Loading...
HomeMy WebLinkAbout1996 mins Police and Fire Retirement System FINAL OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting December 17, 1996 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 Jim Kus at 8:35 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Kus, Lankheet, Luzynski, Rubley - 7. Absent: Trustee Hollister- 1. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget; James Smiertka, Jack Jordan, Law Department; Lawrence Pung. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve the minutes of the regular meeting of November 19, 1996. Adopted by the following vote: Unanimously. Mr. Lawrence Pung was present to comment on his pension adjustment error. Discussion was held. The Secretary reported: 3 new member(s)(Jason Daniel,Scott Ellis,Chad Kelly, Police Department), 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 539. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of November, 1996 amounted to $894,491.04. Total retirement checks printed for the P&F System: 478. Total retirement checks printed for all three systems: 1,062. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. The Board reviewed the request for refund of accumulated contribution from Rachelle Weaver, Fire Department. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve this request. Adopted by the following vote: Unanimously. The Board reviewed the duty disability medical evaluation on Loren Mears. Discussion was held. It was moved by Trustee Barkyoumb,supported by Trustee Lankheet to approve Mr. Mears' request for duty disability retirement. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet, Luzynski, Rubley - 7. Nays: None. Police & Fire Retirement System Regular Meeting of December 17,1996 Page 2 It was moved by Trustee Barkyoumb, supported by Trustee Benavides to elect Trustee Kus as Chairperson and Trustee Luzynski as Vice Chairperson. Adopted by the following vote: Unanimously. It was moved by Trustee Rubley,supported by Trustee Barkyoumb to excuse Trustee Hollister from the meeting. Adopted by the following vote: Unanimously. The Board reviewed the schedule of meeting dates for calendar year 1997. It was moved by Trustee Kus, supported by Trustee Barkyoumb to change the May 20th meeting date to May 13th and to approve the schedule with this change. Adopted by the following vote: Unanimously. Other Business Discussion was held regarding the pension adjustment error for Mr. Hopkins, Mr. Vesillion and Mr. Jackson. Mr. Dougan stated that he had not heard from these retirees. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to make this pension adjustment on a 12 month basis as outline in the letters sent to Mr. Hopkins, Mr. Vesillion and Mr. Jackson beginning with the December check. Adopted by the following vote: Unanimously. It was moved by Trustee Lankheet,supported by Trustee Barkyoumb that any expenses incurred by the Trustees going to Ft. Wayne to meet with International fund manager be paid for out of securities lending. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the fund managers. TWW. 0 ed at 9:46 a.m. Ron, Secretary / q Police & Fire Retirement System My*nytes app owed on ,�o James Kus, Chairperson 17 OFFICIAL.VRC C,EE ,DINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting November 19, 1996 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 Jim Kus at 8:40 a.m. Present: Trustees Barkyoumb, Cochran, Hollister, Kehler, Kus, Lankheet, Luzynski - 7. Absent: Trustee Benavides - 1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; James Smiertka, Law Department; Dr. Ernest Chiodo. It was moved by Trustee Barkyoumb,supported by Trustee Luzynski to approve the minutes of the regular meeting of October 15, 1996. Adopted by the following vote: Unanimously. The Secretary reported: 4 new member(s)(Scott Clark, Bryan Curtis, Katherine Maplethorpe, Brad Martin, Police Department), 0 reinstatement(s), 0 refund(s) 0 transfers and 0 retired. Total active membership: 537. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of October, 1996 amounted to $893,080.75. Total retirement checks printed for the P&F System: 477. Total retirement checks printed for all three systems: 1,063. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Luzynski, supported by Trustee Cochran to approve the application for regular age and service retirement for Bruce E. Wood,Fire Department, 25 years service credits, age 49, effective December 14, 1996 Adopted by the following roll call: Yeas: Barkyoumb, Cochran, Kehler, Kus, Lankheet, Luzynski- 7. Nays: None. Police &Fire Retirement System Regular Meeting of November 19,1996 Page 2 The Board reviewed a letter from David C. Miller regarding repayment of mistake in calculation of his pension. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to extend the repayment to cover the length of time of the erroneous calculations received, in this case 22 months. Adopted by the following vote: Unanimously. Dr. Cl-dodo was present to review the duty disability medical evaluation for Richard Burgess. Discussion was held. Dr. Chiodo recommended that Mr. Burgess continue to be on duty disability retirement. Discussion was held regarding the refusal of a medical evaluation by Daniel Isaac. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to send Mr. Isaac a letter indicating that if he refuses to keep the next doctor's appointment that the Board will suspend his pension until he submits himself to a physical examination. Adopted by the following vote: Unanimously. Discussion was held regarding the conversion from non-duty disability to regular age and service retirement for Armand Brown. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve the conversion from non-duty disability to regular age and service for Armand Brown. Adopted by the following vote: Unanimously. Mr. Rubley handed out information regarding new rules on taxable income. Discussion was held on the information provided. Discussion was held regarding the prefunding of health care. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to have Gabriel, Roeder, Smith &Company draft the new ordinance related to the prefunding of health care. The fee to be paid out of securities lending. Adopted by the following vote: Unanimously. It was moved by Trustee Luzynski, supported by Trustee Kehler to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. The m. Robert W. Swanson,Secretary Police &Fire Retirement System Minutes approved on/L'/ 7'9L A WWI ffnes Kus, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD1.OF TRL ;TEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting October 15, 1996 10th Floor Conference Room Tuesday, 8:40 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Vice Chairperson Jim Kus at 8:40 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Hollister, Kehler, Kus, Lankheet, Absent: Trustee Luzynski-1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division; James Smiertka, Law Department; Alan Sonnanstine, uabriel, Roeder, Smith&Company. It was moved by Trustee Barkyoumb,supported by Trustee Hollister to approve the minutes of the regular meeting of September 17, 1996. Adopted by the following vote: Unanimously. The Secretary reported: 10 new member(s)(Jacob Atwood, Mauricio Barrera, Terry Butler, James Cherry, Jr., Paul Cleveland, Jeffrey Hundt, Heidi Moen, Michael Mulder, Clarence Patterson, Rachelle Weaver,Fire Department), 0 reinstatement(s), 3 refund(s) 0 transfers and 1 retired. Total active membership: 533. Refunds made since the last regular meeting amounted to: $14,796.57. Retirement allowances paid for the month of September, 1996 amounted to $894,033.15. Total retirement checks printed for the P&F System: 477. Total retirement checks printed for all three systems: 1,062. Domestic relations orders received: 0. Domestic relations orders pending:2. Eligible domestic relations orders certified: 0. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to approve the application for regular age and service retirement for Dennis Freeman, Fire Department, 25 years service credits, age 50, effective November 16, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Hollister, Kehler, Kus, Lankheet- 7. Nays: None. Police &Fire Retirement System Regular Meeting of October 15,1996 Page 2 The Board reviewed a request for duty disability retirement from Loren Mears. It was moved by Trustee Barkyoumb, supported by Trustee Benavides to send Mr. Mears to the medical director for evaluation and recommendation. Adopted by the following vote: Unanimously. Discussion was held regarding the duty disability status report and sending Daniel Isaac for reevaluation. It was the Board's decision to ask the City Attorney for his opinion. The Board reviewed a letter from Alan Sonnanstine,Gabriel,Roeder,Smith & Company, regarding actuarial services fee for 1996/97. The proposed fee is $6,780.00 a 2.80% increase from 1995/96. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to accept the actuarial services fee for 1996/97. Adopted by the following vote: Unanimously. Mr. Dougan informed the Board that only one petition was received for Fire Trustee, from Tom Cochran. Mr. Dougan stated that it was a valid petition and that Mr. Cochran has been sworn in. It was moved by Trustee Hollister, supported by Trustee Barkyoumb to excuse Trustee Luzynski from the meet..ig. Adopted by the following vote: Unanimously. Mr. Sonnanstine was present to go over the actuarial report for December 31, 1995. Discussion was held. The eting adjour d at 9:45 a.m. Robert W. Swanson, Secretary �JJ Police & Fire Retirement System Minutes approved on /l Aloy 76 4J es Kus, C t rson CITY OF LANSING :' POLICE AND FIRE RETIREMENT SYSTEM �, P ri 1996 CHAIR -Vacant VICE-CHAIR-James Kus William E. Barkyoumb-Citizen Tony Benavides-Council David C. Hollister-Mayor Fire Trustee-Vacant Judyth Kehler-Treasurer James R. Kus-Police Bruce Lankheet-Police Paul S. Luzynski-Fire '.' C' ,t c:+-tip OFFICIAL PROCEEDINGSCOP ftE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting September 17, 1996 10th Floor Conference Room Tuesday, 8:40 a.m. The Board met in regular session and was called to order by Vice Chairperson Jim Kus at 8:40 a.m. Present: Trustees Barkyoumb, Benavides, Hollister, Kus, Lankheet, Luzynski- 6. Absent: Trustee Kehler -1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division; Tom Cochran, I.A.F.F. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approve the minutes of the regular meeting of June 18, 1996. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approve the minutes of the regular meeting of July 16, 1996. Adopted by the following vote: Unanimously. The Secretary reported: 5 new member(s)(Joel Cutler, Chad Frazier, George Kelly, Jeffry Poirier, Robert Vargas, Police Department), 0 reinstatement(s), 1 refund(s) 0 transfers and 3 retired. Total active membership: 527. Refunds made since the last regular meeting amounted to: $782.44. Retirement allowances paid for the month of August, 1996 amounted to $888,328.70. Total retirement checks printed for the P&F System: 480. Total retirement checks printed for all three systems:1,065. 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 to approve the application for regular age and service retirement for James R. Cook,Police Department, 28 years, 1 month service credits, age 50, effective August 1, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Hollister, Kus, Lankheet, Lankheet-6. Nays: None. Police &Fire Retirement System Regular Meeting of September 17,1996 Page 2 It was moved by Trustee Luzynski,supported by Trustee Benavides to approve the application for regular age and service retirement for John B. Cushman,Jr., Fire Department, 25 years, 3 months service credits, age 47, effective August 15, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides,Hollister, Kus, Lankheet,Luzynski -6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approved the application for regular age and service retirement for Craig R. Rice,Fire Department,27 years,3 months service credits, age 48, effective September 4, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides,Hollister, Kus, Lankheet,Luzynski-6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Benavides to approve the application for conversion from duty disability to regular age and service retirement for Dennis C. Donahue, Police Department, 25 years service