Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA September 14, 2023 10:00 AM Paul Bronson, Chair Ken Culver, Vice­Chair Board Members: Brent Bryant Doug Dowler Bruce Davis 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 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  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 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, September 14, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of August 10, 2023. III. CONSENT DOCKET: A. Report of judgments purchased for the month of August 2023 in the amount of $216,747.61. B. Harborview MBS class action settlement proceeds in the amount of $1,206.71. C. WageWorks Inc. class action settlement proceeds in the amount of $19,020.84. 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, September 14, 2023 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of August 10, 2023. III. CONSENT DOCKET: A. Report of judgments purchased for the month of August 2023 in the amount of $216,747.61. B. Harborview MBS class action settlement proceeds in the amount of $1,206.71. C. WageWorks Inc. class action settlement proceeds in the amount of $19,020.84. IV. APPROVE claims docket. A. Claims to be approved. V. RATIFY APPROVALS: A. Payroll for the month of August 2023, in the amount of $3,931,132.31. B. Payment of claim to The City of Oklahoma City in the amount of $47.41 for July 2023 Postage Chargeback. C. The action of the Secretary and Administrator in modifying the application due to change in Average Final Compensation, Monthly Pension Amount, Name, and Age. 1. Case No. 3771 Zevely Booth – Utilities Years of Service: 27 Years, 1 Month Basis: Service Age: 57 Spouse: 59 Option B Average Final Compensation: From $8,743.95 To: $8,752.03 Monthly Pension Amount: From: $4,405.04 ($8,743.95 X 54.17% X.93) To: $4,409.10 ($8,752.03 X 54.17% X .93) Effective: October 23, 2021 2. Case No. 1429A From: Bettye Cubit To: Bettie Cubit – Widow of Claude Cubit Pension Payment Amount: $1,180.69 ($1,574.25 X 75%) Effective: August 1, 2023 3. Case No. 3920 Dominique Dawson – Utilities Years of Service: 5 Years, 7 Months Basis: Vested Rights Age: From: 65 To: 34 Not Married Average Final Compensation: $2,940.48  Dominique Dawson – Utilities Years of Service: 5 Years, 7 Months Basis: Vested Rights Age: From: 65 To: 34 Not Married Average Final Compensation: $2,940.48 Monthly Pension Amount: From: $328.48 To: $328.45 ($2,940.48 X 11.17%) Effective: Age 65 4. Case No. 3757 James Lewallen – Utilities Years of Service: 31 Years, 2 Months Basis: Service Age: 64 Spouse: 62 No Option Average Final Compensation: From: $4,350.43 To: $4,359.59 Monthly Pension Amount: From $2,711.62 ($4,350.43 X 62.33%) To: $2,717.33 ($4,359.59 X 62.33%) Effective: August 6, 2021 VI. APPROVE the following applications for Service Retirement. A. Case No. 3921 Kelley Garrett – Police Years of Service: 25 Years, 0 Months Basis: Service Age: 59 Not Married Average Final Compensation: $8,238.43 Monthly Pension Amount: $4,119.22 ($8,238.43 X 50%) Lump Sum Elected: $30,000 Reduced Monthly Pension Amount: $3,907.37 Effective Date: September 11, 2023 B. Case No. 3922 Scott Patterson – Parks & Recreation Years of Service: 18 Years, 1 Month Basis: Service Age: 63 Spouse: 69 Option A Average Final Compensation: $4,758.32 Monthly Pension Amount: $1,438.97 ($4,758.32 X 36.17% X .90879 less 8% for early retirement) Effective Date: September 1, 2023 C. Case No. 3923 Michael Sirotnak – Golf Years of Service: 11 Years, 5 Months Basis: Service Age: 66 Spouse: 67 No Option Average Final Compensation: $2,013.87 Monthly Pension Amount: $459.77 ($2,013.87 X 22.83%) Effective Date: September 1, 2023 D. Case No. 3924 Eric Wenger – Public Works Years of Service: 28 Years, 7 Months Basis: Service  D. Case No. 3924 Eric Wenger – Public Works Years of Service: 28 Years, 7 Months Basis: Service Age: 52 Spouse: 51 Option A Average Final Compensation: $18,571.25 Monthly Pension Amount: $9,723.00 ($18,571.25 X 57.17% X .91578) Effective Date: September 15, 2023 VII. RECEIVE report of death. AUTHORIZE payment of the $5,000 death benefit and APPROVE continuation of pension to spouse. A. Case No. 1701 Jerry Fent – Died August 14, 2023 Monthly Pension Amount: $4,571.96 Option C Pension to cease August 31, 2023 B. Case No. 1701A Margaret Fent – Widow of Jerry Fent Monthly Pension Amount: $2,285.98 ($4,571.96 X 50%) Effective Date: September 1, 2023 C. Case No. 2668 Hoa Tran – Died August 11, 2023 Monthly Pension Amount: $2,893.70 Option C Pension to cease: August 31, 2023 D. Case No. 2668A Nga Tran – Widow of Hoa Tran Monthly Pension Amount: $1,446.85 ($2,893.70 X 50%) Effective: September 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. 