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Home My WebLink About2000 Employee's Retirement System Board MinutesOFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEE$}17 CITY OF LANSING c EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 January 27, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:53 a.m. Present: Trustees Antekeier,Brodie,Rhode,Rossi, Rubley - 5. Absent: Adado, Bommarito, Hollister Others: Gary E. Gustafson, Finance It was moved by Trustee Rhode and supported by Trustee Brodie to approve the minutes of the regular meeting of December 16,1999. Adopted by the following vote: Unanimously. The Secretary reported: 1 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 December, 1999: $767,957.98. Total number of ERS retirement checks printed: 611. Total retirement checks printed for all three systems: 1,165. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Brodie supported by Trustee Rossi to approve the request for Regular Age & Service Retirement (From Deferred) for Brinton L. Butler, Police System Analysis, 18 years 7 months service credits, age 47, effective January 23, 2000. Adopted Unanimously Motion was made By Trustee Rhode excuse Trustees Adado, Bommarito, Adopted Unanimously supported by Trustee Antekeier to and Hollister. Members of the various sub -committees were re-established with these Trustees serving on the following committees. Disability - Antekeier, Brodie, Rossi Investment - Adado, Antekeier, Brodie Education - Bommarito, Rhode, Rubley Ad -hoc - Adado, Bommarito, Rossi Employees' Retirement System Minutes from Regular Meeting January 27, 2000 page 2. Mr. Rubley gave the investment report for November and December. The meeting adjour ed at 9:45 a.m. I Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on 1�> r Douglas Rubley, Chairper on CEIVED OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING 23 05 EMPLOYEES' RETIREMENT SYSTEM CiI'r` CLERti Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 February 17, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:38 a.m. Present: Trustees Adado,Antekeier,Bommarito,Brodie,Rhode,Rossi, Rubley - 7. Absent: Hollister Others: Gary E. Gustafson, Bob Swanson, Finance; Jack Jordan Law Department. It was moved by Trustee Rhode and supported by Trustee Antekeier to approve the minutes of the regular meeting of January 27, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members (s), 0 reinstatement (s), 0 refund (s), 0 transfer (s), and 3 retired. Total active membership: 522. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of January 2000: $778,000.41. Total number of ERS retirement checks printed: 614. Total retirement checks printed for all three systems: 1,172. Domestic relations orders received: 1. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following Age & Service Retirements in total. Henry Hernandez, Planning and Neighborhood Development, 25 years 1 month service credits, age 52, effective February 18, 2000.' Larry Bennett, Public Service, 28 years 2 months service credits, age 58, effective March 1, 2000. Jeanette Ristow, Planning and Neighborhood Development, 13 years 11 months service credits, age 55, effective March 3, 2000. Dixie Battin, City Clerk, 17 years and 2 months service credits, age 49, effective March 6, 2000. Employees' Retirement System Minutes from Regular Meeting February 17, 2000 page 2. Eric Reickel, Parks and Recreation, 11 years and 1 month service credits, age 64, effective March 20, 2000. It was moved by Trustee Adado and supported by Trustee Brodie to approve the above applications for Regular Age and Service Retirements, Yeas: Adado, Antekeier, Bommarito, Brodie, Rhode, Rossi, Rubley Nays: None Motion was made by Trustee Adado and supported by Trustee Antekeier to excuse Trustee Hollister. Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee.Rhode to pay for Trustees attending a Due Diligence inspection to Forstmann Leff in (May) or Ariel Capital in (February). Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Brodie to Conduct an Experience Study and pay for it through Securities Lending. Adopted Unanimously Mr. Rubley gave the investment report for January. The meeting adjourned at 9:16 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on e Cf Douglas Rubley, Chairper on OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM; o Regular Meeting March 2372d�)0 Council Conference Room Thursday;- 8.-3'0 a.m. loth Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:38 a.m. Present: Trustees Adado,Antekeier,Bommarito,Rhode,Rossi,Rubley - 6. Absent: Brodie,Hollister Others: Gary E. Gustafson, Bob Swanson, Finance; Jack Jordan Law Department; Margaret Herp, Retiree. It was moved by Trustee Rossi and supported by Trustee Antekeier to approve the minutes of the regular meeting of February 17, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 2 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 1 retired. Total active membership: 523. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of February 2000: $778,000.41. Total number of ERS retirement checks printed: 612. Total retirement checks printed for all three systems: 1,169. Domestic relations orders received: 1. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following Age & Service Retirements together. Michael L. Gillison Sr., Planning and Neighborhood Development, 27 years 7 months service credits, age 47, effective April 1, 2000. Joseph Davidowicz, Public Service, 14 years 2 months service credits, age 58, effective March 1, 2000. It moved by Trustee Antekeier and supported by Trustee Rhode to approve the above applications for Regular Age and Service Retirements. Adopted Unanimously Motion was made by Trustee Adado and supported by Trustee Rossi to excuse Trustees Brodie and Hollister. Employees' Retirement System Minutes from Regular Meeting March 23, 2000 page 2. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Rossi to send up to two people to the National Conference on Public Employees Retirement System conference from April 30 to May 5. Adopted Unanimously It was moved by Trustee Antekeier and supported by Trustee Rossi to authorize the chair of the ERS committee to sign a new contract changing the fees with Loomis Sales. Adopted Unanimously The pending item of Insurable Interest was assigned to the Education Committee. Two of the other pending items, (Service Credit Request and a Request for a Retiree on the Board) was referred to the Ad Hoc Committee. It was moved by Trustee Rhode and supported by Trustee Antekeier to hire Gabriel Roeder Smith and Company to make a Information Brochure for employees. Adopted Unanimously. The Investment Report was not given. Minutes approved on CD Douglas Rubley, Chairpe on The meeting adjourned at 9:05 a.m. Robert W. Swanson, Secretary Employees' Retirement System OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 April 20, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:40 a.m. Present: Trustees Adado,Antekeier,Brodie,Rhode,Rossi,Rubley - 6. Absent: Bommarito,Hollister Others: Gary E. Gustafson, Bob Swanson, Finance; Jack Jordan Law Department; Margaret Herp, Dee White, Retirees. It was moved by Trustee Adado and supported by Trustee Rhode to approve the minutes of the regular meeting of March 23, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 2 new members (s), 0 reinstatement (s), 0 refund(s), 0 transfer(s), and 5 retired. Total active membership: 520. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of March 2000: $783,487.74. Total number of ERS retirement checks printed: 615. Total retirement checks printed for all three systems: 1,173. Domestic relations orders received: 0. Domestic relations orders pending: 1. Eligible domestic relations orders certified: 0. It was moved by Trustee Adado and supported by Trustee Brodie to approve the request for Regular Age and Service Retirement (From Deferred) for James D. Myers, Assessors Office, 16 years 10 months service credits, age 61, effective March 24, 2000, Adopted unanimously Motion was made by Trustee Adado and supported by Trustee Rhode to excuse Trustees Bommarito and Hollister. Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee Rhode to approve a-p,�dy that is interested in attending the Year 2000 International Conference to be held in November. Adopted Unanimously 9 Employees' RetirementkSystem Minutes from Regular Meeting April 20, 2000 page 2. It was moved by Trustee Rhode and supported by Trustee Antekeier to do a Summary Plan Description and to do an annual Employee Informational Booklet. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Brodie to approve the service credit request for Teri Cook. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Brodie to expand the ERS Board to nine members including one retiree to be appointed by the mayor and the retiree must be a resident of the City of Lansing. This will require an ordinance change. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Brodie to pay one half of the cost for the retirement seminar to be held at Potter Park. Yeas: Adado, Antekeier, Brodie, Rhode, Rubley Abstained: Rossi Nays: None It was moved by Trustee Brodie and supported by Trustee Adado to begin a search for a new International Manager. Adopted Unanimously It was moved by Trustee Rhode and supported by Trusted Brodie to approve the Education Committees recommendation concerning Travel Guidelines. These guidelines will be published and provided to all Trustees. Adopted Unanimously Mr. Rubley gave the investment report for March. The me g adjo ne=at10:00 a.m. Rober W. Swanson, Secretary Employees' Retirement System Minutes approved on J!'Z Douglas Rubley, Chaim erson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES �. 55 CITY OF LANSING �: �t�I �0 EMPLOYEES' RETIREMENT SYSTEM` Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 June 22, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:42 a.m. Present: Trustees Adado, Antekeier,Brodie,Rhode,Rossi,Rubley - 6. Absent: Bommarito,Hollister Others: Gary E. Gustafson, Finance; Jack Jordan Law Department: Mike Parker, Leon Hilton, Shawn Crisp, Margaret Herp, and Robert Moye It was moved by Trustee Rossi and supported by Trustee Brodie to approve the minutes of the regular meeting of May 18, 2000. 