credits, age 48, effective October 4, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Hollister, Kus, Lankheet,Luzynski-6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Benavides to approve the application for conversion from duty disability to regular age and service retirement for Rodney W. Hunt, Fire Department,31 years service credits, age 53, effective July 24, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides Hollister, Kus, Lankheet,Luzynski-6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve the application for conversion from duty disability to regular age and service retirement for Rodger T. Dell, Fire Department, 25 years, 2 months service credits, age 49, effective July 15, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides Hollister, Kus, Lankheet,Luzynski-6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approve the application for non-duty death retirement for Christine H. Fabijancic, widow of William V. Fabijancic, Sr., Police Department, 17 years, 8 months service credits, age 51,effective August 9, 1996. Yeas: Barkyoumb, Benavides Hollister, Kus, Lankheet, Luzynski-6. Nays: None. Police & Fire Retirement System Regular Meeting of September 17,1996 Page 3 It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approve the requests for refund of accumulated contributions for: Amanda T. Cordell, Police Department David Hunter, Police Department Gerry VanderVelde, Fire Department Michelle VanderVelde, Fire Department Adopted by the following vote: Unanimously. The duty disability report from Dr. Chiodo was tabled until the October meeting, so that Dr. Chiodo could be present at the meeting. It was moved by Trustee Luzynski, supported by Trustee Barkyoumb that any application, for duty disability, that is received prior to the October meeting that it be forwarded directly to Dr. Chiodo for review. Adopted by the following vote: Unanimously. It was moved by Trustee Luzynski, supported by Trustee Benavides to excuse Trustee Kehler from the meeting. Adopted by the following vote: Unanimously. It was moved by Trustee Hollister,supported by Trustee Benavides that the Trustee representing the fire department be declared vacant. It was moved by Trustee Barkyoumb, supported by Trustee Benavides to amend election rules to allow one petition for completion of present term and for the new term. Adopted by the following vote: Unanimously. It was moved by Trustee Benavides, supported by Trustee Hollister that the resolution be referred to the City Attorney for his review. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to appoint Trustee Kus as Chairperson and Paul Luzynski as Vice Chairperson. Adopted by the following vote: Unanimously. Abstained: Trustees Kus and Trustee Luzynski. Discussion was held regarding the National Bank of Detroit(NBD) decision to terminate its custodial banking services. The Board received a copy of an RFQ from The Hannah Group. It was moved by Trustee Barkyoumb,supported by Trustee Lankheet to have The Hannah Group proceed with the search for a new custodial bank for the assets of the Police &Fire Retirement System including the securities lending arrangement. Adopted by the following vote: Unanimously. Police & Fire Retirement System Regular Meeting of September 17,1996 Page 4 Trustees Lankheet, Barkyoumb and Kehler volunteered to be on the subcommittee for reviewing the custodial bank selection. It was moved by Trustee Lankheet, supported by Trustee Hollister to send out an RFQ for a new consultant including The Hannah Group. Adopted by the following vote: Unanimously. Mr. Rubley gave an overview of the performance of the fund managers. The meeting adjo rned at 9:45 a.m. Robert W. Swanson, Secretary Police & Fire Retirement System Minutes approved on 10- S-X Ja es Kus, C airperson CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM AGENDA Regular Meeting September 17, 1996 10th Floor Conference Room Tuesday,8:30 a.m. City Hall Lansing, MI 1. Call to Order. 2. Roll Call- Trustees Barkyoumb,Benavides,Hollister,Kehler,Kus,Lankheet,Luzynski- 7. 3. Reading of the Minutes of the Regular Meetings of June 18, 1996 and July 16, 1996. 4. Public Comments for Items on the Agenda. 5. Secretary's Report. 5 new member(s)(Joel Cutler, Chad Frazier, George Kelly, Jeffry Poirier, Robert Vargas, Police Department), 0 reinstatement(s),1 refund(s) 0 transfers and 3 retired. Total active membership: 527. Refunds made since the last regular meeting amounted to: $782.44. Retirement allowances paid for the month of August, 1996 amounted to $888,328.70. Total retirement checks printed for the P&F System: 480. Total retirement checks printed for all three systems: 1,065. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. 6. Application for Regular Age &Service Retirement for:' James R. Cook, Police Department, 28 years, 1 month service credits, age 50, effective August 1, 1996. John B. Cushman,Jr., Fire Department,25 years,3 months service credits, age 47, effective August 15, 1996. Craig R. Rice, Fire Department, 27 years, 3 months service credits, age 48, effective September 4, 1996. 7. Application for Conversion from Duty Disability to Regular Age & Service Retirement : Dennis C. Donahue, Police Department, 25 years service credits, age 48, effective October 4, 1996. Rodney W. Hunt, Fire Department, 31 years service credits, age 53, effective July 24, 1996. Rodger T. Dell, Fire Department, 25 years, 2 months service credits, age 49, effective July 15, 1996. 8. Conversion from Non-Duty Disability to Regular Age & Service Retirement: Armand Brown, Fire Department, Age 55. 9. Application for Non-Duty Death Retirement: Christine H. Fabijancic, widow of William V. Fabijancic Sr., Police Department, 17 years, 8 months service credits, age 51, effective August 9, 1996. 10. Request for Refund of Accumulated Contributions: Amanda T. Cordell, Police Department Duane Fish, Police Department David Hunter, Police Department Gerry VanderVelde, Fire Department Michelle VanderVelde, Fire Department 11. Duty Disability Status Report- Dr. Chiodo. 12. Excusing of Board Members. 13. Election of Board Member - Replacing John B. Cushman,Jr. 14. National Bank of Detroit Contract. 