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HomeMy WebLinkAbout1996 Employee's Retirement System Board MinutesOFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING ? ;1 i'; : ( ; EMPLOYEES' RETIREMENT SYSTEM f.,C11-Y CL Lr,; Regular Meeting January 18,1996 8th Floor Conference Room Thursday, 8:43 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:43 a.m. Present: Trustees Benavides, Bommarito, Brodie, Kruger, Rubley - 5. Absent: Trustees Hollister, Kehler - 2. Others: Robert Swanson, Secretary; Steve Dougan, Budget Division. It was moved by Trustee Benavides, supported by Trustee Brodie that the minutes of the regular meeting of December 21,1995 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members(s), 0 reinstatement(s),1 refund(s), 0 transfer(s), and 0 retired. Total active membership: 535. Refunds made since the last regular meeting: $3,563.54. Retirement allowances paid for the month of December, 1995: $640,924.05. Total number of ERS retirement checks printed: 582. Total retirement checks printed for all three systems: 1,048. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Benavides, supported by Trustee Kruger to approve the application for Regular Age & Service Retirement for Ronald C. Borseth, Public Service,15 years 6 months service credits, age 58, effective January 6,1996. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kruger, Rubley - 5. Nays: None. It was moved by Trustee Benavaides, supported by Trustee Brodie to approve the application for Regular Age & Service Retirement for Karen K. LaLone, Police Department, 21 years 8 months service credits, age 51, effective January 6,1996. Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Kruger, Rubley - 5. Nays: None. It was moved by Trustee Benavides, supported by Trustee Brodie to approve the request for refund of accumulated contributions for Daniel L. Fulkerson, Beneficiary of Linda Fulkerson. Adopted by the following vote: Unanimously. Employees' Retirement System Regular Meeting of January 18,1996 Page 2 Mr. Rubley updated the Board on his meeting with National Bank of Detroit (NBD). NBD will be changing how they bill us. There will be one item, cash management, that they will no longer charge. The Board will see the fees reduced about 10%. NBD will be sending a letter outlining this change. Mr. Rubley informed the Board of a conference, presented by Paine Webber, regarding commission recapture on Thursday, February 22,1996 in Grand Rapids. Trustee Brodie indicated that he would like to attend. It was moved by Trustee Bommarito, supported by Trustee Brodie to excuse Trustees Hollister and Kehler from the meeting. Adopted by the following vote: Unanimously. Other Business The Board reviewed a request for non -duty disability retirement from Gary L. Dachtler, 911 Center. It was moved by Trustee Brodie, supported by Trustee Benavides to send Gary Dachtler to our Medical Director for evaluation and certification. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the money managers. Th ee 'ng ad'our d at 9:20 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: Douglas Rubley, Chairp rson rc t OFFICIAL PROCEEDINGS OF THE BOA RD;OF TRUSTEES CITY OF LANSING ' EMPLOYEES' RETIREMENT' S'Y''S fi Regular Meeting 8th Floor Conference Room February 22,1996 Thursday, 8:43 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:43 a.m. Present: Trustees Benavides, Bommarito, Brodie, Kehler, Kruger, Rubley - 6. Absent: Trustees Hollister -1. Others: Robert Swanson, Secretary; Steve Dougan, Budget Division; James Smiertka, Law Department and Margaret Herp. It was moved by Trustee Brodie, supported by Trustee Kehler that the minutes of the regular meeting of January 18,1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members(s), 0 reinstatement(s),1 refund(s), 0 transfer(s), and 4 retired. Total active membership: 530. Refunds made since the last regular meeting: $7,504.95. Retirement allowances paid for the month of January,1996: $644,834.74. Total number of ERS retirement checks printed: 584. Total retirement checks printed for all three systems: 1,053. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. The Board reviewed a request for non -duty disability retirement for Gary L. Dachtler, 911 Center. Discussion was held. It was moved by Trustee Benavides, supported by Trustee Bommarito to approve this request. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kehler, Kruger, Rubley - 6. Nays: None. Trustee Rubley gave an update and discussion was held regarding non -economic assumptions from the Actuary. It was moved by Trustee Benavides, supported by Trustee Kehler to move toward Actuary's assumptions, based on the City's ability to fund, minimum of 25%. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kehler, Rubley - 5. Nays: Kruger -1. Employees' Retirement System Regular Meeting of February 22,1996 Page 2 Discussion was held regarding a request for information from Leon Hilton, President, UAW Local 2256 regarding dividing for actuarial purposes the system between U.A.W. and the partially -closed system. It was moved by Trustee Hollister, supported by Trustee Kehler to setup subcommittee to meet with Actuary. Trustees Rubley and Kruger volunteered to be on the subcommittee. Adopted by the following vote: Unanimously. Other Business Trustee Rubley informed the Board that the Prefunding of Health Care Report from the Actuary has been delayed until March due to the amount of work involved to prepare the report. Discussion was held regarding benefit increases. It was the Board's decision to setup a subcommittee to review. Trustee Bommarito and/or Trustee Kehler volunteered to serve on this subcommittee with Trustees Brodie, Kruger and Rubley volunteering to be on this subcommittee. The first meeting was setup for March 8,1996 at 11:00 a.m. Trustee Bommarito gave the Board the information she was able to obtain regarding Certified Employee Benefits Specialist. It was moved by Trustee Benavides, supported by Trustee Bommarito to use securities lending to pay for the cost for any Trustee interested in taking this program. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the money managers. Th eetin ad' urned at 9:45 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved onr� ZZ49 , Douglas Rubley, Chairper'sbn OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting March 21,1996 8th Floor Conference Room Thursday, 8:38 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:38 a.m. Present: Trustees Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. Others: Steve Dougan, Budget Division; James Smiertka, Law Department; Alan Sonnanstine, Gabriel, Roeder, Smith & Company; Margaret Herp and Ed Piloske. It was moved by Trustee Kehler, supported by Trustee Bommarito that the minutes of the regular meeting of February 22,1996 be approved as amended. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 1 retired. Total active membership: 529. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of February,1996: $645,904.35. Total number of ERS retirement checks printed: 582. Total retirement checks printed for all three systems: 1,052. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Kruger, supported by Trustee Brodie to approved the application for regular age and service retirement for Roger D. Robinson, Public Service Department, 19 years 2 months service credits, age 46, effective May 1,1996. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kehler, Kruger, Rubley - 6. Nays: None. Discussion was held regarding the MAPERS 1996 Spring Conference. Trustee Rubley asked that anyone interested in attending should contact Teri Cook within the week. Trustee Rubley gave an overview of the performance of the money managers. Employees' Retirement Sy --em Regular Meeting of March 21,1996 Page 2 Mr. Sonnanstine was present to give a presentation on the prefunding of health care report. Discussion was held. This item was tabled. Mr. Sonnanstine will be present at a future meeting to present funding strategies. The meeting adjourned at 10:40 a.m. -a L�� Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: zq& z Douglas Rubley, Chairp n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 8th Floor Conference Room April 18,1996 Thursday, 8:30 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:30 a.m. Present: Trustees Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; James Smiertka, Law Department; Margaret Herp and Leon Hilton. It was moved by Trustee Hollister, supported by Trustee Kehler that the minutes of the regular meeting of March 21,1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members (s) (Linda Wager, Parks & Recreation), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 1 retired. Total active membership: 529. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of March, 1996: $646,017.86. Total number of ERS retirement checks printed: 580. Total retirement checks printed for all three systems: 1,050. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Discussion was held regarding the Prefunding of Health Care Report by Gabriel, Roeder, Smith & Company. Mr. Sonnanstine has a second report which recommends where the Board should fund health care. It will include recommendations as to funding within the current system or in a separate account as well as other issues related to the I.R.C. to ensure the assets are exempt from taxation. Trustee Rubley stated that the second report was not available for this meeting but that Mr. Sonnanstine will be attending the meeting in May with this report. It was moved by Trustee Kehler, supported by Trustee Hollister to approved the application for regular age and service retirement for Donald R. Anderson, Public Service Department, 22 years 6 months service credits, age 43, effective April 24,1996. Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. r Nays: None. Employees' Retiremen, Jystem Regular Meeting of April 18,1996 Page 2 It was moved by Trustee Hollister, supported by Trustee Benavides to approve the application for regular age and service retirement for Donna L. Dachtler, Police Department, 21 years 8 months service credits, age 47, effective March 29,1996. Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. Nays: None. It was moved by Trustee Hollister, supported by Trustee Benavides to approve the application for regular age and service retirement for Larry M. Drumheller, Public Service Department, 28 years 5 months service credits, age 55, effective April 5,1996 Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. Nays: None. It was moved by Trustee Hollister, supported by Trustee Bommarito to approve the application for regular age and service retirement for Lester L. Hall, Public Service Department, 30 years 5 months service credits, age 53, effective April 5,1996. Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 7. Nays: None. Discussion was held regarding a letter sent by NBD regarding investment of cash assets for securities lending into the Woodward series of funds. It was moved by Trustee Benavides, supported by Trustee Hollister to allow investment in the four short-term cash funds. Adopted by the following vote: Unanimously. Other Business Discussion was held regarding a request for refund of contributions from Randy Chesney. It was moved by Trustee Kehler, supported by Trustee Benavides. Adopted by the following vote: Unanimously. Discussion was held regarding the firm of Berwyn. This firm, based on social security number, will do a cross check to see if any current retirees are deceased. Results from this cross check would be kept confidential. The cost to do this cross check is $725 which would be split between both retirement systems. It was moved by Trustee Benavides, supported by Trustee Hollister to contract with the Berwyn Group and that the cost to be paid form securities lending. �.�, �� � 7 Employees' Retiremer, .ystem Regular Meeting of April 18,1996 Page 3 Discussion was held regarding Lugnut tickets provided by The Hannah Group. Mr. Swanson stated that Mr. Smiertka, Mr. Rubley and himself could bring back a recommendation to the Board. Trustee Rubley gave an overview of the performance of the money managers. T m eting acjjour ed at 9:22 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: / &—, Douglas Rubley, Chairperson a OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES 1 U 4 - CITY OF LANSING 1TtiJr J �,11 EMPLOYEES' RETIREMENT SYSTEM Regular Meeting May 23,1996 8th Floor Conference Room Thursday, 8:30 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:30 a.m. Present: Trustees Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 6. Absent: Trustee Benavides -1. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Alan Sonnanstine, Gabriel, Roeder, Smith & Co.; Margaret Herp. It was moved by Trustee Hollister, supported by Trustee Brodie that the minutes of the regular meeting of April 18,1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s)(John Busley, Central Garage), 0 reinstatement(s), 1 refund(s), 0 transfer(s), and 3 retired. Total active membership: 526. Refunds made since the last regular meeting: $3,076.05. Retirement allowances paid for the month of April, 1996: $651,260.87, Total number of ERS retirement checks printed: 583. Total retirement checks printed for all three systems: 1,054. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Kehler, supported by Trustee Bommarito to approve the application for regular age and service retirement for Janice M. Wilks, Personnel Department, 23 years 1 month service credits, age 42, effective July 10,1996. Adopted by the following roll call vote: Yeas: Bommarito, Brodie, Hollister, Kehler, Kruger, Rubley - 6. Nays: None. The Board received and placed on file the request for deferred retirement for Jeffrey L. Stevens. It was moved by Trustee Hollister, supported by Trustee Kehler to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. Employees' Retirement Sy otem Regular Meeting of May 23,1996 Page 2 Mr. Sonnanstine was present to discuss the report regarding the Prefunding of Health Care. This report includes recommendations as to funding within the current system or in a separate account as well as other issues related to the I.R.C. to ensure the assets are exempt from taxation. Discussion was held. It was moved by Trustee Kehler, supported by Trustee Brodie to send this report to the City Attorney for his recommendation as to the best vehicle for use of these monies. Adopted by the following vote: Unanimously. Other Business Discussion was held regarding membership in the International Foundation of Employee Benefit Plans. It was moved by Trustee Brodie, supported by Trustee Kehler to spend $335 for a one year membership. The money for the membership to come from securities lending. Adopted by the following vote: Unanimously. Trustee Rubley informed the Board that his term expires June 30,1996. Election information will be forth coming. Trustee Rubley gave an overview of the performance of the money managers. The ling ad.' ur r at 9:43 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: Cv l Douglas Rubley, Chairp on _ 1 OFFICIA,Tv PROCEEDINGS OF THE BOARD OF TRUSTEES ' I1 CITY OF LANSING `1VIY�OYEES' RETIREMENT SYSTEM Regular Meeting 8th Floor Conference Room June 20,1996 Thursday, 8:34 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:34 a.m. Present: Trustees Benavides, Bommarito, Brodie, Hollister, Kehler, Rossi, Rubley - 7. Absent: Trustee Kruger -1. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Margaret Herp, Ed Piloske, Leon Hilton. It was moved by Trustee Hollister, supported by Trustee Brodie that the minutes of the regular meeting of May 23,1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s)Qoel Vanderbush, Parks & Recreation), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 0 retired. Total active membership: 527. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of May, 1996: $654,652.97. Total number of ERS retirement checks printed: 584. Total retirement checks printed for all three systems: 1,057. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Kehler, supported by Trustee Hollister that the application for regular age and service retirement for Jack G. Smariege, Public Service Department, 35 years service credits, age 54, effective June 8,1996 be approved. Adopted by the following roll call vote: Yeas: Benavides, Bommarito, Brodie, Hollister, Kehler, Rossi, Rubley - 7. Nays: None. It was moved by Trustee Kehler, supported by Trustee Benavides to excuse Trustee Kruger from the meeting. Adopted by the following vote: Unanimously. Employees' Retirement Sy otem Regular Meeting of June 20,1996 Page 2 Other Business Trustee Rubley informed the Board that his term expires June 30,1996 and that a memo had been sent out regarding nominating petitions and when the election would be held. The meeting adjourned at 9:05 a.m. Robert W. Swanson, Secretary Employees' Retirement System r7) '4 Minutes approved on: Douglas Rubley, Chair son OFFICIAL PROCEEDING,S.,OF THE BOARD OF TRUSTEES .-ANSING EMPLOYEES' I� CEMENT SYSTEM Regular Meeting July 18,1996 8th Floor Conference Room Thursday, 8:40 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:40 a.m. Present: Trustees Bommarito, Brodie, Kehler, Kruger, Rossi, Rubley - 7. Absent: Trustee Benavides, Hollister - 2. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Margaret Herp. The Secretary reported: 1 new members(s)(Walter Allen, Public Service Dept.), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 1 retired. Total active membership: 527. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of June, 1996: $655,426.79. Total number of ERS retirement checks printed: 582. Total retirement checks printed for all three systems: 1,057. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Mr. Dougan informed the Board that only one petition was received from Trustee Rubley whose term expired June 30,1996. Mr. Dougan stated that it was a valid petition. It was moved by Trustee Kehler, supported by Trustee Rossi to approve the application for regular age and service retirement for Joe Hanel, Public Service Department,18 years 4 months service credits, age 58, effective July 1,1996. Adopted by the following roll call: Yeas: Bommarito, Brodie, Kehler, Kruger, Rossi, Rubley - 6. Nays: None. It was moved by Trustee Kehler, supported by Trustee Brodie to approve the application from deferred retirement to regular age and service retirement for Rosemarie Kazenko, Mayor's Office, 8 years, 2 months (with 5 additional years from 1992 Early Retirement), age 51, effective July 23,1996. Adopted by the following roll call: Yeas: Bommarito, Brodie, Kehler, Kruger, Rossi, Rubley - 6. Nays: None. It was moved by Trustee Brodie, supported by Trustee Kehler to excuse Trustee Benavides. Adopted by the following vote: Unanimously. Employees' Retirement S. -cem Regular Meeting of July 18,1996 Page 2 Other Business Mr. Rubley asked the Board to consider adopting a resolution regarding awarding service credits after working 10 days in one month. The ordinance states that the Board has the power to determine service credits. The ordinance also states that 10 days is the minimum it also states that the Board has the authority to determine service credits for individuals and to make rules to carry this out. It was moved by Trustee Hollister, supported by Trustee Brodie to approve this resolution. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the money managers. The meeting adjourned at 9:06 a.m. �r Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: Douglas Rubley, Chair rson 17 OFFICIAL;POCEI,INGS OF THE BOARD OF TRUSTEES �rLE �ITYOFLANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 10th Floor Conference Room City Hall Lansing, MI 48933 September 19,1996 Thursday, 8:35 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:35 a.m. Present: Trustees Benavides, Brodie, Kehler, Kruger, Rossi, Rubley - 6. Absent: Trustee Bommarito, Hollister - 2. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division. It was moved by Trustee Kruger, supported by Trustee Brodie to approve the minutes of the regular meeting of August 22,1996. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members (s) (Charles Wolbeck, Public Service), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 0 retired. Total active membership: 524. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of August,1996: $659,694.82. Total number of ERS retirement checks printed: 584. Total retirement checks printed for all three systems: 1,065. Domestic relations orders received: 0. Domestic relations orders pending: 3. Eligible domestic relations orders certified: 0. Discussion was held regarding the medical evaluation of Harry James and the letter requesting non - duty disability retirement from Robert Lyman. No action was taken. The Board requested that Dr. Telles be available for the October meeting. It was moved by Trustee Kehler, supported by Trustee Benavides to excuse Trustees Bommarito and Hollister from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Brodie informed the Board that he had received information on the International Association of Employee Benefits Conference in November. It was moved by Trustee Benavides, supported by Trustee Kehler to allow: Employees' Retirement 5y stem Regular Meeting of September 19,1996 Page 2 1. One out-of-state conference per year per individual board member using City guidelines for out of state travel. 2. Travel or conference on non-scheduled day is not allowable as overtime. 3. Out-of-state conference are allowed with the approval of the secretary of the board upon his recommendation and in concurrence by the Board. 4. This policy with recommendation of the Board to use out of state conferences for various issues that the Board cannot gather at in state conferences. Adopted by the following vote: Unanimously. It was moved by Trustee Kehler, supported by Trustee Kruger to send Trustee Brodie to represent the Board at the International Association of Employees Benefits Conference in November. Adopted by the following vote: Unanimously. The Board reviewed a letter from Alan Sonnanstine, Gabriel, Roeder, Smith & Company, regarding actuarial services fee for 1996/97. The proposed fee is $14,300 a 2.80% increase from 1995/96. It was moved by Trustee Brodie, supported by Trustee Rossi to accept the actuarial service fee for 1996/97. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the money managers. The meeting adjour at 9:45 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on:` / Douglas Rubley, Chairperso OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 8th Floor Conference Room City Hall Lansing, MI 48933 August 22,1996 Thursday, 8:44 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:44 a.m. Present: Trustees Bommarito, Brodie, Kruger, Rossi, Rubley - 5. Absent: Trustee Benavides, Hollister, Kehler - 3. