Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA June 08, 2023 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Jacqueline Ames Brent Bryant Sri Jonnada Vacant 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 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  200 N. Walker Avenue – 3rd Floor – Council Chamber MEETING INFORMATION 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, June 08, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of May 11, 2023. III. CONSENT DOCKET: A. OCERS Election Results. B. ProPetro Holding Corp. class action settlement proceeds in the amount of $7,798.70. C. Report of judgments purchased for the month of May 2023 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, June 08, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of May 11, 2023. III. CONSENT DOCKET: A. OCERS Election Results. B. ProPetro Holding Corp. class action settlement proceeds in the amount of $7,798.70. C. Report of judgments purchased for the month of May 2023 in the amount of $227,647.18. D. Annual Actuarial Valuation Report as of December 31, 2022. IV. RATIFY APPROVALS: A. Payroll for the month of May 2023, in the amount of $3,917,333.67. B. Registration fee totaling $990 for sending attendee to the National Association of Public Pension Attorney’s 2023 Legal Education Conference, July 27, 2023 through July 30, 2023, in San Antonio, Texas. C. Payment of claim to The City of Oklahoma City in the amount of $13,574.00 for FY 2022 and FY2023 Print Shop Chargebacks. D. Payment of claim to The City of Oklahoma City in the amount of $1,662.64 for April 2023 Postage Chargeback. E. Payment of claim to The City of Oklahoma City in the amount of $34,687.00 for 4Q23 Admin Chargeback. F. Payment of claim to The City of Oklahoma City in the amount of $11,585.56 for 4Q23 IT Chargeback. V. APPROVE claims docket. A. Claims to be approved. VI. APPROVE the following applications for Service Retirement. A. Case No. 3904 John Cravens – Development Services Years of Service: 30 Years, 0 Months Basis: Service Age: 64 Spouse: 57 Option B Average Final Compensation: $4,803.51 Monthly Pension Amount: $2,507.75 ($4,803.51 X 60% X .87011) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,308.37  Basis: Service Age: 64 Spouse: 57 Option B Average Final Compensation: $4,803.51 Monthly Pension Amount: $2,507.75 ($4,803.51 X 60% X .87011) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $2,308.37 Effective: June 1, 2023 B. Case No. 3905 Christine Fogt – Information Technology Years of Service: 38 Years, 9 Months Basis: Service Age: 57 Not Married Average Final Compensation: $6,660.39 Monthly Pension Amount: $5,161.80 ($6,660.39 X 77.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $4,955.40 Effective: March 28, 2023 C. Case No. 3906 Thomas Patterson, Jr. – General Services Years of Service: 23 Years, 11 Months Basis: Service Age: 67 Spouse: 75 Option C Average Final Compensation: $5,349.05 Monthly Pension Amount: $2,439.43 ($5,349.05 X 47.83% X .95348) Effective: June 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. 1575 Harold Peters – Died April 28, 2023 Monthly Pension Amount: $1,171.51 Option C Pension to cease: April 30, 2023 B. Case No. 1575A Margarete Peters – Widow of Harold Peters Monthly Pension Amount: $585.76 ($1,171.51 X 50%) Effective date: May 1, 2023 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. 2432 Arthur Daniels – Died April 27, 2023 Monthly Pension Amount: $967.98 No Beneficiary Pension to cease: April 30, 2023 B. Case No. 1301 Edith Hankins – Died May 31, 2023 Monthly Pension Amount: $506.28 No Beneficiary Pension to cease: May 31, 2023  B. Case No. 1301 Edith Hankins – Died May 31, 2023 Monthly Pension Amount: $506.28 No Beneficiary Pension to cease: May 31, 2023 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 3559A Rosetta Antwine – Died April 22, 2023 Monthly Pension Amount: $526.78 No Beneficiary Pension to cease: April 30, 2023 B. Case No. 2538A Rita Rigsby – Died April 29, 2023 Monthly Pension Amount: $2,631.44 No Beneficiary Pension to cease: April 30, 2023 X. APPROVE request of the following to terminate Vested Rights and receive a lump sum distribution of his/her Employee Contribution Account. A. Case No. 3169 Jesse Rossen – Utilities Years of Service: 15 Years, 8 Months Basis: Vested Rights Age: 53 Not Married Average Final Compensation: $3,722.55 Monthly Pension Amount: $1,166.27 ($3,722.55 X 31.33%) Employee Contributions Account: $35,377.49 XI. INDIVIDUAL CONSIDERATION: A. Approve sending attendees to the Oklahoma Public Funds Trustee Educational Conference, September 27, 2023 through September 29, 2023, in Durant, Oklahoma. B. Fiscal Year 2023 – 2024 Oklahoma City Employee Retirement System Budget. C. Agreement between the Oklahoma City Employee Retirement System and The City of Oklahoma City regarding the City’s obligation to provide certain professional and nonprofessional services and office rental to the Oklahoma City Employee Retirement System and for the Retirement System to provide certain professional services for the City, fee of $205,086.97, for the period July 1, 2023 through June 30, 2024. D. Administrative Services Agreement with the Oklahoma City Deferred Compensation Board and The City of Oklahoma City, to provide administration of the 457 Deferred Compensation Plans and the Money Purchase Plan & Trust No. 8751 and No. 7697, July 1, 2023 through June 30, 2024, revenue of $44,000. E. Actuarial Services Agreement with Gabriel, Roeder, Smith & Company to provide actuarial consulting services for the annual valuation through the period of  the 457 Deferred Compensation Plans and the Money Purchase Plan & Trust No. 8751 and No. 7697, July 1, 2023 through June 30, 2024, revenue of $44,000. E. Actuarial Services Agreement with Gabriel, Roeder, Smith & Company to provide actuarial consulting services for the annual valuation through the period of December 31, 2025. XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.