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: 518. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of May 2000: $787,931.38. Total number of ERS retirement checks printed: 615. Total retirement checks printed for all three systems: 1,178. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 1. Motion was made by Trustee Adado and supported by Trustee Brodie to excuse Trustees Bommarito and Hollister. Adopted Unanimously Motion was made by Trustee Adado and supported by Trustee Rhode to move the Shawn Crisp issue to the Ad Hoc Sub -Committee for recommendation after reviewing Jack Jordan's opinion. Adopted Unanimously Travel Guide Lines were referred to the Education Committee with action to be taken in July meeting. Mr. Rubley gave the investment report for April. Employees' Retirement System Minutes from Regular Meeting June 22, 2000 page 2. The mee g ad'ou ned at 9:33 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT.:SYSTEM Regular Meeting Council Conference Room loth Floor City Hall Lansing, MI 48933 July 20, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Adado, Antekeier,Bommarito,Brodie,Rhode,Rossi,Rubley - 7. Absent: Trustee Hollister Others: Gary E. Gustafson, Bob Swanson Finance; Jack Jordan Law Department: and four retirees. It was moved by Trustee Adado and supported by Trustee Antekeier to approve the minutes of the regular meeting of June 22, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 3 new members (s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 0 retired. Total active membership: 521. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of June 2000: $789,314.40. Total number of ERS retirement checks printed: 615. Total retirement checks printed for all three systems: 1,177. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Antekeier and supported by Trustee Brodie to approve the request for Regular Age and Service Retirement for Darrell Stratton, Public Service Waste Water, 17 years 2 months service credits, age 59, effective July 8, 2000. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Rhode to accept Dr. Chiodo's report recommending a Duty Disability Retirement for Jeff Nielsen. It was also recommended to have an annual review of Mr. Nielsen's condition per the ordinance. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Rossi after Employees' Retirement System Minutes from Regular Meeting July 20, 2000 page 2. receiving an attorney's opinion concerning Shawn Crisp's request to remain in the Employees Retirement System that the Board does not have the authority to rule on this request. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Rhode to approve the ERS Travel Guidelines as amended. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Rhode to re -draft the ordinance for adding a retiree to the ERS board and send to the mayor for forwarding to City Council. Adopted Unanimously Motion was made by Trustee Adado and supported by Trustee Antekeier to excuse Trustee Hollister. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to send whoever is interested to the Mapers Fall Conference. Adopted Unanimously Mr. Rubley gave the investment report for May. The meeting adjo rned at 10:06 a.m. Robert . Swanson, Secretary Employees' Retirement System Minutes approved on �� Douglas Rubley, Chairpe on OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES, e CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM. - Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 August 17, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:38 a.m. Present: Trustees Adado, Bommarito,Brodie,Rhode,Rubley - 5. Absent: Trustees Antekeier, Hollister, Rossi Others: Robin Noe, Bob Swanson Finance; Jim Smiertka Law Department: Margaret Herp retiree. It was moved by Trustee Adado and supported by Trustee Brodie to approve the minutes of the regular meeting of July 20, 2000 after being revised. 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: 520. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of July 2000: $790,672.07. Total number of ERS retirement checks printed: 616. Total retirement checks printed for all three systems: 1,179. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was decided to move Option A (Insurable Interest) to pending and to refer it to the Law Department. An extended discussion was held concerning all Teamster and exempt "window people" who are eligible to return to the Employees Retirement System. Some of the issues discussed were how to transfer the money from the Defined Contribution Money Purchase Pension Plan, the timing involved, and the need for the drafting of an ordinance change. Motion was made by Trustee Adado and supported by Trustee Brodie to excuse Trustees: Antekeier, Hollister, Rossi Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting August 17, 2000 page 2. The board was reminded of the coming Retirement Seminar. Motion was made by Trustee Rhode and supported by