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HomeMy WebLinkAbout1994 mins Police and Fire Retirement System FINAL DEC 13 OFFICIAL PROCEEDINGS OF !PN,,BO i' O,FE ZUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting November 8, 1994 8th Floor Conference Room Tuesday, 8 : 35 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Jack Cushman at 8 : 37 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Hollister, Kus, Lankheet - 6 . Absent: Trustees Kehler, Luzynski - 2. Others: Douglas Rubley, Acting Secretary; Steve Dougan, Budget Division; Teri Cook, Finance Operations; Gerald Graves. It was moved by Trustee Barkyoumb, supported by Trustee Kus, that the minutes of the regular meeting of October 18 , 1994 and the special meeting of October 20 , 1994 be approved as amended. Adopted by the following vote: Unanimously. The Acting Secretary reported 3 new member(s) (Alan D. Berish, Catherine A. Farrell , Michael Yankowski, Police Dept. ) 0 reinstatements, 0 refund(s) and 8 retired. Total Membership: 564. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of October, 1994, amounted to $744,176 . 39. Total retirement checks printed for the P&F System: 443 . Total retirement checks printed for all three systems: 1, 034. Domestic relations orders received: 0 . Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0 . Mr. Graves was present and indicated to the Board that he was upset for the delay in the Attorney' s Office regarding the ordinance that would include the five retirees and three widows that were missed when the last increase went through. Mr. Rubley indicated that when he last talked with Mr. Smiertka he indicated that the attorney assigned to this was about 90% complete and it would be forwarded to the appropriate parties for language review. Mr. Graves asked that he be notified when the ordinance goes to Council. Mr. Rubley also stated that once he received a draft of the ordinance he would forward a copy to Mr. Graves. Mr. Rubley stated that he has a verbal agreement with the Law Department that when a union agreement has a change that affects the ordinance that the night when the agreement is to be voted on that a public hearing will be set for the same evening. Police & Fire Retirement System Regular Meeting of November 8 , 1994 Page 2 It was moved by Trustee Kus , supported by Trustee Barkyoumb, that -the application for regular age and service retirement for James R. Cochran, Police Department, 26 years 4 months service credits, age 54 , effective November 12 , 1994 be approved. (Retiring with 2 . 750 factor. Per union contract, will go to 2 . 95o. ) Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kus, Lankheet-6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Hollister that the application for conversion from duty disability to regular age and service retirement for R. Steven Willard, Fire Department, 29 years 4 months service credits, age 55, effective November 1, 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kus, Lankheet-6 . Nays: None. It was moved by Trustee Benavides, supported by Trustee Hollister that the application for conversion from duty disability to regular age and service retirement for Gerald A. Boda, Police Department, 28 years service credits , age 54 , effective October 7 , 1994 be approved. (Retiring with 2 . 75% factor. Per union contract, will go to 2 . 95%. ) Adopted by the following roll call : Yeas : Barkyoumb, Benavides, Cushman, Hollister, Kus, Lankheet-6 . Nays: None. Mr. Rubley informed the Board that Trustee Luzynski' s term expires December 31 , 1994. Mr. Rubley indicated that a memo had been distributed to members of the Police & Fire Retirement System regarding the election. Trustee Cushman stated that he will bring in two names as election inspectors for the primary election. Mr. Rubley informed the Board that they had received copies of the three proposals received on actuarial services. Mr. Rubley recommended that a panel be setup to meet and open the fee proposals and vote on which one they felt was the best firm. Discussion was held on whether to interview the three firms . It was moved by Trustee Lankheet that the board base the decision on the three RFQPs, supported by Trustee Kus . Adopted by the following vote: Unanimously. Trustee Cushman asked that any trustee interested on being on the committee to let him know. Police & Fire Retirement System Regular Meeting of November 8 , 1994 Page 3 Discussion was held regarding the duty disability retirement of Reynaldo Gonzalez. Mr. Gonzalez was sent for an examination for Worker ' s Compensation purposes. Per the recommendation of Dr. Wessinger, Worker ' s Compensation, Mr. Gonzalez could return to work. It was moved by Trustee Benavides, supported by Trustee Hollister that this letter from Dr. Wessinger be sent to our Medical Director and that Mr. Gonzalez be sent to our Medical Director for an examination and that the Medical Director report back to the Board. Adopted by the following vote: Unanimously. Mr. Rubley stated that a communication will be sent to Mr. Gonzalez explaining the Boards action. Mr. Rubley informed the Board that he received a packet of information and a written request from AFL-CIO Housing Investment Trust asking for the names and home addresses of the Board. It was the Boards decision to not release home addresses and that the packet of information be forwarded to The Hannah Group. Trustee Hollister left the meeting at 9 : 20 a.m. Other Business: Mr. Rubley stated that he had received the results of a survey sent out by the Personnel Department of Kansas. City that was completed by Steve Dougan. Mr. Rubley stated that he would provide a copy for all Board members. Discussion was held on the mortality tables used by the actuary. It was moved by Trustee Lankheet, supported by Trustee Kus that the mortality table used by the actuary be updated once an actuary has been selected. Adopted by the following vote: Unanimously. Trustee Kus stated that the retirement seminar went very well. Input was very favorable. The plan is to setup another seminar in the Spring. Discussion was held regarding hiring a private investigation firm to follow-up on information received on employees on duty disability. The Board asked Mr. Rubley to check with Corporate Services to see if they could provide the service the Board is looking for. Police & Fire Retirement System Regular Meeting of November 8 , 1994 Page 4 It was moved by Trustee Benavides, supported by Trustee Kus to excuse Trustees Kehler and Luzynski from the meeting. Adopted by the following vote: Unanimously. The meeting adjourned at 10 : 00 a.m. c Douglas L. Rubley, Acting Secretary Police & Fire Retirement System SPECIAL MEETING OFFICIAL PROCEEDINGS OF THE BOARD OF TRV!;'TEES v j L' , CITY OF LANSING �' i i �� 3 POLICE & FIRE RETIREMENT SYSTEM � S�1% CITY