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HomeMy WebLinkAbout1997 mins Police and Fire Retirement System FINAL Police & Fire Retirement Board Regular Meeting of November 18, 1997 page 2 It was announced by Trustee Luzynski that Trustee Barkyoumb resigned from the Retirement Board due to his recent employment with the City of Lansing. Trustee Hollister mentioned that if any Board members had a recommendation for a replacement they should contact Bob Swanson for referral to the Mayors Office. Doug Rubley gave the investment report. A letter will be drafted concerning The Hannah Group contract modifications stating that we concur and no further action is required. Doug Rubley informed the Board that the Request for Proposals for the Investment Consultants was mailed to 43 firms and responses are due January 8, 1998. A subgroup was formed to review the proposals, and will meet after January 8th to discuss the procedures. It was moved by Trustee Lankheet supported by Trustee Benavides that the cost of membership for the International Foundation of Employee Benefit Plans will be shared with the Employees Retirement Board Approved by the following vote: Unanimously. The meeting adjou ed at 9:15 a.m. Minutes approved on Z'� ' 97 Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chairp n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE &- FIRE RETIREMENT SYSTEM Regular Meeting DeF€ml�.�& 16, 1997 8th Floor Conference Room Tu(daj��8:3{ a.m. City Hall, Lansing, MI The Board met in regular session and was called to order at 9;00 a.m. N G� Present: Trustees Cochran, Hollister, Lanlcheet, Luzynsld, Rhode - S. w Absent: Trustee Benavides, Holliday - 2. Others: Robert Swanson, Meriane Schuiling, Doug Rubley, Finance Operations; Margaret Vrornan, Jack Jordan, Law Department. It was moved by Trustee Luzynski supported by Trustee Rhode to approve the minutes of the regular meeting of November 18, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 2 refund(s) 0 transfers and 0 retired. Total active membership: 553. Refunds made since the last regular meeting amounted to: $946.75. Retirement allowances paid for the month of November, 1997 amounted to $970,383.35. Total retirement checks printed for the P&F System: 494. Total retirement checks printed for all three systems: 1,096. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Lanlcheet and supported by Trustee Hollister to approve the application for regular age and service retirement for David Sinclair of the Police Department age 58 with 35 years 7 months service credits effective January 8, 1998. Adopted by the following roll call: Yeas: Cochran, Hollister, Lanlcheet, Luzy_ nski, Rhode. Nays: None. It was moved by Trustee Hollister and supported by Trustee Lankheet to approve the application for regular age and service retirement for Jeffrey A. Smith of the Police Department age 45 with 25 years service credits, effective January 22, 1998. Adopted by the following roll call: Yeas: Cochran, Hollister, Lankheet, Luzynski, Rhode. Nays: None. Police & Fire Retirement Board Regular Meeting of December 16,1997 page 2 It was moved by Trustee Cochran supported by Trustee Lankheet to excuse Trustee Benavides and Trustee Holliday from the meeting. Approved by the following vote: Unanimously. It was moved by Trustee Cochran and supported by Trustee Hollister to approve the schedule of meeting dates for calendar year 1998 for both retirement boards. Adopted by the following vote: Unanimously. Doug Rubley gave the investment report. a i .t 1--n�1 A motion was made by Trustee Hollister and supported by Trustee Rhode to transfer$41.944-iottsend from the equity managers. Adopted by the following vote: Unanimously. It was suggested by Trustee Luzynski that a letter of appreciation and plaque be presented to Bill Barkyoumb for serving on the board. Trustee Cochran will look into the purchase of the plaque and get back with the retirement board at the next meeting. The meeting adjourned at 9:20 a.m. Min approved n Robert W. Swanson, Secretary Police &Fire Retirement System Paul uzynski, Ch'a son OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting November 18, 1997 8th Floor Conference Room Tuesday, 8:30 a.m. City Hall, Lansing, MI The Board met in regular session and was called to order at 8:35 a,m. c> Present: Trustees Benavides, Cochran, Hollister, Lankheet, Luzynski, Rhode — 6. — Absent: Trustee Holliday — 1. M � x w Others: Robert Swanson, Meriane Schuiling, Doug Rubley, Finance Operations; Margaret Vroman, Jack Jordan, Law Department. L4►.kAerP It was moved by Trustee Cochran supported-by Trustee 4&kyedmi7-to approve the minutes of the regular meeting of October 21, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 2 refund(s) 0 transfers and 1 retired. Total active membership: 553, Refunds made since the last regular meeting amounted to: $1580,74. Retirement allowances paid for the month of October, 1997 amounted to $970,454.70. Total retirement checks printed for the P&P System: 494. Total retirement checks printed for all three systems: 1,094, Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Luzynski to approve the Request for Refund of Accumulated Contributions for Kevin E. McCumby and Lynn M. Blanchette of the Police Department. Approved by the following vote: Unanimously. It was moved by Trustee Cochran supported by Trustee Luzynski to excuse Trustee Holliday from the meeting. Approved by the following vote: Unanimously. It was moved by Trustee Cochran supported by Trustee Lankheet to refer the request for duty