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HomeMy WebLinkAbout2001 mins Police and Fire Retirement System minutes FINAL OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting December 18, 2001 Finance Conference Room Tuesday, 8:30 a.m. 8th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Adado Cochran, Holliday, Luzynski, Rhode Absent: Hollister, Johnson, Lankheet Others: Gary Gustafson, Doug Rubley, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Holliday and supported by Trustee Cochran to approve the minutes of the regular meeting of November 20, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 7 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 1 retired. Total active membership: 482. Refunds made since the last regular meeting amounted to $5,002.60. Retirement allowances paid for the month of November , 2001 amounted to $1,280,857.21 1 death. Total retirement checks printed for the P&F System: 559. Total retirement checks printed for all systems: 1,204. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Holliday to excuse Trustees Hollister, Johnson, Lankheet It was Approved Unanimously It was moved by Trustee Holliday and supported by Trustee Cochran to approve the Consent form for Option IV (Police) with the addition of a notary signature. It was Approved Unanimously It was noted that the Benefits Book is being worked on It was moved by Trustee Cochran and supported by Trustee Holliday to approval the Meeting Dates for 2002 as amended. It was Approved Unanimously Police & Fire Retirement Boaru Regular Meeting of December 18, 2001 page 2 It was moved by Trustee Holliday and supported by Trustee Adado to keep the same Chair (Luzynski) and Vice-Chair (Lankheet) as in 2001. Yeas: Adado, Cochran, Holliday, Luzynski, Rhode Nays: None It was moved by Trustee Adado and supported by Trustee Cochran to accept the recommendation of the sub committee to hire UBS Brinson and Clarion Partners for Real Estate Managers It was Approved Unanimously Mr. Rubley gave the Investment Report for November. The meeting a urn d at 9:22 a.m. Minutes approved on /'x�-D 2 Ro ert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chai%)'n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting November 20, 2001 Council Conference Room Tuesday, 8;30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:39 a.m. Present: Trustees Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Absent: Adado Others: Gary Gustafson, Doug Rubley, Bob Swanson, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Holliday and supported by Trustee Cochran to approve the minutes of the regular meeting of October 16, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 0 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of October , 2001 amounted to $1,287,620.85 4 deaths. Total retirement checks printed for the P&F System: 560. Total retirement checks printed for all systems: 1,206. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the Duty Disability Retirement for Stephen L. Barnes, Fire Department, effective November 21, 2001. Yeas: Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Holliday and supported by Trustee Lankheet to approve the refund of contributions for Jennifer Kielas, Police Department. Adopted Unanimously It was moved by Trustee Cochran and supported by Trustee Lankheet to send all six people to Dr. Chiodo for re-evaluation as determined by the disability committee. The criteria used for selecting candidates were: the person had been disabled at least two years, they have at least 10 years before age and service retirement, and they haven't been evaluated in last five years. It was Adopted Unanimously The Disability sub-committee will draft a letter to be sent to the six people. Police & Fire Retirement Bound Regular Meeting of November 20, 2001 page 2 It was moved by Trustee Cochran and supported by Trustee Holliday to excuse Trustee Adado It was Approved Unanimously It was moved by Trustee Cochran and supported by Trustee Lankheet to sign the new contract with Asset Consulting. Adopted Unanimously The board discussed the new Consent Form for Option IV (Police) It was moved by Trustee Cochran and supported by Trustee Lankheet to put International Equity Manager Harding Loevener on notice concerning their performance. Letter to be drafted by George Tarlas. Adopted Unanimously It was moved by Trustee Rhode and supported by Trustee Holliday to authorize $10,000 for a legal opinion concerning an EDRO Duty Disability. Adopted Unanimously Mr. Rubley gave the Investment Report for October. Theme ptadjo me t 10:12 a.m. Mr ins approved on 2-/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Lu ynski, Chair on CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM AGENDA Regular Meeting November 20, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI 1. Call to Order. 2. Roll Call - Trustees Adado, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode - 8. 3. Reading of the Minutes of the Regular Meeting of October 16, 2001. 4. Public Comments for Items on the Agenda. 5. Secretary's Report. 0 new member(s) 0 reinstatement(s), 0 refund(s), 0 transfers, 0 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of October 2001 amounted to $1,287,620.85 4 deaths. Total retirement checks printed for the P&F System: 560. Total retirement checks printed for systems: 1,206. Domestic relations order received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. 6. Application for Regular Age & Service Retirement. None 7. Conversion from Duty Disability to Regular Age & Service Retirement. None 8. Request for Duty Disability Retirement: Stephen L. Barnes - Dr. Chiodo evaluation 9. Request for Refund of Accumulated Contribution for Jennifer Kielas - police 10. Review of Duty Disability Retirees 11. Excusing of Board Members. 