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Trustees approve retirement resolution and a package of contracts, budgets and administrative agreements
Summary
At a regularly scheduled meeting, the Oklahoma City Employee Retirement System board unanimously approved a resolution of appreciation for trustee JC Reese and passed a series of consent items, administrative-service agreements, the FY2025-26 retirement system budget and an audit contract.
The trustees of the Oklahoma City Employee Retirement System unanimously approved a resolution honoring outgoing trustee JC Reese and approved a package of routine items, administrative service agreements, the FY2025-26 budget for the retirement system and an audit contract.
Paula (the retirement system secretary) read the resolution recognizing JC Reese's service. The resolution notes the board was established by ordinance number 8169 in January 1958 and records that Reese began working for the city in 1985, served as a trustee since July 2019 and is a systems analyst 3 in the public works department. Reese and multiple trustees spoke in appreciation; the resolution "passed unanimously," the board reported.
The board took the following formal actions (all outcomes noted as recorded in the meeting transcript):
- Resolution of appreciation for JC Reese (Item 2): Read by the secretary; trustees praised Reese's service; the board voted and the resolution passed unanimously.
- Approve meeting minutes of 05/08/2025 (Item 3): Motion approved unanimously.
- Consent docket (Item 4): Three consent-docket items were approved unanimously (transcript does not list individual consent items by name).
- Ratify approvals (Item 5): Ratification approved unanimously.
- Claims docket (Item 6): Approved unanimously.
- Applications for service retirement (Item 7): Approved unanimously.
- Reported death and $5,000 death benefit authorization (Item 8): Board authorized payment of the $5,000 death benefit and directed the secretary to make necessary changes; passed unanimously.
- Report of death and administrative updates (Item 9): Received and approved; secretary authorized to make necessary changes; passed unanimously.
- Terminate vested rights and commence retirement benefits (Item 10): Approved unanimously.
- Individual consideration (Item 11, multiple subitems): The board approved a series of administrative-service agreements and operating items for 2025–2026: • Item 11a: Amendment No. 1 to the administrative services agreement to administer the 457 deferred compensation and money purchase plans (effective 05/01/2025); approved unanimously. • Item 11b: Administrative-service agreement with the Oklahoma City Deferred Compensation Board to provide administration of the 457 deferred compensation plan and money purchase plan and trust (fee reported as $175,500 for July 1 through 06/30/2026); approved unanimously. • Item 11c: Agreement between the City of Oklahoma City and the retirement system for certain professional and nonprofessional services and office rental, with a fee reported in the transcript as $230,000.898 for 07/01/2025–06/30/2026 (amount in transcript appears garbled); approved unanimously. • Item 11d: Administrative services agreement with the Central Oklahoma Transportation and Parking Authority for administration of the 457 deferred compensation plan and related money purchase plan for a fee reported as $12,200 for 07/01/2025–06/30/2026; approved unanimously. • Item 11e: Fiscal year 2025–26 employee retirement system budget; approved unanimously. • Item 11f: Amendment No. 3 to the audit contract with Allen Gibbs Hulick LLC for fiscal year 2025 audit services, not to exceed $28,385; approved unanimously.
- Receive the investment consultant report from ACG (Item 12): The board recorded receipt of the ACG/George Tarlos report; acceptance was entered unanimously.
Following the votes, trustees offered brief comments, staff recorded the approvals, and the meeting adjourned.
