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HomeMy WebLinkAbout2001 Employee's Retirement System Board MinutesOFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room loth Floor City Hall Lansing, MI 48933 January 18, 2001 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,Rubley, - 6. Absent: Trustees Hollister, Rossi Others: Gary Gustafson, 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 December 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: 558. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of December 2000: $806,221.50. Total number of ERS retirees 622. 1 death. Total retirement checks printed for all three systems: 1,188. 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. John Harrison, Communication Supervisor, Police Department, 23 years 3 months service credits, age 45, effective February 13, 2001 Michael G. Creed, Assistant Garage Supervisor, Public Service, 27 years 4 months service credits, age 50, effective January 6, 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 Employees' Retirement System Minutes from Regular Meeting January 18, 2001 page 2. It was moved by Trustee Adado and supported by Trustee Antekeier to join NCPERS. Adopted Unanimously Trustee Rhode mentioned that the Education Committee was going to participate with the other boards in planning future Retirement Seminars. Jack Jordan explained that he would give a written opinion about what bonds could be purchased into the bond fund. Jack Jordan brought a draft of the Ordinance change for the board to review and more changes are still needed. Mr. Rubley gave the investment report for December. The meet'ng ad'our ed at 9:57 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on 2 Z2 Cal Douglas Rubley, ChairpeA on 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 February 22, 2001 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: Trustees Bommarito, Hollister Others: Gary Gustafson, Finance; Jack Jordan Law Department: It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the minutes of the regular meeting of January 18, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 3 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 6 retired. Total active membership: 555. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of January 2000: $826,376.44. Total number of ERS retirees 629. 5 deaths. Total retirement checks printed for all three systems: 1,190. 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. William E. Maynard, Facility Maintenance Worker, Public Service, 26 years service credits, age 55, effective April 2, 2001. Richard Bjorkman, Public Service Waste Water, 25 years 4 months service credits, age 55, effective March 5, 2001. Kathleen M. Fields, Public Service, 16 years service credits, age 49, effective March 17, 2001. From Deferred status. Earl C. Austin, Zoo Keeper, Parks, 25 years service credits, age 52, effective March 8, 2001. It was moved by Trustee Antekeier and supported by Trustee Adado to approve the above applications for Regular Age & Service Retirements Employees' Retirement System Minutes from Regular Meeting February 22, 2001 page 2. Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Brodie to excuse Trustees Bommarito and Hollister. Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee Antekeier to send any member to NCPERS that wants to go and to pay for it from securities lending. Adopted Unanimously Dan Logan, Public Service, Deferred his retirement until he reaches 58 years of age. Doug Rubley handed out a benefit pamphlet for the board members to review and critique. Mr. Rubley also handed out a Summary of Annual Report from our Actuary to be distributed to members of each retirement system. Jack Jordan provided a draft of the Ordinance Change which Doug Rubley reviewed for the board. It was moved by Trustee Brodie and supported by Trustee Rhode to approve the Ordinance per contract changes. Adopted Unanimously Jack Jordan handed out a written opinion about which bonds could be purchased into the bond funds. It was moved by Trustee Adado and supported by Trustee Brodie to place this opinion on file. Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Adado to authorize the investment committee to interview any international fund managers they deemed appropriate. Adopted Unanimously Mr. Rubley gave the investment report for January. Employees' Retirement System Minutes from Regular Meeting February 22, 2001 page 3. Minutes approved on 4t� Douglas Rubley, Chairpe son The meet' ad'our ed at 10:36 a.m. Robert W. Swanson, Secretary Employees' Retirement System OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES, - CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting March 22, 2001 Council Conference Room Thursday, 8:30 a.m. 10th Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:35 a.m. Present:Trustees Adado, Antekeier,Bommarito, Brodie, Hollister,Rhode, Rossi,Rubley, - 8. Absent: None Others: Gary Gustafson, Finance; Brian Bevez, Law Department: Paul Luzynski, Fire Department It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the minutes of the regular meeting of February 22, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 3 new members(s), 0 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 February 2001: $821,577.70. Total number of ERS retirees 627. 2 deaths. Total retirement checks printed for all systems: 1,190. 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 two Age & Service Retirements together. Nancy Jenkins, Mgmt. Services, 22 years 3 months service credits, age 44, effective April 20, 2001. David Garcia, Public Service 0&M, 27 years 1 month service credit, age 50, effective May 10, 2001. It was moved by Trustee Antekeier and supported by Trustee Adado to approve the above applications for Regular Age & Service Retirements Adopted Unanimously Mr. Rubley turned the meeting at this time over to Mr. Brodie, Vice Chair to handle the next retirement. Employees' Retirement System Minutes from Regular Meeting March 22, 2001 page 2. Jacqueline Porter, Finance Department, 24 years 8 months service credits, age 46, effective April 20, 2001. It was moved by Trustee Rubley and supported by Trustee Brodie to approve the above request for Regular Age & Service Retirement for Jacqueline Porter. Adopted Unanimously The Disability Committee stated that Mr. James Kinnaird had been referred to Dr. Chiodo for a Duty Disability Evaluation. The Education Committee discussed the upcoming Retirement Seminar on Tuesday, September 11, 2001 to be held at the Lansing Center. Mr. Rubley stated that the RFQ's were in for the International Search and that interviews would be held on April 16 and 17. Mr. Rubley gave a brief discussion on Commission Recapture. Mr. Rubley gave the investment report for February. The meeting adjourne at 9:16 a.m. 9& Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairperson iv-) / "L Ll 41t5-` OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES... CITY OF LANSING EMPLOYEES'RETIREMENT SYSTEM Regular Meeting April 19, 2001 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 8:35 a.m. Present:Trustees Antekeier,Bommarito, Brodie, Rhode, Rossi,Rubley, - 60 Absent: Trustees Adado and Hollister Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan, Law Department; Amy Fraser, Personnel; David Hoffman, Daina Scarff, Gabriel, Roeder, Smith & Company It was moved by Trustee Rossi and supported by Trustee Brodie to approve the minutes of the regular meeting of March 22, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 2 new members(s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 3 retired. Total active membership: 556, Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of March 2001: $826,519.51. Total number of ERS retirees 627. 2 deaths. Total retirement checks printed for all systems: 1,191. 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 three Age & Service Retirements together. Johnnie M. Gargard, District Court, 21 years service credits, age 44, effective May 14, 2001. Reuben E. Waggoner, Public Service 0&M, 29 years 9 months service credits, age 53, effective April 30, 2001. Patrick E. Lindemann, City Council, 12 years service credits, age. 53, effective April 1, 2001. (From Deferred) It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the above applications for Regular Age & Service Reitrementso Employees' Retirement System Minutes from Regular Meeting .April. 