Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA October 13, 2022 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Jacqueline Ames Brent Bryant Sri Jonnada Eugene (Marty) Lawson Aimee Maddera Karla Nickels JC Reiss Randy Thurman Matt Weller Amy K. Simpson, Ex­officio Matthew Boggs, Ex­officio Regina Story, ERS Manager Richard Mahoney, Assistant Municipal Counselor 200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION The following safety guidelines are in place for meetings in the Council Chamber at City Hall: only the south entrance to City Hall will be open; air purifying machines have been installed in the Chamber; hand sanitizer machines and disposable face masks will be available. 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 ADA department coordinator at 297­2408 or TDD 297­2020 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 ADA department coordinator listed above 48 hours prior to the scheduled meeting.  200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION The following safety guidelines are in place for meetings in the Council Chamber at City Hall: only the south entrance to City Hall will be open; air purifying machines have been installed in the Chamber; hand sanitizer machines and disposable face masks will be available. 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 ADA department coordinator at 297­2408 or TDD 297­2020 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 ADA department 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 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of September 8, 2022. III. CONSENT DOCKET: A. Judgments for the month of September 2022, in the amount of $ 361,774.58. 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 13, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of September 8, 2022. III. CONSENT DOCKET: A. Judgments for the month of September 2022, in the amount of $ 361,774.58. IV. RATIFY APPROVALS: A. Payroll for the month of September 2022, in the amount of $3,736,202.45. B. Payment of claim to The City of Oklahoma City in the amount of $2,279.44 for August 2023 Postage Chargeback. C. The action of the Secretary and Administrator in modifying the application due to change in the Average Final Compensation and Monthly Pension Amount. 1. Case No. 3608 Hossain Shaini­Mandani – Utilities Years of Service: 33 Years, 0 Months Basis: Service Age: 75 Not Married Average Final Compensation: From: $6,655.05 To: $6,662.77 Monthly Pension Amount: From: $4,392.33 ($6,655.05 X 66%) To: $4,397.43 ($6,662.77 X 66%) Effective: February 1, 2020 2. Case No. 3602 Yolinda Washington – General Services Years of Service: 21 Years, 9 Months Basis: Service Age: 65 Not Married Average Final Compensation: From $6,373.25 To: $6,374.34 Monthly Pension Amount: From: $2,772.36 ($6,373.25 X 43.5%) To: $2,772.84 ($6,374.34 X 43.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From $2,551.36 To: $2,551.84 Effective: January 4, 2020 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3851  A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3851 Ian Bowers – Utilities Years of Service: 20 Years, 0 Months Basis: Service Age: 56 Spouse: 83 Option A Average Final Compensation: $6,124.20 Monthly Pension Amount: $1,542.21 ($6,124.20 X 40% less 36% for early retirement X .98368) Effective: October 19, 2022 B. Case No. 3852 Charles Green – Public Works Years of Service: 7 Years, 1 Month Basis: Service Age: 66 Spouse: 62 Option A Average Final Compensation: $3,403.66 Monthly Pension Amount: $404.23 ($3,403.66 X 14.17% X .83812) Effective: October 29, 2022 C. Case No. 3853 Craig Harmon – Zoo Years of Service: 27 Years, 11 Months Basis: Service Age: 59 Not Married Average Final Compensation: $2,919.62 Monthly Pension Amount: $1,630.02 ($2,919.62 X 55.83%) Effective: October 5, 2022 D. Case No. 3854 David Martin – Public Works Years of Service: 25 Years, 0 Months Basis: Service Age: 54 Not Married Average Final Compensation: $3,887.45 Monthly Pension Amount: $1,943.73 ($3,887.45 X 50%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount $1,744.30 Effective: October 21, 2022 E. Case No. 3855 Beverly Orange – Development Services Years of Service: 40 Years, 0 Months Basis: Service Age: 60 Not Married Average Final Compensation: $5,722.59 Monthly Pension Amount: $4,578.07 ($5,722.59 X 80%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,363.21 Effective: October 7, 2022 F. Case No. 3856 Shelley Walton – Public Works Years of Service: 9 Years, 2 Months  Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,363.21 Effective: October 7, 2022 F. Case No. 3856 Shelley Walton – Public Works Years of Service: 9 Years, 2 Months Basis: Service Age: 68 Not Married Average Final Compensation: $6,529.37 Monthly Pension Amount: $1,196.83 ($6,529.37 X 18.