HomeMy WebLinkAboutPolice and Fire Retirement Board December 17 2024 MinutesCITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
MEETING MINUTES
Regular Meeting Minutes December 17, 2024
10th Floor City Council Conference Room Tuesday, 8:30 a.m.
Meeting called to order at 8:30 by Trustee Wohlfert
Trustees Present: Kreft, Moore, Taylor, Thomas, Wilcox, Wohlfert (6)
Trustee Garza Mayor Schor Not in Attendance
Others in Attendance: Thomas Lindemann, Human Resources, Desiree Kirkland Finance Director,
Joseph Abood, City Attorney’s office, City Internal Auditor, Attorney Aaron L Castle, VonOverbeke,
Michaud & Timmony, P.C
It was moved by Trustee Moore and Supported by Trustee Wilcox to approve the Official Minutes of
the Joint Police and Fire and Employees Retirement System Board Meeting of November 18, 2024.
Adopted by the following vote: 6-0
There were no Public Comments on the Agenda
Secretary’s Report
0 sworn police/fire member(s), 0 reinstatements(s), 0 refund(s), 0 transfer(s), 1 retired. Total:
Active membership 336. 1 Death(s): Grace Clark, died 11/18/2024, age 97, Beneficiary
to IAFF Retiree, Refunds made since last regular meeting amounted to $0.00.
Reimbursements to the System year-to-date amount to $0.00. Retirement allowances for
the month of November 2024 amounted to $3,427,946.93. Total retirement checks printed
for P&F System 822. Total retirement checks printed for both systems: 1736. Domestic
relations orders received: 0. Domestic relations orders pending: 0. Eligible Domestic
Relations Order Certified: 0
It was moved by Trustee Wilcox and Supported by Trustee Moore to approve the following Application
for Regular Age and Service Retirement of the Police and Fire Retirement System:
Paul Jahjah (Firefighter, IAFF) 22 years 8 months Service Credit, Age 55, Effective
12/30/2024, Sworn date 4/15/2002
Trustee Wilcox made motion to Approve, Trustee Moore supported
Adopted by the following Vote: 6-0
Regular Meeting Minutes December 17, 2024
10th Floor City Council Conference Room Tuesday, 8:30 a.m.
Page 2
There was no request for duty disability retirement for the Police and Fire Retirement System
There was no request for Non-Duty Disability Retirement:
Request for Refund of Accumulated Contributions:
Eric Lovell, not vested, Fire Department, $6,582.33 (Tabled)
Attorney Castle presented his findings on the request for accumulated contributions after five (5)
years of separation date of employment. He stated that Mr. Lovell is not allowed to get a refund (per
the ordinance) due to it being past 5 years from separation. It was stated that since employees must
request a refund of accumulated contributions, it does not happen automatically entitled to a refund
after separation. Therefore, the contributions will remain within the retirement system.
Trustee Moore moved and supported by Trustee Kreft to un-table the request.
Adopted by the following vote: 6-0
Trustee Wilcox moved and Trustee Moore supported the motion to Deny the Request for
Accumulated Contributions by Eric Lovell.
Adopted by the following vote: 6-0
Training and Education along with Membership Invoices
MAPERS Membership Fees -$200
NCPERS Membership Fee - $315
IFEBP Conference Membership Fee - $715 total ($357.50 since split between both
boards)
Thomas Lindemann added that on the MAPERS invoice, they request to have a current email address
for the Board Members as email is their communication method of choice. Thomas stated that he
added the emails to the to the trustees that did not have one. NO changes where needed by the board
members.
Trustee Wilcox moved and Trustee Taylor supported the paying of the Invoices
Adopted by the following Vote: 6-0
Trustee Wilcox moved and Trustee Taylor supported the Excusing of Trustee Garza, Mayor Schor does
not have to be excused.
Adopted by the following vote: 6-0
Regular Meeting Minutes December 17, 2024
10th Floor City Council Conference Room Tuesday, 8:30 a.m.
Page 3
Attorney Castle gave his update on when discussed Accumulated Refunds, he had no other updates
other than wishing Happy Holidays to the Board.
There were no Pending (items) on this agenda
Nathan Burke was conferenced in to provide a report on the monthly investment performance thru
11/30/2024 for the Police and Fire Retirement System. Pointed out that Russell 2000 and S&P 500
funds showed significant growth in November post US Election, adding to the year-to-date gains.
Discussed the performance snapshot of the Retirement System back to 2009, November 2024 reached
a new High Watermark value of $393.9 million based on the strategic and long-term plan investment
plan. Went through the strategic long-term investment plan and how its diversification is falling in line
with strategic targets.
Attorney Castle informed update to Nathon on Aristotle Transition. He sent a draft to Aristotle with
some suggested changes and the transfer is still on track for early January funding.
Overall, it was stated that the Retirement system is very good position.
Trustee Moore moved and supported by Trustee Kreft to adjourn meeting at 8:45 AM
Adopted by the following vote: 6-0