HomeMy WebLinkAbout07-18- 23 Employees' Retirement System Board MinutesOFFICIAL PROCEEDINGS OF
THE BOARD OF TRUSTEES CITY OF LANSING
EMPLOYEES’ RETIREMENT SYSTEM
Regular Meeting July 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 (9:43) Ebright, Jeffries, Kirkland, Kraus, O’Leary, Parker, Schor –
9
Absent: Excused: Garza
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 Bahr to approve the Official Minutes
of the Employee Retirement System Board meeting of June 20, 2023.
Adopted by the following vote: 8 -0
Secretary’s Report
6 new member(s), 0 reinstatement(s), 0 refund(s), 0 transfers, 0 retired. Total active
membership: 416. Total deferred: 72. 0 death(s). Refunds made since the last regular
meeting amounted to $0.00. Retirement allowances paid for the month of June 2023,
amounted to $2,0201,800.15. Total retirement checks printed for the ERS System: 922.
Total Retirement checks printed for both systems: 1717. 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.:
Shawn M. Crisp (Planning-Teamster 243), 20years, 2months of service credits,
age 58, effective July 1, 2023 (From Deferred)
Mindy Jo Miller (Planning -Teamster 243), 10 years, 1 months of service credits,
age 59, effective July 1, 2023 (From Deferred)
Greg Rosenbery (Police/Civilian – Teamster 243), 12 years 3 months of service
credits, age 58, effective July 1, 2023 (From Deferred)
Tina Smith (District Court – NonBargaining), 30 years of service credits, age 60,
effective August 1, 2023
Employees’ Retirement System July 18, 2023
Meeting Minutes Tuesday, 9:30 a.m.
Page 2
It was moved by Trustee Bahr and supported by Trustee Ebright to approve the following
Request for Age and Service Retirement (continued).:
Charles Walker (Public Service- UAW), 9 years, 10 months of service credits,
age 61, effective June 1, 2023 (From Deferred)
Adopted by the following vote: 8 – 0.
Ms. Williams reported that the Retirement Office was waiting for medical documentation for
for Applicant #2023 -E0321.
Ms. Williams reported that there were two requests for duty disability, Applicant #2022-E0620
and Applicant #2023-E0621. The Retirement Office was waiting for their medical release and
medical documentations.
Karen Williams reported that there was a request for a refund of accumulated contributions:
Michael Schwartz, Public Service, not vested, $439.71.
Adopted by the following vote: 8 -0
Ms. Williams announced the MAPERS Fall Conference will be held at Shanty Creek,
Bellaire, Michigan from September 9-12. Ms. Williams announced the IFEBP Annual
Conference would be held October 1-4, 2023, in Boston. Ms. Williams encouraged
those members that wished to attend to contact the Retirement Office.
It was moved by Trustee Bahr and supported by Trustee Kirkland to excuse Trustee Dedic and
Trustee Garza from the July Employees’ Retirement System Board meeting.
Adopted by the following vote: 8-0.
There were no public comments for items not on the agenda.
Ms. Williams provided the following invoices for approval: from Asset Consulting Group,
$20,731.50; Gabriel, Roeder, Smith & Company, $1,950; TRowe Price, $15,909.21.
Employees’ Retirement System July 18, 2023
Regular Meeting Tuesday, 9:30 a.m.
Page 3
It was moved by Trustee Bahr and supported by Trustee Ebright to approve the
Employees’ Retirement System Board invoices for payment for the month of July.
Trustee Jeffries inquired about the Minute Master services of Gabriel, Roeder, Smith,
and Company.
Karen Williams explained that Minute Master was a searchable electronic version of
archived minutes and documents.
Adopted by the following vote: 8 - 0.
Attorney Aaron Castle reported regarding the Securities Lending Reserve Fund.
Attorney Castle opined the Securities Lending Reserve Fund is not subject to specific
requirements or restrictions on the use of its assets as are the other reserve funds of
the Retirement System established under the Retirement Ordinance. He reported that
the Board may wish to work with its Investment Consultant to establish a minimum
balance to be maintained in the securities lending reserve account to allow the Board to
continue its practice of paying expenses and capital calls from the securities lending
reserve.
The Employees’ Retirement System Board discussed if the money was needed for post-
retirement benefit increases.
Attorney Castle indicated that Post -Retirement Benefit Increases are only available to
eligible retirees and beneficiaries if there is a sufficient balance available in the
Members Benefit fund.
Karen Williams reviewed the retirees and beneficiaries are eligible under the Retirement
Ordinance and bargaining agreements.
Attorney Castle reported on the MOVEit Transfer Software Cybersecurity Breach.
Attorney Castle reviewed the communication from PBI. Attorney Castle opined that the
Police and Fire Retirement Board has a legal obligation to notify the affected individuals
pursuant to Michigan ‘s Identity Theft Protection Act, Act 452 of 2004, as amended
(MCL 445.61 et seq.)
Attorney Castle reported that PBI has proposed a “Notice Program” to its impacted
clients whereby PBI, through a third party (Kroll) has offered to provide for mailed
communication to affected individuals, call center support, and one year of credit
monitoring, fraud consultation and identity theft restoration.
Attorney Castle indicated that state law indicates the Police and Fire Retirement System
Board are required to notify the credit reporting agencies, Experian, Equifax, and
TransUnion.
Trustee Schor reported that the issues was discussed at the Police and Fire Retirement
System Board meeting. Trustee Schor stated the Board approved opting into the Kroll
Notice Program. Trustee Schor also reported that the Police and Fire Board discussed
two contingencies: notification of retirees by August 1, 2023, and that the contact
information would not be used for marketing purposes.
It was moved by Trustee Schor and supported by Trustee Bahr that the Employees’
Retirement System opt-in to the Kroll Notice Program, and communicate its request for
August 1 notification date, and that the retirees’ contact information would not be sold or
used for marketing purposes.
Adopted by the following vote: 8 – 0.
Karen Williams explained how the Kroll Notice Program would work: after notices are
mailed, there would be a call center set up for 90 days, and fraud monitoring available.
Karen Williams reported the Trustee Election Results for Larry Ebright as the winner of
Employees’ Retirement System.
It was moved by Trustee Dedic and supported by Trustee Bahr to approve the election
results for Larry Ebright as the winner of the Employees’ Retirement System Trustee.
Adopted by the following vote: 9 -0
Karen Williams reported the proposal to update the minute master from Gabriel,
Roeder, Smith had a fee not to exceed $3,300.
It was moved by Trustee Bahr and supported by Trustee Kirkland to update Minute
Master with a fee not to exceed $1,950.
Adopted by the following vote: 9 -0.
Ms. Williams reviewed the Monthly Investment Report for the month ending June 30, 2023.
It was moved by Trustee Bahr and supported by Trustee Kirkland to adjourn the Employees’
Retirement System Board July meeting.
The meeting ended at 10:05 a.m.
Minutes approved on 8/15/2023.
________________________
Desiree Kirkland, Secretary
Employees’ Retirement System
_____________________________
Dennis R. Parker, Chairperson
Employees’ Retirement System