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 315, Royal Oak MI, Thursday – May 4, 2017 at 1:30 p.m. The meeting was called to order by Chairperson Don Van Ochten at 1:57 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 Tom Michaud – Bd attorney with VanOverbeke Michaud and Timmony Brian Green – Investment Advisor with AndCo Leah Motyka - Administrative Assistant- Pension Technician Bret Nelson – member of ROPD, detectives unit Request made by Julie Rudd to amend the agenda by adding memo from Brian Green and request for conditional authorization to enter into agreement with Michigan CLASS. Public Comment- none th Board approval of the draft minutes for April 13 , 2017 meeting th Moved by Pat Paruch to approve the April 13 , 2017 meeting minutes Supported by Dave Poulton MOTION ADOPTED UNANIIMOUSLY 5/0 INVESTMENTS Real Estate Primer dated May 4, 2017 presented by Brian Green (report on file in the finance department), along with memo dated May 3, 2017: Update on current allocation status of trust investments Brian suggesting that the board add real estate into portfolio in the future. Moved by Lee Collick to receive and file report Supported by Pat Paruch MOTION ADOPTED UNANIMOUSLY 5/0 LEGAL None OTHER Retiree health care fund line-item budget for fy17-18 Training & education budget will be split between pension and health care ($2500 each) Moved by Lee Collick to accept the recommended budget for fy17-18 Supported by Pat Paruch MOTION ADOPTED UNANIMOUSLY 5/0 Authorization to enter into agreement with Michigan CLASS to park a portion of the OPEB bond proceeds temporarily. Moved by Lee Collick to allow authorization to enter into agreement with Michigan CLASS upon the condition that Michigan CLASS will allow funds to be put under the trusts name. Supported by Pat Paruch MOTION ADOPTED UNANIMOUSLY 5/0 NEXT MEETING AND ADJOURNMENT Next regular meeting is scheduled for immediately following the retirement system board meeting at approximately 1:30 pm on Thursday – June 1, 2017 at City Hall room 309. st Moved by Dave Poulton to adjourn the meeting (2:44 pm.) and confirm next meeting for June 1 , 2017 immediately following retirement system board meeting at approximately 1:30 pm Supported by Pat Paruch MOTION ADOPTED UNIANIMOUSLY 5/0