Trustee Brodie to authorize Chair Rubley to sign the new contract with Asset Consulting concerning the change of ownership. Adopted Unanimously Motion was made by Trustee Adado and supported by Trustee Brodie to authorize the signing of contracts that were changed with Northern Trust. Adopted Unanimously Mr. Rubley gave the investment report for June. The meeting ad our d at 9:40 a.m. R6 Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairpisrson OFFICIAL PROCEEDINGS OF THE BOARD.OF.TRUSTEES:- CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room loth Floor City Hall Lansing, MI 48933 September 21, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:40 a.m. Present:Trustees Adado,Antekeier, Bommarito,Brodie,Rhode, Rossi,Rubley, - 7. Absent: Trustees Hollister Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan Law Department: It was moved by Trustee Rossi and supported by Trustee Brodie to approve the minutes of the regular meeting of August 17, 2000. 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: 519. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of August 2000: $790,890.71. Total number of ERS retirees 616. 2 deaths. Total retirement checks printed for all three systems: 1,180. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following Age & Service Retirements together. Daniel McCullough, 911 Supervisor, 22 years 3 months service credits, age 43, effective October 3, 2000. (415 Applies) Dan Puuri, Research Analyst (Police), 21 years 4 months service credits, age 43, effective October 2, 2000. (415 Applies) John Vaydik, Supervisor Waste Water, 29 years 6 months service credits, age 49, effective October 2, 2000. Diane Townsend, Parks & Recreation, 22 years 8 months service credits, age 51, effective October 21, 200 Employees' Retirement System Minutes from Regular Meeting September 21, 2000 page 2. It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the above applications for Regular Age & Service Retirements. Adopted Unanimously The board discussed the passing of the ordinance by City Council adding a retiree to the Employees Retirement Board. This is to take effect immediately and the member will be a City resident appointed by the mayor. The City Council will still approve the appointee. It was moved by Trustee Antekeier and supported by Trustee Brodie to excuse Trustee Hollister. Adopted Unanimously The Travel Guidelines were distributed and explained to the board members. The Deferred Retirements of James Young and Michael Pelot were noted by the board. It was mentioned to the board that The Law Department is working on Option A (Insurable Interest). Trustee Rubley gave a brief update on the status of the Benefit Booklets being prepared by Gabriel, Roeder, Smith & Company. Trustee Rubley explained that the contracts for Forstmann Leff and Ariel Capital still need to be revised before that can be accepted. It was moved by Trustee Adado and supported by Trustee Brodie to revise the investment guidelines for the Employees Retirement System to 60o Equities broken down to 10o International, 10o Small Mid Cap and 40o Large Cap; 37.5% Bonds; and 2.5% Real Estate. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to approve the Due Diligence trip to St. Louis for Trustee Brodie. Adopted Unanimously The Investment Report was not given. Employees' Retirement System Minutes from Regular Meeting September 21, 2000 page 3. The meeting adjou ned at 9:50 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on /C� L... . - -_ Douglas Rubley, Chairpe on OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room loth Floor City Hall Lansing, MI 48933 October 19 ?-000..'`., Thursday, 8:�0 a.m. Cr ' The Board met in regular session and was called to order at 8`-35ta.m. Present:Trustees Adado,Antekeier,Brodie,Rhode, Rossi,Rubley, - 6. Absent: Trustees Bommarito, Hollister Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan Law Department: It was moved by Trustee Adado and supported by Trustee Antekeier to approve the minutes of the regular meeting of September 21, 2000. 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: 515. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of September 2000: $790,819.19. Total number of ERS retirees 616. 1 death. Total retirement checks printed for all three systems: 1,179. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Adado and supported by Trustee Antekeier to excuse Trustees Bommarito and Hollister. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Brodie to authorize the chair to approve travel expenses over the normal limits. Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Antekeier to pay Gabriel, Roeder, Smith and Company for the basic retainer fees adjusted per the consumer price index for year 2001. The motion also included the fees for the Actuary to resubmit our plan to the IRS and report annually on the sufficiency of the Employees Retirement System. Adopted Unanimously r' Employees' Retirement System Minutes from Regular Meeting October 19, 2000 page 2. Trustee Rubley and Jack Jordan are finishing the Option A (Insurable Interest) guidelines. It was moved by Trustee Adado and supported by Trustee Brodie to spend up to $100.00 for an appreciation gift for Alan Sonnanstine. Adopted Unanimously The Employees Retirement System meeting scheduled for November 16, 2000 was canceled and rescheduled for November 27, 2000. The meet' adjo rn d at 9:35 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on ,11Z?