Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA November 10, 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, November 10, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of October 13, 2022. III. CONSENT DOCKET: A. Judgments for the month of October 2022, in the amount of $317,058.00. 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 10, 2022 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of October 13, 2022. III. CONSENT DOCKET: A. Judgments for the month of October 2022, in the amount of $317,058.00. IV. RATIFY APPROVALS: A. Ratify actions of the Chairman in executing retainer agreement with Grant & Eisenhofer P.A. to represent OCERS in a securities class action against Outset Medical, Inc. in which OCERS will participate as lead plantiff. B. Payment of claim to The City of Oklahoma City in the amount of $1,514.22 for September 2022 Print Shop – Postage charges. C. The action of the Secretary and Administrator in modifying the applications due to a change in the Average Final Compensation and Monthly Pension Amount. 1. Case No. 3679 Richard Tracy – Utilities Years of Service: 32 Years, 2 Months Basis: Service Age: 62 Spouse: 52 Option C Average Final Compensation: From: $6,925.11 To: $6,930.88 Monthly Pension Amount: From: $4,053.67 ($6,925.11 X 64.33% X .90993) To: $4,057.05 ($6,930.88 X 64.33% X .90993) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $3,856.87 To: $3,860.25 Effective: August 7, 2020 2. Case No. 3610 James Wood – Golf Years of Service: 21 Years, 10 Months Basis: Service Age: 65 Spouse: 65 Option B Average Final Compensation: From: $6,517.96 To: $6,534.83 Monthly Pension Amount: From: $2,563.20 ($6,517.96 X 43.67% X .90051) To: $2,569.84 ($6,534.83 X 43.67% X .90051) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $2,364.19 To: $2,370.83 Effective: February 1, 2020 3. Case No. 3629 Mary Wood – Parks Years of Service: 28 Years, 10 Months  From: $2,364.19 To: $2,370.83 Effective: February 1, 2020 3. Case No. 3629 Mary Wood – Parks Years of Service: 28 Years, 10 Months Basis: Service Age: 64 Spouse: 72 No Option Average Final Compensation: From: $6,379.03 To: $6,381.38 Monthly Pension Amount: From: $3,678.79 ($6,379.03 X 57.67%) To: $3,680.14 ($6,381.38 X 57.67%) Effective: March 28, 2020 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3858 Daniel Churchill – Development Services Years of Service: 25 Years, 2 Months Basis: Service Age: 61 Spouse: 61 Option A Average Final Compensation: $7,497.34 Monthly Pension Amount: $3,340.64 ($7,497.34 X 50.33% X .88531) Effective: October 7, 2022 B. Case No. 3859 Reginald Dotson – Airports Years of Service: 15 Years, 10 Months Basis: Service Age: 65 Spouse: 68 Option A Average Final Compensation: $5,764.56 Monthly Pension Amount: $1,617.15 ($5,764.56 X 31.67% X .8858) Effective: November 1, 2022 C. Case No. 3860 Chris Hamilton – Parks Years of Service: 29 Years, 9 Months Basis: Service Age: 55 Spouse: 55 Option A Average Final Compensation: $9,508.15 Monthly Pension Amount: $5,139.25 ($9,508.15 X 59.5% X .90842) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,956.10 Effective: November 11, 2022 D. Case No. 3861 Yvonna Hill – Police Years of Service: 33 Years, 8 Months Basis: Service Age: 56 Not Married Average Final Compensation: $7,363.28 Monthly Pension Amount: $4,957.70 ($7,363.28 X 67.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,753.77  Years of Service: 33 Years, 8 Months Basis: Service Age: 56 Not Married Average Final Compensation: $7,363.28 Monthly Pension Amount: $4,957.70 ($7,363.28 X 67.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,753.77 Effective: November 2, 2022 E. Case No. 3862 Fritziene Lothlen – Police Years of Service: 8 Years, 5 Months Basis: Service Age: 64 Not Married Average Final Compensation: $3,275.38 Monthly Pension Amount: $529.20 ($3,275.38 X 16.83% less 4% for early retirement) Effective: November 2, 2022 F. Case No. 3863 Charles Thompson – Airports Years of Service: 31 Years, 1 Month Basis: Service Age: 60 Not Married Average Final Compensation: $7,703.52 Monthly Pension Amount: $4,789.28 ($7,703.52 X 62.17%) Effective: November 11, 2022 VII. APPROVE continuation to spouse. A. Case No. 2903 Ernest Dewitt – Died September 30, 2022 Monthly Pension Amount: $2,250.61 Option A Pension to cease September 30, 2022 B. Case No. 2903A Sherral Dewitt – Widow of Ernest Dewitt Monthly Pension Amount: $2,250.61 ($2,250.61 X 100%) Effective: October 1, 2022 VIII. 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. 1960 Leetta Harrison – Died October 25, 2022 Monthly Pension Benefit: $659.04 No Option Pension to cease October 31, 2022 IX. INDIVIDUAL CONSIDERATION: A. Approve ERS pay plan retroactive to July 1, 2022 and payment of a one­time lump sum individual stipend. B. Receive Monthly Investment Report. IX. INDIVIDUAL CONSIDERATION: A. Approve ERS pay plan retroactive to July 1, 2022 and payment of a one­time lump sum individual stipend. B. Receive Monthly Investment Report. C. Receive Quarterly Investment Report. D. Receive Private Equity Portfolio Review and Recommendation. E. Commitment of $10 million to Clayton, Dubilier and Rice Fund XII. X. Comments from Board, Staff and Citizens. XI. Adjournment.