12. Training and Education. 13. Public Comments for items not on the Agenda. 14. Other Business a. Asset Consulting Contract b. Consent form for Option IV (Police) 15. Pending (items): a. Benefits Book 16. Investment Report. t OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting October 16,2001 Council Conference Room Tuesday, 8.:.30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:33 a.m. Present: Trustees Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Absent: Adado Others: Gary Gustafson, Amy Magistro, Doug Rubley, Bob Swanson, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the minutes of the regular meeting of September 18, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 0 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of September , 2001 amounted to $1,287,773.77 1 death. Total retirement checks printed for the P&F System: 561. Total retirement checks printed for all systems: 1,204. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Holliday and supported by Trustee Cochran to excuse Trustee Adado It was approved unanimously Trustee Rhode discussed the up coming brown bag presentations and the topics to be presented. Mr. Rubley mentioned the status of the retirement analysts new computer. The board told the disability retirement committee to send whoever they thought appropriate to Dr. Chiodo for a reevauation. Mr. Rubley also gave a status update on the progress of the new benefits book. Police & Fire Retirement Board Regular Meeting of October 16, 2001 page 2 Mr. Rubley gave the Investment Report for September. The me 'ng adj urn d at 9:10 a.m. Minu ppr ved —�/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chairp OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE '&. FIRE RETIREMENT SYSTEM Regular Meeting September 18, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Adado, Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode Absent: Holliday Others: Gary Gustafson, Doug Rubley, Bob Swanson, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Adado and supported by Trustee Cochran to approve the minutes of the regular meeting of August 21, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 0 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of August , 2001 amounted to $1,290,490.80 1 death. Total retirement checks printed for the P&F System: 563. Total retirement checks printed for all systems: 1,203. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Johnson to send Steven L. Barnes to Dr. Chiodo for a duty disability evaluation. Adopted unanimously It was moved by Trustee Cochran and supported by Trustee Adado to excuse Trustee: Holliday It was approved unanimously Trustee Luzynski asked the board members who were going to Mapers to net work with other cities about their retirement personnel. It was mentioned that some of the Police and Fire Retirement retirees are asking about the possibility of having a retiree sit on the board as a 9th member. Police & Fire RetiremE Board Regular Meeting of September 18, 2001 page 2 Mr. Rubley gave a brief synopsis of the retirement seminar and also the status of the benefits book. Mr. Rubley gave the Investment Report for August. The me ting adjour ed at 9:25 a.m. Minutes approved on k � � Robert W. Swanson, Secretary Police & Fire Retirement System Maul Luzynski, Chair er ' OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting August 21, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:43 a.m. Present: Trustees Adado, Cochran, Lankheet, Luzynski, Rhode Absent: Hollister, Holliday, Johnson Others: Gary Gustafson, Doug Rubley , Finance Department; Jack Jordan, Law Department. It was moved by Trustee Adado and supported by Trustee Cochran to approve the minutes of the regular meeting of July 17, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 1 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of July , 2001 amounted to $1,289,242.4208. 2 deaths. Total retirement checks printed for the P&F System: 568. Total retirement checks printed for all systems: 1,213. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Holliday to segregate securities lending from the general assets of the retirement s;;stem. It was approved unanimously It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Trustees: Hollister, Holliday, Johnson It was approved unanimously The Retirement Seminar for September 11, 2001 is set for 5:30 to 8:30 P.M. at the Lansing Center. It was moved by Trustee Cochran and supported by Trustee Lankheet to pay up to $3,000.00 from the securities lending account for the retirement seminar. It was approved unanimously Mr. Rubley stated that the PC has been ordered for the Retirement Analyst. Police & Fire Retirement "ard Regular Meeting of August 21, 2001 page 2 It was decided not to have a conference call with Dr. Chiodo. Mr. Rubley gave the Investment Report for July. The meeting adjourned at 9:31 a.m. �&zz�� - Minu approved on / F-O/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, V5111 OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting July 17, 2001 Council Conference Room Tuesday, 8.30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:37 a.m. Present: Trustees Adado, Cochran, Holliday, Johnson, Luzynski. Absent: Hollister, Lankheet, Rhode Others: Gary Gustafson, Doug Rubley , Finance Department; Brian Bevez, Law Department. It was moved by Trustee Adado and supported by Trustee Cochran to approve the minutes of the regular meeting of June 19, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 1 refund(s) 0 transfers, 2 retired. Total active membership: 476. Refunds made since the last regular meeting amounted to $ 5,366.52. Retirement allowances paid for the month of June , 2001 amounted to $1,294,819.42. 