Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA October 09, 2025 10:00 AM Paul Bronson, Chair Brent Bryant, Vice-Chair Board Members: Bruce Davis Doug Dowler Sri Jonnada Aimee Maddera Joanna McSpadden Karla Nickels 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 297-2408 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, October 09, 2025 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE meeting minutes from September 11, 2025. III. APPROVE report from Gabriel, Roeder, Smith and Company. A. Annual Actuarial Valuation Report as of December 31, 2024. IV. CONSENT DOCKET: A. Report of judgments purchased for the month of September 2025 in the amount of $395,029.17. B. Report of purchasing card transactions for September 2025 in the amount of $2,741.23. C. SanDisk LLC securities settlement payment in the amount of $45.82. D. WageWorks, Inc. securities settlement payment in the amount of $561.77. E. Resolution to authorize Asset Consulting Group, LLC. ("ACG") to use Accelex Technology, Limited ("Accelex") as a service provider to support ACG to provide investment information for the Oklahoma City Employee Retirement System and Authorizing the Chairman to execute authorization to do so. V. RATIFY APPROVALS: A. Payroll for the month of September 2025 in the amount of $4,285,395.87. 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. 3952 Ricardo Lopez – Utilities Years of Service: 20 Years, 0 Months Basis: Service Age: 84 Not Married Average Final Compensation: From: $4,939.93 To: $4,945.12 Monthly Pension Amount: From: $1,975.97 ($4,939.93 X 40%) Monthly Pension Amount: To: $1,978.05 ($4,945.12 X 40%) Effective: January 27, 2024 2. Case No. 3953 Stephen McPherson – Utilities Years of Service: 28 Years, 1 Month Basis: Service Age: 65 Spouse: 57 No Option Average Final Compensation: From: $7,466.27 To: $7,606.05  Monthly Pension Amount: From: $4,193.80 ($7,466.27 X 56.17%) Monthly Pension Amount: To: $4,272.32 ($7,606.05 X 56.17%) Effective Date: January 18, 2024 3. Case No. 3955A Lisa Samuels – Widow of Kyle Samuels who died September 22, 2023 while in Active service. Years of Service: 12 Years, 11 Months Basis: Death Not In The Line Of Duty Age: 55 Spouse: 54 Option A Average Final Compensation: From: $6,960.86 To: $6,981.20 Monthly Pension Amount: From: $976.35 ($6,960.86 X 25.83% less 40% for early retirement X .90504) Monthly Pension Amount: To: $979.20 ($6,981.20 X 25.83% less 40% for early retirement X .90504) Effective Date: September 23, 2023 4. Case No. 3956 Beverly Asberry – City Council Office Years of Service: 35 Years, 0 Months Basis: Service Age: 63 Spouse: 64 Option C Average Final Compensation: From: $5,702.17 To: 5,701.92 Monthly Pension Amount: From: $3,741.49 ($5,702.17 X 70% X .93736) Monthly Pension Amount: To: $3,741.32 ($5,701.92 X 70% X .93736) Effective Date: February 2, 2024 5. Case No. 3957 Helen Harris – Police Years of Service: 18 Years, 0 Months Basis: Service Age: 76 Not Married Average Final Compensation: From: $4,649.40 To: $4,653.50 Monthly Pension Amount: From: $1,673.78 ($4,649.40 X 36%); or $1,365.82 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $1,675.26 ($4,653.50 X 36%); or $1,367.30 with $30,000 Lump Sum Distribution Effective Date: February 1, 2024 6. Case No. 3959 Thinh Nguyen – Public Works Years of Service: 41 Years, 7 Months Basis: Service Age: 67 Spouse: 59 Option A Average Final Compensation: From: $6,074.55 To: $6,074.34 Monthly Pension Amount: From: $4,078.09 ($6,074.55 X 83.17% X .80719) Monthly Pension Amount: To: $4,077.95 ($6,074.34 X 83.17% X .80719) Effective Date: February 3, 2024  7. Case No. 3960 Elizabeth Reaves – Utilities Years of Service: 21 Years, 11 Months Basis: Service Age: 65 Spouse: 64 No Option Average Final Compensation: From: $4,296.55 To: $4,296.34 Monthly Pension Amount: From: $1,883.18 ($4,296.55 X 43.83%) Monthly Pension Amount: To: $1,883.09 ($4,296.34 X 43.83%) Effective Date: February 2, 2024 8. Case No. 3958 Gwendolyn Mustiful – Utilities Years of Service: 30 Years, 1 Month Basis: Service Age: 62 Not Married Average Final Compensation: From $5,873.68 To: $5,890.17 Monthly Pension Amount: From: $3,534.19 ($5,873.68 X 60.17%) Monthly Pension Amount: To: $3,544.12 ($5890.17 X 60.17%) Effective Date: February 2, 2024 