19, 2001 page 2. Adopted Unanimously It was moved by Trustee Brodie and supported by Trustee Antekeier to table until next month Mr. Kinnaird's Duty Disability Request. Adopted Unanimously It was moved by Trustee Antekeier and supported by Trustee Brodie to excuse Trustees Adado and Hollister. Adopted Unanimously Mr. David Hoffman from Gabriel, Roeder, Smith & Company presented an Experience Study to the board. Mr. Jack Jordan's legal opinion #103 was received by the board and placed on file regarding High Yield Bonds. It was moved by Trustee Brodie and supported by Trustee Antekeier to hire International Managers; Putnam (growth) and Invesco (value). Adopted Unanimously The Investment Report was not given this month. The meet'ng adjourned at 10:25 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 May 17, 2001. Council Conference Room Thursday,-8:3b a.m. 10th Floor City Mall Lansing, MI 48933 The Board met in regular session and was called to order at 8.40 a.m. Present: Trustees Adado, Ante ke ier, Bommarit o, Brodie, Rhode, Rossi,Rubley, - 7. Absent: Trustee Hollister Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan, Law Department; Amy Fraser, Personnel; Chuck Remenar, Finance. It was moved by Trustee Antekeier and supported by Trustee Rossi to approve the minutes of the regular meeting of April 19, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 2 new members (s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 4 retired. Total active membership: 554. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of April 2001: $830,873.18. Total number of ERS retirees 631. 2 deaths. Total retirement checks printed for all systems: 1,197. 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. John R. Foltz, Public Service, 30 years 4 months service credits, age 50, effective May 29, 2001. Charles S. Remenar, Deputy Controller, Finance Department, 24 years service credits, age 50, effective June 15, 2001. Elaine Stocking, District Court, 28 years 4 months service credits, age 46, effective June 4, 2001. Bernadette L. Larner, 911 Operator, 23 years 1 month service credits, age 42, effective June 13, 2001. Employees® Retirement System Minutes from Regular Meeting May 17, 2001 page 2. Joy A. Behmann, 911 Operator, 23 years 11 months service credits, age 46, effective June 13, 2001. David C. Bowen, 911 Operator, 20 years 1 month service credits, age 47, effective June 13, 2001. It was moved by Trustee Brodie 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 Rossi to excuse Trustee Hollister. Adopted Unanimously. Trustee Rubley discussed the restructuring of Loomis Sayles & Company for the boards information. It was moved by Trustee Rhode and supported by Trustee Antekeier to accept the fee structure from Gabriel, Roeder, Smith and Company for 2001. Adopted Unanimously. Trustee Rubley stated that the Council has now passed the Ordinance approving the 2.75 factor for retirement. It was moved by Trustee Adado and supported by Trustee Brodie to go into executive closed session at 9:10 a.m. to review the medical records of James Kinnaird, Personnel Department. Dr. Chiodo was present for consultation and to explain how he makes a determination as to a Duty Disability. Yeas: Adado, Antekeier, Bommarito, Brodie, Rhode, Rossi, Rubley Nays: None It was moved by Trustee Rubley and supported by Trustee Adado to come out of executive session at 9:55 a.m. Yeas: Adado, Antekeier, Bommarito, Brodie, Rhode, Rossi, Rubley Nays: None It was moved by Trustee Adado and supported by Trustee Rossi to take James Kinnaird Request for Duty Disability off from Pending. Yeas: Adado, Antekeier, Bommarito, Rhode, Rossi, Rubley Nays: Brodie It was moved by Trustee Adado and supported by Trustee Rhode to approve James Kinnaird Request for a Duty Disability. Employees' Retirement System Minutes from Regular Meeting May 17, 2001 page 3. Yeas: Adado, Antekeier, Bommarito, Rhode, Rossi, Rubley Nays: Brodie Trustee Rubley handed out copies of the Investment Report. The meeting adjourn , at 10:40 a.m. Z Robert W. Swanson, Secretary Employees' Retirement System Mu s approved on 11VNJ �J D uglas Rubley, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF (TRUSTEES CITY OF LANSING V EMPLOYEES' RETIREMENT SYSTEM Regular Meeting Council Conference Room 10th Floor City Hall Lansing, MI 48933 May 18, 2000 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:45 a.m. Present: Trustees Antekeier,Bommarito,Brodie,Rhode,Rubley - 5. Absent: Adado,Hollister, Rossi Others: Gary E. Gustafson, Finance; Brian Bevez Law Department: Shawn Crisp, Public Service: Margaret Herp, and three other Retirees. It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the minutes of the regular meeting of April 20, 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 April 2000: $786,062.49. 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: 1. Eligible domestic relations orders certified: 0. It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the request for Regular Age and Service Retirement for James E. Dolega, Parks & Recreation, 25 years service credits, age 53, effective May 8, 2000, Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Brodie to allow the sub -committee to authorize sending disability applicants to Dr. Chiodo for evaluation. Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Brodie to refer the Duty Disability Request of Jeff Nielsen to the sub -committee and to the medical director. Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting May 18; 2000 page 2. Motion was made by Trustee Brodie and supported by Trustee Antekeier to excuse Trustees Adado, Hollister, and Rossi. Adopted Unanimously Shawn Crisp spoke to the board about her service credits. It was moved by Trustee Rhode and refer to the law department Shawn received from her. Adopted Unanimously supported by Trustee Antekeier to Crisp's request once a letter is The board referred the Travel Guide Lines item to the sub committee for a written policy. The Investment Report was not given. The meet'ng ad'our ed at 10:15 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Z 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 June 21, 2001 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, Hollister, Rhode, - 6. Absent: Trustees Rossi, Rubley Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan, Law Department; Margaret Herp, Lydia Heiden, Retirees. It was moved by Trustee Adado and supported by Trustee Antekeier to approve the minutes of the regular meeting of May 17, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s), 0 reinstatement(s), 0 refund (s), 0 transfer (s), and 3 retired. Total active membership: 551. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of May 2001: $840,739.87. Total number of ERS retirees 637. 1 death. Total retirement checks printed for all systems: 1,205. 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. Sandra Ames, District Court, 23 years 6 months service credits, age 52, effective June 18, 2001. Mary A. Melius, Public Service 0&M, 18 years 8 months service credits, age 46, effective July 6, 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 Antekeier and supported by Trustee Adado to excuse Trustees Rossi and Rubley. Adopted Unanimously. Employees' Retirement System Minutes from Regular Meeting June 21, 2001 page 2. It was moved by Trustee Rhode and supported by Trustee Hollister to approve the Commission Recapture Program, with funds to be placed in the Member Reserve. Yeas: Antekeier, Bommarito, Brodie, Hollister, Rhode Nays Adado Trustee Brodie handed out copies of the Investment Report. The meeting adjourned at 9:04 a.m. \J l F- Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on 7 ` Q� Douglas Rubley, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES - CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting July 19, 2001 Council Conference Room Thursday, 8:30 a.m. 10th Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:36 a.m. Present: Trustees Adado,Antekeier,Bommarito,Brodie,Hollister,Rhode, Rubley - 7. Absent: Trustee Rossi Others: Gary Gustafson, Bob Swanson Finance; Brian Bevez, Law Department It was moved by Trustee Brodie and supported by Trustee Antekeier to approve the minutes of the regular meeting of June 21, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new members (s), 0 reinstatement(s), 0 refund(s), 0 transfer(s), and 6 retired. Total active membership: 545. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of Jun 2001: $851,236.76. Total number of ERS retirees 639. 4 death. Total retirement checks printed for all systems: 1,204. 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. Louise H. Christian, Planning, 18 years service credits, age 69, effective June 25, 2001. Kristina W. Barncard, 911 Operator, 15 years 10 months service credits, age 49, effective July 13, 2001. Delenis Nelson, Public Service 0&M, 25 years service credits, age 53, effective July 1, 2001. It was moved by Trustee Brodie and supported by Trustee Hollister to approve the above applications for Regular Age & Service Retirements. Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting July 19, 2001 page 2. It was moved by Trustee Adado and supported by Trustee Brodie to excuse Trustee Rossi, Adopted Unanimously It was moved by Trustee Adado and supported by Trustee Hollister to send any board member to the Employees Benefits Conference in San Francisco that wants to attend. Adopted Unanimously It was announced that Retiree Ed Piloske would be the new board member representing retirees. The Drop Program was discussed by the board for informational purposes only. It was moved by Trustee Adado and supported by Trustee Antekeier to pay up to one half for a new computer for the retirement office with the cost to not exceed $2,000.00. The