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $948.84 Effective: October 28, 2022 VII. 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. 2773 David Behr – Died September 16, 2022 Monthly Pension Amount: $778.55 No Option Pension to cease September 30, 2022 B. Case No. 2903 Ernest Dewitt – Died September 30, 2022 Monthly Pension Amount: $2,250.61 Option A – Pending Spouse Application Pension to cease September 30, 2022 C. Case No. 2111 Dale Howe – Died August 2, 2022 Monthly Pension Amount: $2,084.72 Option C – Spouse Predeceased Pension to cease August 31, 2022 D. Case No. 1849 Sheila Morgan – Died September 14, 2022 Monthly Pension Amount: $747.87 No Option Pension to cease September 30, 2022 E. Case No. 1662 Lonnie Shockley – Died September 20, 2022 Monthly Pension Amount: $2,388.93 No Option Pension to cease September 30, 2022 F. Case No. 3162 Sammy Wallace – Died August 28, 2022 Monthly Pension Amount: $3,306.63 No Option Pension to cease August 31, 2022 G. Case No. 1490 John Zeigler – Died August 22, 2022 Monthly Pension Amount: $898.79  No Option Pension to cease August 31, 2022 G. Case No. 1490 John Zeigler – Died August 22, 2022 Monthly Pension Amount: $898.79 No Option Pension to cease August 31, 2022 VIII. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2064A Joyce Carolina – Died August 15, 2022 Monthly Pension Amount: $2,618.35 No Beneficiary Pension to cease August 31, 2022 IX. APPROVE the following applications of Vested Rights. A. Case No. 3857 Amanda Carpenter – Municipal Counselor’s Office Years of Service: 15 Years, 11 Months Basis: Vested Rights Age: 42 Not Married Average Final Compensation: $15,517.48 Monthly Pension Amount: $4,939.21 ($15,517.48 X 31.83%) Effective: Age 65 X. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3816 Keith Duncan – Airports Years of Service: 16 Years, 7 Months Basis: Vested Rights Age: 55 Spouse: 52 Option A Average Final Compensation: $7,591.22 Monthly Pension Benefit: $1,357.27 ($7,591.22 X 33.17% less 40% for early retirement X .89837) Effective: August 10, 2022 XI. INDIVIDUAL CONSIDERATION: A. Resolution recommending the City Council adopt an Ordinance relating to Personnel and Retirement Systems, amending Section 40­79 of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, amending the cost of living adjustments to permit the payment of a stipend to retirees who are eligible for a cost of living adjustment; providing for codification. B. Resolution recommending the City Council adopt an Ordinance relating to Personnel and Retirement Systems, amending the Oklahoma City Municipal Code, 2020, Chapter 40, Article III, Division 1, Part B, General Provisions, by amending Section 40­86 with respect to the latest date for commencement of payment of  retirees who are eligible for a cost of living adjustment; providing for codification. B. Resolution recommending the City Council adopt an Ordinance relating to Personnel and Retirement Systems, amending the Oklahoma City Municipal Code, 2020, Chapter 40, Article III, Division 1, Part B, General Provisions, by amending Section 40­86 with respect to the latest date for commencement of payment of benefits; amending Chapter 40, Article III, Division 2, Deferred Compensation Program, by establishing a new Part A; by amending Section 40­131, to expand the definition of Deferred Compensation Plans and amending Section 40­132 to clarify employee participation in Deferred Compensation Plans; by adding a new Part B to include new Section 40­133, creating the Deferred Compensation Board, establishing membership on the Board, setting general powers of the Board and related provisions; amending Chapter 40, Article III, Division 5, Healthcare and Insurance Benefits for retirees, survivors and disabled employees, by amending Section 40­203, to update the deadline for the timing of an affirmative election to participate in healthcare and insurance benefits, and provide for an effective date of coverage. C. Authorize the OCERS Retirement System Manager to serve as a board member for the Oklahoma Public Funds Trustee Education Conference Association. XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.