HomeMy WebLinkAbout04 -18- 23 Employees' Retirement System MinutesOFFICIAL PROCEEDINGS OF
THE BOARD OF TRUSTEES CITY OF LANSING
EMPLOYEES’ RETIREMENT SYSTEM
Regular Meeting April 18, 2023
10th Floor, City Council Conference Room Tuesday, 9:30 a.m.
The meeting was called to order at 9:30 a.m.
Present: Trustee Bahr, Dedic, Ebright, Garza, Jeffries, Kraus, O’Leary, Parker, Schor – 9
Absent: Excused: Kirkland
Others present: Karen Williams, Human Resources Department; Attorney Joseph Abood, City
Attorney’s Office; Attorney Aaron Castle, VanOverbeke, Michaud & Timmony, P.C.
It was moved by Trustee Kraus and supported by Trustee Dedic to approve the Official Minutes
of the Employee Retirement System Board meeting of March 21, 2023.
Adopted by the following vote: 9 -0
Secretary’s Report
4 new member(s), 0 reinstatement(s), 0 refund(s), 0 transfers, 2 retired. Total active
membership: 492. Total deferred: 72. 2 death(s) Edward J. Piloske (City Council – Non-
Bargaining, retired 1/5/1993), died 3/17/2023, age 76, no beneficiary; Patrica
Vanderstraeten, died 3/12/2023, age 81, spouse of Non bargaining retiree. Refunds
made since the last regular meeting amounted to $0.00. Retirement allowances paid for
the month of March 2023, amounted to $2,021,970.23. Total retirement checks printed
for the ERS System: 924. Total Retirement checks printed for both systems: 1716.
Eligible domestic relations orders received: 0. Domestic relations orders pending: 0.
Eligible domestic relations orders certified: 0.
It was moved by Trustee Bahr and supported by Trustee Ebright to approve the following
Request for Age and Service Retirement.
Scott K. Sanford (Planning -Teamster 243), 20 years, 10 months of service credits,
age 60, effective March 18, 2023
Adopted by the following vote: 9 – 0
Ms. Williams reported that the Retirement Office was waiting for medical documentation for
for Applicant #2023 -E0321.
Ms. Williams reported that the medical report for Applicant #2022-E1220 had been received and
forwarded to the disability subcommittee for review. The disability subcommittee has met and
has a recommendation for the Board.
Employees’ Retirement System April 18, 2023
Meeting Minutes Tuesday, 9:30 a.m.
Page 2
It was moved by Trustee Bahr and supported by Trustee O’Leary to approve the duty disability
application for Applicant #2022-E1220 per the medical director’s recommendation.
Adopted by the following vote: 9 -0.
Ms. Williams reported that the medical report for Applicant #2023-E1221 had been received and
forwarded to the disability subcommittee for review. The disability subcommittee has met and
has a recommendation for the Board.
It was moved by Trustee Bahr and supported by Trustee O’Leary to approve the duty disability
application for Applicant #2023-E0221 per the medical director’s recommendation.
Adopted by the following vote: 9 -0.
Ms. Williams notified the Board of NCPERS Annual Conference, May 20 -23, 2023 in
New Orleans, Louisiana, MAPERS Spring Conference, May 20 -23, 2023 in Kalamazoo,
Michigan and the IFEBP Annua Conference, October 1-4 in Boston, Massachusetts.
It was moved by Trustee Dedic and supported by Trustee Kraus to allow the chairperson and
any trustee who would like to attend the IFEBP Annual Conference.
Adopted by the following vote: 6-0
There were no public comments for items not on the agenda.
Ms. Williams provided the following invoices from Western Asset, $10,120.68; William Blair,
$22,921.57; Asset Consulting Group, $19,744.25; and T Rowe Price, $15,052.55, MES,
$1,100.
It was moved by Trustee Bahr and supported by Trustee Ebright to approve the Employees’
Retirement System Invoices for April.
Adopted by the following vote: 9 – 0
Attorney Aaron Castle reported that he did not have a formal report for the Employees’
Retirement System Board. He did provide an update on the State of Michigan grant
program for the pension systems. The State of Michigan released the application for the
pension grant program due June 15, 2023. The Employees Retirement System has
already adopted the required actuarial assumptions for the grant program.
Employees’ Retirement System April 18, 2023
Regular Meeting Tuesday, 9:30 a.m.
Page 3
Trustee Schor indicated that the City of Lansing is working on the grant program
application to capture as much grant monies as possible.
Karen Williams reported that Trustee Kirkland, Karen Williams, and Finance Staff met
with Clayton Robinson of Northern Trust regarding custodial banking services. Northern
Trust stated the first step would be to set up cash accounts to receive contributions and
pay expenses. Mr. Robinson stated that clients will need to use the Northern Trust
electronic banking, Cash Web Management system.
Ms. Williams explained that all the vendors would be set up in the Cash Web Management
System. The amount of the invoice would be entered into the system for processing and
then the chairperson could authorize the payment in the Cash Web Management System.
Karen Williams reported that April 30 would be the deadline for duty disability retirees to
submit their income verifications.
Ms. Williams reviewed the Monthly Investment Report for the month ending March 31, 2023.
It was moved by Trustee Dedic and supported by Trustee Kraus to adjourn the Employees’
Retirement System Board April meeting.
The meeting ended at 9:47 a.m.
Minutes approved on 5/16/2023
________________________
Desiree Kirkland, Secretary
Employees’ Retirement System
_____________________________
Dennis R. Parker, Chairperson
Employees’ Retirement System