HomeMy WebLinkAbout12.16.25 Police and Fire Retirement Board Minutes
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
MEETING MINUTES
Regular Meeting December 16, 2025
10th Floor Conference Room Tuesday, 8:30 a.m.
The meeting was called to order at 8:30 a.m.
Present: Trustee Garza, Moore, Wilcox, Wohlfert, Zolnai – 5.
Absent: Schor, Taylor, Wright
Others present: Karen E. Williams, Thomas Lindemann, Human Resources Department, Crystal
Thomas, Finance Department; City Attorney Joseph Abood, City Attorney’s Office; Attorney Aaron
Castle, VanOverbeke, Michaud and Timmony; Nathan Burk (via phone), Asset Consulting Group.
It was moved by Trustee Wilcox and supported by Trustee Moore to approve the Joint Employees’
Retirement System and the Police and Fire Retirement System Board Meeting minutes of November
17, 2025, with corrections.
Adopted by the following vote: 5 – 0.
There were no public comments for items on the agenda.
Secretary’s Report:
0 Sworn Police/ Fire Fighter , 0 reinstatements(s), refund(s), 0 transfer(s), 0 retired. Total: Active
membership 317. Death(s): Gene Bateman (IAFF) died 11/07/2025, age 58, Beneficiary to get
50%; Refunds made since last regular meeting amounted to $7,379.85. Reimbursements to the
System year-to-date amount to $48,874.66. Retirement allowances for the month of November 2025
are $3,524,092.90 Total retirement checks printed for P&F System 830, Total retirement checks
printed for both systems: 1736. Domestic relations orders received: 0. Domestic relations orders
pending: 0. Eligible Domestic Relations Order Certified: 0
It was moved by Trustee Moore and supported by Trustee Wilcox to approve the following request for
Regular Age and Service Retirement:
John Chamberlin (DEFERRED CCLP Non-Supervisor) 18 years and 4 months of
service, Age 55, effective 2/1/2026 Sworn Date 08/24/1998
Adopted by the following vote: 5 - 0.
Police and Fire Retirement System December 16, 2025
Meeting Minutes Tuesday, 8:30 a.m.
Page 2
Karen Williams reported that the Retirement Office sent a letter of request to Applicant #2025-F1118
for medical release and documents for the duty disability evaluation. The application is pending.
There were no requests for Non-Duty Disability Retirement.
Karen Williams reported that Trustee Schor, Trustee Taylor and Trustee Wright requested to be Garza
contacted the Retirement Office and requested to be excused from the Police and Fire Retirement
System Board December meeting.
It was moved by Trustee Moore and supported by Trustee Wilcox to excuse Trustee Taylor from the
Police and Fire Retirement System Board December meeting.
The Board noted that Trustee Schor and Trustee Wright were ex-officio members.
Adopted by the following vote: 5 – 0.
Ms. Williams provided the following invoice for approval: from Boomershine, $1,720.00; Northern Trust,
$13,838.48.
It was moved by Trustee Moore and supported by Trustee Wilcox to approve the Police and Fire
Retirement System Board invoices for payment for the month of December.
Adopted by the following vote: 5- 0
Mr. Greg Stump, Boomershine Consulting Group, presented the Police and Fire Actuarial Valuation for
the year ended 12/31/2024. Mr. Stump reviewed the following information: pension and health care
fund treatment, employer contribution recognition, deferred recognition of 2022 investment losses. Mr.
Stump discussed that the funding ration decline was due to higher-than-expected liabilities and
provided information regarding the normal cost and amortization changes.
Mr. Stump detailed the upcoming experience study and assumption review. He discussed the adoption
of updated mortality tables (Pub-2016) and long-term funding projections showing eventual path to full
funding.
It was moved by Trustee Wilcox and supported by Trustee Moore to accept the Police and Fire
Retirement actuarial valuation for the year ended 12/31/2024.
Adopted by the following vote: 5 -0.
Police and Fire Retirement System December 16, 2025
Meeting Minutes Tuesday, 8:30 a.m.
Page 3
Ms. Crystal Thomas suggested that the auditors make recommendations when there are future
discussions on the amortization method changes from a financial statement standpoint. Additionally,
she inquired about the protecting Michigan Pension legislation, form 5574. .
Attorney Castle indicated the Request for Proposal for pension administration software had been
issues. The responses were due January 9, 2026. Attorney Castle reported that there were significant
vendor interest and he had received approximately 50 submitted questions. Attorney Castle stated that
he would work with staff to prepare written responses to the questions
Mr. Nathan Burk reviewed the Monthly Investment Report for the month ending November 30, 2025.
It was moved by Trustee Wilcox and supported by Trustee Zolnai to adjourn the Police and Fire
Retirement System December meeting.
Adopted by the following vote: unanimous.
The meeting ended at 9:12 a.m.
Minutes approved on 1/20/2026
_______________________
Crystal Thomas, Secretary
Police and Fire Retirement System
_____________________________
Eric P. Wohlfert, Chairperson
Police and Fire Retirement System