CLERK Special Meeting October 20, 1994 8th Floor Conference Room Thursday, 10 : 21 a.m. City Hall Lansing, MI The Board met in special session and was called to order by Chairperson Cushman at 10 : 21 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Kehler, Lankheet, Luzynski - 6 . Absent: Trustees Hollister, Kus - 2 . Others : Douglas Rubley, Acting Secretary, Steve Dougan, Budget Division; Teri Cook, Finance Operations; Alan Sonnanstine, Gabriel, Roeder, Smith & Company. Mr. Alan Sonnanstine, from Gabriel, Roeder, Smith & Company, was present and gave an overview of the actuarial report of December 31 , 1993 . Trustee Benavides arrived at the meeting at 10 : 35 a.m. Mr. Sonnanstine indicated that 1993 was a great year. This is primarily the result of the higher-than-projected rate of investment return for the year and the lower-than-projected increases to active members. A brief discussion was held on the setup of the trust for the prefunding of health care. Mr. Sonnanstine concluded that the Retirement System is in very good actuarial condition, contingent upon continued receipt of recommended contributions . The meeting adjourned at 11 : 25 a.m. Douglas Rubley, Acting Secretary Police and Fire Retirement System r,4._t.. �...1 t1� r•s_., OFFICIAL PROCEEDINGS OF THE BOARD CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting October 18, 1994 8th Floor Conference Room Tuesday, 8 : 35 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Jack Cushman at 8 : 35 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 8 . Others: Douglas Rubley, Acting Secretary; Steve Dougan, Budget Division; Teri Cook, Finance Operations; James Smiertka, Law Department; Gerald Graves, George Scarlett and Larry Murphy. It was moved by Trustee Kus, supported by Trustee Luzynski, that the minutes of the regular meeting of September 22 , 1994 be approved as amended. Adopted by the following vote: Unanimously. The Acting Secretary reported 0 new members , 0 reinstatements , 0 refunds and 9 retired. Total Membership: 561. Refunds made since the last regular meeting amounted to: $0 . Retirement allowances paid for the month of September, 1994, amounted to $741 , 176 . 05 . Total retirement checks printed for the P&F System: 434 . Total retirement checks printed for all three systems: 1, 035 . Domestic relations orders received: 0. Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0. It was moved by Trustee Barkyoumb, supported by Trustee Kehler, that the application for regular age and service retirement for Mary J. Aveiro, Police Department, 25 years service credits, age 49, effective November 4, 1994 be approved. Adopted by the following roll call: Yeas: 7 . Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for regular age and service retirement for Thomas E. Bolan, Police Department, 29 years service credits, age 54, effective November 12, 1994 be approved. Adopted by the following roll call: Yeas: 7 . Nays: None. Police & Fire Retirement System Regular Meeting of October 18 , 1994 Page 2 Mr. Rubley informed the board that the purchasing section is working on an RFQP for Medical Director with the three member committee (Trustees Cushman, Kus and Luzynski) . Trustee Cushman asked that a draft of the RFQP be mailed to the Board so the Board can review before the November 8, 1994 meeting. Mr. Rubley informed the board that Trustee Luyznski ' s term expires on December 31, 1994 . Mr. Rubley informed the Board that information regarding the election will be going out to the Fire Department. Discussion was held regarding a set schedule to have the investment managers in to make their presentations . It was the decision of the Board to have the investment managers in on a quarterly basis along with the consultant. Mr. Rubley stated that he will ask The Hannah Group to provide a two page summary on the money manager for the board members review prior to the presentation by the investment managers. Other Business : Mr. Rubley informed the board that the actuary has been notified and is working on the Section 414H Plan. Mr. Rubley stated that he has not received an update from the actuary. Trustee Hollister arrived at the meeting at 9 : 00 a.m. Discussion was held regarding the ordinance in regard to the tie- bar for retirees . Mr. Smiertka indicated that the collective bargained retirement benefits supersede the ordinance. The tie-bar does not have the same effect. The tie-bar is a contract obligation. The ordinance should be amended for those individuals not covered by a union contract. Mr. Smiertka indicated that his department will prepare the necessary amendments. Trustee Hollister left the meeting at 9 : 45 a.m. The meeting adjourned at 9: 50 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System t OFFICIAL PROCEEDINGS OF THE BOARD OFy:ITRR' ` I �EiZ� CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting September 22, 1994 9th Floor Conference Room Tuesday, 10 : 15 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Jack Cushman at 10 : 15 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Kehler, Kus, Lankheet, Luzynski - 7 . Absent: Trustees Hollister - 1. Others: Douglas Rubley, Acting Secretary; Steve Dougan, Budget Division; Teri Cook, Finance Operations and Bob Swanson, Finance Director Nominee. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski, that the minutes of the regular meeting of August 16, 1994 be approved as amended. Adopted by the following vote: Unanimously. The Acting Secretary reported 3 new members (Dean A. Curtis, Charmane Hatcher, Gasper Mendez, Police Dept. ) , 0 reinstatements, 0 refunds and 3 retired. Total Membership: 561 . Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of August, 1994, amounted to $715, 596 . 71. Total retirement checks printed for the P&F System: 434 . Total retirement checks printed for all three systems: 1 , 028 . Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0 . It was moved by Trustee Barkyoumb, supported by Trustee Lankheet, that the application for regular age and service retirement for the following be approved. Adopted by the following vote: Unanimously. Phyllis Baker, Police Department, 25 years service credits, age 52, effective September 3 , 1994. Dean P. Crispin, Police department, 25 years 2 months service credits, age 48, effective September 17 , 1994. Lynn E. Ried, Police Department, 25 years service credits, age 47 , effective September 10, 1994 . Police & Fire Retirement System Regular Meeting of September 22, 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Lankheet that the conversion from duty disability to regular age and service retirement be approved. Adopted by the following vote: Unanimously. George F. Banker III , Police Department, 25 years 2 months service credits, age 50, effective August 26 , 1994 . Stephen Fuller, Police Department, 25 years service credits, age 50, effective September 9, 1994. William Tomlinson, Police Department, 27 years 11 months service credits, age 53, effective September 1, 1994 . It was moved by Trustee Kus, supported by Trustee Luzynski to recess the board meeting at 10 : 30 a.m. to hold the joint board meeting. The Board reconvened at 11: 30 a.m. Discussion was held on the duty death widow' s benefits for Margaret Thornton, widow of officer Mac Donnelly. Ms. Thornton was overpaid from 1982 to 1993 as a result of a failure to test and adjust benefits as required to remain consistent with the workers compensation offset. