Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA May 08, 2025 10:00 AM Paul Bronson, Chair Brent Bryant, Vice-Chair Board Members: Bruce Davis Doug Dowler Sri Jonnada Aimee Maddera Karla Nickels JC Reiss Randy Thurman Matt Weller Vacancy Amy K. Simpson, Ex-officio Matthew Boggs, Ex-officio 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 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 297­­2397 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, May 08, 2025 City Council Chamber 200 North Walker I. Call to Order. II. RECEIVE election report. III. APPROVE meeting minutes from April 10, 2025. IV. PRESENTATION from Investment Manager. A. Earnest Partners V. CONSENT DOCKET: A. Report of judgments purchased for the month of April 2025 in the amount of $222,541.54. B. Report of purchasing card transactions for the period ending April 25, 2025 in the amount of $170.10. C. 2U Securities class action settlement proceeds in the amount of $84.09. D. Fluor Securities class action settlement proceeds in the amount of $177.27. VI. RATIFY APPROVALS: A. Payroll for the month of April 2025 in the amount of $4,318,566.66. B. Ratify Most Favored Nation elections for Saw Mill Capital Partners III signed by the Chair on behalf of the Oklahoma City Employee Retirement System. C. Resolution to ratify approval of the Chairman for the Request for Proposal to be advertised for a new Pension Management System including implementation and configuration services (RFP­OCERS­001) on behalf of the Oklahoma City Employee Retirement System. D. 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. 3872 Micki Carney – Police Years of Service: 32 Years, 6 Months Basis: Service Age: 62 Spouse: 69 Option B Average Final Compensation: From: $7,827.95 To: $7,892.03 Monthly Pension Amount: From: $4,761.97 ($7,827.95 X 65% X .93589) To: $4,800.95 ($7,892.03 X 65% X .93589) Effective: January 19, 2023 2. Case No. 3873 Gregory Harris – Utilities Years of Service: 25 Years, 1 Month Basis: Service Age: 61 Spouse: 57 Option C Average Final Compensation: From: $4,590.63 To: $4,634.93 Monthly Pension Amount: From: $2,138.33 ($4,590.63 X 50.17% X .92845); or $1,935.86 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $2,158.96 ($4,634.93 X 50.17% X .92845); or $1,956.49 with $30,000 Lump Sum Distribution Effective: January 10, 2023 3. Case No. 3874 Dale Hartman – Development Services Years of Service: 17 Years, 5 Months Basis: Service Age: 66 Spouse: 63 Option A Average Final Compensation: From: $7,048.35 To: $7,115.48 Monthly Pension Amount: From: $2,072.63 ($7,048.35 X 34.83% X .84427) To: $2,092.37 ($7,115.48 X 34.83% X .84427) Effective: January 6, 2023 4. Case No. 3876 Karen Johnson – City Manager Years of Service: 15 Years, 3 Months Basis: Service Age: 66 Not Married Average Final Compensation: From: $5,322.61 To: $5,367.77 Monthly Pension Amount: From: $1,623.40 ($5,322.61 X 30.5%); or $1,385.49 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $1,637.17 ($5,367.77 X 30.5%); or $1,399.26 with $30,000 Lump Sum Distribution Effective: January 6, 2023 5. Case No. 3878 Shanea Scully – Fire Years of Service: 29 Years, 10 Months Basis: Service Age: 51 Spouse: 61 Option A Average Final Compensation: From: $5,575.35 To: $5,623.52 Monthly Pension Amount: From: $3,154.95 ($5,575.35 X 59.67% X .94834); or $2,971.32 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $3,182.20 ($5,623.52 X 59.67% X .94834); or $2,998.58 with $30,000 Lump Sum Distribution Effective: January 20, 2023 6. Case No. 3879 Allen Stanford – Information Technology Years of Service: 26 Years, 4 Months Basis: Service Age: 66 Spouse: 64 Option A Average Final Compensation: From: $5,773.01 To: $5,816.40  Monthly Pension Amount: From: $2,586.03 ($5,773.01 X 52.67% X .85049) To: $2,605.48 ($5,816.40 X 52.67% X .85049) Effective: January 6, 2023 7. Case No. 3880 Stephanie Alexander – Police Years of Service: 20 Years, 4 Months Basis: Service Age: 62 Spouse: 62 No Option Average Final Compensation: From: $5,392.09 To: $5,400.04 Monthly Pension Amount: From: $1,929.80 ($5,392.09 X 