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division. It was moved by Trustee Brodie, supported by Trustee Rossi to approve the minutes of the regular meetings of June 20,1996 and July 18,1996. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 4 retired. Total active membership: 523. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of July,1996: $658,152.42. Total number of ERS retirement checks printed: 584. Total retirement checks printed for all three systems: 1,057. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Brodie, supported by Trustee Kruger to approve the application for regular age and service retirement for Pamela J. Hilton, Parks & Recreation Department 8 years 1 month service credit, age 32, effective July 14,1996. Adopted by the following roll call: Yeas: Bommarito, Brodie, Kruger, Rossi, Rubley - 5. Nays: None. It was moved by Trustee Kruger, supported by Trustee Brodie to approve the application for regular age and service retirement for Charles W. Mays, Parks & Recreation, 14 years , 4 months service credits, age 63, effective November 14,1996. }`„:;-1�? ,`, �_ ; `: Adopted by the following roll call: 10 �.. Yeas: Bommarito, Brodie, Kruger, Rossi, Rubley - 5. Nays: None. Employees' Retirement System Regular Meeting of August 22,1996 Page 2 The Board reviewed letters from Harry James, Ernest Carter and Robert Black requesting duty disability retirement. It was moved by Trustee Brodie, supported by Trustee Kruger to refer Mr. James, Mr. Carter to the Medical Director for her recommendation and Mr. Black to be referred to the Medical Director contingent upon the City Attorney's advice. Adopted by the following vote: Unanimously. It was moved by Trustee Rossi, supported by Trustee Brodie to excuse Trustees Benavides, Hollister and Kehler from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Rubley informed the Board that he had received communication from the National Bank of Detroit informing the Board that they will no longer be in the master trust business as of March 1, 1997. They recommended Northern Trust of Chicago. It was moved by Trustee Kruger, supported by Trustee Brodie to do a custodial bank search through The Hannah Group and also to begin the process of a consultant search. Adopted by the following vote: Unanimously Trustee Rubley gave an overview of the performance of the money managers. The ' g adjou ed at 9:17 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: �? Z ��� Douglas Rubley, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting October 17,1996 10th Floor Conference Room Thursday, 8:40 a.m. City Hall Lansing, MI 48933 The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:40 a.m. Present: Trustees Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rossi, Rubley - 6. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Alan Sonnanstine, Gabriel, Roeder, Smith & Company; Brian Bevez and Jack Roberts, Law Department; Ed Piloske, Margaret Herp, Delores White, Amy Fraser, Clarence Olson, Carol Husband and Louis Husband. It was moved by Trustee Benavides, supported by Trustee Brodie to approve the minutes of the regular meeting of September 19,1996. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 0 retired. Total active membership: 524. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of September, 1996: $659,667.38. Total number of ERS retirement checks printed: 584. Total retirement checks printed for all three systems: 1,062. Domestic relations orders received: 0. Domestic relations orders pending: 3. Eligible domestic relations orders certified: 0. Discussion was held regarding the request for duty disability retirement for Robert J. Black. It was moved by Trustee Brodie, supported by Trustee Benavides to deny this request based on the City Attorney opinion. Adopted by the following vote: Unanimously. Discussion was held regarding the request for duty disability retirement for Robert D. Lyman. It was moved by Trustee Kehler, supported by Trustee Rossi to approve. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kehler, Kruger, Rossi, Rubley - 7. Nays: None. iJ C7 Employees' Retirement Sy, _m Regular Meeting of October 17,1996 Page 2 Discussion was held regarding the request for duty disability retirement for Harry James. It was moved by Trustee Benavides, supported by Trustee Kehler to table this item until the November meeting. Adopted by the following vote: Unanimously. The Board reviewed letters from Todd L. Kaatz and Robert T. Childs requesting to defer their retirement. It was moved by Trustee Kehler, supported by Trustee Benavides to approve. Adopted by the following vote: Unanimously. Mr. Roberts was present to review the ordinance for rehiring of retirees. Discussion was held. It was the Board's decision to send a letter, from Robert Swanson, to the affected bargaining units which would include Teamster 580 and Teamster 214, U.A.W., FOP-911. This item was tabled until the November meeting. Mr. Alan Sonnanstine, Gabriel, Roeder, Smith & Company, was present to give an overview of the actuarial report for December 31,1995. Trustee Rubley gave an overview of the performance of the money managers. The meeting adjourrwd at 10:21 a.m. z ),�� Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on: Douglas Rubley, Chairpe OFFICIAL' PROCEEDINGS OF THE BOARD OF TRUSTEES CLE ( CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 8th Floor Conference Room City Hall Lansing, MI 48933 November 21,1996 Thursday, 8:35 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:35 a.m. Present: Trustees Benavides, Bommarito, Brodie, Hollister, Kehler, Kruger, Rossi, Rubley - 8. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Alan Sonnanstine, Gabriel, Roeder, Smith & Company; James Smiertka, Jack Roberts, Law Department; Sheila Ide, Personnel Department; Dr. Telles, Ed Piloske, Margaret Herp, Maxine Marcus, Dalton Marcus, Delores White, Doria Ball, Dennis Schrier, Lawrence Holliday, Henry Newhouse, Joe Vaydek, Thelma Steed, Harry James, Bruce Leavitt, Vada Dodge, Carol Husband. It was moved by Trustee Brodie, supported by Trustee Kruger to approve the minutes of the regular meeting of October 17,1996. Adopted by the following vote: Unanimously. The Secretary reported: 3 new members(s)(Evin Fobbs, Brad Lance, Scott Oberlin, Public Service), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 1 retired. Total active membership: 526. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of October,1996: $660,288.35. Total number of ERS retirement checks printed: 585. Total retirement checks printed for all three systems: 1,063. Domestic relations orders received: 0. Domestic relations orders pending: 3. Eligible domestic relations orders certified: 0. Discussion was held regarding the duty disability retirement for Harry James. It was moved by Trustee Brodie, supported by Trustee Bommarito to deny this claim. Failed by the following roll call: Yeas: Bommarito, Brodie, Kruger, Rubley - 4. Nays: Benavides, Hollister, Kehler - 3. Abstained: Rossi -1. Employees' Retirement System Regular Meeting of November 21,1996 Page 2 Further discussion was held regarding the duty disability retirement for Harry James. It was moved by Trustee Brodie, supported by Trustee Kehler to table this item until the December meeting and request that the City Attorney be present at this meeting. Adopted by the following roll call: Yeas: Benavides, Bommarito, Brodie, Kehler, Kruger, Rossi, Rubley - 7. Nays: Hollister -1. Discussion was held regarding the duty disability retirement for Ernest Carter. Mr. Carter is currently residing in Arizona and his medical records are there. Dr. Telles had not seen Mr. Carter since October,1994. Dr. Telles can get information on Mr. Carter if he signs a release of information form. It was moved by Trustee Kehler, supported by Trustee Bommarito to contact Mr. Carter for release to get additional information. Adopted by the following vote: Unanimously. It was moved by Trustee Kehler, supported by Trustee Bommarito to excuse Trustee Hollister from the remainder of the meeting. Adopted by the following vote: Unanimously. Trustee Benavides left the meeting at 10:15 a.m. It was moved by Trustee Rossi, supported by Trustee Bommarito to excuse Trustee Benavides on the remaining agenda items. Adopted by the following vote: Unanimously. Mr. Sonnanstine gave a presentation on the various options that could be used for a pay increase for retirees from the contingency reserve. Discussion was held. It was the Board's decision to have a subcommittee to discuss Mr. Sonnanstine's options. Trustees Bommarito, Brodie, Kruger, Rossi and Rubley volunteered to serve on this committee. Trustee Rossi to chair this subcommittee. Mr. Roberts, from the Law Department, and Trustee Rubley gave an overview on two proposed ordinances. The first ordinance would