Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA October 10, 2024 10:00 AM Paul Bronson, Chair Brent Bryant, Vice­Chair Board Members: Bruce Davis Doug Dowler Sri Jonnada Aimee Maddera Karla Nickels JC Reiss Randy Thurman Matt Weller Vacancy Amy K. Simpson, Ex­officio Matthew Boggs, Ex­officio Jeanna Jordan, 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, October 10, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of September 12, 2024. III. PRESENTATION from Investment Manager. A. Allspring IV. CONSENT DOCKET. A. Report of judgments purchased for month of September 2024 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, October 10, 2024 City Council Chamber 200 North Walker I. Call to Order. II. APPROVE minutes of meeting of September 12, 2024. III. PRESENTATION from Investment Manager. A. Allspring IV. CONSENT DOCKET. A. Report of judgments purchased for month of September 2024 in the amount of $402,798.58. B. Earnest Partners commission recapture proceeds for August 2024 in the amount of $208.69. V. RATIFY APPROVALS. A. Payroll for the month of September 2024 in the amount of $4,051,225.43. B. The action of the Secretary and Administrator in modifying the application due to a change in the Effective Date, Average Final Compensation and Monthly Pension Amount. 1. Case No. 3864 Julius Chambless – Planning Years of Service: 46 Years, 0 Months Basis: Service Age: 65 Spouse: 32 No Option Average Final Compensation: From $9,258.14 To: $9,326.74 Monthly Pension Amount: From: $8,517.49 ($9,258.14 X 92%) To: $8,580.60 ($9,326.74 X 92%) Effective: December 28, 2022 2. Case No. 3865 Ronald Churchill – Development Services Years of Service: 30 Years, 0 Months Basis: Service Age: 62 Spouse: 68 Option A Average Final Compensation: From $7,322.95 To: $7,471.45 Monthly Pension Amount: From: $4,004.44 ($7,322.95 X 60% X .91139) To: $4,085.64 ($7,471.45 X 60% X .91139) Effective: December 23, 2022 3. Case No. 3867 Kenneth Duncan – Public Works Years of Service: 29 Years, 11 Months Basis: Service  Effective: December 23, 2022 3. Case No. 3867 Kenneth Duncan – Public Works Years of Service: 29 Years, 11 Months Basis: Service Age: 65 Spouse: 64 Option A Average Final Compensation: From $7,605.22 To: $7,674.72 Monthly Pension Amount: From: $3,921.13 ($7,605.22 X 59.83% X .86175); or $3,720.02 with $30,000 Lump Sum Distribution To: $3,956.97 ($7,674.72 X 59.83% X .86175); or $3,755.85 with $30,000 Lump Sum Distribution Effective: December 9, 2022 4. Case No. 3869 Thomas Jennings – Utilities Years of Service: 29 Years, 11 Months Basis: Service Age: 60 Not Married Average Final Compensation: From $5,340.20 To: $5,348.16 Monthly Pension Amount: From: $3,195.04 ($5,340.20 X 59.83%); or $2,980.18 with $30,000 Lump Sum Distribution To: $3,199.80 ($5,348.16 X 59.83%); or $2,984.94 with $30,000 Lump Sum Distribution Effective: From: December 2, 2022 To: December 3, 2022 5. Case No. 3870 Nancy Sherwood – Police Years of Service: 14 Years, 3 Months Basis: Service Age: 69 Not Married Average Final Compensation: From $3,919.07 To: $3,946.34 Monthly Pension Amount: From: $1,116.93 ($3,919.07 X 28.5%) To: $1,124.71 ($3,946.34 X 28.5%) Effective: December 7, 2022 VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 4011 Robert Dodson – General Services Years of Service: 31 Years, 3 Months Basis: Service Age: 56 Not Married Average Final Compensation: $10,522.68 Monthly Pension Amount: $6,576.68 ($10,522.68 X 62.5%); or $6,372.75 with $30,000 Lump Sum Distribution Effective: October 11, 2024 B. Case No. 4012 Emmitt Greene – Personnel Years of Service: 35 Years, 0 Months Basis: Service  Effective: October 11, 2024 B. Case No. 4012 Emmitt Greene – Personnel Years of Service: 35 Years, 0 Months Basis: Service Age: 58 Spouse: 58 Option B Average Final Compensation: $9,370.35 Monthly Pension Amount: $6,041.07 ($9,370.35 X 70% X .921) Effective: October 31, 2024 C. Case No. 4013 David Grothe – Information Technology Years of Service: 45 Years, 2 Months Basis: Service Age: 63 Spouse: 63 Option A Average