3 deaths. Total retirement checks printed for the P&F System: 565. Total retirement checks printed for all systems: 1,204. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Holliday to approve the conversion from Duty Disability to Regular Age & Service Retirement for Gene Bateman, Fire Department. Yeas: Adado, Cochran, Holliday, Johnson, Luzynski, Nays: None It was moved by Trustee Cochran and supported by Trustee Holliday to approve the Duty Disability Retirement for Robert Wade, Fire Department, effective July 18, 2001. Yeas: Adado, Cochran, Holliday, Johnson, Luzynski Nays: None It was moved by Trustee Holliday and supported by Trustee Adado to excuse Trustees: Hollister, Lankheet, Rhode It was approved unanimously Police & Fire Retirement Board Regular Meeting of July 17, 2001 page 2 It was moved by Trustee Adado and supported by Trustee Johnson to approve the new fee structure for Gabriel, Roeder, Smith and Company. It was approved unanimously. Mr. Rubley mentioned that the Police Non Supervisor contract was ratified and that they also have the .0320 factor. It was moved by Trustee Cochran and supported by Trustee Johnson to pay up to one half for a new computer for the retirement office with the cost to not exceed $2,000.00. The payment is to come from securities lending. It was approved unanimously. Mr. Rubley gave the Investment Report for June The meeting adjourned t 936 a.m. Minutes approved on � a-21.,o/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chai D rson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting June 19, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:35 a.m. Present: Trustees Adado, Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode. Absent: Holliday Others: Gary Gustafson, Doug Rubley , Finance Department; Brian Bevez, Law Department, John Brodie, Parks It was moved by Trustee Cochran and supported by Trustee Johnson to approve the minutes of the regular meeting of May 17, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 1 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 2 retired. Total active membership: 479. Refunds made since the last regular meeting amounted to $ 0. Retirement allowances paid for the month of May , 2001 amounted to $1,284,665.25. 2 deaths. Total retirement checks printed for the P&F System: 568. Total retirement checks printed for all systems: 1,205. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Adado to approve the conversion from Duty Disability to Regular Age & Service Retirement for Richard S. Burgess, Police Department. Yeas: Adado, Cochran Hollister, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Cochran and supported by Trustee Lankheet to approve_the refund of contributions for David Isabell, Police Department. Yeas: Adado, Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Lankheet and supported by Trustee Cochran to approve the. commission on recapture by using the traditional way. Yeas: Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode Nays: Adado It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Police & Fire Retirement Board Regular Meeting of June 19, 2001 page 2 Trustee Holliday It was approved unanimously pry � it was moved by Trustee Adado and supported by Trustee Lankheet to approve to go to the Guns & Hoses Convention in September. Yeas: Adado, Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode Nays: None The board mentioned that there was a planned conference call with Dr. Chiodo this week to discuss fees and disability status of employees. The Benefits Book should be ready by September. It was moved by Trustee Adado and supported by Trustee Lankheet to approve 5% for investing in real estate and to search for a manager. It was approved unanimously It was moved by Trustee Adado and supported by Trustee Cochran to approve the Pre Funding of Health Care and to use the estimated formula for calculation. Yeas: Adado, Cochran, Hollister, Johnson, Lankheet, Luzynski, Rhode Nays: None Mr. Rubley updated the board on the new rules concerning Deferred Compensation. Mr. Rubley gave the Investment Report for May. The mee ' adj me at 9:43 a.m. Min approved on Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Ch., Verson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting April 17, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:40 a.m. Present: Trustees Adado, Cochran, Johnson, Lankheet, Luzynski, Rhode. Absent: Hollister, Holliday Others: Gary Gustafson, Bob Swanson, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Lankheet and supported by Trustee Cochran to approve the minutes of the regular meeting of March 20, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 0 retired. Total active membership: 566. Refunds made since the last regular meeting amounted to $ 0. Retirement allowances paid for the month of March, 2001 amounted to $1,282,053.13. 3 deaths. Total retirement checks printed for the P&F System: 564. Total retirement checks printed for all systems: 1,191. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Cochran to approve the application for Regular Age and Service Retirement for Robert Delamarter, Police Department with 25 years service credits, age 46 years, effective April 21, 2001. Yeas: Adado, Cochran, Johnson, Lankheet, Luzynski, Rhode Nays: (None It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Trustees Hollister and Holliday It was approved unanimously Brad Armstrong from Gabriel, Roeder, Smith & Company gave the Experience Study presenting a comparison of various assumptions. It was moved by Trustee Adado and supported by Trustee Lankheet to accept Alternate 2 (page 6 of report) per the presentation by Mr. Armstrong. It was approved unanimously Police & Fire Retirement Board Regular Meeting of April 17, 2001 page 2 The Investment Report was not given as the information was not yet available. The meeting adjo rned at 10:08 a.m. Min approved one l Robert W. Swanson, Secretary " //,/ ;Lj Police & Fire Retirement System �I"G Paul Luzynski, hair on OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting March 20, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:37 a.m. Present: Trustees Adado, Cochran, Hollister, Holliday,Johnson, Lankheet, Luzynski, Rhode. Absent: None Others: Gary Gustafson, Doug Rubley, Bob Swanson, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Adado and supported by Trustee Hollister to approve the minutes of the regular meeting of February 20, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 1 retired. Total active membership: 567. Refunds made since the last regular meeting amounted to $ 0. Retirement allowances paid for the month of February, 2001 amounted to $1,283,532.02. No deaths. Total retirement checks printed for the P&F System: 563. Total retirement checks printed for all three systems: 1,190. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the application for Regular Age and Service Retirement for Richard Grant, Fire Department with 26 years 6 months service credits, age 48 years, effective April 11, 2001. Yeas: Adado, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Lankheet and supported by Trustee Cochran to approve the application for Duty Disability Retirement for George Howell, Police Department. Yeas: Adado, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Adado and supported by Trustee Hollister to send Trustee Luzynski to the NCPERS conference. Adopted Unanimously. Police & Fire Retirement r3oard Regular Meeting of March 20, 2001 page 2 Peter Vanden Berg, Police Department, Deferred his Retirement until eligible. It was moved by Trustee Adado and supported by Trustee Cochran to accept the new Travel Guidelines. Adopted Unanimously. Mr. Rubley gave the investment report for February. The meeting adjourned at 9:35 a.m. Min s approv on -/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Ch erson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting February 20, 2001 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The Board met in regular session and was called to order at 8:32 a.m. Present: Trustees Adado, Cochran, Johnson, Lankheet, Luzynski, Rhode. : Absent: Trustee Hollister, Holliday _ ca Others: Gary Gustafson, Doug Rubley, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Adado and supported by Trustee Cochran to approve the minutes of the regular meeting of January 16, 2001. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 1 retired. Total active membership: 569. Refunds made since the last regular meeting amounted to $ 0. Retirement allowances paid for the month of January, 2001 amounted to $1,291,625.51. One death. Total retirement checks printed for the P&F System: 561. Total retirement checks printed for all three systems: 1,190. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Adado to excuse Trustees Hollister and Holliday It was approved unanimously. P" F Doug ubley discussed the status of the new pamphlets that are being developed to hand out to newlemployees outlining their benefits. Bruce Holliday was reelected in February to the Police & Fire Retirement Board for a term of five years. George Tarlas from Asset Consulting Group gave a brief description on Commission Recapture. Jack Jordan gave a legal opinion about High Yield Bonds. Doug Rubley handed out the January Investment Report Police & Fire Retirement Board Regular Meeting of February 20, 2001 page 2 The meeting adjourn at 9:50 a.m. Minutes approve n 2� —0/ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luz nski, lys'on OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting January:16-, 2001 Council Conference Room Tuesday, 8:30:a.m. 10th Floor City Hall Lansing, MI o The Board met in regular session and was called to order at 8:32 a.m. c,.) Present: Trustees Cochran, Holliday, Lankheet, Luzynski, Rhode. Absent: Trustee Adado, Hollister, Johnson (Trustee Johnson arrived when pending items were being discussed) Others: Gary Gustafson, Doug Rubley, Finance Department; Brian Bevez, Law Department. It was moved by Trustee Cochran supported by Trustee Lankheet to approve the minutes of the regular meeting of December 19, 2000. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 1 retired. Total active membership: 569. Refunds made since the last regular meeting amounted to $ 0. Retirement allowances paid for the month of December, 2000 amounted to $1,262,123.23. One death. Total retirement checks printed for the P&F System: 561. Total retirement checks printed for all three systems: 1,188. Domestic relations orders received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the application for Regular Age and Service Retirement for Kevin Radigan, Fire Department with 27 years 11 service credits, age 50 years, effective January 31, 2001. Yeas: Cochran, Holliday, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the application for Regular Age and Service Retirement for Daniel L. Ziolkowski, Fire Department with 25 years service credits, age 46 years, effective February 3, 2001. Yeas: Cochran, Holliday, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Holliday and supported by Trustee Cochran to excuse Trustees Adado, Hollister, Johnson It was approved unanimously. Police & Fire Retirement Board Regular Meeting of January 16, 2001 page 2 Trustee Johnson arrived as Trustee Rubley was explaining that the pension service credit audit was completed and no corrections needed to be made. Mr. Rubley gave the investment report for December. The meeting adjour ed at 9:38 a.m. Mi a approved on ,,,,/ Robert W. Swanson, Secretary Police & Fire Retirement System 1 %Paul Luzynski, Chairp