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to send a letter to Ms. Thorton explaining to her that an error was made and that it is the Boards fiduciary responsibility to collect the overpayment. The Board will go back six years an accumulated amount of $4, 121 . 22 . Ms. Thorton should be given options as to the means of repayment. Either by a lump- sum or over her life expectancy. Adopted by the following vote: Unanimously. Trustee Benavides left the meeting at 11 : 47 a.m. Trustee Kus passed out the revised guidelines for hiring a medical director. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to adopt these guidelines in their entirety. Adopted by the following vote: Unanimously. It was moved by Trustee Kus, supported by Trustee Barkyoumb to put the selection of a medical director on the agenda for the next meeting. Adopted by the following vote: Unanimously. Police & Fire Retirement System Regular Meeting of September 22, 1994 Page 3 Mr. Rubley wanted the Board to be aware that according to legal opinion 9401 any collective bargained agreements supersede the ordinance. Non-collective bargained covered employees may not. This may be a concern for this board in that some retirees who are tie-barred may not be entitled to any increase that is not in the ordinance, although no final determination has been made. Mr. Rubley informed the Board that the Employees ' Retirement System Board has a committee to develop a position paper to be sent to Council. Trustee Lankheet left the meeting at 12 : 23 p.m. It was moved by Trustee Barkyoumb, supported by Trustee Kehler that Mr. Rubley sent a position memo from the Police and Fire Retirement Board stating that the Board acted in good faith regarding retirees, who were tie-barred, that the Board has approved for retirement and that the Council should adopt an ordinance that covers non-collective bargained employees. Adopted by the following vote: Unanimously. Trustee Kus informed the Board that the Retirement Seminar is scheduled for October 25, 1994 from 6 : 00 to 10 : 00 p.m. at the network center. Flyers for the seminar will be going out the week of September 26, 1994 . It was moved by Trustee Kehler, supported by Trustee Barkyoumb to excuse Trustee Hollister from the meeting. Adopted by the following vote: Unanimously. The request for deferred retirement for Timothy Poxson was received by the Board and placed on file. The meeting adjourned at 12 : 45 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System of Lam. FINANCE DEPARTMENT V �UG 831 City Hall,124 W.Michigan Ave. < Lansing,Michigan 48933 t * (517)483-4500 ;- C)— 'I ti— ? t p r, I : 49 l�C V D ��Cu�Gpt� September 15, 1994 PUBLIC MEETING NOTICE DATE, LOCATION AND TIME CHANGE CITY OF LANSING POLICE & FIRE RETIREMF'NT SYSTEM The Police & Fire Retirement System Board meeting scheduled for September 20 , 1994 at 8 : 30 a.m. has been moved to September 22, 1994 at 9 :30 a.m. in the 9th Floor Conference Room. "Equal Opportunity Employer" 09-23-9ZIA 9 : ;1 1\CVU OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting August 16, 1994 8th Floor Conference Room Tuesday, 8 : 40 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Jack Cushman at 8: 40 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Kus, Luzynski -5 . Absent: Trustees Kehler, Hollister, Lankheet - 3 . Others : Douglas Rubley, Acting Secretary; Steve Dougan, Budget Division; Teri Cook, Finance Operations. It was moved by Trustee Barkyoumb, supported by Trustee Kus, that the minutes of the regular meeting of July 19 , 1994 , be approved. Adopted by the following vote: Unanimously. The Interim Secretary reported 2 new members (Melissa Fletcher, Leith Curtis, Police Dept. ) , 0 reinstatements, 2 refunds and 5 retired. Total Membership: 558 . Refunds made since the last regular meeting amounted to: $3, 279. 04 . Retirement allowances paid for the month of July, 1994, amounted to $703 , 567 . 40 . Total retirement checks printed for the P&F System: 433 . Total retirement checks printed for all three systems: 1, 029. Domestic relations orders received: 0 . Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski, that the application for regular age and service retirement for Edward L. Bedell, Police Department, 25 years service credits, age 47, effective September 3 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays : None. It was moved by Trustee Benavides, supported by Trustee Barkyoumb, that the application for regular age and service retirement for Ronald L. Dishaw, Police Department, 25 years service credits, age 46 , effective September 3 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays : None. Police & Fire Retirement System Regular Meeting of August 16 , 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Kus, that the application for regular age and service retirement for David L. Foster, Police Department, 25 years service credits, age 51, effective September 4, 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays: None. It was moved by Trustee Luzynski, supported by Trustee Barkyoumb, that the application for regular age and service retirement for Terry L. Hinman, Fire Department, 28 years, 10 months service credits, age 51, effective August 7, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5. Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for regular age and service retirement for Craig M. Klemens, Police Department, 25 years 3 months service credits, age 46 , effective July 23 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Benavides that the application for regular age and service retirement for Timothy D. Metts, Police Department, 25 years 3 months service credits, age 47, effective August 6, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays: None. It was moved by Trustee Kus, supported by Trustee Barkyoumb that the application for regular age and service retirement for Barbara T. Roush, Police Department, 25 years service credits, age 47, effective September 3 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for regular age and service retirement for James S. Scheidt, Fire Department, 19 years 3 months service credits, age 55, effective November 1 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5. Nays : None. Police & Fire Retirement System Regular Meeting of August 16 , 1994 Page 3 It was moved by Trustee Benavides, supported by Trustee Barkyoumb that the application for regular age and service retirement for Donald D. Schneider, Police Department, 25 years service credits, age 48, effective September 3, 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for regular age and service retirement for Richard E. Van Dussen, Police Department, 25 years service credits, age 49, effective September 3 , 1994. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Kus, Luzynski - 5 . Nays: None. It was moved by Trustee Kus, supported by Trustee Luzynski that the application for regular age and service retirement for Thomas J. Vasilion, Fire Department, 25 years 1 month service credits, age 48, effective August 20, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides , Cushman, Kus , Luzynski - 5 . Nays: None. it was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for conversion from duty disability to regular age and service retirement for Richard J. Bushamp, Police Department, 28 years 4 months service credits, age 52, effective August 3 , 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Kus Luzynski - 5 . Nays : None. The request for deferred retirement for Timothy E. Poxson was review by the board. It was moved by Trustee Benavides, supported by Trustee Barkyoumb that this item be put on pending items until such time as the City Attorney makes a recommendation. Adopted by the following vote: Unanimously. The proposal from Lansing Community College for the development and delivery for a four hour "Retirement Planning" series was reviewed by the board. It was the decision of the board that the September 14 , 1994 date be moved to October due to the time frame needed to get out notification to retirees and potential retirees. It was moved by Trustee Benavides, supported by Trustee Barkyoumb that the Chairperson of the board approve the proposal from Lansing Community College and that the cost of the series to come out of the retirement system. Adopted by the following vote: Unanimously. Police & Fire Retirement System Regular Meeting for August 16, 1994 Page 4 The board reviewed and discussed the draft of the guidelines for hiring a medical director. Trustee Kus will make the recommended changes and bring it back to the board for action at the next meeting. Other Business: Mr. Rubley informed the board that he had received a request from the Police Department regarding an ordinance on minimum benefits and cost of living increases. This was referred to the Law Department for their preparation of the ordinance. Mr. Rubley made reference to an article that appeared in the Lansing Police Non-Supervisory Newsletter regarding the Reciprocal Retirement Act in which the article stated that the City has down played the availability of this law and even possible denied people the right to use the reciprocal arrangement in the past. Mr. Rubley stated that the Retirement Office has asked potential retirees if they had any previous work at a governmental unit. Mr. Rubley informed the board that he had sent a communication to Tony Benavides, Chairperson, Ways and Means giving an update on the status of the Prefunding of Retirement Health Care. Mr. Rubley passed out a draft of the Request for Qualifications- Proposals for actuarial services. Mr. Rubley asked the board to review and if they have any comments to reply back to him in two weeks. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to excuse Trustees Hollister, Kehler and Lankheet from the meeting. Adopted by the following vote: Unanimously. The meeting adjourned at 9 : 50 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System 03-22-94P02 : 40 RCVD OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting July 19, 1994 8th Floor Conference Room Tuesday, 8 : 30 a.m. City Hall .Lansing, MI The Board met in regular session and was called to order by Chairperson Jack Cushman at 8 : 35 a.m. Present: Trustees Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Absent: Trustees Benavides, Hollister, Kus - 3 . Others : Douglas Rubley, Acting Secretary; Steve Dougan, Budget Division; Mr. and Mrs. Jerry Mires . It was moved by Trustee Barkyoumb, supported by Trustee Luzynski, that the minutes of the regular meeting of June 14, 1994 , be approved. Adopted by the following vote: Unanimously. The Interim Secretary reported 3 new members, 0 reinstatements, 0 refunds and 2 retired. Total Membership: 556 . Refunds made since the last regular meeting amounted to: $0 . Retirement allowances paid for the month of June, 1994, amounted to $685, 898 . 54 . Total retirement checks printed for the P&F System: 427 . Total retirement checks printed for all three systems: 1, 025 . Domestic relations orders received: 0. Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet, supported by Trustee Kehler, that the application for regular age and service retirement for Jeffrey R. Aveiro, Police Department, 26 years 4 months service credits, age 49, effective July 13 , 1994, be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Nays: None. It was moved by Trustee Luzynski, supported by Trustee Barkyoumb, that the application for regular age and service retirement for William R. Backus, Police Department, 25 years 3 months service credits, age 51, effective July 13 , 1994, be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Nays : None. Police & Fire Retirement System Regular Meeting of July 19, 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Luzynski, that the application for regular age and service retirement for Lawrence J. Bauer, Police Department, 27 years 1 month service credit, age 48 , effective July 2, 1994, be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Nays: None. It was moved by Trustee Lankheet, supported by Trustee Luzynski, that the application for regular age and service retirement for Philip R. Kent, Police Department, 25 years 3 months service credits, age 47, effective July 23 , 1994, be approved. Adopted by the following roll call: Yeas : Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Nays: None. Discussion was held regarding the application for conversion from duty disability to regular age and service retirement for Jerry L. Mires, Police Department. Mr. Rubley provided an overview of Mr. Mires ' situation. He has been on duty disability since September 1988, and in accordance with the FOP Supervisory Unit contract should have been placed on regular age and service retirement upon completion of 25 years of service, on December 19, 1991 . Mr . Rubley read Mr. Mires ' letter of July 13 , 1994, to the Board. Mr. Mires told the Board he was led to believe the conversion to regular age and service retirement was his option until his 55th birthday. He is the only person so affected by this language, and