disability for Tim Poxson of the Police Department to the Attorneys Office. Approved by the following vote: Unanimously. Doug Rubley informed the Board that the scheduled presentation of the Actuarial Report Year End by Alan Sonnanstine will be given at the December meeting. Copies of the reports will be forwarded to the Board members for review as soon as they are available. OFFICIAL PROCEEDINGS OF THE BOARD Or TRUSTEES CITY OF LANSING ----- - --- - -- -POLICE & FIRE-RETIRE,E,MENT SYSTEM- - ----_ _ Regular Meeting October 21, 1997 8th Floor Conference Room Tuesday, 8:30 a.m. City Hall Lansing, MI The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Holliday, Hollister, Lankheet, Luzynski, — 7. Absent: Trustee Rhode — 1. Others: Robert Swanson, Meriane Schuiling, Doug Rubley, Finance Operations; Margaret Vroman, Jack Jordan, Law Department. It was moved by Trustee Cochran supported by Trustee Barkyoumb to approve the minutes of the regular - meeting.of September. 16, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 553, Refunds made since the last regular meeting amounted to: $0.0. Retirement allowances paid for the month of September 1997 amounted to $952,087.53. Total retirement checks printed for the P&F System: 488. Total retirement checks printed for system: 1,086. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Barkyoumb to approve the,Request for Refund of Accumulated Contributions for Jamie J. Walker, Police Department, and Laurance M. Heuer of the Fire Department. Adopted by the following roll call: Yeas: Barkyoumb, Cochran, Holliday, Lankheet, Luzynski — 5. Nays: None. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the application 'for regular age & service retirement for Clarence Griggs, Fire Department 29 years 8 months service credits, age 52, effective October 11, 1997. Adopted by the following roll call.- Yeas: Barkyoumb, Cochran, Holliday, Lankheet, Luzynski — 5r Nays: None. It was moved by Trustee Barkyoumb supported by Trustee Lankheet to excuse Trustee Rhode-Tfrom the meeting. Approved by the following vote: Unanimously. ,(as moved by Trustee Barkyoumo supported by Trustee Cochran to appi„re the signing of the consent fetter for the transfer of control of ANB IMC to Northern Trust Corporation. Approved by the following vote: Unanimously. Doug Rubley gave investment report to Board Members. The review board for the RFP for Investment Consultants will be Trustee Lankheet, Trustee Luzynski and Trustee Cochran. The meeting adjourned at 9:40 a.m. Minutes a oved on �, Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynsk4ActingCrson -- CITY OF LANSING rr; ; 7 : 7 POLICE AND FIRE RETIREMENT SY�''E ,10 CITY CLERK AGENDA Regular Meeting October 21, 1997 8th Floor Conference Room Tuesday, 8:30 a.m. City Hall Lansing, MI 1. Call to Order. 2. Roll Call — Trustees Barkyoumb, Benavides, Cochran, Hollister, Kus, Lankheet, Luzynski, Rhode — 8. 3. Reading of the Minutes of the Regular Meeting of September 16, 1997, 4. Public Comments for Items on the Agenda. 5. Secretary's Report. 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 553. Refunds made since the last regular meeting amounted to: $0.0 Retirement allowances paid for the month of September 1997 amounted to $952,087.53. Total retirement checks printed for the P&F System: 488. Total retirement checks printed for systems: 1,086. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. 6. Request for Refund of Accumulated Contributions: Jamie J. walker, Police Department Laurance M. Heuer, Fire Department 7. Excusing of Board Members. 8. Other Business. Trustee Rubley received a letter from ANB IMC to the City of Lansing Retirement Systems requesting their consent to the transfer of control of ANB IMC to Northern Trust Corporation. The Certification of Annual Earnings for Reynaldo Gonzalez was received by the Retirement office. The dates for the election for the two open positions on the Police & Fire Retirement Board are as follows: The completed petitions are due in the Retirement Office on October 20, 1997. The Primary Election if necessary is to be held October 27 through October 31, 1997, with the General Election to be held November 10 through November 13, 1997. 10. Investment of Funds. 11. Public Comments for Items not on the Agenda. 12. Pending Item(s): a. The Hannah Group - Contract Modifications. b. Retirement Seminars - Tentative date November 12, 1997. C. RFP for investment consultants. OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting September 16, 1997 loth Floor Conference Room Tuesday, 8:30 a.m. City Hall Lansing, MI The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6. Absent: Trustees Cochran, Hollister - 2. Others: Robert Swanson, Meriane Schuiling, Finance Operations; Jack Jordan, Law Department. It was moved by Trustee Barkyoumb supported by-Trustee Benavides to approve the minutes of the regular meeting of August 19, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 4 new member(s)(Lynn M Blanchette, Jodi L Williams, Robert L Tucker, Dylan R Zehr all Police Department) , 0 reinstatement(s), 0 refund(s) 0 transfers and I retired. Total active membership: 553. Refunds made since the last regular meeting amounted to: $16,743.08. Retirement allowances paid for the month of August, 1997 amounted to $949,104.70. Total retirement checks printed for the P&F System: 487. Total retirement checks printed for system: 1,085. 