HomeMy WebLinkAboutEmployees Retirement System December 17 2024 Minutes CITY OF LANSING
EMPLOYEES' RETIREMENT SYSTEM
Official Meeting Minutes
Regular Meeting Minutes December 17, 2024
10t" Floor, City Council Conference Room Tuesday, 9:30 a.m.
The meeting was called to Order at 9.33 AM by Trustee Parker
Trustees in attendance: Bahr, Dedic (9.38), Ebright, Jeffries, O'Leary, Parker, Thomas (7)
Not in Attendance, Garza, Kraus, Mayor Schor
Others Present: Thomas Lindemann, Human Resources, Attorney Joe Abood, City Attorney's
Office, Desiree Kirkland, Finance Director, Chad Randall, City Auditor, Attorney Aaron Castle,
VanOverbek, Michaud & Timmony, Daren Kalis, UAW
It was moved by Trustee Bahr and supported by Trustee Ebright for the Reading of the Official Minutes
of the Joint Employees' Retirement System Board and Police and Fire Retirement System Board
Meeting of November 18, 2024
Trustee Jefferies when through some corrections for the Joint Meeting Minutes.
Adopted by the following vote: 7-0
There were no public comments for Items on the Agenda
Secretary's Report.
1 new member(s), 0 reinstatement(s), 0 refund(s), 0 transfers, 3 retired. Total
active membership: 418. Total deferred: 67; 3 death(s) Clayton Church,
UAW, retired 10/8/1994, died 11/26/2024, age 85, NO Surviving Beneficiary,
Donna Clark, died 11/24/2024, age 87, Beneficiary of T243 Supervisory
Retiree (Irvin Clark Jr), Gerald Williams, UAW, retired 11/15/2004, died
10/23/2024, age 76, NO Surviving Beneficiary; Refunds made since last
regular meeting amounted to $24,486. Retirement allowances for the month
of November 2024 amounted to $2,031,487.16. Total retirement checks
printed for ERS System: 914. Total retirement checks printed for both systems:
1736. Eligible domestic relations orders received: 0. Domestic relations orders
pending: 1 . Eligible domestic relations orders certified: 0.
Regular Meeting Minutes December 17, 2024
1011 Floor, City Council Conference Room Tuesday, 9:30 a.m.
Page 2
It was moved by Trustee Bahr and supported by Trustee Ebright to approve the applications for for
Regular Age & Service Retirement from The Employees' Retirement System:
Walter Allen (Code Compliance, Teamsters 214 Supervisory) 23 years 11 months, age 59,
effective 12/14/2024
Kellie Brown, (Administration, Teamsters 243 CTP) 21 years 4 months of service credit,
Age 61, effective 1/4/2025
Raymond Platt, (Parks, UAW) 23 years 1 month of service credit, age 59,
effective 12/28/2024
Lynne Puente, (Planning, Teamsters 243 CTP) 23 years 6 months of service credit, age 58,
effective 12/14/2024
Yavonne Whitbeck (District Court, Teamsters 243) 15 years of Service Credit, age 60,
effective 12/14/2024
Adopted by the following vote: 7-0
Request for Duty Disability
Applicant #2024-E0724 Request for Duty Disability
Discussed that another notice has been sent to applicant requesting to get additional
information. As of this meeting no additional information has been received.
There were no request for Non-Duty Disability on this agenda.
It was moved by Trustee Ebright and supported by Trustee Jefferies for the requests for Refund of
Accumulated Contribution:
Amber Teunis, Not Vested, Teamsters 243 CTP $ 5,458.20
Monica Zuchowski, Not Vested, Teamsters 243 STP $ 15,183.60
Adopted by the following Vote: 7-0
It was moved by Trustee Bahr and supported by Trustee Ebright to pay the training and education and
Invoices
MAPERS Membership Fees -$200
NCPERS Membership Fee - $315
IFEBP Conference Membership Fee - $715 total( $357.50 Split between both boards)
Regular Meeting Minutes December 17, 2024
1011 Floor, City Council Conference Room Tuesday, 9:30 a.m.
Page 3
There were not new items for training and education, it was explained by Thomas that the invoices
were inserted in the incorrect location. Also, it was explained the on the MAPERS membership form,
their preferred communication style is by email, and the email address were provided on the form,
reviewed by board and no updates.
Adopted by the following vote: 7-0
It was moved by Trustee Dedic and supported by Trustee Ebright to excuses the following members:
Trustee Garza and Trustee Kraus notified by email they wouldn't be attending meeting, and Mayor Shor
doesn't need to be excused.
Adopted by the following Vote: 7-0
There were no Public Comments for items not on the agenda
Attorney Castle no formal update, stated that he had prepared and draft and side letter agreement for
the Aristotle transition, sent to them for some clarification on some items.
There are not Pending on this agenda:
Conferenced Nathan Burke to do the monthly investment report. Report is through 11/30/2024. There
was a post US Election rally in November, with Russell 2000 and S& P 500 showing the largest gains
for the month. Bonds still stable at 1-3 % for the year, Outside the US equities are still positive for the
year but down for the month of November. Snapshot dating back to 2009, shows that November 2024
achieved new High Watermark $230.4 million for total plan assets. Actual and Target Allocations are
all in line and showing growth for the month (3.16%) and year to date (12.57). The overall portfolio is
a good place overall. Western Asset is being Replaced by Aristotle in early January.
It was moved by Trustee Bahr and supported by Trustee Ebright to Adjourn at 9:59 AM
Adopted by following vote: 7-0