Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA January 13, 2023 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, January 13, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 8, 2022. III. CONSENT DOCKET: A. SCANA Coproration class action settlement proceeds in the amount of 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, January 13, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of December 8, 2022. III. CONSENT DOCKET: A. SCANA Coproration class action settlement proceeds in the amount of $1,174.71. B. Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2021 and 2022. C. Report of judgments purchased for the month of December 2022, in the amount of $306,992.36. IV. RATIFY APPROVALS: A. Payroll for the month of December 2022, in the amount of $3,777,508.54. B. Payment of claim to The City of Oklahoma City in the amount of $47.18 for November 2022 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. 3774 Ross Craig – General Services Years of Service: 30 Years, 0 Months Basis: Service Age: 62 Spouse: 59 Option A Average Final Compensation: From: $7,085.92 To: $7,121.86 Monthly Pension Amount: From: $3,681.88 ($7,085.92 X 60% X .86601) To: $3,700.56 ($7,121.86 X 60% X .86601) Effective: December 28, 2021 2. Case No. 3775 Diana Dean – Planning Years of Service: 21 Years, 0 Months Basis: Service Age: 62 Not Married Average Final Compensation: From $6,486.80 To: $6,488.50 Monthly Pension Amount: From: $2,397.52 ($6,486.80 X 42% less 12% for early retirement) To: $2,398.15 ($6,488.50 X 42% less 12% for early retirement) Effective: December 3, 2021 3. Case No. 3763 Donna Fitzgerald – Police Years of Service: 31 Years, 0 Months  for early retirement) Effective: December 3, 2021 3. Case No. 3763 Donna Fitzgerald – Police Years of Service: 31 Years, 0 Months Basis: Service Age: 59 Not Married Average Final Compensation: From: $4,530.90 To: $4,580.20 Monthly Pension Amount: From: $2,809.16 ($4,530.90 X 62%) To: $2,839.72 ($4,580.20 X 62%) Effective: October 29, 2021 4. Case No. 3776 Calena Groves – Police Years of Service: 34 Years, 8 Months Basis: Service Age: 66 Not Married Average Final Compensation: From: $7,488.82 To: $7,540.64 Monthly Pension Amount: From: $5,192.00 ($7,488.82 X 69.33%) To: $5,227.93 ($7,540.64 X 69.33%) Effective: December 31, 2021 5. Case No. 3403 Marla Moore – Zoo Years of Service: 15 Years, 2 Months Basis: Service Age: 62 Not Married Average Final Compensation: From: $3,088.75 To: $3,090.14 Monthly Pension Amount: From $824.40 ($3,088.75 X 30.33% less 12% for early retirement) To: $824.77 ($3,090.14 X 30.33% less 12% for early retirement) Effective: May 28, 2021 6. Case No. 3768 Bruce Motley – Utilities Years of Service: 32 Years, 10 Months Basis: Service Age: 63 Not Married Average Final Compensation: From: $5,229.75 To: $5,230.43 Monthly Pension Amount: From: $3,434.38 ($5,229.75 X 65.67%) To: $3,434.82 ($5,230.43 X 65.67%) Effective: October 1, 2021 6. Case No. 3617 Randal Moulder – Public Works Years of Service: 37 Years, 8 Months Basis: Service Age: 59 Spouse: 57 Option C Average Final Compensation: From $10,142.00 To: $10,160.22 Monthly Pension Amount: From: $7,210.60 ($10,142.00 X 75.33% X .94380) To: $7,223.55 ($10,160.22 X 75.33% X .94380) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $7,018.88 To: $7,031.83  Average Final Compensation: From $10,142.00 To: $10,160.22 Monthly Pension Amount: From: $7,210.60 ($10,142.00 X 75.33% X .94380) To: $7,223.55 ($10,160.22 X 75.33% X .94380) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $7,018.88 To: $7,031.83 Effective: March 20, 2020 7. Case No. 3521 Kevin Mysinger – Utilities Years of Service: 23 Years, 0 Months Basis: Service Age: 63 Spouse: 67 Option A Average Final Compensation: From $6,651.94 To $6,652.72 Monthly Pension Amount: From: $2,548.65 ($6,651.94 X 46% less 8% for early retirement X .90535) To: $2,548.95 ($6,652.72 X 46% less 8% for