he estimated the difference would cost him approximately $400 per month if the conversion is made retroactive to 1991 . After further discussion by Board members, Trustee Lankheet moved, and Trustee Luzynski supported, the application of Jerry Mires to regular age and service retirement, effective July 19, 1994 . Approved by the following roll call: Yeas : Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5 . Nays : None. Mr. Rubley initiated discussion of mileage reimbursement when using personal vehicles to attend retirement conferences such as MAPERS. Board members discussed the concept of using earnings from securities lending for expenses for conferences and education. Trustee Luzynski moved that the use of earnings from securities lending be used to offset the excess expenses beyond City administrative rules for pre-approved travel expenses, up to the IRS milage rate and single room rates. Approved unanimously. Police & Fire Retirement System Regular Meeting of July 19 , 1994 Page 3 Other Business: Mr. Rubley reported that a proposal had been received from Lansing Community College for a retirement seminar, with a meeting to be set to discuss the proposal next week. Refunds of accumulated contributions were requested by Angela N. Young and Thavisak Saycocie. Approved unanimously. Mr. Rubley informed the Board of the technical agreement with the Police unions and the Fire union providing for increased minimum benefits for existing retirees and future cost of living adjustments for retirees age 60 and above. The technical agreement incorporated the increase of the actuarial assumption rate of return from 7% to 80, maintaining the 3% real rate of return assumption. Mr. Barkyoumb moved to adjust the assumed rate of return from 7% to 8%. Approved unanimously. Mrs. Kehler moved for excused absences for Trustees Benavides, Hollister and Kus. Approved unanimously. There was no report on investment of funds . The representatives of The Hannah Group were not able to meet with the Board today, and were rescheduled for Tuesday, August 16 . The meeting adjourned at 10 : 13 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System Oi-26-94P02 : 03 RCVD OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting June 14, 1994 8th Floor Conference Room Tuesday, 8 : 30 a.m. .Lansing, MI The Board met in regular session and was called to order by Chairperson, Jack Cushman, at 8: 30 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski - 8. Others : Douglas Rubley, Acting Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the minutes of the regular meeting of May 17, 1994 be approved with one correction. Adopted by the following vote: Unanimously. Trustee Hollister arrived at the meeting at 8 : 37 a.m. The Interim Secretary reported 0 new member(s) , 0 reinstatement( s) , 1 refund(s) and 4 retired. Total Membership: 553 . Refunds made since the last regular meeting amounted to $900 . 46 . Retirement allowances paid for the month of May, 1994 amounted to $678 , 487 . 19. Total retirement checks printed for the P&F System: 427. Total retirement checks printed for all three systems: 1, 026. Domestic relations orders received: 0. Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet, supported by Trustee Barkyoumb that the application for regular age and service retirement for David W. Joppie, Police Department 25 years 1 month service credits, age 47, effective June 4, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6 . Nays : None. It was moved by Trustee Kus, supported by Trustee Barkyoumb that the application for regular age and service retirement be for Harvey R. Sutter, Police Department, 25 years 1 month service credits, age 47, effective May 26 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski-6 . Nays: None. Police and Fire Retirement System Regular Meeting of June 14, 1994 Page 2 Trustee Kehler arrived at the meeting at 8 : 40 a.m. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for conversion from duty disability to regular age and service retirement for '.teary L. Chapman, Fire Department, 25 years service credits, age 51, effective June 15, 1995 . Adopted by the following roll call: Yeas : Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 7 . Nays : None. It was moved by Trustee Luzynski, supported by Trustee Hollister that the application for conversion from duty disability to regular age and service retirement for Martin F. Lemons, Fire Department, 31 years, 1 month service credits, age 55,' effective June 7, 1994. Adopted by the following roll call: Yeas : Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 7 . Nays: None. Trustee Benavides arrived at the meeting at 8 : 41 a.m. Other Business- Mr. Rubley informed the Board that he had received a call back from Lansing Community College regarding the retirement seminar but has not had an opportunity to get with them. Trustee Cushman asked Mr. Rubley to notify the Board when the next meeting is set. Mr. Rubley informed the Board that one of the sessions at MAPERS covered pending bills in the House at the Federal level. One of the bills pending deals with IRS Section 415 . Mr. Rubley gave an overview of this bill. It was moved by Trustee Hollister, supported by Trustee Barkyoumb to support passage of the proposed 415 legislation. Adopted by the following vote: Unanimously. Mr. Rubley gave an update on the FOP Supervisory and Non- Supervisory and Firefighters proposal to increase the minimum pension for retirees and spouses. It was moved by Trustee Hollister, supported by Trustee Benavides that those employees not covered by a bargaining unit will be included in the proposed increases for retirees. Adopted by the following vote: Unanimously. Trustee Cushman asked Mr. Rubley how the Board should proceed with the selection of a medical director. Mr. Rubley stated that he would work with the committee to develop an RFQP. The committee has a tentative September 1, 1994 to have a draft prepared. 2�lie and Fire Retirement System Regular Meeting of June 14, 1994 Page 3 Mr . Rubley informed the Board that the Retirement . Office has received all the duty disability earning statements except a statement from Daniel Jacque. Mr. Rubley indicated that he will submit a list to the Board next month for duty disability re-exams. The meeting adjourned at 9 : 30 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System 06-20-94P05 : 16 RCVI) OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting May 17, 1994 8th Floor Conference Room Tuesday, 8 : 35 a.m. Lansing, MI The Board met in regular session and was called to order by Chairperson, Jack Cushman, at 8 : 35 a.m. Present: Trustees Barkyoumb, Cushman, Hollister, Kus, Lankheet and Luzynski - 6 Absent: Trustees Benavides and Kehler - 2 Others : Douglas Rubley, Acting Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the minutes of the regular meeting of April 19, 1994 be approved. Adopted by the following vote: Unanimously. The Interim Secretary reported 0 new member(s) , 0 reinstatement( s ) , 0 refund( s) and 4 retired. Total Membership: 553 . Refunds made since the last regular meeting amounted to $0 . Retirement allowances paid for the month of April, 1994 amounted to $667 , 634 . 