Final Compensation: $16,596.60 Monthly Pension Amount: $13,143.53 ($16,596.60 X 90.33% X .87672) Effective: October 4, 2024 D. Case No. 4014 Stephen Krausnick – Utilities Years of Service: 16 Years, 2 Months Basis: Service Age: 63 Not Married Average Final Compensation: $8,274.36 Monthly Pension Amount: $2,461.09 ($8,274.36 X 32.33% less 8% for early retirement) Effective: October 1, 2024 E. Case No. 4015 James Locke – Public Works Years of Service: 15 Years, 0 Months Basis: Service Age: 67 Spouse: 66 Option A Average Final Compensation: $6,213.36 Monthly Pension Amount: $1,587.60 ($6,213.36 X 30% X .85171) Effective: October 11, 2024 F. Case No. 4016 April Miller – Development Services Years of Service: 15 Years, 3 Months Basis: Service Age: 63 Not Married Average Final Compensation: $4,616.12 Monthly Pension Amount: $1,295.29 ($4,616.12 X 30.5% less 8% for early retirement) Effective: August 13, 2024 G. Case No. 4017 Mark Stallings – Planning Years of Service: 11 Years, 8 Months Basis: Service Age: 60 Not Married  G. Case No. 4017 Mark Stallings – Planning Years of Service: 11 Years, 8 Months Basis: Service Age: 60 Not Married Average Final Compensation: $7,331.40 Monthly Pension Amount: $1,368.34 ($7,331.40 X 23.33% less 20% for early retirement) Effective: October 11, 2024 H. Case No. 4018 Kary Washington – Public Works Years of Service: 12 Years, 6 Months Basis: Service Age: 59 Not Married Average Final Compensation: $5,028.25 Monthly Pension Amount: $955.37 ($5,028.25 X 25% less 24% for early retirement) Effective: October 5, 2024 VIII. APPROVE continuation of pension to spouse. A. Case No. 2761 Thomas Godwin – Died September 18, 2023 Monthly Pension Amount: $1,697.21 Option C Retirement Date: April 1, 2011 Pension to cease September 30, 2023 B. Case No. 2761A Brenda Godwin – Widow of Thomas Godwin Monthly Pension Amount: $848.61 ($1,697.21 X 50%) Option C Effective: October 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. 2723 Avagail Burton – Died December 17, 2023 Monthly Pension Amount: $1,164.99 No Option Retirement Date: October 9, 2010 Pension to cease December 31, 2023 (Recalling payments back to January 2024) B. Case No. 3675 Paul Nyman – Died September 3, 2024 Monthly Pension Amount: $1,620.25 No Option Retirement Date: August 25, 2020 Pension to cease September 30, 2024 C. Case No. 3840 Zackary Porterfield – Died September 10, 2024  Retirement Date: August 25, 2020 Pension to cease September 30, 2024 C. Case No. 3840 Zackary Porterfield – Died September 10, 2024 Monthly Pension Amount: $1,491.51 No Option Retirement Date: August 5, 2022 Pension to cease September 30, 2024 D. Case No. 2094 Vera Ruffner – Died September 1, 2024 Monthly Pension Amount: $1,031.65 No Option Retirement Date: June 1, 2002 Pension to cease September 30, 2024 E. Case No. 3685 Terll Shrum – Died September 16, 2024 Monthly Pension Amount: $1,296.44 Option A – Pending Spousal Application Retirement Date: September 5, 2020 Pension to cease September 30, 2024 X. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 1984A Diana Crawford – Died September 14, 2024 Monthly Pension Amount: $1,178.98 No Beneficiary Pension to cease September 30, 2024 XI. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 4008 Jerry Webb – Zoo Years of Service: 12 Years, 4 Months Basis: Service Age: 61 Not Married Average Final Compensation: $5,248.28 Monthly Pension Amount: $1,087.59 ($5,248.28 X 24.67% less 16% for early retirement) Effective: October 2, 2024 XII. INDIVIDUAL CONSIDERATION. A. Approve retirement system employees to enroll in courses offered by International Foundation of Employee Benefits to pursue the Retirement Plans Associate (RPA) designation. B. Fixed Income Portfolio Review and Discussion. XIII. RECEIVE Investment Consultant Report.  Foundation of Employee Benefits to pursue the Retirement Plans Associate (RPA) designation. B. Fixed Income Portfolio Review and Discussion. XIII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIV. Comments from Board, Staff and Citizens. XV. Adjournment.