Retiree Health Care Investment Board

CITY OF ROYAL OAK RETIREE HEALTH CARE INVESTMENT BOARD 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 Conference Room 309, Royal Oak MI, Thursday – April 13, 2017 at 1:30 p.m. The meeting was called to order by Chairperson Don Van Ochten at 1:25 pm 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 Frank Judd - Attorney with VanOverbeke Michaud and Timmony Brian Green – Investment Advisor with AndCo George Vitta – Investment Advisor with AndCo Mark Buis-Senior Consultant with GRS Mike Kosciuk- Consultant with GRS Leah Motyka- Administrative Assistant- Pension Technician Dave Poulton arrived at 1:30 pm OTHER Presentation of the Retiree Healthcare Actuarial report dated June 30, 2016 Request that the Board accept the actuarial report presented by GRS Moved by Lee Collick to receive and file report Supported by Dave Poulton MOTION ADOPTED UNANIMOUSLY 5/0 Mark Buis recommends a 4 or 5 year smoothing of assets from market value Moved by Don Johnson to have a 4 year smoothing period Supported by Lee Collick MOTION ADOPTED 5/0 Meeting closed to return back to Retirement System meeting (1:45 pm) Moved by Lee Collick Supported by Pat Paruch MOTION ADOPTED 5/0 Meeting re-opened at 2:03 pm Public Comment- none Board approval of the draft minutes for March 6th, 2017 meeting Moved by Pat Paruch to approve the March 6th, 2017 meeting minutes Supported by Dave Poulton MOTION ADOPTED UNANIIMOUSLY 5/0 INVESTMENTS Investment Manager Roster/Investment Schedule dated April 13, 2017 presented by Brian Green (report on file in the finance department), along with memo dated April 6, 2017: Update on current status of trust investments Brian will be giving the board quarterly reports Moved by Lee Collick to receive and file report on weighted investment Supported by Pat Paruch MOTION ADOPTED UNANIMOUSLY 5/0 Dave Poulton inquired as to why St. Clair County Retirement System is no longer with AndCo. LEGAL None NEXT MEETING AND ADJOURNMENT Next regular meeting is scheduled for immediately following the retirement system board meeting at approximately 1:30 pm on Thursday – May 4th, 2017 at City Hall room 315. Adjourn at 2:35 pm.