HomeMy WebLinkAbout3.18.25 Police and Fire Retirement Board MinutesOFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
MEETING MINUTES
Regular Meeting January 21, 2025
10th Floor Conference Room Tuesday, 8:30 a.m.
The meeting was called to order at 8:32 a.m.
Present: Trustee Kreft, Moore, Schor, Wilcox, Wohlfert – 5.
Absent: Garza, Taylor, Thomas (Excused)
Others present: Karen E. Williams, Thomas Lindemann, Human Resources Department, Attorney
Joseph Abood, City Attorney’s Office; Attorney Aaron Castle, VanOverbeke, Michaud and Timmony;
Nathan Burk (via phone), Asset Consulting Group.
Karen Williams reported a memo from the City Council that Jeremy Garza has been appointed as the
City Council representative for 2025.
It was moved by Trustee Wilcox and supported by Trustee Moore to accept the City Council notice of
appointment and to place the letter on file.
Adopted by the following vote: 5 – 0.
It was moved by Trustee Wilcox and supported by Trustee Moore to approve the Police and Fire
Retirement System Board Meeting minutes of December 17, 2024.
Adopted by the following vote: 5 – 0.
There were no public comments for items on the agenda.
Secretary’s Report:
11 sworn police/fire member(s), 0 reinstatements(s), 0 refund(s), 0 transfer(s), 1 retired.
Total: Active membership 333. 1 Death(s): James Bashore (Retired IAFF) died
12/12/2024, age 80, Beneficiary to receive 50%. 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 December 2024 amounted to $3,422,691.23. Total
retirement checks printed for P&F System 819. Total retirement checks printed for both
systems: 1730. Domestic relations orders received: 0. Domestic relations orders pending:
0. Eligible Domestic Relations Order Certified: 0
It was moved by Trustee Moore and supported by Trustee Kreft to approve the following request for
Regular Age and Service Retirement:
Brent Sorg, (CCLP Supervisory), 25 years of service, Age 50, Effective 2/14/2025,
Sworn Date 3/13/2000
Adopted by the following vote: 5 - 0.
Police and Fire Retirement System January 21, 2025
Meeting Minutes Tuesday, 8:30 a.m.
Page 2
There were no requests for Duty Disability Retirement.
There were no requests for Non-Duty Disability Retirement.
It was moved by Trustee Wilcox and supported by Trustee Moore to approve following request for
refund of accumulated contributions:
Mikal A. Cook, (CCLP Non-Supervisory), not vested, $22,214.10
Adopted by the following vote: 5 – 0.
Karen Williams reported the 2025 Travel and Business Expenses for the City of Lansing. Ms. Williams
noted that the mileage reimbursement had increased to 70 cents per mile.
It was adopted by Trustee Wilcox and supported by Trustee Kreft to adopt the 2025 City of Lansing
Travel and Business Expenses for in-state travel and the IRS per diem rates for out-of-state travel to
append to the Police and Fire Retirement Board Policy.
Adopted by the following vote: 5 -0.
There were no public comments for items not on the agenda.
Karen Williams reported that Trustee Garza, Trustee Taylor and Trustee Thomas requested to be
excused from the January meeting.
It was moved by Trustee Moore and supported by Trustee Schor to excuse Trustee Garza, Trustee
Taylor and Trustee Thomas from the January 2025 meeting.
Adopted by the following vote: 5 -0.
Ms. Williams provided the following invoices for approval: from T. Rowe Price, $36,381.22; Western
Asset, $34,928.35.
It was moved by Trustee Wilcox and supported by Trustee Moore to approve the Police and Fire
Retirement System Board invoices for payment for the month of December.
Adopted by the following vote: 5- 0.
Attorney Castle provided an overview professional services review schedule. Attorney Castle indicated
that the actuary was subject to review this year. Attorney Castle noted that PA202 required that either
the actuary be replace of a peer actuarial audit be done. Both boards have the same actuary and
Attorney Castle will discuss a review process at the Joint meeting.
Police and Fire Retirement System January 21, 2025
Meeting Minutes Tuesday, 8:30 a.m.
Page 3
It was moved by Trustee Wilcox and supported by Trustee Moore to nominate and elect Eric Wohlfert
as chairperson of the Police and Fire Retirement Board.
Trustee Eric Wohlfert accepted the nomination.
Adopted by the following vote: 5- 0.
It was moved by Trustee Schor and supported by Trustee Kreft to nominate and elect Justin Moore as
vice chairperson of the Police and Fire Retirement Board.
Trustee Justin Moore accepted the nomination.
Adopted by the following vote: 5 – 0.
Karen Williams provided the 2025 Police and Fire Retirement System Subcommittees:
Disability Committee: Wilcox, Taylor, Moore, Wohlfert
Investment Committee: Thomas, Wohlfert, Moore, Wilcox
Education Committee: Taylor, Kreft, Garza, Thomas
Special Projects: Moore, Wohlfert, Thomas, Ex-Officio Legal Counsel
Karen Williams presented the 2025 Police and Fire Retirement System Budget.
Karen Williams noted that that the Retirement Payroll had been increased to $41,000,000.
It was moved by Trustee Kreft and supported by Trustee Wilcox to accept the ACG Transparency Letter
and attach the Board’s Ethics Policy.
Adopted by the following vote: 5 -0.
Mr. Nathan Burk reviewed the Monthly Investment Report for the month ending December 31, 2023.
Mr. Burk indicated that the Boards would review asset allocation at its Joint Meeting in February.
It was moved by Trustee Moore and supported by Trustee Wilcox to adjourn the Police and Fire
Retirement System January meeting.
Adopted by the following vote: unanimous.
The meeting ended at 9:03 a.m.
Minutes approved on 2/18/2025.
_______________________
Desiree Kirkland, Secretary
Police and Fire Retirement System
_____________________________
Eric P. Wohlfert, Chairperson
Police and Fire Retirement System