39 . Total retirement checks printed for the P&F System: 425 . Total retirement checks printed for all three systems: 1 , 025 . Domestic relations orders received: 0 . Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0 . It was moved by Trustee Lankheet, supported by Trustee Hollister that the application for Conversion from Duty Disability to Regular Age and Service Retirement for Peter G. Alvord, Police Department, 25 years service credits , age 49 , effective May 4 , 1994 . (Mr. Alvord withdrew his previous application before the effective date of April 28, 1994 . ) Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6 . Nays: None. Police and Fire Retirement System Regular Meeting of May 17 , 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Kus that 'the application for regular age and service retirement for Lucius O. Hayward, Police Department, 25 years service credits , age 50 , effective April 30, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6 . Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for regular age and service retirement for Lawrence F. Pung, Fire Department, 29 years 10 months service credits, age 52 , effective May 9, 1994 be approved. Adopted by the following roll call : Yeas : Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6 . Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the request for refund of accumulated contributions for Kandis Boles hired August, 1993 be approved. Adopted by the following vote: Unanimously. Other Business: Mr. Rubley gave an overview of his and Trustees Kus and Cushman' s meeting with representatives from Lansing Community College (LCC) regarding a retirement seminar . LCC will be getting back with Mr. Rubley with time frames that they can offer the seminar. Mr. Rubley reminded the Board that The Hannah Group would not be at the joint meeting following the regular meeting this morning. They needed more time to prepare the cost allocation. They are scheduled to come in on June 14, 1994 at 9 : 30 a.m. Mr. Rubley informed the Board they he had met with Trustee Kehler and Trustee Pontz on the RFQP for actuarial services. Mr. Rubley stated that they have a draft ready to be typed. Mr. Rubley indicated that he would like this Board to review the draft. Trustee Cushman asked that a copy of the scope of service and how the firm will be evaluated be sent to the Board members. Mr. Rubley stated that he would like to get the RFQP out by early June. It was moved by Trustee Hollister, supported by Trustee Barkyoumb to have the chair select three members to review and select an actuary. It was adopted by the following vote: Unanimously Police and Fire Retirement System Regular Meeting of May 17 , 1994 Page 3 Mr. Rubley suggested that the Board write a letter to MAPERS asking that the MAPERS conference be geared toward plan administration as well as investments. Trustee Barkyoumb informed the Board that the Internal Revenue Service puts on a 3 day seminar in Washington DC the first part of September regarding public pensions and plan administration. Trustee Hollister left the meeting at 9 : 03 a.m. It was moved by Trustee Kus, supported by Trustee Barkyoumb to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. It was moved by Trustee Luzynski, supported by Trustee Kus to excuse Trustee Kehler from the meeting. Adopted by the following vote: Unanimously. Mr. Rubley gave an overview of the performance of the fund managers . The meeting adjourned at 9 : 35 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System 05-31 -94 P01 :-1 I i�d OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting April 19 , 1994 8th Floor Conference Room Tuesday, 8 : 35 a.m. Lansing, MI The Board met in regular session and was called to order by Chairperson, Jack Cushman, at 8 : 35 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski - 8 Others: Douglas Rubley, Interim Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division; Melvin McWilliams, Law Department; William Backus and Lucius Hayward. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the minutes of the regular meeting of March 22 , 1994 be approved with one correction. Adopted by the following vote: Unanimously. The Interim Secretary reported 0 new member(s) , 0 reinstatement( s ) , 0 refund( s) and 0 retired. Total Membership: 553 . Refunds made since the last regular meeting amounted to $0 . Retirement allowances paid for the month of March, 1994 amounted to $663 , 307 . 70 . Total retirement checks printed for the P&F System: 421 . Total retirement checks printed for all three systems: 1 , 021 . Domestic relations orders received: 0 . Domestic relations orders pending: 2 . Eligible domestic relations orders certified: 0 . Trustee Kus informed the Board that he had received letters from William -'Backus, Lucius Hayward, David Joppie, Craig Klemens and Harvey Sutter asking that their application for regular age and service retirement be withdrawn. It was moved by Trustee Luzynski, supported by Trustee Kus that the application for regular age and service retirement for Samuel R. Hopkins, Fire Department, 28 years 6 months service credits, age 51 , effective April 15, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides , Cushman, Kehler, Kus , Lankheet, Luzynski - 7 . Nays: None. Police and Fire Retirement System Regular Meeting of April 19, 1994 Page 2 It was moved by Trustee Lankheet, supported by Trustee Luzynski that the application for regular age and service retirement for Dean L. Temple, Police Department, 25 years 3 months service credits, age 47 , effective April 15, 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Kehler, Kus, Lankheet, Luzynski - 7 . Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet that the application for regular age and service retirement for Kenneth W. Woods, Police Department, 25 years service credits, age 46 , effective April 30, 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Kehler, Kus, Lankheet, Luzynski - 7 . Nays: None. Mr. Rubley informed the Board that he had setup a Joint Board meeting on May 17 , 1994 . Rita Ahee Daboul, from National Bank of Detroit, will be present to discuss securities lending and Dick Zaccaro, from The Hannah Group, will be present to discuss asset allocation. Trustee Hollister arrived at the meeting at 8 : 45 a.m. Pending Items) Trustee Cushman informed the Board that he, along with Trustees Kus and Luzynski, had taken a survey of local governmental units on how they select their medical director. Trustee gave an overview of the results . Trustee Cushman asked those trustees attending the MAPERS Conference to get input from other trustees at the conference. Trustee Kus suggested that by the September Board meeting that they should be able to bring in a draft of the process of selecting a medical director. Other Business Mr. Rubley informed the Board that he is working with Sharon Bommarito on the retirement seminar. Mr. Rubley stated that he had contacted Lansing Community College (LCC) . LCC indicated that they had held similar seminars. A meeting has been set for May 3 , 1994 at 11 : 00 a.m. to meet with Ellen Sullivan and Tony Suliano to discuss this issue. Police and Fire Retirement System Regular Meeting of April 19, 1994 Page 3 Mr. Rubley gave an overview of the performance of the fund managers. The meeting adjourned at 9 : 24 a.m. �7— Douglas L. Rubley, Acting Secretary Police & Fire Retirement System 04-Z6-Y4A'1 U : 1 G RC1/D OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OFLANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting March 22, 1994 8th Floor Conference Room Tuesday, 8 : 35 a.m. Lansing, MI The Board met in regular session and was called to order by Chairperson, Jack Cushman, at 8 : 35 a.m. Present: Trustees Barkyoumb, Cushman, Hollister, Kus, Lankheet and Luzynski -6 . Absent: Trustee Benavides and Kehler - 2 . Others : Douglas Rubley, Interim Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division; James Smiertka and Melvin McWilliams, Law Department. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the minutes of the regular meeting of February 15 , 1994 and the joint board meeting of February 17 , 1994 be approved. Adopted by the following vote: Unanimously. The Interim Secretary reported 1 new member, 0 reinstatements, 1 .refund and 2 retired. Total Membership: 553 . Refunds made since the last regular meeting amounted to $731 . 02 . Retirement allowances paid for the month of February, 1994 amounted to $661 , 457 . 27 . Total retirement checks printed for the P&F System: 423 . Total retirement checks printed for all three systems: 1 , 023 . Domestic relations orders received: 1 . Domestic relations orders pending: 1 . Eligible domestic relations orders certified: 0 . It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for Conversion from Duty Disability to Regular Age and Service Retirement for Peter G. Alvord, Police Department, 25 years service credits, age 49, effective April 28 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6 . Nays : None. Discussion was held on spousal sign-off on retirement options. The Board felt that a sign-off was not needed that the spousal information could be obtained by other sources . Police and Fire Retirement System Regular Meeting of March 22 , 1994 Page 2 Mr. Rubley gave an overview of a letter and release form he received from M D Sass regarding Executive Life bonds . Mr. Smiertka recommended that there really isn' t enough information at this time to sign this release. It was moved by Trustee Hollister, supported by Trustee Cushman that the release would not be signed. Adopted by the following vote: Unanimously. Pending Item( s ) : Mr. Rubley informed the Board that the issue regarding the increases in minimum pensions is in the Ways and Means committee and with the unions . Mr. Rubley informed the Board that a telephone survey was taken of some cities such as Jackson and Grand Rapids and how their retirement systems handle duty disability requests . The majority of those cities surveyed use a doctor other than the city doctor. It was moved by Trustee Hollister, supported by Trustee Barkyoumb that the Chairperson choose a three member committee to review the concept of hiring a medical director. Adopted by the following vote: Unanimously. Other Business : Trustee Kus brought up the subject of a pension seminar geared toward information on pre-planning for retirement. Trustee Hollister suggested that Sharon Bommarito be invited to the next meeting to go over the Board' s ideas . Mr. Rubley indicated that he would contact Ms . Bommarito. Trustee Hollister left the meeting at 9 : 25 a.m. Mr. Rubley gave a brief review of a letter he had received from National Bank of Detroit (NBD) regarding securities lending. Mr. Rubley suggested that NBD be invited to a joint Board meeting to review securities lending. Mr. Rubley informed the Board that he had received information regarding the MAPERS 1994 Spring Conference. The conference will be held at Shanty Creek Resort in Bellaire, Michigan on May 22, 1994 through May 24, 1994 . Mr. Rubley asked that if any Trustee would like to attend to let Teri Cook know by Friday, March 25, 1994 . Trustee Cushman left the meeting at 9 : 30 a.m. Police and Fire Retirement System Regular Meeting of March 22 , 1994 Page 3 Mr. Rubley gave an overview of the performance of the fund managers . The meeting adjourned at 9 : 50 a.m. Douglas L. Rubley, cting Secretary Police & Fire Retirement System JOINT BOARD MEETING BOARD OF TRUSTEES CITY OF LANSING RETIREMENT SYSTEMS 8th Floor, Conference Room February 17 , 1994 City Hall Thursday, 8 : 14 a.m. The Joint Board Meeting was called to order at 8 : 14 a.m. Present: Trustees Barkyoumb, Bommarito, Brodie, Cushman, Hollister, Kehler, Kruger, Kus , Lankheet, Luzynski, Pontz and Rubley - 12 Absent: Trustees Benavides - 1 . Others Present: James Smiertka, Law Department ; Dick Zaccaro, The J.A. Hannah Group; Teri Cook, Finance Department; Steven Dougan, Budget Division; Mr. Dick Zaccaro passed out the quarterly reports for the period ending December 31, 1993 for the Police & Fire Retirement System and the Employees Retirement System. Mr. Zaccaro reviewed tht reports for those present. Discussion was held on the reports . Mr. Zaccaro passed out an Asset Allocation Study for both system. Discussion was held on this study. The meeting adjourned at 9 : 25 a.m. Douglas L. Rubley, Acting Secretary Retirement Boards-Joint Board Meeting OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting February 15, 1994 8th Floor Conference Room Tuesday, 8 : 36 a.m. Lansing, MI The Board met in regular session and was called to order by Chairperson, Jack Cushman, at 8 : 36 a.m. Present: Trustee Barkyoumb, Cushman, Hollister, Kehler, Kus and Luzynski -6 . Absent: Trustee Benavides and Lankheet - 2 . Others : Douglas Rubley, Interim Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division and Melvin McWilliams, Law Department. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the minutes of the regular meeting of January 18 , 1994 be approved with one correction. Adopted by the following vote: Unanimously. The Interim Secretary reported 0 new members , 0 reinstatements , 0 refund and 4 retired. Total Membership: 555 . Refunds made since the last regular meeting amounted to $00 . Retirement allowances paid for the month of January, 1994 amounted to $654 , 421 . 