15. Other Business. 16. Investment of Funds. 17. Public Comments for Items not on the Agenda. 16. Pending Item(s): a. Outstanding Issues. 1) Directed Brokerage Commissions 2) Fall Retirement Seminar �G FINANCE DEPARTMENT 831 City Hall, 124 W.Michigan Ave Lansing,Michigan 48933 (517)483-4500 i David C.Hollister -D Mayor Robert W.Swanson C, C i -- Director of Finance PUBLIC MEETING NOTICE- CANCELLATION CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM The Police & Fire Retirement System Board meeting scheduled for August 28, 1996 at 8:30 a.m. has been cancelled due the lack of a quorum. "Equal Opportunity Employer" ti�S I Nc FINANCE DEPARTMENT 831 City Hall, 124 W. Michigan Ave 1 Lansing,Michigan 48933 i I (517)483-4500 I �cH 1 - David C.Hollister Mayor Robert W.Swanson Director of Finance PUBLIC MEETING NOTICE DATE CHANGE CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM The Police & Fire Retirement System Board meeting scheduled for August 20, 1996 at 8:30 a.m. has been moved to August 28, 1996 at 8:30 a.m. in the 8th Floor Conference Room. "Equal Opportunity Employer" yNN S "C FINANCE DEPARTMENT 831 City Hall, 124 W Michigan Ave Lansing,Michigan 48933 (5 17) 483-4500 David C.Hollister Mayor Robert W.Swanson Director of Finance PUBLIC MEETING NOTICE JOINT COMMITTEE MEETING CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM AND EMPLOYEES RETIREMENT SYSTEM There will be Joint Police and Fire Retirement System and Employees Retirement System Board meeting held on Thursday, August 22, 1996 at 9:30 a.m. in the 8th Floor Conference Room. The purpose of the meeting is for a presentation by The Hannah Group, Lazard Freres and Harbor Capital. 1— — OFFICIAL PROCEEDINGS OF THE BOARD, 0 'R'I T5 ;EES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting July 16, 1996 8th Floor Conference Room Tuesday, 8:39 a.m. The Board met in regular session and was called to order by Chairperson Jack Cushman at 8:39 a.m. Present: Trustees Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 7. Absent: Trustee Benavides -1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division; Brian Bevez and James Smiertka, Law Department. The Secretary reported: 3 new member(s)(Jill M. Gheldof, Scott G. Ivey, Deborah G. Uter, Police Department), 0 reinstatement(s),1 refund(s) 0 transfers and 2 retired. Total active membership: 532. Refunds made since the last regular meeting amounted to: $2,372.61. Retirement allowances paid for the month of June, 1996 amounted to $870,988.04. Total retirement checks printed for the P&F System: 474. Total retirement checks printed for all three systems: 1,057. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Barkyoumb, supported by Trustee Kus to approve the application for regular age and service retirement for Jack P. Sharp, Fire Department, 25 years, 1 month service credits, age 46, effective July 2, 1996 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Lankheet - 7. Nays: None. It was moved by Trustee Kehler, supported by Trustee Lankheet to approve the application for regular age and service retirement for Thomas J. Wilson, Police Department, 26 years 3 months service credits, age 47 effective June 22, 1996. 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 Lankheet to table the conversion from non- duty disability retirement to regular age and service retirement for Armand Brown,Fire Department. Adopted by the following vote: Unanimously. Police & Fire Retirement System Regular Meeting of July 16,1996 Page 2 It was moved by Trustee Barkyoumb,supported by Trustee Kehler to approve the request for refund of accumulated contributions from Matthew L. Wilson, Police Department. Adopted by the following vote: Unanimously. The Board reviewed and discussed the duty disability excess earnings for Frank Elliott. It was moved by Trustee Barkyoumb,supported by Trustee Lankheet to collect the excess earnings of Frank Elliott. Adopted by the following vote: Unanimously. The Board reviewed and discussed the duty disability excess earnings for Richard Burgess and his request to suspend his City pension checks due to his excess earnings he is obligated to pay back. It was moved by Trustee Barkyoumb,supported by Trustee Kus to contact Mr. Burgess an advise that the ordinance, and the State constitution protection provision for pensions, does not allow the employer to suspend benefits. Adopted by the following vote: Unanimously. The Board reviewed the duty disability status report that is being sent to Dr. Cl-dodo for his review. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. Other Business Mr. Dougan informed the Board that in regard to the effective date for James Ballard needed to be adjusted to account for the additional week he was on the payroll. The change would be from July 6,1996 to July 10,1996. It was moved by Trustee Barkyoumb,supported by Trustee Kehler to change James Ballard's retirement effective date from July 6, 1996 to July 10, 1996. Adopted by the following vote: Unanimously. The meeting adjourned at 9:25 a.m. c �'L- Robert W. Swanson, Secretary �t Police & Fire Retirement System Minutes approved on '7-16 James Kus, Vice Chairperson OFFICIAL PROCEEDINGS OF THE BOARV��OF,,T1W- TEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting June 18, 1996 8th Floor Conference Room Tuesday, 8:36 a.m. The Board met in regular session and was called to order by Chairperson Jack Cushman at 8:36 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Hollister, Kehler, Lankheet, Luzynski - 7. Absent: Trustee Kus - 1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division. It was moved by Trustee Barkyoumb,supported by Trustee Lankheet to approve the minutes of the regular meeting of May 14,1996 and the special meeting of May 23, 1996. Adopted by the following vote: Unanimously. The Secretary reported: 2 new member(s)(Richard R. Ballor, Police Department and Gregory K. Martin, Fire Department), 0 reinstatement(s), 0 refund(s) 0 transfers and 4 retired. Total active membership: 532. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of May, 1996 amounted to $863,520.97. Total retirement checks printed for the P&F System: 472. Total retirement checks printed for all three systems: 1,057. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Hollister,supported by Trustee Barkyoumb to approve the application for regular age and service retirement for James W. Ballard, Fire Department, 28 years 5 months service credits, age 51, effective July 6,1996 Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kehler, Lankheet, Luzynski - 7. Nays: None. It was moved by Trustee Luzynski, supported by Trustee Lankheet to approve the application for regular age and service retirement for Richard K. Lewis, Fire Department, 25 years service credits, age 51, effective June 1, 1996. Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides,Cushman, Hollister, Kehler, Lankheet, Luzynski -7. Nays: None. Police & Fire Retirement System Regular Meeting of June 18,1996 Page 2 It was moved by Trustee Hollister, supported by Trustee Lankheet to approve the application for regular age and service retirement for James R. Stampski,Fire Department, 25 years service credits, age 48, effective June 1, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kehler, Lankheet, Luzynski - 7. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to approve the request for refund of accumulated contributions for Duane Fish, Police Department. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to excuse Trustee Kus from the meeting. Adopted by the following vote: Unanimously. Other Business Mr. Rubley gave a report of the review by the subcommittee of the Prefunding of Health Care recommendations provided by the actuary. The subcommittee recommended prefunding the normal cost for health care as actuarially determined. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to approve the recommendation of the subcommittee. This item tabled until July meeting with receipt of report. Mr. Rubley presented a report on fund the international managers. Can achieve 10% funding in international investments in 12 to 18 months without changing cash flows. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet. Adopted by the following vote: Unanimously. The meeting adjourned at 10:08 a.m. $(-Robert W. Swanson, Secretary Police & Fire Retirement System Minutes approved on LY t 1 i James Kus, Vice Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Special Meeting May 23, 1996 Sth Floor Conference Room Thursday, 9:45 a.m. The Board met in a special session and was called to order by Chairperson Jack Cushman at 10:00 a.m. Present: Trustees Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5. Absent: Trustees Benavides, Hollister, Kus -3. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division. The Board reviewed the letter and the Certification of Disability from Dr. Telles regarding Danny E. King. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to grant Danny E. King a duty disability retirement. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Kehler, Lankheet, Luzynski - 5. Nays: None. The meeting adjourned at 10:06 a.m. Minutes approved on g �f�Q Robert W. Swanson, Secretary Police & Fire Retirement System Jac shman, Chairperson I�NSIN .y C FINANCE DEPARTMENT — 1.1 I Y GLER 831 City Hall. 124 W Michigan Ave ,_ Lansing.Michigan 48933 i (517)483-4500 t1 \cHIGP' r David C.Hollister Mayor Robert W.Swanson Director of Finance PUBLIC MEETING NOTICE SPECIAL BOARD MEETING CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM There will be a special meeting of the Police and Fire Retirement System Board of Trustees on Thursday, May 23,1996 at 9:45 a.m. in the 8th Floor Conference Room, on the 8th Floor of City Hall. The Board will meet to discuss a duty disability retirement request. "Equal Opportunity Employer" y�N S I �'G•, FINANCE DEPARTMENT 831 City Hall, 124 W. Michigan Ave 1i Lansing,Michigan 48933 (517)483-4500 P L,�,1i�i �i ✓� Y CLE ' Rii David C.Hollister Mayor Robert W.Swanson Director of Finance PUBLIC MEETING NOTICE JOINT COMMITTEE MEETING CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM AND EMPLOYEES RETIREMENT SYSTEM There will be Joint Police and Fire Retirement System and Employees Retirement System Board meeting held on Thursday, May 23, 1996 at 10:00 a.m. in the 8th Floor Conference Room. The Hannah Group will be present to give the quarterly performance evaluation of the money managers. "Equal Opportunity Employer" OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting May 14, 1996 8th Floor Conference Room Tuesday, 8:33 a.m. The Board met in regular session and was called to order by Chairperson Jack Cushman at 8:33 a.m. Present: Trustees Barkyoumb, Benavides, Cushman, Kehler, Kus, Lankheet, Luzynski - 7. Absent: Trustee Hollister - 1. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan,Budget Division;Alan Sonnanstine,Gabriel, Roeder,Smith&Company;Tom Cochran, I.A.F.F. It was moved by Trustee Hollister, supported by Trustee Barkyoumb that the minutes of the regular meeting of April 16, 1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 6 new member(s)(David Babcock, Ignacio Centeno, Chad Childs, Laurance Heuer, Rose Ortiz, Eric Weber, Fire Department), 0 reinstatement(s), 0 refund(s) 0 transfers and 0 retired. Total active membership: 534. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of April, 1996 amounted to $856,095.11. Total retirement checks printed for the P&F System: 470. Total retirement checks printed for all three systems: 1,054. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Kus, supported by Trustee Lankheet to approve the application for regular age and service retirement from deferred retirement for Phillip F. Kelly, Police Department, 25 years 1 month service credits, age 47, effective May 1, 1996 be approved. Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides, Cushman, Kus, Lankheet, Luzynski-6. Nays: None. Police &Fire Retirement System Regular Meeting of May 14,1996 Page 2 It was moved by Trustee Kus,supported by Trustee Luzynski to approve the application for regular age and service retirement for Burnard J. Elliott, Jr., Fire Department, 28 years 11 months service credits, age 53, effective May 1, 1996 be approved. Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides, Cushman, Kus, Lankheet, Luzynski - 6. Nays: None. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approved the application for regular age and service retirement-conversion from duty disability for James Tycocki, Fire Department, 29 years 6 months service credits, age 51, effective April 4, 1996. Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides, Cushman, Kus, Lankheet, Luzynski- 6. The Board received and placed on file the request to defer retirement for Andrew W. Lawrence. Mr. Dougan informed the Board that Mr. Lawrence has purchased 2 months military service to attain 10 years vesting. He will not qualify for health or dental and he has been so informed. Discussion was held regarding the request for duty disability retirement - Danny King. It was moved by Trustee Kus, supported by Trustee Barkyoumb to defer this item to May 23, 1996 at 9:45 a.m.for a Special Police&Fire Retirement Board meeting. This item to be referred to Dr.Telles along with any previous paperwork on this issue. Adopted by the following vote: Unanimously. Mr. Sonnanstine was present to discuss the report regarding the Prefunding of Health Care. This report includes recommendations as to funding within the current system or in a separate account as well as other issues related to the I.R.C. to ensure the assets are exempt from taxation. Discussion was held. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to send this report to the City Attorney for his recommendation as to the best vehicle for use of these monies. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to authorize the use of securities lending for purpose of outside legal services for review of issues relating to the I.R.C. Adopted by the following vote: Unanimously. It was moved by Trustee Benavides, supported by Trustee Barkyoumb to excuse Trustee Hollister from the meeting. Adopted by the following vote: Unanimously. The Board reviewed the request for refund of accumulated contributions from James L. Ellis. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to approve this request. Adopted by the following vote: Unanimously. Police &Fire Retirement System • Regular Meeting of May 14, 1996 Page 3 Other Business Mr. Rubley informed the Board that he had received a letter from John Hannah announcing the appointment of Peter Brock as the new President of The Hannah Group. The letter indicated that John Hannah is the CEO of The Hannah Group and will retain a strategic role more as an advisor. Peter Brock will be in charge of the day-to-day operations of the firm. Mr. Rubley also informed the Board that Dick Zacarro is in the process of resigning from The Hannah Group to pursue other ventures. There was no report given on the investment of funds. The o e at 10:18 a.m m. Minutes approved on �G q Robert W. Swanson, Secretary Police & Fire Retirement System Jac Cushman, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF'TRUST, CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting April 16, 1996 8th Floor Conference Room Tuesday, 8:34 a.m. The Board met in regular session and was called to order by Chairperson Jack Cushman at 8:34 a.m. Present: Trustees Barkyoumb,Benavides,Cushman,Hollister,Kehler,Kus,Lankheet, Luzynski - 8. Others: Robert Swanson, Finance Operations; Doug Rubley, Finance Operations; Steven Dougan, Budget Division; James Smiertka. Law Department, Mary Ellen Anastor, Finance Operations;Tom Cochran, I.A.F.F. It was moved by Trustee Kus, supported by Trustee Benavides that the minutes of the regular meeting of March 19, 1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 3 new member(s)(Michael Carey, Matthew Krumbaugh, David Silco, Police Department), 0 reinstatement(s), 1 refund(s) 0 transfers and 1 retired. Total active membership: 528. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of March,1996 amounted to $853,974.41. Total retirement checks printed for the P&F System: 469. Total retirement checks printed for all three systems: 1,050. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Discussion was held regarding the Prefunding of Health Care Report by Gabriel, Roeder, Smith & Company. Mr. Sonnanstine has a second report which recommends where the Board should fund health care. It will include recommendations as to funding within the current system or in a separate account as well as other issues related to the I.R.C. to ensure the assets are exempt from taxation. Mr. Rubley stated that the second report was not available for this meeting but that Mr. Sonnanstine will be attending the meeting in May with this report. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to approve the application for regular age and service retirement from deferred retirement for Roy L. Zigler, Fire Department, 15 years 10 months service credits, age 55, effective May 1, 1996. Adopted by the following roll call vote: Yeas: Barkyoumb, Benavides, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 8. Nays: None. Police & Fire Retirement System Regular Meeting of April 16, 1996 Page 2 Discussion was held regarding the fees discussed with the candidate for Medical Director. It was moved by Trustee Lankheet,supported by Trustee Barkyoumb subject to the City Attorney's review and approval that the Board hire Dr. Chioto at $2,500 per case with $500 per month and $300 per hour for trial time beyond 12 hours. Funds to cover this contract to come from Securities Lending. Adopted by the following vote: Unanimously. Discussion was held regarding a letter sent by NBD regarding investment of cash assets for securities lending into the Woodward series of funds. It was moved by Trustee Lankheet, supported by Trustee Benavides to allow investment in the four short-term cash funds. Adopted by the following vote: Unanimously. Discussion was held regarding the international money manager search subcommittee report. Mr. Rubley reported that the subcommittee has recommended the two firms of Harding and Walter Scott. It was moved by Trustee Barkyoumb,supported by Trustee Hollister to accept the committees report to hire pending review by the City Attorney and The Hannah Group. Adopted by the following vote: Unanimously. Other Business Discussion was held regarding the firm of Berwyn. This firm, based on social