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 Barkyoumb to approve the application for regular age and service retirement for Thomas F. Stornant Jr., Police Department, 25 years service credits, age 45, effective October 1, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6. Nays: None. It was moved by Trustee Barkyoumb supported by Trustee Lankheet to approve the application for regular age and service retirement for Randall E. Jones, Police Department 25 years, age 45 years, effective October 2, 1997 Adopted by the following roll call: F- Yeas: Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6 Nays: None. ` j .� m .. �J It was moved by Trustee Lankheet supported by Trustee Barkyoumb to approve the application for regular age and service retirement for Richard Holm, Police Department, 25 years service credit, age 45 years, effective October 1, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6 Nays: None. It was moved by Trustee Lankheet supported by Trustee Baryoumb to approve the application for regular age and service retirement for James Kus, Police Department, 26 years service credits, age 46 years, effective October 1, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Lankheet, Luzynski, Rhode - 5 Nays: None. It was moved by Trustee Barkyoumb supported by Trustee Benavides to approve the application for regular age and service retirement for Michael Debnar, 25 years service credits, age 50 years, effective October 2, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6 Nays: None. It was moved by N'stee 'Barkyoumb supported by Trustee Lankheet to approve the request for Duty Disability for Doyal Little, Police Department effective September 17, 1997 8:00 a.m. Adopted by the following roll call.- Yeas: Barkyoumb, Benavides, Kus, Lankheet, Luzynski, Rhode - 6 Nays: None. It was moved by Trustee Barkyoumb and supported to excuse Trustees Cochran and Hollister from the meeting. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb and supported by Trustee Luzynski to approve the request from Harbor Capitol Management concerning their partnership with Generale Bank (Belgium) and Fimagest (France), pending review and approval by the City Attorney and the Hannah Consulting Group. Adopted by the following vote: Unanimously. It was moved by Trustee Benavides and supported by Trustee Barkyoumb that Trustee Paul Luzynski be moved from vice chair to chairman to fill the vacancy caused by the retirement of James Kus. Adopted by the following vote: Unanimously It was moved by Trustee Benavides and supported by Trustee Luzynski that Trustee Lankheet become the Vice Chairman. Adopted by the following vote: Unanimously. It was moved by Trustee Barkyoumb and supported by Trustee Rhode to approve the extension of the services of Gabriel Roeder including the increase in fees. It was moved by Trustee Barkyoumb and supported by Trustee Luzynski that the medical invoices for Burgess and Isaac be paid from the Securities Lending Account.. It was moved by Trustee Barkyoumb and supported by Trustee Luzynski that the bill from Dr. Chiodo for the Duty Disability evaluation for Doyal Little be paid from the Securities Lending Account. The meeting adjour d at 9A5 a.m. Minut pproved on` o Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Acting irperson yPN SIC cHIGP Office of City Clerk Marilynn Slade City of Lansing City Clerk TO: Teri Cook, Finance Department FROM: Dixie Gilmore, City Clerk' s Office DATE : November 25, 1997 SUBJECT: 1997 Police & Fire Retirement Board Minutes A review of our records indicates the following board minutes are not on file in the Clerks' s Office : 9-1G & 10-21 The last board minutes placed on file with our office were for the meeting of 8-19 . Would you please either provide the missing minutes or advise us of their status? Thank you for your cooperation in bringing this file up to date . /dlg Ninth Floor, City Hall, 124 W. Michigan Ave., Lansing, MI 48933-1695 • 517-483-4131 517-377-0068 FAX OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES_ ,. CITY OF LANSING { 0 POLICE & FIRE RETIREMENT SYSTEM' LANISENO CITY CLERK Regular Meeting August 19, 1997 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 Kus at 8:40 a.m. Present: Trustees Barkyoumb, Cochran, Kus, Lankheet, Luzynski, Rhode - 6. Absent: Trustees Benavides, Hollister - 2. Others: Robert Swanson, Meriane Schuiling, Doug Rubley, Finance Operations, Jack Jordan, Law Department. It was moved by Trustee Barkyoumb supported by Trustee Cochran to approve the minutes of the regular meeting of July 15, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 6 new member(s)(Jannelle M. Berry, Brent A. Erk, Michael B. Schulte, Jeffrey T. Winarski, Jamie J. Walker, Kevin E. McCumby all Police Department) , 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 549. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of July, 1997 amounted to $943,815.73. Total retirement checks printed for the P&F System: 487. Total retirement checks printed for system: 1,078. Domestic relations .orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran, supported by Trustee Barkyoumb to approve the application for conversion to regular age and service retirement from duty disability for John Crafton, Fire Department, 23 years 8 � months service credits, age 52, effective August 1, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Cochran, Kus, Lankheet, Luzynski, Rhode - 6. Nays: None. It was moved by Trustee Barkyoumb supported by Trustee Lankheet to approve a request for refund of accumulated contributions for Robert William Kamphouse, Police Department. Adopted by the following vote: Unanimously _'%;e & Fire Retirement System Regular Meeting of August 19, 1997 