Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA November 13, 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, November 13, 2025 City Council Chamber 200 North Walker I. Call to Order. II. From the Chairman of the Board. A. Resolution of Appreciation for Doug Dowler for his dedicated service on the Oklahoma City Employee Retirement System Board of Trustees. III. APPROVE meeting minutes from October 9, 2025. IV. APPROVE Annual Comprehensive Financial Report. A. Presentation of the Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023 and 2024. V. CONSENT DOCKET: A. Report of judgments purchased for the month of October 2025 in the amount of $282,311.48. B. Report of purchasing card transactions for October 2025 in the amount of $2,218.43. C. Report of employee reimbursements for October 2025 in the amount of $452.33. D. Pegasystems securities settlement payment in the amount of $67.38. VI. RATIFY APPROVALS: A. Payroll for the month of October 2025 in the amount of $4,225,614.91. 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. 3961 Edward Degraffenried – Public Works Years of Service: 25 Years, 0 Months Basis: Service Age: 67 Spouse: 62 Option C Average Final Compensation: From: $8,412.57 To: $8,417.88 Monthly Pension Amount: From: $3,804.42 ($8,412.57 X 50% X .90446); or $3,584.85 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $3,806.82 ($8,417.88 X 50% X .90446); or $3,587.24 with $30,000 Lump Sum Distribution Effective Date: March 1, 2024 VII. APPROVE claims docket.  A. Claims to be approved. VIII. APPROVE the following applications for Service Retirement. A. Case No. 4092 Cynthia Braziel – Police Years of Service: 25 Years, 1 Month Basis: Service Age: 66 No Option Average Final Compensation: $5,591.49 Monthly Pension Amount: $2,805.25 ($5,591.49 X 50.17%); or $2,567.34 with $30,000 Lump Sum Distribution Effective Date: November 1, 2025 B. Case No. 4093 Karen Eisman – Police Years of Service: 13 Years, 3 Months Basis: Service Age: 59 No Option Average Final Compensation: $5,303.74 Monthly Pension Amount: $1,068.17 ($5,303.74 X 26.5% less 24% for early retirement) Effective Date: September 02, 2025 C. Case No. 4094 Terral Oliver – Utilities Years of Service: 20 Years, 0 Months Basis: Service Age: 62 Spouse: 63 Option B Average Final Compensation: $5,660.95 Monthly Pension Amount: $1,817.52 ($5,660.95 X 40% X .91211 less 12% for early retirement) Effective Date: November 21, 2025 D. Case No. 4095 Teri Pennington – Courts Years of Service: 31 Years, 7 Month Basis: Service Age: 59 No Option Average Final Compensation: $5,840.14 Monthly Pension Amount: $3,689.22 ($5,840.14 X 63.17%); or $3,477.37 with $30,000 Lump Sum Distribution Effective Date: August 29, 2025 IX. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 3215 Walter Bird – Died October 27, 2025 Monthly Pension Amount: $2,553.08 Option B Retirement Date: July 8, 2016  Pension to cease: October 31, 2025 B. Case No. 3215A Nancy Bird – Widow of Walter Bird Monthly Pension Amount: $1,914.81 ($2,553.08 X 75%) Option B Effective: November 1, 2025 C. Case No. 3225 John Oisten – Died October 7, 2025 Monthly Pension Amount: $2,098.40 Option A Retirement Date: August 26, 2016 Pension to cease: October 31, 2025 D. Case No. 3225A Donnetta Oisten – Widow of John Oisten Monthly Pension Amount: $2,098.40 ($2,098.40 X 100%) Option A Effective: November 1, 2025 X. APPROVE continuation of pension to spouse. A. Case No. 3796 Calvin Dugan – Died September 28, 2025 Monthly Pension Amount: $4,884.63 Option A Retirement Date: February 23, 2022 Pension to cease: September 30, 2025 B. Case No. 3796A Sheila Dugan – Widow of Calvin Dugan Monthly Pension Amount: $4,884.63 ($4,884.63 X 100%) Option A Effective: October 1, 2025 C. Case No. 2516 Milton Forbes – Died August 31, 2025 Monthly Pension Amount: $1,302.56 Option C Retirement Date: December 27, 2008 Pension to cease: August 31, 2025 D. Case No. 2516A Mary Ann Forbes – Widow of Milton Forbes Monthly Pension Amount: $651.28 ($1,302.56 X 50%) Option C Effective: September 1, 2025 E. Case No. 2585 Robert Mier – Died June 1, 2025 Monthly Pension Amount: $4,666.43  Option A Retirement Date: May 13, 2009 Pension to cease: June 30, 2025 F. Case No. 2585A Martha Schulenburg – Widow of Robert Mier Monthly Pension Amount: $4,666.43 ($4,666.43 X 100%) Option A Effective: July 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. 2436 Joann Turner – Died October 25, 2025 Monthly Pension Amount: $2,302.29 No Option Pension to cease: October 31, 2025 B. Case No. 2157 James Washington – Died October 5, 2025 Monthly Pension Amount: $1,551.74 Option C – Spouse Predeceased Pension to cease: October 31, 2025 XII. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2020A Larry McCarthey – Died October 7, 2025 Monthly Pension Amount: $1,970.96 No Option Pension to cease: October 31, 2025 XIII. APPROVE the following applications of Vested Rights. A. Case No. 4096 Jerry Russell – Utilities Years of Service: 15 Years, 11 Months Basis: Vested Rights Age: 55 Spouse: 49 Average Final Compensation: $6,472.05 Monthly Pension Amount: $2,060.05 ($6,472.05 X 31.83%) Effective: Age 65 XIV. INDIVIDUAL CONSIDERATION: A. Approve Gabriel, Roeder, Smith & Company to conduct an Experience Study analyzing actuarial assumptions for the Oklahoma City Employee Retirement System, covering the six-year period from December 31, 2019 to December 31, 2024.  B. Approve Growth Equity Fund commitment of $15 million to Warburg Pincus Global Growth 15. C. Approve Opportunistic Real Estate commitment of $10 million to Starwood Distressed Opportunity Fund XIII. XV. RECEIVE Investment Consultant Report. A. Monthly Investment Report. B. Quarterly Investment Report. XVI. Comments from Board, Staff and Citizens. XVII. Adjournment.