9. Case No. 3951 Curtis Liggins – Planning Years of Service: 39 Years, 1 Month Basis: Service Age: 62 Spouse: 58 Option C Average Final Compensation: From: $8,589.71 To: $8,621.71 Monthly Pension Amount: From: $6,213.47 ($8,589.71 X 78.17% X .92537); or $6,008.48 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $6,236.61 ($8,621.71 X 78.17% X .92537); or $6,031.63 with $30,000 Lump Sum Distribution Effective Date: January 3, 2024 VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 4083 Kevin Blanchard – Information Technology Years of Service: 18 Years, 2 Months Basis: Service Age: 63 No Option Average Final Compensation: From: $8,236.48 Monthly Pension Amount: From: $2,752.93 ($8,236.48 X 36.33% less 8% for early retirement) Effective Date: September 19, 2025 B. Case No. 4084 John Folsom – Golf Years of Service: 17 Years, 3 Months Basis: Service  Age: 67 Spouse: 65 Option A Average Final Compensation: From: $1,895.45 Monthly Pension Amount: From: $653.93 ($1,895.45 X 34.5%); or $347.45 with $30,000 Lump Sum Distribution Effective Date: October 3, 2025 C. Case No. 4085 Elliott Knight – Utilities Years of Service: 32 Years, 7 Months Basis: Service Age: 61 Spouse: 56 Option C Average Final Compensation: From: $6,992.72 Monthly Pension Amount: From: $4,219.11 ($6,992.72 X 65.17% X .92582); or $4,017.21 with $30,000 Lump Sum Distribution Effective Date: October 2, 2025 D. Case No. 4086 Analinda Lane – Police Years of Service: 32 Years, 2 Months Basis: Service Age: 62 Spouse: 69 Option A Average Final Compensation: From: $5,475.28 Monthly Pension Amount: From: $3,227.47 ($5,475.28 X 64.33% X .91631) Effective Date: October 24, 2025 E. Case No. 4087 Rocky Maynard – General Services Years of Service: 7 Years, 3 Months Basis: Service Age: 62 Spouse: 60 Option A Average Final Compensation: From: $5,753.88 Monthly Pension Amount: From: $639.46 ($5,753.88 X 14.5% less 12% for early retirement X .87098) Effective Date: September 16, 2025 F. Case No. 4088 James Price – Fire Years of Service: 20 Years, 0 Months Basis: Service Age: 68 Spouse: 61 Option A Average Final Compensation: From: $6,416.83 Monthly Pension Amount: From: $2,068.32 ($6,416.83 X 40% X .80582); or $1,868.49 with $30,000 Lump Sum Distribution Effective Date: October 1, 2025 G. Case No. 4089 David Scott – Airports Years of Service: 20 Years, 0 Months Basis: Service Age: 68 Spouse: 67 Option C Average Final Compensation: From: $7,373.27 Monthly Pension Amount: From: $2,704.16 ($7,373.27 X 40% X .91688)  Effective Date: October 10, 2025 H. Case No. 4090 Kandi Wilson – Utilities Years of Service: 33 Years, 2 Months Basis: Service Age: 61 Spouse: 69 No Option Average Final Compensation: From: $5,357.91 Monthly Pension Amount: From: $3,553.90 ($5,357.91 X 66.33%); or $3,335.82 with $30,000 Lump Sum Distribution Effective Date: October 1, 2025 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. 2316 Wesley Allen – Died July 24, 2025 Monthly Pension Amount: $2,613.25 Option C – Not Married Retirement Date: December 30, 2005 Pension to cease: July 31, 2025 B. Case No. 3796 Calvin Dugan – Died September 28, 2025 Monthly Pension Amount: $4,884.63 Option A – Pending Spousal Application Retirement Date: February 23, 2022 Pension to cease: September 30, 2025 C. Case No. 2516 Milton Forbes – Died August 31, 2025 Monthly Pension Amount: $1,302.56 Option C – Pending Spousal Application Retirement Date: December 27, 2008 Pension to cease: August 31, 2025 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1587A Patsy Stone – Died September 14, 2025 Monthly Pension Amount: $500.03 No Option Pension to cease: September 30, 2025 X. APPROVE the following applications of Vested Rights. A. Case No. 4091 Kristi Hess – Personnel Years of Service: 14 Years, 1 Month Basis: Vested Rights Age: 55 Spouse: 59  Average Final Compensation: $3,207.77 Monthly Pension Amount: $903.63 ($3,207.77 X 28.17%) Effective: Age 65 XI. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 4091 Kristi Hess – Personnel Years of Service: 14 Years, 1 Month Basis: Service Age: 55 Spouse: 59 Option A Average Final Compensation: $3,207.77 Monthly Pension Amount: $499.90 ($3,207.77 X 28.17% less 40% for early retirement X .92201) Effective: September 3, 2025 XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.