early retirement X .90535) Effective: May 24, 2019 8. Case No. 3674 Iris Newman – Transit Years of Service: 19 Years, 3 Months Basis: Service Age: 57 Not Married Average Final Compensation: From: $5,274.92 To: $5,274.87 Monthly Pension Amount: From: $1,380.97 ($5,274.92 X 38.5% less 32% for early retirement) To: $1,380.96 ($5,274.87 X 38.5% less 32% for early retirement) Effective: August 21, 2020 9. Case No. 3676 Larry Ponder – Parks Years of Service: 8 Years, 1 Month Basis: Service Age: 58 Not Married Average Final Compensation: From: $3,404.39 To: $3,405.23 Monthly Pension Amount: From: $396.35 ($3,404.39 X 16.17% less 28% for early retirement) To: $396.45 ($3,405.23 X 16.17% less 28% for early retirement) Effective: February 4, 2020 10. Case No. 3597 William Prater – Utilities Years of Service: 29 Years, 0 Months Basis: Service Age: 64 Spouse: 58 No Option Average Final Compensation: From: $6,101.45 To: $6,127.02 Monthly Pension Amount: From: $3,538.84 ($6,101.45 X 58%) To: $3,553.67 ($6,127.02 X 58%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount From: $3,312.28 To: $3,327.11 Effective: January 10, 2020 11. Case No. 3640 Gary Roberts – Police  $3,312.28 To: $3,327.11 Effective: January 10, 2020 11. Case No. 3640 Gary Roberts – Police Years of Service: 22 Years, 11 Months Basis: Service Age: 62 Spouse: 59 Option A Average Final Compensation: From: $5,524.04 To: $5,525.80 Monthly Pension Amount: From: $1,940.16 ($5,524.04 X 45.83% less 12% for early retirement X .87086) To: $1,940.77 ($5,525.80 X 45.83% less 12% for early retirement X .87086) Effective: May 19, 2020 12. Case No. 3777 Douglas Robertson – Development Services Years of Service: 8 Years, 9 Months Basis: Service Age: 71 Not Married Average Final Compensation: From: $4,507.11 To: $4,552.18 Monthly Pension Amount: From: $788.74 ($4,507.11 X 17.5%) To: $796.63 ($4,552.18 X 17.5%) Effective: December 31, 2021 13. Case No. 3619 Melisa Rousey – Transit Years of Service: 33 Years, 9 Months Basis: Service Age: 58 Spouse: 58 Option C Average Final Compensation: From: $7,622.07 To: $7,623.10 Monthly Pension Amount: From: $4,895.78 ($7,622.07 X 67.5% X .95158) To: $4,896.44 ($7,623.10 X 67.5% X .95158) Effective: March 28, 2020 14. Case No. 3684 John Salame – General Services Years of Service: 25 Years, 0 Months Basis: Service Age: 64 Spouse: 69 Option A Average Final Compensation: From: $4,503.30 To: $4,502.38 Monthly Pension Amount: From: $2,251.65 ($4,503.30 X 50%) To: $2,251.19 ($4,502.38 X 50%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $1,837.69 To: $1,837.27 Effective: September 4, 2020 15. Case No. 3599 Sam Samandi – Utilities Years of Service: 35 Years, 0 Months Basis: Service Age: 62 Spouse: 64 No Option Average Final Compensation: From: $10,059.03 To: $10,098.80 Monthly Pension Amount: From: $7,041.32 ($10,059.03 X 70%) To: $7,069.16 ($10,098.80 X 70%)  Basis: Service Age: 62 Spouse: 64 No Option Average Final Compensation: From: $10,059.03 To: $10,098.80 Monthly Pension Amount: From: $7,041.32 ($10,059.03 X 70%) To: $7,069.16 ($10,098.80 X 70%) Effective: January 25, 2020 16. Case No. 3677 Jose Sanchez – Courts Years of Service: 15 Years, 1 Month Basis: Service Age: 65 Spouse: 70 Option A Average Final Compensation: From: $2,915.77 To: $2,914.05 Monthly Pension Amount: From: $795.22 ($2,915.77 X 30.17% X .90398) To: $794.75 ($2,914.05 X 30.17% X .90398) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: From: $595.44 To: $594.97 Effective: July 1, 2020 17. Case No. 3622 Max Sanders – Utilities Years of Service: 11 Years, 4 Months Basis: Service Age: 66 Not Married Average Final Compensation: From $5,353.31 To: $5,392.64 Monthly Pension Amount: From: $1,213.60 ($5,353.31 X 22.67%) To: $1,222.51 ($5,392.64 X 22.67%)’ Lump Sum Elected $30,000 Reduced Monthly Pension Amount From: $986.78 To: $995.69 Effective: April 4, 2020 18. Case No. 3769 Terry Slaughter – Development