Page 2 It was moved by Trustee Lankheet supported by Trustee Kus to approve a request for refund of accumulated contributions for April Norwood, Police Department. Adopted by the following vote: Unanimously The Board requested that communication be sent to Reynaldo Gonzalez along with his paycheck by certified mail requesting his Duty Disability earnings report. The previous communication was returned as unclaimed. It was moved by Trustee Luzynski and supported by Trustee Barkyoumb to excuse Trustees Benavides and Hollister from the meeting. Adopted by the following vote: Unanimously. Other Business Discussion was held regarding the MAPERS conference. Mr. Swanson informed the board that no information had yet been received from MAPERS, but the tentative dates were September 21-23, and anyone who was interested in attending the conference should contact Meriane Schuiling in the Retirement Office. The board reviewed a letter from Tom Vasilion regarding his pension adjustment. The letter stated that Mr. Vasilion did not believe that he was adequately compensated for overtime by the City, That the Retirement board had the authority to settle this matter, and that he could bring suit against the City to compensate him and restore his pension to its greater value. It was moved by Trustee Cochran and a,, uppoFte4 by-TPatee a '-supported by Trustee Barkyoumb that the City Attorney respond to Mr. Vasilion's letter. Adopted by the following vote: Unanimously It was moved by Trustee Luzynski and supported by Trustee Lankheet to begin the recoupment of the overpayment to Tom Vasilion with the September 30th pension check, and to continue to do so for the same period of time in which the overpayment occurred. Adopted by the following vote: Unanimously Mr. Swanson informed the board that the City Attorneys Office received a new lawsuit against the city and theYAetirement Board from Jim Blair concerning Early Retirement. 05 The Request for Duty Disability Retirement for Doyal Little has been referred to the Medical Director. Trustee Rubley gave an overview of the performance of the investment managers. The meeting adjo ned at 9:30 a.m. Min Les approved on�"��' 9 Robert W. Swanson, Secretary Police & Fire Retirement System .la ac llnc f'hai nPrenn OFFICIAL PROCEEDINGS OF THE BOARD OF TRUST�� sr,,:_ CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEq 2 'R`' Ob ANSiG cli cLE RK Regular Meeting July 15, 1997 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 Kus at 8:40 a.m. Present: Trustees Barkyoumb, Cochran, Kus, Lankheet, Luzynski, Rhode - 6. Absent: Trustees Benavides, Hollister - 2. Others: Robert Swanson, Steve Dougan, Doug Rubley, Finance Operations; Jack Jordan, Law Department; Tom Vasilion:: ` It was moved by Trustee Barkyoumb supported by Trustee Luzynski to approve the minutes of the regular meeting of June 17, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 10 new member(s)(Jason Russell, Police; James Harrington, Andrew Johnson Jr., Gina Lee, John Lindsey, Mark Nicholson, Anthony Phillips, Mark Santos, Connie Summer, Amanda Thelen, all Fire Department) , 0 reinstatement(s), 1 refund(s) 0 transfers and 0 retired. Total active membership: 543. Refunds made since the last regular meeting amounted to: $6,584.05. Retirement allowances paid for the month of May, 1997 amounted to $940,221.66. Total retirement checks printed for the P&F System: 485. Total retirement checks printed for system: 1,075. 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 Luzynski to approve the application for regular age and service retirement for Jerome G. Boles 11, Police Department, 29 years 1 months service credits, age 51, effective July 26, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Cochran, Kus, Lankheet, Luzynski, Rhode - 6. Nays: None. The Board reviewed a request for refund of accumulated contributions from John Hunnel, Christopher Shacka, and Steve Stafford. It was moved by Trustee Barkyoumb, supported by Trustee Luzynski to approve these requests. Adopted by the following vote: Unanimously The Board reviewed a Duty Disability Earnings Report for Rodney W. Hunt. I was moved by Trustee Barkyoumb, Supported by Trustee Cochran to approve the adjustment as submitted.. Adnnfpd by the followinu vote- tlnanimnnsly Police & Fire Retirement System Regular Meeting of June 17, 1997 Page 2 It was moved by Trustee Barkyoumb and supported to excuse Trustees Benavides and Hollister from the meeting. Adopted by the following vote: Unanimously. The Board requested that communication be sent to Reynaldo Gonzalez by certified mail regarding Duty Disability earnings report. Other Business Trustee Luzynski presented the board with the criteria for out-of-state conferences. The Board agreed to refer all Duty Disability Requests to the Medical Director upon receipt. The meeting adjourned at 9:40 a.m. Minutes approved on 12 9 7 Robert W. Swanson, Secretary Police & Fire Retirement System J es Kus, Ch rperson E OFFICIAL PROCEEDINGS OF THE BOARD OETRUSTEES CITY OF LANSING L;- .i ► ;lj CITY CLER!" POLICE & FIRE RETIREMENT SYSTEM Regular Meeting June 17, 1997 8th Floor Conference Room Tuesday, 8:43 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Kus at 8:43 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Kus, Lankheet, Luzynski, Rhode - 7. Absent: Trustees Cochran, Kus, Rhode -3., Others: Robert Swanson, Doug Rubley,Teri Cook, Finance Operations;James Smiertka,Jack Jordan, Law Department. It was moved by Trustee Barkyoumb supported by Trustee Hollister to approve the minutes of the regular meeting of May 22, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 6 new member(s)(Michellel Burkhardt, Daryl Green, Michael Lam, Mark McAleer, Matthew Suchoski, Raphael Wall, Police Department) , 0 reinstatement(s), 0 refund(s) 0 transfers and 3 retired. Total active membership: 534. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of May, 1997 amounted to $936,196.35. Total retirement checks printed for the P&F System:484. Total retirement checks printed for system: 1,072. 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 Oleniczak, Fire Department, 28 years 9 months service credits, age 57, effective July 9, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Hollister, Lankheet, Luzynski-5. Nays: None. The Board reviewed a Council resolution and a draft of a memorandum responding to the resolution regarding local investment. Discussion was held. It was moved by Trustee Benavides, supported by Trustee Lankheet to send the memorandum to Council President Beal and Council Members regarding Council resolution on local investment. Adopted by the following vote: Unanimously. Police & Fire Retirement System Regular Meeting of June 17,1997 Page 2 Mr. Swanson gave an overview of the duty disability earnings report prepared by Mr. Dougan. There were three individuals who need adjustments Frank Elliott, Richard Burgess and Rodney Hunt. It was moved by Trustee Barkyoumb,supported by Trustee Hollister to make the adjustments for these individuals. Adopted by the following vote: Unanimously. Discussion was held regarding the use of securities lending for board members for education. Discussion was held. It was moved by Trustee Barkyoumb,supported by Trustee Hollister to have the retirement staff draft a policy for travel out-of-state conferences and education and training and the use of securities lending. Adopted by the following vote: Unanimously. It was moved by Trustee Luzynski,supported by Trustee Hollister to excuse Trustees Cochran, Kus and Rhode from the meeting. Adopted by the following vote: Unanimously. Other Business The Board reviewed a request for refund of accumulated contributions from Mark T. Renshaw. It was moved by Trustee Barkyoumb,supported by Trustee Hollister to approve this request. Adopted by the following vote: Unanimously. The meeting adjo ed at 9:26 a.m. Minutes approved on 7-1s-97 Robert W. Swanson,Secretary Police &Fire Retirement System J es Kus, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD S TR4K.EES CITY OF LANSING I-AirIs;€ U CITY CLERK POLICE & FIRE RETIREMENT SYSTEM Regular Meeting May 22, 1997 8th Floor Conference Room Thursday, 11:25 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Kus at 11:25 a.m. Present: Trustees Barkyoumb, Benavides,Cochran,Kus, Lankheet, Luzynski, Rhode - 7. Absent: Trustee Hollister -1. Others: Robert Swanson, Doug Rubley,Steve Dougan, Finance Operations;Jack Jordan, Law Department; Lisa Estlund Olson, Mayor's Office. It was moved by Trustee Barkyoumb supported by Trustee Lankheet to approve the minutes of the regular meeting of April 15, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 531. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of April,1997 amounted to$928,659.06. Total retirement checks printed for the P&F System:483. Total retirement checks printed for system: 1,069 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 Steven A. Blake,Police Department, 25 years 4 months service credits, age 46, effective May 3, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet,Rhode - 6. Nays: None. It was moved by Trustee Cochran, supported by Trustee Barkyoumb to approve the application for regular age and service retirement for Lawrence E. Hufnagel, Fire Department, 28 years 3 months service credits, age 54, effective April 20, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet,Rhode - 6. Nays: None. Police &Fire Retirement System Regular Meeting of May 22,1997 Page 2 It was moved by Trustee Lankheet,supported by Trustee Barkyoumb to approve the application for regular age and service retirement for Mark W.Wilson,Police Department,25 years 2 months service credits, age 45, effective May 10, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet, Rhode - 6. Nays: None. The Board reviewed the medical evaluation for Joseph Golden. Discussion was held. It was moved by Trustee Benavides, supported by Trustee Lankheet to approve the request for duty disability retirement for Joseph Golden, effective May 28, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet, Rhode - 6. Nays: None. The Board reviewed a letter from Cornelius V. Robinson requesting to defer his retirement. It was moved by Trustee Benavides,supported by Trustee Lankheet that this letter be received and placed on file. Adopted by the following vote: Unanimously. The Board received the Investment Policy for the Police and Fire Retirement System. It was moved by Trustee Barkyoumb,supported by Trustee Lankheet to adopt this investment policy effective May 99, 1997. Adopted by the following vote: Unanimously. It was moved by Trustee Cochran,supported by Trustee Barkyoumb to excuse Trustee Hollister from the meeting. Adopted by the following vote: Unanimously. The ling adj urne t 12:05 p.m. Minutes approved on 6/7- � Robert W. Swanson, Secretary Police &Fire Retirement System James Kus, Chairper o vyGe 641, 1qP.