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HomeMy WebLinkAbout10- 17-2023 Employees' Retirement System Board October 2023 MinutesOFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 10th Floor, City Council Conference Room The meeting was called to order at 9:32 a.m. October 17, 2023 Tuesday, 9:30 a.m. Present: Trustee Bahr, Dedic, Ebright, Garza, Kirkland, Kraus, O'Leary, Parker, Schor - 9. Absent: Excused: Jeffries 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 Bahr and supported by Trustee Dedic to approve the Official Minutes of the Employee Retirement System meeting of September 19, 2023. Adopted by the following vote: 9 -0 Secretary's Report 1 new member(s), 0 reinstatement(s), 0 refund(s), 0 transfers, 3 retired. Total active membership: 420. Total deferred: 67. 0 death(s). Refunds made since the last regular meeting amounted to $0. Retirement allowances paid for the month of September 2023, amounted to $2,020,184.77. Total retirement checks printed for the ERS System: 922. Total Retirement checks printed for both systems: 1732. Eligible domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. Ms. Williams reported that Applicant #2023 - E0321 has been scheduled to see the medical director. It was moved by Trustee Bahr and supported by Trustee Ebright to approve the following requests for refunds of accumulated contributions: Valencia S. Anderson, Teamster 243, not vested, $10,796.80. Samantha Harkins, Executive Management, not vested, $22,756.96. Adopted by the following vote: 9 -0 Trustee Dedic provided the oral report for the IFEBP Conference that was held October 1-4, 2023. Trustee Dedic highlighted Dr. Sanjay Gupta who was the keynote speaker. He reviewed the workshops that he attended regarding artificial intelligence, and emerging markets. It was moved by Trustee Ebright and supported by Trustee Bahr to excuse Trustee Jeffries from the October Employees' Retirement System Board meeting. Adopted by the following vote: 9 -0. Employees’ Retirement System October 17, 2023 Meeting Minutes Tuesday, 9:30 a.m. Page 2 There were no public comments for items not on the agenda. Ms. Williams provided the following invoices for approval: from Boomershine Consulting Group, $17,340.00; Asset Consulting Group, $20,731.50. It was moved by Trustee Ebright and supported by Trustee Bahr to approve the payment. of the invoices for the month of September. Adopted by the following vote: 9-0 Attorney Castle reviewed that Mr. Dale Abronowitz submitted a letter of request for reconsideration of non-duty disability retirement at the Employees’ Retirement System September meeting. At the meeting the letter was referred to legal counsel for review. Attorney Castle has requested additional documents and will report at the November meeting. Karen Williams distributed a proposed schedule for the 2024 meeting dates for review. Ms. Williams noted that the Police and Fire Board requested to move the meeting from the third Tuesday to May 14, 2023, The Board agreed to review the dates and discuss at the November meeting. Ms. Williams reviewed the Monthly Investment Report for the month ending September 30, 2023, It was moved by Trustee Bahr and supported by Trustee Dedic to adjourn the Employees' Retirement System Board October meeting. Adopted by the following vote: 9 -0 The meeting ended at 9:58 a.m. Minutes approved on 11/21/2023. Desiree Kirkland, Secretary Employees' Retirement System Dennis R. Parker, Chairperson Employees' Retirement System Employees' Retirement System Regular Meeting Page 3 September 18, 2023 Tuesday, 9:30 a.m.