Oklahoma City Employee Retirement System

OKLAHOMA CITY EMPLOYEE RETIREMENT SYSTEM FORMAL AGENDA June 12, 2025 10:00 AM Paul Bronson, Chair Brent Bryant, Vice-Chair Board Members: Bruce Davis Doug Dowler Sri Jonnada Aimee Maddera Karla Nickels JC Reiss Randy Thurman Matt Weller Vacancy Amy K. Simpson, Ex-officio Matthew Boggs, Ex-officio 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 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 297­­2397 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 12, 2025 City Council Chamber 200 North Walker I. Call to Order. II. From the Chairman of the Board A. Resolution of Appreciation for JC Reiss for his dedicated service on the Oklahoma City Employee Retirement System Board of Trustees. III. APPROVE meeting minutes from May 8, 2025. IV. CONSENT DOCKET: A. Report of judgments purchased for the month of May 2025 in the amount of $541,526.66. B. Report of purchasing card transactions for May 2025 in the amount of $344.65. C. A­Mark Precious Metals dividend payment in the amount of $229.20. V. RATIFY APPROVALS: A. Payroll for the month of May 2025 in the amount of $4,260,162.57. B. The action of the Secretary and Administrator in modifying the application due to a change in the Retirement Date, Average Final Compensation and Monthly Pension Amount. 1. Case No. 3898 Randall Chapman – Airport Years of Service: 36 Years, 6 Months Basis: Service Age: 65 Spouse: 69 Option A Average Final Compensation: From: $7,756.43 To: $7,761.47 Monthly Pension Amount: From: $5,049.48 ($7,756.43 X 73% X .89179) To: $5,052.77 ($7,761.47 X 73% X .89179) Effective: May 26, 2023 2. Case No. 3899 Rochell Louis – Development Services Years of Service: 31 Years, 1 Month Basis: Service Age: 60 Spouse: 53 Option C Average Final Compensation: From: $6,692.37 To: $6,692.54 Monthly Pension Amount: From: $3,844.94 ($6,692.37 X 62.17% X .92412); or $3,646.38 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $3,845.03 ($6,692.54 X 62.17% X .92412); or $3,646.48 with $30,000 Lump Sum Distribution Effective: May 26, 2023 3. Case No. 3903 Sharon Todd – Police Years of Service: 23 Years, 0 Months Basis: Service Age: 66 Not Married Average Final Compensation: From: $4,600.10 To: $4,599.00 Monthly Pension Amount: From: $2,116.05 ($4,600.10 X 46%); or $1,878.14 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $2,115.54 ($4,599.00 X 46%); or $1,877.63 with $30,000 Lump Sum Distribution Effective: May 5, 2023 4. Case No. 3907 Alfred Franklin – Utilities Years of Service: 26 Years, 0 Months Basis: Service Age: 62 Spouse: 52 No Option Average Final Compensation: From: $5,415.02 To: $5,420.65 Monthly Pension Amount: From: $2,815.81 ($5,415.02 X 52%); or $2,594.29 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $2,818.74 ($5,420.65 X 52%); or $2,597.22 with $30,000 Lump Sum Distribution Effective: From: July 6, 2023 To: July 7, 2023 5. Case No. 3932 Glenn Partridge – Public Works Years of Service: 25 Years, 0 Months Basis: Service Age: 63 Spouse: 63 Option A Average Final Compensation: From: $5,439.09 To: $5,444.75 Monthly Pension Amount: From: $2,384.28 ($5,439.09 X 50% X .87672); or $2,186.84 with $30,000 Lump Sum Distribution Monthly Pension Amount: To: $2,386.76 ($5,444.75 X 50% X .87672); or $2,189.32 with $30,000 Lump Sum Distribution Effective: July 21, 2023 6. Case No. 3913 Francene Thomas – Police Years of Service: 41 Years, 9 Months Basis: Service  Age: 65 Not Married Average Final Compensation: From: $5,840.64 To: $5,841.37 Monthly Pension Amount: From: $4,876.93 ($5,840.64 X 83.5%) To: $4,877.54 ($5,841.37 X 83.5%) Effective: July 21, 2023 VI. APPROVE claims docket. A. Claims to be approved. VII. APPROVE the following applications for Service Retirement. A. Case No. 4066 Terri Broerse – Information Technology Years of Service: 25 Years, 0 Months Basis: Service Age: 63 Not Married Average Final Compensation: $8,342.09 Monthly Pension Amount: $4,171.05 ($8,342.09 X 50%) Effective: June 28, 2025 B. Case No. 4067 Kelvin Cox – Utilities Years of Service: 18 Years, 1 Month Basis: Service Age: 65 Spouse: 68 No Option Average Final Compensation: $6,378.61 Monthly Pension Amount: $2,307.14 ($6,378.61 