-sow OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTELS CITY OF LANSING LANIRNG CITY CLERK POLICE & FIRE RETIREMENT SYSTEM Regular Meeting April 15, 1997 8th Floor Conference Room Tuesday, 8:45 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Kus at 8:45 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Kus, Lankheet, Luzynski, Rubley - 6. Absent: Trustee Hollister -1. Others: Robert Swanson, Steve Dougan, Finance Operations; James Smiertka, Law Department; Tom Vasilion. It was moved by Trustee Barkyoumb supported by Trustee Lankheet to approve the minutes of the regular meeting of April 15, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s), 1 refund(s) 0 transfers and 4 retired. Total active membership: 532. Refunds made since the last regular meeting amounted to: $597.31. Retirement allowances paid for the month of March,1997 amounted to$917,464.26. Total retirement checks printed for the P&F System:483. Total retirement checks printed for all three systems: 1,066 Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran,supported by Trustee Barkyoumb to approve the application for regular age and service retirement for Robert N. Kelly,Fire Department,32 years 9 months service credits, age 56, effective March 29, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Benavides, Cochran, Kus, Lankheet -5. Nays: None. The Board reviewed requests for duty disability retirement for Joseph Golden and Doyle Little, Police Department. It was moved by Trustee Benavides, supported by Trustee Barkyoumb to refer these requests to Dr. Chiodo. Adopted by the following vote: Unanimously. Police &Fire Retirement System Regular Meeting of April 15,1997 Page 2 The Board reviewed a letter regarding pension adjustment for Tom Vasilion. It was moved by Trustee Lankheet, supported by Trustee Benavides to table this item. Adopted by the following vote: Unanimously. It was moved by Trustee Benavides,supported by Trustee Cochran to excuse Trustee Hollister from the meeting. Adopted by the following vote: Unanimously. The eting adjo ned at 9:30 a.m. Minutes approved on 7)1&y z-t,IM Robert W. Swanson,Secretary Police&Fire Retirement System mes Kus, Chairperson 'tA S FINANCE DEPARTMENT 831 City Hall,124 W.Michigan Ave. Lansing,Michigan 48933 E C E WE�} (517)483-4500 9*71`1AY 15 AM 10: 10 r c I LANSING CITY CLERK H David C.Hollister Mayor Robert W.Swanson Director of Finance PUBLIC MEETING NOTICE SPECIAL BOARD MEETING CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Due to a lack of a quorum on May 13, 1997, the Police & Fire Retirement System Board will hold their board meeting on May 99, 1997 at 11:00 a.m. immediately following the conclusion of the Joint Board Meeting in the 8th Floor Conference Room. 04 �' FINANCE DEPARTMENT 831 City Hall, 124 W.Michigan Ave: y FLansing,Michigan 48933 f F C,�I�t E D(517)483-4500 711AY 1S N 10: 47 LANSING CITY CLERK 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 May 22, 1997 at 9:30 a.m. in the 8th Floor Conference Room. The Hannah Group will be present to give the performance evaluation of the money managers. CITY OF LANSING ,�r,,11 E.IN Fnj POLICE AND FIRE RETIREMENT SYST'�''I I; 5 �,11 ,0j; 47 AGENDA LANISINIG CITY CLERK Regular Meeting May 221997 8th Floor Conference Room Thursday, 11:00 a.m. City Hall Lansing, MI 1. Call to Order. 2. Roll Call- Trustees Barkyoumb, Benavides, Cochran, Hollister, Kus, Lankheet, Luzynski, Rhode -8. 3. Reading of the Minutes of the Regular Meeting of April 15, 1997. 4. Public Comments for Items on the Agenda. 5. Secretary's Report. 0 new member(s), 0 reinstatement(s), 0 refund(s) 0 transfers and 1 retired. Total active membership: 531. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of April,1997 amounted to$928,659.06. Total retirement checks printed for the P&F System: 483. Total retirement checks printed for systems: 1,069. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. 6. Application for Regular Age &Service Retirement for: a. Steven A. Blake, Police Department, 25 years 4 months service credits, age 46, effective May 3, 1997. b. Lawrence E. Hufnagel, Fire Department, 28 years 3 months service credits, age 54, effective April 20, 1997. C. Mark W. Wilson,Police Department, 25 years 2 months service credits, age 45, effective May 10,1997. 7. Medical Evaluation - Duty Disability Retirement for Joseph Golden,Police Department. 8. Letter from Cornelius V. Robinson Requesting to Defer Retirement. 9. Investment Policy 10. Excusing of Board Members. 11. Other Business. 12. Investment of Funds. 13. Public Comments for Items not on the Agenda. 14. Pending Item(s): a. Outstanding Issues. 1) The Hannah Group -Contract Modifications. 2) Retirement Seminars-October 15th. 3) Computer Equipment Upgrade. 4) Requet for Duty Disability Retirement- Doyle Little, Police Department 5) Request of Tom Vasilion Regarding Pension Adjustment. CITY OF LANSING x LI-Iv I,) POLICE AND FIRE RETIREMENT SYSTEM AGENDA LANSING CI T Y CLEF Regular Meeting May 13, 1997 8th Floor Conference Room Tuesday, 8:30 a.m. City Hall Lansing, MI 1. Call to Order. 2. Roll Call - Trustees Barkyoumb, Benavides, Cochran, Hollister, Kus, Lankheet, Luzynski, Rhode -8. 3. Reading of the Minutes of the Regular Meeting of April 15, 1997. 4. Public Comments for Items on the Agenda. 5. Secretary's Report. 0 new member(s),0 reinstatement(s),0 refund(s) 0 transfers and 1 retired. Total active membership: 531. Refunds made since the last regular meeting amounted to: $0. Retirement allowances paid for the month of April,1997 amounted to$928,659.06. Total retirement checks printed for the P&F System: 483. Total retirement checks printed for systems: 1,069. Domestic relations orders received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders certified: 0. 