security number, will do a cross check to see if any current retirees are deceased. Results from this cross check would be kept confidential. The cost to do this cross check is $725 which will be split between both retirement systems. It was moved by Trustee Kus, supported by Trustee Kehler to contract with the Berwyn Group contingent with approval by the Employee's Retirement Board. The cost to be paid from security lending. Adopted by the following vote: Unanimously. Discussion was held regarding Lugnut Tickets provided by The Hannah Group. Mr.Swanson stated that Mr. Smiertka, Mr. Rubley and himself could bring back a recommendation to the Board. Mr. Rubley gave an overview of the performance of the fund managers. The meeting adjourned at 9:55 a.m. ki Minutes approved on/ �` ��1 Robert W. Swanson, Secretary Police & Fire Retirement System JacV Cushman, Chairperson Li: ,_} OFFICIAL PROCEEVI :, S OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting March 19, 1996 8th Floor Conference Room Tuesday, 8:35 a.m. 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, Kehler, Kus, Lankheet, Luzynski - 7. Absent: Trustee Benavides - 1. Others: Doug Rubley,Finance Operations;Steven Dougan,Budget Division;Alan Sonnanstine, Gabriel, Roeder, Smith & Company. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the minutes of the regular meeting of February 20, 1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s), 0 refund(s) 0 transfers and 2 retired. Total active membership: 527. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of February, 1996 amounted to $850,511.80. Total retirement checks printed for the P&F System: 469. Total retirement checks printed for all three systems: 1,052. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Discussion was held regarding the application for regular age and service retirement from deferred for Roy L. Zigler. Trustee Hollister moved to table this application until the April meeting in accordance with the Police & Fire Retirement System Ordinance. It was moved by Trustee Hollister, supported by Trustee Luzynski to approve the application for regular age and service retirement for Dennis M. Shaw, Police Department, 25 years service credits, age 47, effective March 7, 1996, Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6. Nays: None. Discussion was held regarding the MAPERS 1996 Spring Conference. Trustee Cushman asked that anyone interested in attending should contact Teri Cook within the week. olice &Fire Retirement System Regular Meeting of March 19, 1996 Page 2 It was moved by Trustee Luzynski, supported by Trustee Barkyoumb to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. Other Business Mr. Rubley passed out the agenda for the March 17,1996 meeting for interviews with potential money managers for international investments. Ms. Mary Ellen Anastor, Senior Buyer, joined the meeting to discuss the medical director selection with the Board. It was moved by Trustee Barkyoumb, supported by Trustee Kus to seek the doctor's review of cost per review with or without a small retainer to get away from the retainer basis for the whole year. Adopted by the following vote: Unanimously. Mr. Sonnanstine was present to give a presentation on the prefunding of health care report. Discussion was held. This item was tabled. Mr. Sonnantine will be present at a future meeting to present funding strategies. The meeting adjourned at 11:20 a.m. I 21i) Minutes approved o 3 -Y/ 9 Robert W. Swanson, Secretary Police & Fire Retirement System k Cushman, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF ` 1 RUST S CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting March 19, 1996 8th Floor Conference Room Tuesday, 8:35 a.m. 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, Kehler, Kus, Lankheet, Luzynski- 7. Absent: Trustee Benavides- 1. Others: Doug Rubley,Finance Operations;Steven Dougan,Budget Division;Alan Sonnanstine, Gabriel, Roeder, Smith & Company. It was moved by Trustee Barkyoumb, supported by Trustee Kus that the minutes of the regular meeting of February 20, 1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s), 0 refund(s) 0 transfers and 2 retired. Total active membership: 527. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of February, 1996 amounted to $850,511.80. Total retirement checks printed for the P&F System: 469. Total retirement checks printed for all three systems: 1,052. Domestic relations orders received:0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Discussion was held regarding the application for regular age and service retirement from deferred for Roy L. Zigler. Trustee Hollister moved to table this application until the April meeting in accordance with the Police &Fire Retirement System Ordinance. It was moved by Trustee Hollister, supported by Trustee Luzynski to approve the application for regular age and service retirement for Dennis M. Shaw, Police Department, 25 years service credits, age 47, effective March 7, 1996. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kus, Lankheet, Luzynski - 6. Nays: None. Discussion was held regarding the MAPERS 1996 Spring Conference. Trustee Cushman asked that anyone interested in attending should contact Teri Cook within the week. Police &Fire Retirement System Regular Meeting of March 19,1996 Page 2 It was moved by Trustee Luzynski, supported by Trustee Barkyoumb to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. Other Business Mr. Rubley passed out the agenda for the March 17,1996 meeting for interviews with potential money managers for international investments. Ms. Mary Ellen Anastor, Senior Buyer,joined the meeting to discuss the medical director selection with the Board. It was moved by Trustee Barkyoumb, supported by Trustee Kus to seek the doctor's review of cost per review with or without a small retainer to get away from the retainer basis for the whole year. Adopted by the following vote: Unanimously. Mr. Sonnanstine was present to give a presentation on the prefunding of health care report. Discussion was held. This item was tabled. Mr. Sonnantine will be present at a future meeting to present funding strategies. The meeting adjourned at 11:20 