X 36.17%) Effective: June 6, 2025 C. Case No. 4068 Chad Davidson – Development Services Years of Service: 25 Years, 0 Months Basis: Service Age: 56 Spouse: 56 Option A Average Final Compensation: $9,233.24 Monthly Pension Amount: $4,177.30 ($9,233.24 X 50% X .90484); or $3,992.78 with $30,000 Lump Sum Distribution Effective: June 13, 2025 D. Case No. 4069 Bruce Dunkins – Utilities Years of Service: 35 Years, 4 Months Basis: Service Age: 62 Spouse: 55 Option B Average Final Compensation: $5,462.39 Monthly Pension Amount: $3,399.32 ($5,462.39 X 70.67% X .88059); or $3,204.25 with $30,000 Lump Sum Distribution Effective: June 3, 2025 E. Case No. 4070 Marcy Hynd – Police  Years of Service: 28 Years, 3 Months Basis: Service Age: 65 Spouse: 66 Option C Average Final Compensation: $7,506.32 Monthly Pension Amount: $3,955.35 ($7,506.32 X 56.5% X .93263); or $3,737.69 with $30,000 Lump Sum Distribution Effective: June 21, 2025 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. 3406 Linda Goodgion – Died April 3, 2025 Monthly Pension Amount: $232.67 No Option Retirement Date: June 8, 2018 Pension to cease: April 30, 2025 B. Case No. 2350 Gerry Hall – Died May 16, 2025 Monthly Pension Amount: $882.23 No Option Retirement Date: April 21, 2006 Pension to cease: May 31, 2025 C. Case No. 3249 Clark Johnston – Died May 7, 2025 Monthly Pension Amount: $4,141.11 No Option Retirement Date: December 20, 2016 Pension to cease: May 31, 2025 D. Case No. 2858 Michelle Keller – Died May 25, 2025 Monthly Pension Amount: $5,126.86 Option B – Pending Spousal Application Retirement Date: September 7, 2012 Pension to cease: May 31, 2025 E. Case No. 3262 Brenda Long – Died May 15, 2025 Monthly Pension Amount: $2,454.96 No Option Retirement Date: February 4, 2017 Pension to cease: May 31, 2025  F. Case No. 2481 Richard Lutrell – Died May 14, 2025 Monthly Pension Amount: $2,432.32 Option C – Spouse Predeceased Retirement Date: January 3, 2008 Pension to cease: May 31, 2025 G. Case No. 3856 Shelley Walton – Died May 29, 2025 Monthly Pension Amount: $1,028.88 No Option Retirement Date: October 28, 2022 Pension to cease: May 31, 2025 IX. RECEIVE report of death. AUTHORIZE Secretary to make necessary changes to conform on the following. A. Case No. 2058A Laura Ferguson – Died March 20, 2025 Monthly Pension Amount: $1,614.90 No Option Pension to cease: March 31, 2025 X. APPROVE request of the following to terminate Vested Rights and commence retirement benefits. A. Case No. 3224 Rodney Tipton – Utilities Years of Service: 14 Years, 7 Months Basis: Service Age: 58 Spouse: 67 Option A Average Final Compensation: $3,894.23 Monthly Pension Amount: $763.25 ($3,894.23 X 29.17% X .9332 less 28% for early retirement) Effective: June 13, 2025 XI. INDIVIDUAL CONSIDERATION: A. Amendment No. 1 to Administrative Services Agreement between the Oklahoma City Deferred Compensation Board, The Oklahoma City Employee Retirement System and The City of Oklahoma City to provide administration of the 457 Deferred Compensation Plan and Money Purchase Plans, effective May 1, 2025. B. Administrative Services Agreement with the Oklahoma City Deferred Compensation Board and the Employee Retirement System, to provide administration of the 457 Deferred Compensation Plan and the Money Purchase Plan & Trust­Open and Money Purchase Plan & Trust­Closed, $175,500, July 1, 2025 through June 30, 2026. 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 $230,898, for the period July 1, 2025 through June 30, 2026. D. Administrative Services Agreement with the Central Oklahoma Transportation and Parking Authority, Oklahoma City Employee Retirement System and The City of Oklahoma City to provide administration of the 457 Deferred Compensation Plan and the Money Purchase Plan & Trust­Open, July 1, 2025 through June 30, 2026, $12,200. E. Fiscal Year 2025­2026 Oklahoma City Employee Retirement System Budget. F. Amendment No. 3 and Restated Audit Contract with Allen, Gibbs & Houlik, L.C. to include audit services for fiscal year 2025, not to exceed, $28,385. XII. RECEIVE Investment Consultant Report. A. Monthly Investment Report. XIII. Comments from Board, Staff and Citizens. XIV. Adjournment.