, 2025 Monthly Pension Amount: $843.90 Option B Retirement Date: March 10, 2012 Pension to cease: February 28, 2025 B. Case No. 2834A Patricia Case – Widow of Joe Case Monthly Pension Amount: $632.93 ($843.90 X 75%) Option B Effective: March 1, 2025 C. Case No. 3767 Luis Mata­Aragon – Died January 26, 2025 Monthly Pension Amount: $2,258.24 Option B  Effective: March 1, 2025 C. Case No. 3767 Luis Mata­Aragon – Died January 26, 2025 Monthly Pension Amount: $2,258.24 Option B Retirement Date: October 29, 2021 Pension to cease: January 31, 2025 D. Case No. 3767A Graciela Mata – Widow of Luis Mata­Aragon Monthly Pension Amount: $1,693.68 ($2,258.24 X 75%) Option B Effective: February 1, 2025 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. 2804 Ulyssess Adamson – Died February 12, 2025 Monthly Pension Amount: $3,789.50 Option C – Pending Spousal Application Retirement Date: October 12, 2011 Pension to cease: February 28, 2025 (Payment stopped for March 2025) B. Case No. 2980 Melva Brinlee – Died March 5, 2025 Monthly Pension Amount: $1,791.86 No Option Retirement Date: April 4, 2014 Pension to cease: March 31, 2025 C. Case No. 1852 Jerry Johnson – Died January 5, 2025 Monthly Pension Amount: $3,141.91 No Option Retirement Date: January 8, 1999 Pension to cease: January 31, 2025 (Recalled February 2025 and stopped March 2025) D. Case No. 2441 Sharon Johnson – Died March 20, 2025 Monthly Pension Amount: $820.99 No Option Retirement Date: May 20, 2007 Pension to cease: March 31, 2025 E. Case No. 4016 April Miller – Died November 5, 2024 Monthly Pension Amount: $1,295.29 No Option Retirement Date: August 13, 2024 Pension to cease: November 30, 2024 (Recalling December 2024 through March 2025)  April Miller – Died November 5, 2024 Monthly Pension Amount: $1,295.29 No Option Retirement Date: August 13, 2024 Pension to cease: November 30, 2024 (Recalling December 2024 through March 2025) F. Case No. 1683 Joe Roebuck – Died February 19, 2025 Monthly Pension Amount: $756.67 Option C – Spouse Predeceased Retirement Date: March 16, 1995 Pension to cease: February 28, 2025 (Payment stopped for March 2025) G. Case No. 2008 Robert Sanders – Died March 20, 2025 Monthly Pension Amount: $2,643.55 No Option Retirement Date: June 21, 2001 Pension to cease: March 31, 2025 H. Case No. 2106 Fred Spitler – Died April 1, 2025 Monthly Pension Amount: $2,400.07 Option A – Pending Spousal Application Retirement Date: October 1, 2002 Pension to cease: April 30, 2025 I. Case No. 3447 Charles Whitlow – Died March 1, 2025 Monthly Pension Amount: $2,201.51 No Option Retirement Date: September 21, 2018 Pension to cease: March 31, 2025 X. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2278A Melva Brinlee – Died March 5, 2025 Monthly Pension Amount: $1,655.89 No Beneficiary Pension to cease: March 31, 2025 XI. APPROVE the following applications of Vested Rights. A. Case No. 4054 David Kurtz – Utilities Years of Service: 5 Years, 1 Month Basis: Vested Rights Age: 59 Average Final Compensation: $5,731.48 Monthly Pension Amount: $582.89 ($5,731.48 X 10.17%) Effective: Age 65  Years of Service: 5 Years, 1 Month Basis: Vested Rights Age: 59 Average Final Compensation: $5,731.48 Monthly Pension Amount: $582.89 ($5,731.48 X 10.17%) Effective: Age 65 B. Case No. 4055 Angela Leoni – Zoo Years of Service: 5 Years, 11 Months Basis: Vested Rights Age: 60 Average Final Compensation: $2,861.40 Monthly Pension Amount: $338.50 ($2,861.40 X 11.83%) Effective: Age 65 XII. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 4054 David Kurtz – Utilities Years of Service: 5 Years, 1 Month Basis: Service Age: 59 Not Married Average Final Compensation: $5,731.48 Monthly Pension Amount: $443.00 ($5,731.48 X 10.17% less 24% for early retirement) Effective: March 31, 2025 B. Case No. 4055 Angela Leoni – Zoo Years of Service: 5 Years, 11 Months Basis: Service Age: 60 Spouse: 56 Option C Average Final Compensation: $2,861.40 Monthly Pension Amount: $252.23 ($2,861.40 X 11.83% X .93142 less 20% for early retirement) Effective: March 4, 2025 XIII. RECEIVE report of death. Death of employee while in Active service. APPROVE continuation of pension to spouse. A. Case No. 4056A Kimberly Reeves – Widow of Jerry Reeves Jr who died November 29, 2024 while in Active service Years of Service: 26 Years, 6 Months Basis: Death Not In the Line of Duty Age: 54 Spouse: 55 Option A Average Final Compensation: $3,739.70 Monthly Pension Amount: $1,813.76 ($3,739.70 X 53% X .9151) Effective: November 30, 2024 XIV. INDIVIDUAL CONSIDERATION: A. Small/Mid Cap Equity Portfolio Review.  Monthly Pension Amount: $1,813.76 ($3,739.70 X 53% X .9151) Effective: November 30, 2024 XIV. INDIVIDUAL CONSIDERATION: A. Small/Mid Cap Equity Portfolio Review. XV. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XVI. Comments from Board, Staff and Citizens. A. Notification of the solicitation for proposals from qualified organizations to provide a comprehensive Pension Administration System (PAS). XVII. Adjournment.