HomeMy WebLinkAbout1-18-2022 Employees Retirement System COMMITTEE OF THE WHOLE OF THE BOARD OF
TRUSTEES
CITY OF LANSING
EMPLOYEES' RETIREMENT SYSTEM
Regular Meeting January 18, 2022
loth Floor City Council Conference Room Tuesday, 9:30 a.m.
The Board met in regular session and was called to order at 10:13 a.m.
Present: Bahr, Dedic, Garza, Kirkland, Parker-5
Absent:'Carrigan, Ebright, Kraus, Sanchez-Gazella, Schor
Others: Karen E. Williams, Human Resources Department; Attorney Aaron Castle,
(legal counsel).
There were no public comments.
13 new member(s), 0 reinstatement(s), 0 refund(s), 0 transfers, 0 retired. Total active
membership: 491. Total deferred: 75. 1 death(s) Tyler K. Houser, (Public Service —
UAW, retired 1/17/2017), died 12/29/2021, age 54 beneficiary to receive 50%. Refunds
made since the last regular meeting amounted to $0.00. Retirement allowances paid for
the month of December 2021, amounted to $2,020,739.48. Total retirement checks
printed for the ERS System: 938. Total Retirement checks printed for both systems:
1707. Eligible domestic relations orders received: 0. Domestic relations orders pending:
0. Eligible domestic relations orders certified: 0.
Karen Williams reported that Director Kilpatrick, Public Service has requested Applicant
#2022-E0118 be evaluated for duty disability due to permanent restrictions and cannot
be further accommodated.
The request for Applicant #2022-E0118 was forwarded to the disability subcommittee for
review.
Trustee Kirkland inquired if the applicant had to agree to be evaluated for duty disability.
Attorney Castle indicated that once an application is received it goes through the
process. The applicant does not have agree to be evaluated.
Karen Williams reported that Applicant #2021 -E1108 was sent a letter requesting
medical release and documents to be forwarded to the medical director.
Karen Williams reported that Applicant #2021-E1214 was sent a letter requesting
medical release and documents to be forward to the medical director
Employees' Retirement System
Regular Meeting of January 18, 2021
Page 2
Karen Williams reported that Applicant #2021 -E1108 was sent a letter requesting
medical release and documents to be forwarded to the medical director.
Karen Williams reported that Applicant #2021-E1214 has requested to be evaluated for
non-duty disability. The letter of request was forwarded to the disability subcommittee
for review.
It was moved by Trustee Bahr and supported by Trustee Kraus to refer Applicant#2021-
E1214 to the medical director for nonduty disability evaluation.
Adopted by the following vote: 7 -0.
Karen Williams reported that Graciela Ramirez, Teamster 243 CTP, not vested, has
requested accumulated contributions of$8,141.06.
Karen Williams reported the MAPERS One Day Conference.
Trustee Carrigan, Trustee Ebright, Trustee Kraus, Trustee Sanchez-Gazella and Trustee
Schor requested to be excused from the January ERS meeting.
Karen Williams provided retirement board January invoices (PBI, VanOverbeke,
Michaud and Timmony, Northern Trust, Zoom) for approval in accordance with the
authorized signer's policy.
Attorney Aaron Castle provided an overview of the new 1 -year contract with PBI
Research Services that was negotiated and finalized in December at a rate of$2.00 per
record (i.e., the 3-year rate).
Attorney Castle reviewed that the Special projects sub-committee continues to meet
and review recommended policies and procedures as well as updates and amendments
to the Retirement Ordinances and the Boards' existing policies. The subcommittee
plans to update disability retirement policy and procedures and discussed portfolio
monitoring and securities litigation.
Attorney Castle updated the Employees' Retirement System Board regarding proposed
amendments of the Open Meeting Act with House Bill 5427. It would provide certain
public bodies could hold a meeting electronically under any circumstances. Attorney
Castle stated the likelihood of passage was low. MAPERS supported a bill that would
allow retirement and retirement health care boards to meet virtually.
Karen Williams distributed the FY2022 Employees' Retirement System Annual pension
contribution memo. The memo indicated that on December 17, 2021, $12,737,487 was
transferred by the City of Lansing to the Employees' Retirement System for the fiscal
year 2022 employer contribution, which is 100% of the actuarially determined
contribution from the 12/31/20- Employees' Retirement System actuarial valuation.
Employees' Retirement System
Regular Meeting of January 18, 2022
Page I
Karen Williams distributed the ACG transparency letter to comply with applicable laws,
regulations and policies concerning gifts and entertainments for public officials and
Board business that may cost between $25 -100 per person, per event.
Attorney Castle indicated that the Police and Fire Retirement System Board requested
that additional language from the City Ethics policies be added to the letter. Attorney
Castle will provide the similar language for the Employees' Retirement System.
Karen Williams reviewed the monthly investment report for the month ending December
31, 2021.
The meeting ended at 10:43 a.m.
Minutes approved on _2/15/2022
Desiree Kirkland, Secretary
Employees' Retirement System
Dennis R. Parker, Chairperson
Employees' Retirement System