40.67% less 12% for early retirement) To: $1,932.66 ($5,400.04 X 40.67% less 12% for early retirement) Effective: February 3, 2023 8. Case No. 3881 Bob Boatwright – Parks and Recreation Years of Service: 11 Years, 4 Months Basis: Service Age: 66 Spouse: 66 Option A Average Final Compensation: From: $3,461.37 To: $3,469.62 Monthly Pension Amount: From: $677.28 ($3,461.37 X 22.67% X .86312) To: $678.90 ($3,469.62 X 22.67% X .86312) Effective: February 2, 2023 9. Case No. 3882 John Doyle – Public Works Years of Service: 17 Years, 2 Months Basis: Service Age: 75 Not Married Average Final Compensation: From: $10,593.51 To: $10,590.42 Monthly Pension Amount: From: $3,636.75 ($10,593.51 X 34.33%); or $3,338.55 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $3,635.69 ($10,590.42 X 34.33%); or $3,337.49 with $30,000 Lump Sum Distribution Effective: February 3, 2023 10. Case No. 3883 Warren Fisher – Utilities Years of Service: 22 Years, 1 Month Basis: Service Age: 65 Spouse: 63 Option A Average Final Compensation: From: $4,183.42 To: $4,183.79 Monthly Pension Amount: From: $1,581.36 ($4,183.42 X 44.17% X .8558) To: $1,581.50 ($4,183.79 X 44.17% X .8558) Effective: February 4, 2023 11. Case No. 3884 Barbara Imoe – Police Years of Service: 26 Years, 7 Months Basis: Service Age: 66 Not Married  Average Final Compensation: From: $7,021.53 To: $7,024.63 Monthly Pension Amount: From: $3,733.35 ($7,021.53 X 53.17%) To: $3,735.00 ($7,024.63 X 53.17%) Effective: February 3, 2023 12. Case No. 3886 Lloyd Robertson – Public Works Years of Service: 40 Years, 10 Months Basis: Service Age: 62 Spouse: 64 Option A Average Final Compensation: From: $5,193.16 To: $5.193.26 Monthly Pension Amount: From: $3,779.97 ($5,193.16 X 81.67% X .89124) To: $3,780.05 ($5,193.26 X 81.67% X .89124) Effective: February 14, 2023 13. Case No. 3887 David Adcock – Development Services Years of Service: 40 Years, 10 Months Basis: Service Age: 58 Spouse: 61 Option A Average Final Compensation: From: $9,721.89 To: $9,714.24 Monthly Pension Amount: From: $6,881.85 ($9,721.89 X 77.83% X .90951) To: $6,876.43 ($9,714.24 X 77.83% X .90951) Effective: March 3, 2023 14. Case No. 3888 Roland Givens – Utilities Years of Service: 25 Years, 6 Months Basis: Service Age: 53 Spouse: 49 Option C Average Final Compensation: From: $4,541.55 To: $4,543.10 Monthly Pension Amount: From: $2,198.69 ($4,541.55 X 51% X .94927); or $2,011.32 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $2,199.44 ($4,543.10 X 51% X .94927); or $2,012.07 with $30,000 Lump Sum Distribution Effective: March 1, 2023 15. Case No. 3893 Lynn Neitzel – Utilities Years of Service: 14 Years, 6 Months Basis: Service Age: 63 Spouse: 61 Option A Average Final Compensation: From: $6,797.76 To: $6,815.09 Monthly Pension Amount: From: $1,570.70 ($6,797.76 X 29% X less 8% for early retirement X .86605) Monthly Pension Amount: To: $1,574.71 ($6,815.09 X 29% less 8% for early retirement X .86605) Effective: March 17, 2023 VII. APPROVE claims docket.  A. Claims to be approved. VIII. APPROVE the following applications for Service Retirement. A. Case No. 4057 Robert Finley – Utilities Years of Service: 29 Years, 3 Months Basis: Service Age: 63 Spouse: 65 Option C Average Final Compensation: $5,184.13 Monthly Pension Amount: $2,851.94 ($5,184.13 X 58.5% X .94039); or $2,640.15 with $30,000 Lump Sum Distribution Effective: May 9, 2025 B. Case No. 4058 Dennis Haikin – Public Works Years of Service: 17 Years, 10 Months Basis: Service Age: 69 Spouse: 68 Option A Average Final Compensation: $11,747.11 Monthly Pension Amount: $3,524.87 ($11,747.11 X 35.67% X .84122) Effective: April 25, 2025 C. Case No. 4059 Brandi Harrold – Information Technology Years of Service: 25 Years, 0 Months Basis: Service Age: 49 Spouse: 51 Option C Average Final Compensation: $8,563.18 Monthly Pension Amount: $4,132.59 ($8,563.18 X 50% X .9652) Effective: May 10, 2025 D. Case No. 4060 Don Kortemeier – Airports Years of Service: 31 Years, 4 Months Basis: Service Age: 66 Spouse: 65 Option B Average Final Compensation: $12,145.83 Monthly Pension Amount: $6,763.84 ($12,145.83 X 62.67% X .8886) Effective: May 9, 2025 E. Case No. 4061 Richard Mann – Municipal Counselors Office Years of Service: 5 Years, 4 Months Basis: Service Age: 67 Spouse: 59 No Option Average Final Compensation: $14,292.58 Monthly Pension Amount: $1,525.02 ($14,292.58 X 10.67%) Effective: May 31, 2025 F. Case No. 4062 W Schad Meldrum – Information Technology  Years of Service: 25 Years, 9 Months Basis: Service Age: 55 Spouse: 51 No Option Average Final Compensation: $20,979.17 Monthly Pension Amount: $10,804.27 ($20,979.17 X 51.5%) Effective: May 13, 2025 G. Case No. 4063 Elaine Nelson­Lewis – Development Services Years of Service: 31 Years, 6 Months Basis: Service Age: 60 Spouse: 59 No Option Average Final Compensation: $8,588.83 Monthly Pension Amount: $5,410.96 ($8,588.83 X 63%); or $5,196.10 with $30,000 Lump Sum Distribution Effective: May 9, 2025 H. Case No. 4064 Toni Pisano – Finance Years of Service: 18 Years, 5 Months Basis: Service Age: 61 Spouse: 62 Option A Average Final Compensation: $5,259.29 Monthly Pension Amount: $1,448.28 ($5,259.29 X 36.83% less 16% for early retirement X .89011) Effective: May 1, 2025 IX. APPROVE continuation of pension to spouse. A. Case No. 2804 Ulyssess Adamson – Died February 12, 2025 Monthly Pension Amount: $3,789.50 Option C Retirement Date: October 12, 2011 Pension to cease: February 28, 2025 B. Case No. 2804A Cleo Holman – Widow of Ulyssess Adamson Monthly Pension Amount: $1,894.75 ($3,789.50 X 50%) Option C Effective: March 1, 2025 C. Case No. 2106 Fred Spitler – Died April 1, 2025 Monthly Pension Amount: $2,400.07 Option A Retirement Date: October 1, 2002 Pension to cease: April 30, 2025 D. Case No. 2106A DeeAnn Spitler – Widow of Fred Spitler Monthly Pension Amount: $2,400.07 ($2,400.07 X 100%)  Option A Effective: May 1, 2025 X. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 3785 Dale Green – Died March 28, 2025 Monthly Pension Amount: $98.32 Option A Retirement Date: January 1, 2022 Pension to cease: March 31, 2025 B. Case No. 3785A Verda Green – Widow of Dale Green Monthly Pension Amount: $98.32 ($98.32 X 100%) Option A Effective: April 1, 2025 C. Case No. 2428 James Stone – Died April 16, 2025 Monthly Pension Amount: $1,040.93 Option B Retirement Date: May 9, 2006 Pension to cease: April 30, 2025 D. Case No. 2428A Sharon Stone – Widow of James Stone Monthly Pension Amount: $780.70 ($1,040.93 X 75%) Option B Effective: May 1, 2025 XI. 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. 2798 Katherine Farrow – Died April 13, 2025 Monthly Pension Amount: $3,858.75 No Option Retirement Date: August 10, 2011 Pension to cease: April 30, 2025 B. Case No. 3177 Marvin Gills – Died April 18, 2025 Monthly Pension Amount: $1,199.96 No Option Retirement Date: April 2, 2016 Pension to cease: April 30, 2025 C. Case No. 1936 Barbara Kerr – Died March 22, 2025 Monthly Pension Amount: $3,133.47  No Option Retirement Date: May 31, 2000 Pension to cease: March 31, 2025 D. Case No. 2837 William Perry – Died March 23, 2025 Monthly Pension Amount: $1,841.95 No Option Retirement Date: April 6, 2012 Pension to cease: March 31, 2025 E. Case No. 1455 Lawrence Potter – Died April 5, 2025 Monthly Pension Amount: $1,570.75 Option C – Spouse Predeceased Retirement Date: August 11, 1987 Pension to cease: April 30, 2025 XII. APPROVE the following applications of Vested Rights. A. Case No. 4065 Emily Futrell – Police Years of Service: 7 Years, 11 Months Basis: Vested Rights Age: 32 Average Final Compensation: $4,991.77 Monthly Pension Amount: $790.20 ($4,991.77 X 15.83%) Effective: Age 65 XIII. INDIVIDUAL CONSIDERATION: A. Approve document conversion and scanning services using the City of Oklahoma City’s purchasing contracts to convert the Employee Retirement System historical paper files for active employees, retirees, and vested employees for an electronic records system, estimated cost not to exceed $40,000. XIV. RECEIVE Investment Consultant Report. A. Monthly Investment Report. B. Quarterly Investment Report. XV. Comments from Board, Staff and Citizens. XVI. Adjournment.