provide that retirants returning to City employment in positions covered by the City of Lansing Money Purchase Pension Plan would be subject to said plan and shall not again become members of the Employees Retirement System. Employees' Retirement System Regular Meeting of November 21,1996 Page 3 The second ordinance would provide that members hired on or after the covered position effective dates and who are in noncovered positions shall terminate membership in the retirement system as a condition of accepting transfers into covered positions; and to provide for the transfer of assets to the successor retirement plan on behalf of said members. Discussion was held. It was moved by Trustee Bommarito, supported by Trustee Brodie to forward the two ordinances to Council in January. Adopted by the following roll call: Yeas: Bommarito, Brodie, Kehler, Rossi, Rubley - 5. Nays: Kruger -1. Minutes approved on: AZ/,// � Douglas Rubley, Chairperso-o- The ting adjourn at 11:20 a.m. Robert W. Swanson, Secretary Employees' Retirement System i OFFICIAL PROCEEDINGS OF THE BOARD OF, TI�U�^'�-ttS CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting 8th Floor Conference Room City Hall Lansing, MI 48933 December 19,1996 Thursday, 8:39 a.m. The Board met in regular session and was called to order by Chairperson Doug Rubley at 8:39 a.m. Present: Trustees Benavides, Brodie, Hollister, Kruger, Rossi, Rubley - 6. Absent: Trustee Bommarito -1. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; James Smiertka, Jack Jordan, Law Department; Kevin Leonard, The Hannah Group. It was moved by Trustee Brodie, supported by Trustee Kruger to approve the minutes as amended of the regular meeting of November 21,1996. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s)(Matthew Chvojka, Parks & Recreation), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 2 retired. Total active membership: 525. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of November, 1996: $659,629.66. Total number of ERS retirement checks printed: 583. Total retirement checks printed for all three systems:1,062. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. The Board reviewed the duty disability medical evaluation for Harry James. Discussion was held. It was moved by Trustee Hollister, supported by Trustee Rossi to table this item until the February meeting. The Board reviewed the duty disability medical evaluation for Ernest Carter. Discussion was held. It was moved by Trustee Hollister, supported by Trustee Brodie to deny this request. Adopted by the following roll call: Yeas: Benavides, Brodie, Hollister, Kruger, Rossi, Rubley - 6. Nays: None. Employees' Retirement System Regular Meeting of December 19,1996 Page 2 It was moved by Trustee Kruger, supported by Trustee Brodie to approve the application for regular age and service retirement for Vilo D. Acker, Parks and Recreation Department, 25 years service credits, age 55, effective January 4,1997. Adopted by the following roll call: Yeas: Benavides, Brodie, Hollister, Kruger, Rossi, Rubley - 6. Nays: None. The Board reviewed the request for refund of accumulated contributions from Kassandra DeMyers. It was moved by Trustee Hollister, supported by Trustee Brodie to approve this request. Adopted by the following vote: Unanimously. It was moved by Trustee Benavides, supported by Trustee Hollister to elect Trustee Rubley as Chairperson and Trustee Brodie as Vice Chairperson. Adopted by the following vote: Unanimously. It was moved by Trustee Hollister, supported by Trustee Rossi to approve the schedule of meeting dates for calendar year 1997. Adopted by the following vote: Unanimously. It was moved by Trustee Hollister, supported by Trustee Benavides to excuse Trustee Bommarito from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Brodie stated that the membership dues in the International Foundation in the amount of $485 are up for renewal. It was moved by Trustee Brodie, supported by Trustee Hollister to renew the membership and that it would be paid for out of securities lending. Adopted by the following vote: Unanimously. Minutes approved on: 1 Z G Douglas Rubley, Chairperso Th ee g add*ur at 9:30 a.m. Robert W. Swanson, Secretary Employees' Retirement System CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM 1996 CHAIR - Doug Rubley Tony Benavides-Council Sharon Bommarito-Personnel John Brodie -Parks David Hollister -Mayor Judyth Kehler -Treasurer Ronald L. Kruger Lynda Rossi -Citizen Douglas Rubley LAHS111,' J" U { t CL E 1i VICE CHAIR - John Brodie