Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA August 10, 2023 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Brent Bryant Bruce Davis Doug Dowler Sri Jonnada 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 agenda coordinator at 297­2408 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 agenda 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  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 agenda coordinator at 297­2408 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 agenda 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, August 10, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of July 13, 2023. III. PRESENTATION A. Presentation by Lazard Asset Management. IV. CONSENT DOCKET: A. Report of judgments purchased for the month of July 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, August 10, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of July 13, 2023. III. PRESENTATION A. Presentation by Lazard Asset Management. IV. CONSENT DOCKET: A. Report of judgments purchased for the month of July 2023 in the amount of $357,818.52. B. RealReal Inc. class action settlement proceeds in the amount of $1,907.95. C. Credit Acceptance Corporation class action settlement proceeds in the amount of $612.18. V. RATIFY APPROVALS: A. Payroll for the month of July 2023, in the amount of $3,969,180.66. B. Payment of claim to The City of Oklahoma City in the amount of $1.54 for June 2023 Color Copies Chargeback. C. Payment of claim to The City of Oklahoma City in the amount of $2,448.01 for June 2023 Postage Chargeback. VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 3914 Terry Brunkhurst – Fire Years of Service: 5 Years, 2 Months Basis: Service Age: 65 Spouse: 53 No Option Average Final Compensation: $3,658.42 Monthly Pension Amount: $377.91 ($3,658.42 X 10.33%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount $144.53 Effective: August 1, 2023 B. Case No. 3915 Mark Chilcoat – Parks & Recreation Years of Service: 16 Years, 0 Months Basis: Service Age: 65 Spouse: 65 Option A  B. Case No. 3915 Mark Chilcoat – Parks & Recreation Years of Service: 16 Years, 0 Months Basis: Service Age: 65 Spouse: 65 Option A Average Final Compensation: $4,903.24 Monthly Pension Amount: $1,361.53 ($4,903.24 X 32% X .86775) Effective: August 2, 2023 C. Case No. 3916 Alicia Gray – Finance Years of Service: 25 Years, 9 Months Basis: Service Age: 63 Not Married Average Final Compensation: $7,126.50 Monthly Pension Amount: $3,670.15 ($7,126.50 X 51.5%) Lump Sum Elected $30,000 Reduced Monthly Pension Amount: $3,444.94 Effective: August 4, 2023 D. Case No. 3917 Rock Holland – Courts Years of Service: 25 Years, 0 Months Basis: Service Age: 51 Spouse: 54 Option A Average Final Compensation: $6,336.67 Monthly Pension Amount: $2,946.24 ($6,336.67 X 50% X .9299) Effective: August 8, 2023 E. Case No. 3918 Gregory Taylor – Police Years of Service: 5 Years, 0 Months Basis: Service Age: 67 Spouse: 68 Option A Average Final Compensation: $5,639.54 Monthly Pension Amount: $487.90 ($5,639.54 X 10% X .86514) Effective: August 4, 2023 F. Case No. 3919 Eddie Witte – Zoo Years of Service: 38 Years, 6 Months Basis: Service Age: 60 Spouse: 57 Option A Average Final Compensation: $5,370.74 Monthly Pension Amount: $3,622.75 ($5,370.74 X 77% X .87602) Effective: March 2, 2023 VIII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 1757 Lloyd Stewart – Died July 3, 2023 Monthly Pension Amount: $1,862.08 Option C Pension to cease July 31, 2023  A. Case No. 1757 Lloyd Stewart – Died July 3, 2023 Monthly Pension Amount: $1,862.08 Option C Pension to cease July 31, 2023 B. Case No. 1757A Shirley Stewart – Widow of Lloyd Stewart Pension Payment Amount: $931.04 ($1,862.08 X 50%) Effective: August 1, 2023 C. Case No. 1429 Claude Cubit – Died July 15, 2023 Monthly Pension Amount: $1,574.25 Option B Pension to cease July 31, 2023 D. Case No. 1429A Bettye Cubit – Widow of Claude Cubit Pension Payment Amount: $1,180.69 ($1,574.25 X 75%) Effective: August 1, 2023 IX. 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. 1946 Richard Alderson – Died February 22, 2023 Monthly Pension Amount: $942.47 No Beneficiary Pension to cease: February 28, 2023 (Payments recalled for March, April, May, and June 2023) B. Case No. 2973 Virgil Davis – Died July 19, 2023 Monthly Pension Amount: $2,600.26 No Beneficiary Pension to cease: July 31, 2023 C. Case No. 2277 Joseph Fee, Jr. – Died July 2, 2023 Monthly Pension Payment: $3,635.16 No Beneficiary Pension to cease July 31, 2023 D. Case No. 1258 Kenneth Grisham – Died July 15, 2023 Monthly Pension Payment: $1,314.87 No Beneficiary Pension to cease July 31, 2023 E. Case No. 1680 Jean Harris – Died June 30, 2023 Monthly Pension Amount: $1,288.55 No Beneficiary Pension to cease June 30, 2023  E. Case No. 1680 Jean Harris – Died June 30, 2023 Monthly Pension Amount: $1,288.55 No Beneficiary Pension to cease June 30, 2023 F. Case No. 1278 Charles Huddleston – Died May 22, 2023 Monthly Pension Amount: $1,486.93 No Beneficiary Pension to cease May 31, 2023 (Payment recalled for June 2023) G. Case No. 2496 Paul Richenburg – Died July 17, 2023 Monthly Pension Amount: $2,607.26 Option A – Pending Spouse Application Pension to cease July 31, 2023 H. Case No. 1856 Cecil Walker – Died June 23, 2023 Monthly Pension Amount: $1,368.67 Option A – Spouse Predeceased Pension to cease June 30, 2023 I. Case No. 2413 Gregory Wilburn – Died July 18, 2023 Monthly Pension Amount: $1,617.63 No Beneficiary Pension to cease July 31, 2023 X. APPROVE the following applications of Vested Rights. A. Case No. 3920 Dominique Dawson – Utilities Years of Service: 5 Years, 7 Months Basis: Vested Rights Age: 65 Not Married Average Final Compensation: $2,940.48 Monthly Pension Amount: $328.48 ($2,940.48 X 11.17%) Effective: Age 65 XI. INDIVIDUAL CONSIDERATION: A. Purchase of record storage and scan­on­demand services from MidCon Data Services LLC, not to exceed $2,000.00. XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. B. Quarterly Investment Report. XIII. Comments from Board, Staff and Citizens.  B. Quarterly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.