a.m. Minutes approved on Robert W. Swanson,Secretary Police & Fire Retirement System Jack Cushman, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD O TI USTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting February 20, 1996 8th Floor Conference Room Tuesday, 8:38 a.m. The Board met in regular session and was called to order by Vice Chairperson Jim Kus at 8:38 a.m. Present: Trustees Barkyoumb, Benavides, Hollister, Kehler, Kus, Lankheet, Luzynski - 7. Absent: Trustees Cushman-1. Others: Robert Swanson, Secretary; Doug Rubley, Finance Operations; Steven Dougan, Budget Division;James Smiertka, Law Department. It was moved by Trustee Lankheet, supported by Trustee Barkyoumb that the minutes of the regular meeting of January 16, 1996 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s),2 refund(s) 0 transfers and 2 retired. Total active membership: 529. Refunds made since the last regular meeting amounted to: $1,588.36. Retirement allowances paid for the month of January, 1996 amounted to $845,499.38. Total retirement checks printed for the P&F System: 468. Total retirement checks printed for all three systems: 1,053. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. Trustee Luzynski gave an update on the international money manager search. A meeting has been setup for March 20, 1996 to hold interviews of the potential money managers for international investments. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to interview Smith Barney, Bank of Ireland, Walter Scott and the Brandis Firm. Adopted by the following vote: Unanimously. Discussion was held regarding non-economic assumptions given to the Board provided by the Actuary. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to move toward Actuary's assumptions, based on the City's ability to fund. Adopted by the following vote: Unanimously. Police &Fire Retirement System Regular Meeting of February 20,1996 Page 2 It was moved by Trustee Luzynski,supported by Trustee Hollister to excuse Trustee Cushman from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Kus gave an update on the search for a Medical Director. Four RFQs were received and reviewed and it was the recommendation to bring in two candidates, Dr. Chiato and Dr. Wiegenstein for interviews. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to have the committee interview Dr. Chiato and Dr. Wiegenstein. Adopted by the following vote: Unanimously. Mr. Rubley informed the Board that he had received the letter from NBD confirming that they will no longer be charging the Police &Fire Retirement System Trust and the Employees Retirement System Trust for cash management services. This results in a reduction in fees of approximately $20,000 to both retirement systems. The Board reviewed a request for refund of accumulated contributions from Keli K. Ryther, Fire Department. It was moved by Trustee Barkyoumb, supported by Trustee Kehler to approve. Adopted by the following vote: Unanimously. Discussion was held regarding the retirement eligibility of a retired police officer. The Board referred this item to the City Attorney. Mr. Rubley gave an overview of the performance of the fund managers. The eeting djo ned at 9:15 a.m. Minutes approved onl?P q,cp Robert W. Swanson,Secretary Police &Fire Retirement System Jack ushman, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING r' ri POLICE & FIRE RETIREMENT SYSTEM Regular Meeting January 16,1996 8th Floor Conference Room Tuesday, 8:35 a.m. 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,Kehler,Kus,Lankheet,Luzynski- 7. Absent: Trustees Benavides-1. Others: Robert Swanson, Secretary; Doug Rubley, Finance Operations; Steven Dougan, Budget Division and Tom Cochran, I.A.F.F. It was moved by Trustee Barkyoumb,supported by Trustee Luzynski that the minutes of the regular meeting of December 19,1995 be approved. Adopted by the following vote: Unanimously. The Secretary reported: 6 new member(s), (Paul Beasinger, Jerry Blow, Jr., Adam Diehl, Amanda Cordell, James Ellis, Brian S. Whitsitt, Police Department) 0 reinstatement(s), 1 refund(s) 0 transfers and 1 retired. Total active membership: 532. Refunds made since the last regular meeting amounted to: $832.80. Retirement allowances paid for the month of December, 1995 amounted to $827,755.48. Total retirement checks printed for the P&F System: 465. Total retirement checks printed for all three systems: 1,048. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve the request for refund of accumulated contributions for Anthony Haeck and Jannette Richmond, Police Department. Adopted by the following vote: Unanimously It was moved by Trustee Luzynski, supported by Trustee Hollister that the application for regular age and service retirement for Craig R. DeSonia, Police Department, 25 years 3 months service credits, age 48, effective January 1, 1996 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski- 7. Nays: None. Police & Fire Retirement System Regular Meeting of January 16,1996 Page 2 It was moved by Trustee Kus, supported by Trustee Kehler that the application for regular age and service retirement for Fred L. Pratt, Fire Department, 27 years 11 months service credits, age 52, effective January 6, 1996 be approved. Adopted by the following roll call: Yeas: Barkyoumb, Cushman, Hollister, Kehler, Kus, Lankheet, Luzynski - 7. Nays: None. Mr. Rubley updated the Board on his meeting with National Bank of Detroit (NBD). NBD will be changing how they bill us. There will be one item that they will no longer charge us. The Board will see the fees reduced about 8%. NBD will be sending a letter outlining this change. Mr. Rubley informed the Board of a conference, presented by Paine Webber, regarding commission recapture on Thursday, February 22, 1996 in Grand Rapids. Mr. Rubley asked that if anyone was interested to let him know. It was moved by Trustee Luzynski, supported by Trustee Barkyoumb to excuse Trustee Benavides. Adopted by the following vote: Unanimously. Mr. Rubley gave an overview of the performance of the fund managers. T ting 'd' rned at 9:03 a.m. Mi utes approv d on C ZO Robert W. Swanson, Secretary Police &Fire Retirement System �'z �Ik Cushma , Chairperson