Services Years of Service: 12 Years, 11 Months Basis: Service Age: 62 Spouse: 64 Option A Average Final Compensation: From: $5,024.45 To: $5,049.28 Monthly Pension Amount: From: $1,017.87 ($5,024.45 X 25.83% X .89124 less 12% for early retirement) To: $1,022.89 ($5,049.28 X 25.83% X .89124 less 12% for early retirement) Effective: October 8, 2021 19. Case No. 3770 Adrain Snider – Public Works Years of Service: 44 Years, 8 Months Basis: Service Age: 65 Spouse: 64 Option C Average Final Compensation: From $4,799.16 To: $4,804.54 Monthly Pension Amount: From: $3,968.73 ($4,799.16 X 89.33% X .92574) To: $3,973.18 ($4,804.54 X 89.33% X .92574) Effective: October 16, 2021 20. Case No. 3641 Robert Thornton – Public Works  .92574) To: $3,973.18 ($4,804.54 X 89.33% X .92574) Effective: October 16, 2021 20. Case No. 3641 Robert Thornton – Public Works Years of Service: 25 Years, 7 Months Basis: Service Age: 48 Spouse: 45 Option A Average Final Compensation: From: $3,625.81 To: $3,625.55 Monthly Pension Amount: From: $1,744.47 ($3,625.81 X 51.17% X .94025) To: $1,744.34 ($3,625.55 X 51.17% X .94025) Lump Sum Elected $30,000 Reduced Monthly Pension Amount From: $1,582.38 To: $1,582.25 Effective: May 23, 2020 21. Case No. 3620 James True – Airports Years of Service: 13 Years, 4 Months Basis: Service Age: 64 Spouse: 65 Option B Average Final Compensation: From: $5,261.42 To: $5,248.01 Monthly Pension Amount: From: $1,225.46 ($5,261.42 X 26.67% less 4% for early retirement X .90971) To: $1,222.33 ($5,248.01 X 26.67% less 4% for early retirement X .90971) Effective: March 6, 2020 22. Case No. 3609 Elroy Vaughn – Utilities Years of Service: 18 Years, 4 Months Basis: Service Age: 61 Not Married Average Final Compensation: From: $4,604.70 To: $4,615.21 Monthly Pension Amount: From: $1,418.37 ($4,604.70 X 36.67% less 16% for early retirement) To: $1,421.62 ($4,615.21 X 36.67% less 16% for early retirement) Effective: February 1, 2020 23. Case No. 3259 Terri Ward – Police Years of Service: 18 Years, 3 Months Basis: Service Age: 56 Not Married Average Final Compensation: From: $4,549.58 To: $4,551.26 Monthly Pension Amount: From: $1,062.78 ($4,549.58 X 36.5% less 36% for early retirement) To: $1,063.17 ($4,551.26 X 36.5% less 36% for early retirement) Effective: June 6, 2020 V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3872  A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3872 Micki Carney – Police Years of Service: 32 Years, 6 Months Basis: Service Age: 62 Spouse: 69 Option B Average Final Compensation: $7,827.95 Monthly Pension Amount: $4,761.97 ($7,827.95 X 65% X .93589) Effective: January 19, 2023 B. Case No. 3873 Gregory Harris – Utilities Years of Service: 25 Years, 1 Month Basis: Service Age: 61 Spouse: 57 Option C Average Final Compensation: $4,590.63 Monthly Pension Amount: $2,138.33 ($4,590.63 X 50.17% X .92845) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,935.86 Effective: January 10, 2023 C. Case No. 3874 Dale Hartman – Development Services Years of Service: 17 Years, 5 Months Basis: Service Age: 66 Spouse: 63 Option A Average Final Compensation: $7,048.35 Monthly Pension Amount: $2,072.63 ($7,048.35 X 34.83% X .84427) Effective: January 6, 2023 D. Case No. 3875 Kenneth Hovey – Airports Years of Service: 8 Years, 10 Months Basis: Service Age: 60 Not Married Average Final Compensation: $3,777.42 Monthly Pension Amount: $533.98 ($3,777.42 X 17.67% less 20% for early retirement) Effective: July 26, 2022​ E. Case No. 3876 Karen Johnson – City Manager’s Office Years of Service: 15 Years, 3 Months Basis: Service Age: 66 Not Married Average Final Compensation: $5,322.61 Monthly Pension Amount: $1,623.40 ($5,322.61 X 30.