6. Application for Regular Age &Service Retirement for: a. Steven A. Blake, Police Department, 25 years 4 months service credits, age 46, effective May 3, 1997. b. Lawrence E. Hufnagel, Fire Department, 28 years 3 months service credits, age 54, effective April 20,1997. C. Mark W. Wilson,Police Department, 25 years 2 months service credits, age 45, effective May 10,1997. 7. Medical Evaluation - Duty Disability Retirement for Joseph Golden,Police Department. 8. Letter from Cornelius V. Robinson Requesting to Defer Retirement. 9. Investment Policy 10. Excusing of Board Members. 11. Other Business. 12. Investment of Funds. 13. Public Comments for Items not on the Agenda. 14. Pending Item(s): a. Outstanding Issues. 1) The Hannah Group -Contract Modifications. 2) Retirement Seminars -October 15th. 3) Computer Equipment Upgrade. 4) Requet for Duty Disability Retirement- Doyle Little, Police Department 5) Request of Tom Vasilion Regarding Pension Adjustment. =rrECEI�rcL► OFFICIAL PROCEEDINGS OF THE ]BOARD Q. ��I�U�T��S CITY OF LANSING LAtd5«iG CITY CLERK POLICE & FIRE RETIREMENT SYSTEM Regular Meeting March 18,1997 8th Floor Conference Room Tuesday, 8:43 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Kus at 8:43 a.m. Present: Trustees Barkyoumb, Cochran,Hollister, Kus, Lankheet, Luzynski, Rubley-6. Absent: Trustee Benavides -1. Others: Robert Swanson,Steve Dougan, Finance Operations;Jack Jordan, Law Department; Tom Vasilion. It was moved by Trustee Luzynski,supported by Trustee Barkyoumb to approve the minutes of the regular meeting of February 18, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), 0 reinstatement(s), 4 refund(s) 0 transfers and 0 retired. Total active membership: 537. Refunds made since the last regular meeting amounted to: $3,939.01. Retirement allowances paid for the month of February, 1997 amounted to $913,858.45. Total retirement checks printed for the P&F System: 479. Total retirement checks printed for all three systems:1,059. 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 to approve the application for regular age and service retirement for Stephen R. Early,Police Department, 25 years service credits, age 45, effective March 20, 1997. Adopted by the following roll call: Yeas: Barkyoumb,Cochran, Hollister, Kus,Lankheet, Luzynski, Rubley -7. Nays: None. It was moved by Trustee Barkyoumb,supported by Trustee Luzynski to approve the application for regular age and service retirement for Martin J. Underhill,Jr., Police Department,25 years service credits,age 46, effective March 20, 1997. Adopted by the following roll call: Yeas: Barkyoumb,Cochran, Hollister, Kus,Lankheet, Luzynski, Rubley -7. Nays: None. rolice &Fire Retirement System Regular Meeting of March 18,1997 Page 2 It was moved by Trustee Hollister,supported by Trustee Barkyoumb to approve the application for regular age and service for Daryl A.Zuk,Police Department,25 years service credits,age 46,effective March 20, 1997. Adopted by the following roll call: Yeas: Barkyoumb, Cochran, Hollister, Kus, Lankheet, Luzynski, Rubley - 7. It was moved by Trustee Hollister, supported by Trustee Rubley to approve the request for refund of accumulated contributions for Brad G. Martin, Police Department. Adopted by the following vote:Unanimously. The Board reviewed a letter regarding pension adjustment for Tom Vasilion. Discussion was held. This item was table until next month. It was moved by Trustee Rubley, supported by Trustee Lankheet to excuse Trustee Benavides from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Rubley informed the Board that Northern Trust sent him a page that was Designation of Securities. Basically, this is for when they have a problem they need to contact someone with the authority to take action on behalf of the Board. It was moved by Trustee Barkyoumb, supported by Trustee Lankheet to give authorization to the Secretary to the Board/Finance Director, Deputy Finance Director,Chairperson and Vice Chairperson to transfer funds between investment managers or any other purposes necessary providing the transfer is for the purpose of meeting the needs of the retirement system and the accounts affected by the retirement accounts or City of Lansing accounts. Adopted by the following vote: Unanimously. Trustee Rubley informed the Board that Northern Trust has a lot of online capabilities. Current City equipment does not have the capability to obtain this information. Discussion was held to share the cost with the Employees Retirement System to obtain the necessary hardware,software and CD-Rom to bring us up to date to receive this information from Northern Trust. The Board requested more information on the cost to upgrade the equipment. This item tabled until the April meeting. Trustee Rubley gave an overview of the performance of the fund managers. T n eting dj rned at 9:30 a.m. Minutes approved op 5--9, Robert W. Swanson, Secretary Police & Fire Retirement System `>1 v�i*A71 18 PiM 1 7 OFFICIAL PROCEEDINGS OF THE BOAROGOV 1RUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting February 18, 1997 8th Floor Conference Room Tuesday, 8:46 a.m. City Hall Lansing, MI The Board met in regular session and was called to order by Chairperson Kus at 8:46 a.m. Present: Trustees Barkyoumb, Benavides, Cochran, Kus, Luzynski, Rubley - 6. Absent: Trustees Hollister, Lankheet -2. Others: Robert Swanson, Finance Operations; Steve Dougan, Budget Division; Jim Smiertka, Law Department. It was moved by Trustee Barkyoumb,supported by Trustee Luzynski to approve the minutes of the regular meeting of January 21, 1997. Adopted by the following vote: Unanimously. The Secretary reported: 3 new member(s)(Daniel Munford, April Norwood, Christopher Shacka, Police Department), 0 reinstatement(s), 1 refund(s) 0 transfers and 1 retired. Total active membership: 541. Refunds made since the last regular meeting amounted to: $7,261.32. Retirement allowances paid for the month of January, 1997 amounted to $914,297.46. Total retirement checks printed for the P&F System: 480. 