--71VL) V� Douglas Rubley, Chairperson 7. OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES 1 32 CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM - Regular Meeting Council Conference Room loth Floor City Hall Lansing, MI 48933 November 27, 2000 Monday,11:30 a.m. The Board met in regular session and was called to order at 8:35 a.m. Present:Trustees Adado,Antekeier,Brodie,Rhode, Rossi,Rubley, - 6. Absent: Trustees Bommarito, Hollister Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan Law Department: It was moved by Trustee Adado and supported by Trustee Antekeier to approve the minutes of the regular meeting of September 21, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 0 retired. Total active membership: 516. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of October 2000: $800,357.01. Total number of ERS retirees 619. 3 deaths. Total retirement checks printed for all three systems: 1,185. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Adado and supported by Trustee Antekeier to approve.the request for Regular Age and Service Retirement for Jack E. Cary, Park Police, 16 years 11 months service credits, age 60, effective November 1, 2000. (From Deferred) Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee Adado to approve Non Duty Disability Retirements for Jane Priestly and Albert Howell per the Medical Director's report effective November 28, 2000. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to excuse Trustees Hollister and Rossi. Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting November 27, 2000 page 2. Judge James J. Wood's retirement effective January 1, 2001 was noted as he is entitled to Medical Coverage. It was moved by Trustee Rhode and supported by Trustee Adado to transfer $10,646,873 from the Reserve for Employers Contributions to the Reserve for Retired Benefit Payments. Adopted Unanimously Mr. Rubley gave the investment report for September. The meeting adjouryVed at 12:27 p.m. Robert W. Swanson, Secretary Employees` Retirement System Minutes approved on Douglas Rubley, Chairp rson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES.., CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting December 21, 2000 Council Conference Room Thursday, 8:30 a.m. loth Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:57 a.m. Present:Trustees Adado, Antekeier, Bommarito,Brodie,Rhode,Rubley, - 6. Absent: Trustees Hollister, Rossi Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan Law Department: It was moved by Trustee Adado and supported by Trustee Brodie to approve the minutes of the regular meeting of November 27, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members (s), 41 reinstatement(s), 0 refund (s), 0 transfer (s), and 1 retired. Total active membership: 557. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of November 2000: $802,056.95. Total number of ERS retirees 619. 1 death. Total retirement checks printed for all three systems: 1,184. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following Age & Service Retirements together. Joseph W. Delaney, Chief Plumbing Inspector, Building Safety, 16 years service credits, age 64, effective January 12, 2001. Sharon L. Siebert, District Court, 19 years 9 months service credits, age 46, effective January 4, 2001 Marilyn M. Slade, City Clerk, 10 years 8 months service credits, age 58, effective January 3, 2001 Ivan W. Latoski Sr., Public Service, 22 years 3 months service credits, age 63, effective January 8, 2001. Employees' Retirement System Minutes from Regular Meeting December 21, 2000 page 2. Brenda J. Fernholz, District Court, 26 years service credits, age 48, effective January 5, 2001. It was moved by Trustee Adado and supported by Trustee Antekeier to approve the above applications for Regular Age & Service Retirements Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to excuse Trustee Hollister and Rossi. Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the 2001 meeting dates as scheduled. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to keep Trustee Rubley as Chair and Trustee Brodie as Vice -Chair for 2001. Adopted Unanimously Jack Jordan gave a legal opinion on bond investments. Mr. Rubley stated that contracts have been signed by Ariel Capital and Forstmann Leff. Ariel is being funded in December and Forstmann will be funded in January. It was moved by Trustee Brodie and supported by Trustee Adado to authorize investing up to a maximum of 5% in high yield bonds. Adopted Unanimously Mr. Rubley gave the investment report for November. The meeting adjou ned at 10:06 p.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on j Douglas Rubley, Chairperson