12 . Total retirement checks printed for the P&F System: 421 . Total retirement checks printed for all three systems : 1, 025 . Domestic relations orders received: 0 . Domestic relations orders pending: 1 . Eligible domestic relations orders certified: 0 . It was moved by Trustee Luzynski, supported by Trustee Kus that the application for Regular Age and Service Retirement for Daniel H. Decker, Fire Department, 32 years 8 months service credits, age 57, effective February 7 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kehler, Kus, Luzynski - 6 . Nays : None. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for Regular Age and Service Retirement for Larry B. Flitton, Fire Department, 26 years 7 months service credits, age 51 , effective February 18 , 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kehler, Kus , Luzynski -6 . Nays : None. Police and Fire Retirement System Regular Meeting of February 15 , 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the request from Tracy T. Jones for refund of accumulated contributions be approved. Adopted by the following vote: Unanimously. Pending Item(s) : Mr. Rubley informed the board that a public hearing is being set to review the ordinance for increases in the minimum pensions. Mr. Rubley also informed the board that he had received a response back from the union representatives . This items was placed back on pending items . Discussion was held on the meetings that Trustee Kus and Luzynski had with Dr. Yerian, D.O. , Michigan Department of Public Health and Dr. Jurczak, M.D. , Olin Health Center, MSU. Trustee Kus stated that both doctors indicated they would be willing to work with the board to develop criteria for selection of a medical director. It was moved by Trustee Hollister, supported by Trustee Kus that Mr. Rubley contact other communities and the Michigan Municipal League for input and report back to the board. Adopted by the following vote: Unanimously. Trustee Kus left the meeting at 9 : 26 a.m. It was moved by Trustee Kehler, supported by Trustee Barkyoumb to excuse Trustee Lankheet and Benavides from the meeting. Adopted by the following vote: Unanimously. Trustee Hollister and Kehler left the meeting at 9 : 30 a.m. Other Business Mr. Rubley stated that there should be at least two Board members to review the RFQPs on actuarial services when they come in. Mr. Rubley gave an overview of the performance of the money managers . The meeting adjourned at 10 : 15 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System - - • -r i v., • U OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT BOARD Regular Meeting January 18, 1994 8th Floor Conference Room Tuesday, 8 : 37 a.m. Lansing, MI The Board met in regular session and was called to order by Acting Secretary, Doug Rubley, at 8 : 37 a.m. Present: Trustee Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski -7 . Others: Douglas Rubley, Interim Secretary; Teri Cook, Finance Department, Steven Dougan, Budget Division and Melvin McWilliams, Law Department. It was moved by Trustee Kus, supported by Trustee Luzynski to elected Trustee Cushman as Chairperson. Adopted by the following vote: Unanimously. It was moved by Trustee Lankheet, supported by Trustee Luzynski to elect Trustee Kus as Vice Chairperson. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski that the minutes of the regular meeting and the joint board meeting of December 14, 1993 be approved. Adopted by the following vote: Unanimously. Trustee Benavides arrived at the meeting at 8 : 40 a.m. and Trustee Hollister arrived at the meeting at 8 : 45 a.m. The Interim Secretary reported 0 new members, 0 reinstatements, 0 refund and 0 retired. Total Membership: 559 . Refunds made since the last regular meeting amounted to $00. Retirement allowances paid for the month of December, 1993 amounted to $645 , 590 . 39. Total retirement checks printed for the P&F System: 417 . Total retirement checks printed for all three systems: 1 , 020. Domestic relations orders received: 0 . Domestic relations orders pending: 1 . Eligible domestic relations orders certified: 0 . It was moved by Trustee Barkyoumb, supported by Trustee Kus that the application for Regular Age and Service Retirement for Jeffrey J. Curtis, Police Department, 26 years 6 months, age 49, effective January 22 , 1994. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski - 8 . Nays: None. Police and Fire Retirement System Regular Meeting of January 18, 1994 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Benavides that the application for Regular Age and Service Retirement for Kenneth L. Ruppert, Police Department, 25 years 1 month service credits, age 47, effective January 8 , 1994 be approved. Adopted by the following roll call: Yeas : Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski - 8 . Nays: None. It was moved by Trustee Benavides, supported by Trustee Barkyoumb that the Conversion from Duty Disability to Regular Age and Service Retirement for Joseph A. Mezzano, Police Department, 25 years service credit, age 46 , effective March 31, 1994 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet and Luzynski - 8 . Nays: None. Pending Item( s) : Mr. Rubley reviewed the Gabriel, Roeder, Smith & Company Actuarial Services Agreement for the new Board members present. Discussion was held on this agreement. In accordance with the Purchasing Ordinance, it was moved by Trustee Hollister, supported by Trustee Benavides that the Finance Department send out a RFQP for actuarial services. Adopted by the following vote: Unanimously. Mr. Rubley informed the Board that he had not received any recommendations from the unions in regard to the request to increase the minimum retirement benefits for retirees and survivors. Other Business Mr. Rubley informed the Board that the contract for Medical Service Director expires August, 1994. Discussion was held on current services. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to table this item until the Board has the opportunity to review the procedure for hiring a Medical Director. Mr. Rubley informed the Board that he had received a letter from John Hill, from Loomis Sayles, stating that he was being transferred to California. Mr. Hill stated that Mike Harris would be covering the City' s accounts. It was the decision of the Board that the March 15, 1994 meeting be moved to March 22, 1994 . Police and Fire Retirement System Regular Meeting of January 18, 1994 Page 3 Mr. Rubley informed the Board that Dick Zaccaro, The Hannah Group, is planning on attending a Joint Board meeting in February to go over the quarterly report. Mr. Rubley gave an overview of the performance of the money managers. The meeting adjourned at 10 :12 a.m. Douglas L. Rubley, Acting Secretary Police & Fire Retirement System