payment is to come from securities lending, It was approved Unanimously It was moved by Trustee Adado and supported by Trustee Antekeier to do a Due Diligence interview with new international managers (Investco & Putnam). It was approved Unanimously Mr. Rubley gave the investment report for June. The meeti ^adjourne.d, at 9:38 a.m. 1 Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairper n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting September 20, 2001 Council Conference Room Thursday, 8:30 a.m. 10th Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Adado,Antekeier,Bommarito,Brodie,Hollister, Piloske, Rhode, Rossi, Rubley - 9. Absent: None Others: Gary Gustafson, Bob Swanson Finance; Jack Jordan, Law Department: It was moved by Trustee Adado and supported by Trustee Rossi to approve the minutes of the regular meeting of August 23, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members(s), 0 reinstatement(s), 0 ref und!s), 0 transfer (s), and 0 retired. Total active membership: 542. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of August 2001: $861,077.75. Total number of ERS retirees 640. 1 deaths. Total retirement checks printed for all systems: 1,203. 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. Meriane Schuiling, Finance, 22 years 10 months service credits, age 42, effective September 5, 2001. Jeffrey A. Hildabridle, Public Service 0&M, 23 years 2 months service credits, age 57, effective August 27, 2001. Glenn D. Sherman, Detention Officer, Police, 23 years service credits, age 52, effective September 10, 2001. Larry Ingalls, Mechanic, Public Service, 15 years 1 month service credits, age 61, effective October 12, 2001. Employees' Retirement System Minutes from Regular Meeting September 20, 2001 page 2. It was moved by Trustee Adado and supported by Trustee Rossi to approve the above applications for Regular Age & Service Retirements. Adopted Unanimously Trustee Rhode gave a synopsis of the Retirement Seminar. Mr. Rubley gave the investment report for August. The meeting adj rued at 9:41 a.m. 4& all, Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairpers n 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 October 18, 2001 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,Brodie, Piloske, Rhode ,Rossi, Rubley - 7. Absent: Bommarito, Hollister Others: Gary Gustafson, Amy Magistro, Finance; Brian Bevez, Law Department; Margaret Herp, retiree: It was moved by Trustee Adado and supported by Trustee Antekeier to approve the minutes of the regular meeting of September 20, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members (s), 0 reinstatement (s), 0 refund(s), 0 transfer(s), and 5 retired. Total active membership: 538. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of September 2001: $872,650.46. Total number of ERS retirees 643. 3 deaths. Total retirement checks printed for all systems: 1,204. 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. Susan M. Brownlee, Finance, 16 years service credits, age 49, effective October 15, 2001. Iris N. Graham, Planning and Development, 14 years service credits, age 61, effective October 15, 2001. Nona M. Mix, C & C S, 11 years 9 months service credits, age 65, effective October 15, 2001. It was moved by Trustee Adado and supported by Trustee Antekeier to approve the above applications for Regular Age & Service Retirement. Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting October 18, 2001 page 2. Trustees Brodie and Piloske discussed some of the topics they heard at the Mapers conference. Trustee Rhode mentioned the upcoming brown bag presentations. Trustee Rubley informed the board that the responses to the Real Estate RFP were in and we have 19 vendors with 21 products. He also discussed EDRO'S and DRO'S. It was mentioned by Mr. Rubley that the International Managers have both been funded 50% of their funds. An Ad hoc committee was formed for an operational audit with the following trustees: Jill Rhode, (Chair) Ed Piloske, and one member to be determined from the P&F board. Mr. Rubley gave the investment report for September. The mee a our d at 9:35 a.m. Robert W. Swanson, Secretary Employees' Retirement System Minutes approved on Douglas Rubley, Chairpers n 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 November 15, 2001 Thursday, 8:30 a.m. The Board met in regular session and was called to order at 8:50 a.m. Present: Trustees Antekeier, Piloske, Rhode ,Rossi, Rubley -5. Absent: Adado, Bommarito,Brodie, Hollister -4. Others: Robin Noe, Finance It was moved by Trustee Antekeier and supported by Trustee Rossi to approve the minutes of the regular meeting of October 18, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new members (s), 0 reinstatement (s), 0 refund(s), 0 transfer(s), and 4 retired. Total active membership: 535. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of October 2001: $873,268.40. Total number of ERS retirees 646. 1 death. Total retirement checks printed for all systems: 1,206. 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 Piloske to approve the request for Regular Age and Service Retirement for Leon Hilton, Public Service, 33 years 11 months service credits, age 53, effective December 1, 2001. Adopted Unanimously It was moved by Trustee Rossi and supported by Trustee Antekeier to excuse Trustees Adado, Bommarito, Brodie, and Hollister. Adopted Unanimously It was moved by Trustee Antekeier and supported by Trustee Rossi to sign the new contract with Asset Consulting. Adopted Unanimously Trustee Rubley gave an explanation of how the various Real Estate Investment Firms were analyzed and how the committee decided on the specific four firms that were invited to make a presentation. Employees' Retirement System Minutes from Regular Meeting November 15, 2001 page 2. Trustee Rubley spoke about the International Manager Update Mr. Rubley gave the investment report for October. The mee Ing a our ed at 9:42 a.m. Robert W. Swanson, Secretary Minutes approved on z��a Employees' Retirement System a Douglas Rubley, Chairper n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING EMPLOYEES' RETIREMENT SYSTEM Regular Meeting December 20, 2001 Finance Conference Room Thursday, 8:30 a.m. 8th Floor City Hall Lansing, MI 48933 The Board met in regular session and was called to order at 8:40 a.m. Present: Trustees Antekeier,Brodie, Piloske, Rhode ,Rossi, Rubley Absent: Adado, Bommarito, Hollister -3. Others: Gary Gustafson, Amy Magistro, Finance: Jack Jordan Law Department; Brad Armstrong (Actuary) It was moved by Trustee Rossi and supported by Trustee Rhode to approve the minutes of the regular meeting of November 15, 2001. 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: 535. Refunds made since the last regular meeting: $0. Retirement allowances paid for the month of November 2001: $881,628.58. Total number of ERS retirees 645. 0 deaths. Total retirement checks printed for all systems: 1,204. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Brodie and supported by Trustee Piloske to approve the request for Regular Age and Service Retirement for Charles R. Bauer, Administrator, Police Dispatch, 14 years 6 months service credits, age 64, effective January 15, 2002. Adopted Unanimously It was moved by Trustee Antekeier and supported by Trustee Rossi to excuse Trustees Adado, Bommarito, and Hollister. Adopted Unanimously Jack Jordan gave an opinion on the Chuck Remenar letter hear after referred to as the "Remenar Opinion" It was moved by Trustee Antekeier and seconded by Trustee Rossi to put the "Remenar Opinion"on the Agenda for January for action. Adopted Unanimously Employees' Retirement System Minutes from Regular Meeting December 20, 2001 page 2. It was moved by Trustee Brodie and seconded by Trustee Rossi to retain Trustee Rubley as Chair of the Employees Retirement Committee for 2002. Adopted Unanimously It was moved by Trustee Rhode and seconded by Trustee Antekeier to retain Trustee Brodie as Vice -Chair of the Employees Retirement Committee for 2002. Adopted Unanimously It was moved by Trustee Brodie and seconded by Trustee Antekeier to approve the 2002 meeting dates as scheduled. Adopted Unanimously It was moved by Trustee Rhode and seconded by Trustee Brodie to implement the new survivorship tables effective January 1, 2002. Adopted Unanimously It was moved by Trustee Rhode and seconded by Trustee Antekeier to have the retirement analyst make a spreadsheet showing the recalculations of retirees who retired within the past 2 or 3 years. This request is to be put under pending items on the Agenda. Adopted Unanimously Trustee Rubley gave a synapsis of the various real estate firms that were interviewed. It was moved by Trustee Brodie and seconded by Trustee Antekeier to hire UBS Brinson and Clarion Partners as the Real Estate Managers and the allocation to be determined at a later date. Adopted Unanimously Mr. Rubley handed out the investment report for November. The Minutes approved on Douglas Rubley, Chairperson meet 'ng ad' ourn d at 9:40 a.m. Robert W. Swanson, Secretary Employees' Retirement System