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,385.49 Effective: January 6, 2023 F. Case No. 3877 Tracy Lane – Utilities  Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,385.49 Effective: January 6, 2023 F. Case No. 3877 Tracy Lane – Utilities Years of Service: 17 Years, 6 Months Basis: Service Age: 66 Spouse: 66 Option A Average Final Compensation: $4,923.35 Monthly Pension Amount: $1,487.30 ($4,923.35 X 35% X .86312) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $1,281.96 Effective: December 3, 2022 G. Case No. 3878 Shanea Scully – Fire Years of Service: 29 Years, 10 Months Basis: Service Age: 51 Spouse: 61 Option A Average Final Compensation: $5,575.35 Monthly Pension Amount: $3,154.95 ($5,575.35 X 59.67% X .94834) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,971.32 Effective: January 20, 2023 H. Case No. 3879 Allen Stanford – Information Technology Years of Service: 26 Years, 4 Months Basis: Service Age: 66 Spouse: 64 Option A Average Final Compensation: $5,773.01 Monthly Pension Amount: $2,586.03 ($5,773.01 X 52.67% X .85049) Effective: January 6, 2023 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 2058 Robert Ferguson – Died December 3, 2022 Monthly Pension Amount: $3,043.51 Option C Pension to cease December 31, 2022 B. Case No. 2058A Laura Ferguson – Widow of Robert Ferguson Monthly Pension Amount $1,521.76 ($3,043.51 X 50%) Effective: January 1, 2023 C. Case No. 3626 Scott Opheim – Died December 4, 2020 Monthly Pension Amount: $244.97 Option A Pension to cease December 31, 2020 D. Case No. 3626A Cindy Opheim – Widow of Scott Opheim  Option A Pension to cease December 31, 2020 D. Case No. 3626A Cindy Opheim – Widow of Scott Opheim Monthly Pension Amount $244.97 ($244.97 X 100%) Effective: January 1, 2021 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. 1408 Lloyd Adams – Died January 2, 2023 Monthly Pension Amount: $1,643.09 No Beneficiary Pension to cease January 31, 2023 B. Case No. 2217 Betty Gilbert – Died November 17, 2022 Monthly Pension Amount: $652.86 No Beneficiary Pension to cease November 30, 2022 (December 2022 payment recalled) C. Case No. 1799 Jerry Kapka – Died December 1, 2022 Monthly Pension Amount: $2,916.93 Option C – Pending Spouse Application Pension to cease December 31, 2022 D. Case No. 2935 Brian McKeever – Died November 23, 2022 Monthly Pension Amount: $1,842.62 Option A – Pending Spouse Application Pension to cease November 30, 2022 (December 2022 payment recalled) E. Case No. 2055 James Waller – Died December 21, 2022 Monthly Pension Amount: $965.81 No Beneficiary Pension to cease December 31, 2022 F. Case No. 3495 Tracy Willis – Died December 27, 2022 Monthly Pension Amount: $512.43 No Beneficiary Pension to cease December 31, 2022 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1519A Barbara Jorgensen – Died December 16, 2022 Monthly Pension Amount: $1,211.09 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1519A Barbara Jorgensen – Died December 16, 2022 Monthly Pension Amount: $1,211.09 No Beneficiary Pension to cease December 31, 2022 X. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3278 James Roys – General Services Years of Service: 22 Years, 8 Months Basis: Vested Rights Age: 59 Not Married Average Final Compensation: $6,447.38 Monthly Pension Amount: $2,221.18 ($6,447.38 X 45.33% less early retirement penalty of 24%) Effective: November 17, 2022 XI. APPROVE request of the following to terminate Vested Rights and receive a lump sum distribution of his/her Employee Contribution Account. A. Case No. 3086 Candace Johnson – Public Works Years of Service: 7 Years, 9 Months Basis: Vested Rights Age: 41 Spouse: 42 Average Final Compensation: $4,881.32 Monthly Pension Amount: $756.60 ($4,881.32 X 15.5%) Employee Contribution Amount: $26,584.14 XII. INDIVIDUAL CONSIDERATION: A. Interest rate to be applied to Employee Contributions for the period January 1, 2022 through December 31, 2022. B. Cost of living adjustment to be granted to eligible retirees effective January 1, 2023. C. Stipend be granted to eligible retirees effective January 1, 2023. XIII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.