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 Rubley to approved the requests for refund of accumulated contributions for: Charles H. Coleman II, Police Department, Scott G. Ivey, Police Department, Deborah Utter, Police Department and Rose Ortiz, Fire Department. Adopted by the following vote: Unanimously. Discussion was held regarding the pension adjustments for Melvin Lear. It was moved by Trustee Barkyoumb, supported by Trustee Rubley to allow up to 24 months to repay the overpayment in equal installments. Adopted by the following vote: Unanimously olice &Fire Retirement System Regular Meeting of February 18,1997 Page 2 Discussion was held regard the pension adjustment for Larry Pung. It was moved by Trustee Rubley, supported by Trustee Barkyoumb to allow up to 24 months to repay the overpayment in equal installments. Adopted by the following vote: Unanimously. Discussion was held regarding the duty disability medical evaluation for Daniel D. Isaac. It.was moved by Trustee Benavides, supported by Trustee Barkyoumb, per the recommendation of Dr. Chiodo, to continue Mr. Isaac on duty disability retirement. Adopted by the following roll call: Yeas: Barkyoumb, Benavides,Cochran, Kus, Luzynski, Rubley -6. Nays: None. It was moved by Trustee Luzynski, supported by Trustee Barkyoumb to excuse Trustees Hollister and Lankheet from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Rubley informed the Board that he had received suggested modifications to The Hannah Group contract, since their merger with Advest. It was moved by Trustee Barkyoumb, supported by Trustee Cochran to forward to the City Attorney for his review and that this be placed on pending items. Adopted by the following vote: Unanimously. The Board reviewed invoices from Dr. Chiodo. Discussion was held. It was moved by Trustee Barkyoumb,supported by Trustee Benavides that invoices be paid to vendors on an administrative basis in accordance with previously approved contracts. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the fund managers. The e g adj ur d at 9:30 a.m. Robert W. Swanson,Secretary Police &Fire Retirement System Minutes appro ed on (Jmes Kus, Chairperson Q�'�ASI � FINANCE DEPARTMENT 831 City Hall,124 W.Michigan Ave. Lansing,Michigan 48933 (517)483-4500 F'. UL if` CLErd" 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 February 18, 1997 at 9:30 a.m. in the 8th Floor Conference Room. A representative from The Hannah Group will be present to discuss investment performances. OFFICIAL PROCEEDINGS OF THE BOARD OF_TRUS,TEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting January 21, 1997 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 Vice Chairperson Luzynski at 8:40 a.m. Present: Trustees Barkyoumb, Cochran, Hollister, Luzynski, Rubley -5. Absent: Trustee Benavides, Kus, Lankheet -3. Others: Robert Swanson, Finance Operations;Steve Dougan, Budget. It was moved by Trustee Hollister, supported by Trustee Barkyoumb to approve the minutes of the regular meeting of December 17, 1996. Adopted by the following vote: Unanimously. The Secretary reported: 4 new member(s)(Deborah Bloom, Teresa McCave, Sheila Platner, Christopher Walker,Fire Department),0 reinstatement(s),1 refund(s) 0 transfers and 2 retired. Total active membership: 540. Refunds made since the last regular meeting amounted to: $164.18. Retirement allowances paid for the month of December, 1996 amounted to $898,603.91. Total retirement checks printed for the P&F System: 479. 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 Cochran, supported by Trustee Barkyoumb to approve the application for regular age and service retirement for C. Michael Doherty, Fire Department, 25 years 7 months service credits, age 50, effective January 6, 1997. Adopted by the following roll call vote: Yeas: Barkyoumb, Cochran, Hollister, Luzynski, Rubley -5. Nays: None. It was moved by Trustee Barkyoumb,supported by Trustee Rubley to approve the request for refund of accumulated contributions from Jacqueline L. Keene, Police Department. Adopted by the following vote: Unanimously. .,jice &Fire Retirement System Regular Meeting of January 21,1997 Page 2 It was moved by Trustee Rubley, supported by Trustee Barkyoumb to excuse Trustees Benavides, Kus and Lankheet from the meeting. Adopted by the following vote: Unanimously. Other Business Trustee Rubley reported on the results of the joint investment committee. This committee interviewed Northern Trust and Bank of New York. Northern Trust fees were about$69,000 per year for both systems. Bank of New York fees were $54,000 plus accounting fees. The committee recommends Northern Trust through their Detroit Office. It was moved by Trustee Barkyoumb, supported by Trustee Hollister to hire Northern Trust through their Detroit Office as the retirement systems custodial bank including securities lending. Adopted by the following vote: Unanimously. Trustee Rubley gave an overview of the performance of the fund managers. Th tin a jo rned at 9:10 a.m. Robert W. Swanson, Secretary Police & Fire Retirement System Minutes approved on 2-19'9 -4L mes Kus, Clairperson