1553 Sella Lou Humphrey – Died July 22, 2023 Monthly Pension Amount: $441.29 No Beneficiary Pension to cease July 31, 2023 B. Case No. 2202 Marjorie Irvin – Died August 6, 2023 Monthly Pension Amount: $2,160.09 No Beneficiary Pension to cease August 31, 2023 C. Case No. 2583 Sandi Jones – Died July 11, 2023 Monthly Pension Amount: $1,045.47 No Beneficiary Pension to cease July 31, 2023  C. Case No. 2583 Sandi Jones – Died July 11, 2023 Monthly Pension Amount: $1,045.47 No Beneficiary Pension to cease July 31, 2023 D. Case No. 3158 Patricia Knight – Died August 17, 2023 Monthly Pension Amount: $1,874.06 Option B – Pending Spouse Application Pension to cease August 31, 2023 E. Case No. 2774 John Knipp – Died August 17, 2023 Monthly Pension Amount: $2,634.51 Option A – Pending Spouse Application Pension to cease August 31, 2023 F. Case No. 2204 Richard Mahan – Died August 6, 2023 Monthly Pension Amount: $2,084.25 No Beneficiary Pension to cease August 31, 2023 G. Case No. 2266 Robert Triplet, Sr. – Died August 22, 2023 Monthly Pension Amount: $2,667.90 No Beneficiary Pension to cease August 31, 2023 H. Case No. 2254 Sheila White – Died August 23, 2023 Monthly Pension Amount: $1,742.12 No Beneficiary Pension to cease: August 31, 2023 IX. APPROVE the following applications of Vested Rights. A. Case No. 3925 Tommi Aldridge – Utilities Years of Service: 5 Years, 2 Months Basis: Vested Service Age: 45 Spouse: 66 Average Final Compensation: $2,994.55 Monthly Pension Amount: $309.34 ($2,994.55 X 10.33%) Effective: Age 65 B. Case No. 3926 Inger Peters – Public Works Years of Service: 5 Years, 2 Months Basis: Vested Rights Age: 52 Spouse: 56 Average Final Compensation: $6,367.18 Monthly Pension Amount: $657.73 ($6,367.18 X 10.33%)  Inger Peters – Public Works Years of Service: 5 Years, 2 Months Basis: Vested Rights Age: 52 Spouse: 56 Average Final Compensation: $6,367.18 Monthly Pension Amount: $657.73 ($6,367.18 X 10.33%) Effective: Age 65 C. Case No. 3927 Kenton Tsoodle – City Manager’s Office Years of Service: 19 Years, 5 Months Basis: Vested Rights Age: 47 Spouse: 43 Average Final Compensation: $17,423.81 Monthly Pension Amount: $6,765.67 ($17,423.81 X 38.83%) Effective: Age 65 X. INDIVIDUAL CONSIDERATION: A.(1). Receive a presentation from Shawn Tryon or his representative concerning his application for a Disability In the Line of Duty Allowance as permitted under the Disability Allowance provisions of Section 40­106, et seq. of the Oklahoma City Municipal Code, 2020, as amended. AND/OR A. (2). Enter into Executive Session with the Municipal Counselor to discuss said application of Disability In the Line of Duty as authorized by 25 O.S. (2022 Supp.) § 307 (B)(4) and (B)(7) because public disclosure of certain health related information that will be discussed with the Board would violate confidentiality requirements of state and federal law and to have confidential communications with legal counsel to discuss pending claim because disclosure would impair the ability to process the claim and conduct the investigation of the claim. AND/OR A.(3). Consider for APPROVAL/DENIAL the application of Disability In The Line Of Duty for Shawn Tryon. B. Approve ERS pay plan retroactive to July 1, 2023. C. A Resolution recommending the City Council adopt an Ordinance Relating to the Personnel and Retirement Systems, amending Section 40­61, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, by better describing employees of the Zoological Trust eligible to participate in a money purchase plan and trust; amending Section 40­65, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, by deleting the direct payment requirement for qualified health insurance premiums; amending Section 40­86, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, to comply with the SECURE 2.0 Act regarding required minimum distributions; amending Section 40­88, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, by deleting the direct payment requirement for qualified health insurance premiums; amending  Section 40­86, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, to comply with the SECURE 2.0 Act regarding required minimum distributions; amending Section 40­88, of Article III, Division 1, Part B, of Chapter 40 of the Oklahoma City Municipal Code, 2020, by deleting the direct payment requirement for qualified health insurance premiums; amending Section 40­106, of Article III, Division 1, Part D, of Chapter 40 of the Oklahoma City Municipal Code, 2020, by deleting the direct payment requirement for qualified health insurance premiums; amending Section 40­107, of Article III, Division 1, Part D, of Chapter 40 of The Oklahoma City Municipal Code, 2020, by deleting the direct payment requirement for qualified health insurance premiums; providing for codification. XI. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XII. Comments from Board, Staff and Citizens. XIII. Adjournment.