Retiree Health Care Investment Board

CITY OF ROYAL OAK RETIREE HEALTH CARE INVESTMENT MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES A meeting of the Retiree Health Care Investment Board of Trustees was conducted in the City Hall st Conference Room 309, Royal Oak MI, Thursday – December 1 , 2016 at 1:15 p.m. The meeting was called to order by Don Johnson at 1:48 pm Other Election of Chairperson and Vice Chairperson- Don Van Ochten as Chairperson and Lee Collick as Vice Chairperson. Moved by Don Johnson to appoint Don Van Ochten as Chairperson and Lee Collick as Vice Chairperson. Supported by Pat Paruch MOTION ADOPTED 5/0 Attendance PRESENT: Don Van Ochten- Chairperson Lee Collick- Vice Chairperson Dave Poulton- Trustee Pat Paruch- Trustee Don Johnson- Trustee ALSO PRESENT: Julie Rudd – Bd Chief Administrative Officer/ Bd Secretary/Bd Treasurer Tom Michaud – Bd Attorney with VanOverbeke Michaud and Timmony Leah Motyka- Administrative Assistant- Pension Technician Public Comment - none INVESTMENTS Discussion of RFI responses for investment consultant services. Firms determined to be interviewed based on experience and (initial) investment returns provided. The Bogdahn Group Independent Portfolio Consultants Dahab Associates Morgan Stanley Julie Rudd will collect some additional information then a determination will be made if the following firm(s) will be interviewed. LJPR F.A. Advance Capital Mgt Will not be interviewed as the trustees are very familiar with SEI’s information already. SEI Firms eliminated: Wells Fargo PFM Asset Mgt LEGAL Memo dated December 1, 2016 from Tom Michaud- Michigan Legislative Update Moved by Dave Poulton to receive and file memo Supported by Pat Paruch MOTION ADOPTED UNIANIMOUSLY 5/0 NEXT MEETING AND ADJOURNMENT Next regular meeting and investment consultant interviews are scheduled for 9 am Wednesday – December 21, 2016 at City Hall room 309, with a backup date of Thursday - December 22, 2016. Moved by Lee Collick to adjourn the meeting (2:38 p.m.) and confirm next meeting for December st nd 21 , 2016 at 9 am, with a backup date of December 22 , 2016. Supported by Dave Poulton MOTION ADOPTED UNIANIMOUSLY 5/0