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HomeMy WebLinkAbout2002 mins Police and Fire Retirement System FINAL OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Regular Meeting December 17, 2002 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. Present: Benavides, Hollister, Johnson, Lankheet, Luzynski, Rhode -6 Abesent: Cochran, Holliday Others: Doug Rubley,Amy Kraus,and Gary Gustafson, Finance Department,Jim Smiertka, and Jack Roberts, Law Department. It was moved by Trustee Lankheet, and supported by Trustee Benavides to approve the minutes of the regular meeting of December 17, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstate ment(s), 0 refund(s), 0 transfers, 4 retired. Total active membership: 488. Refunds made since the last regular meeting amounted to $0. Retirement allowances paid for the month of November amounted $1,395,958.42. 1 death; James Borseth, retired from the Police Department and District Court, died on 12/09/02, surviving spouse Joyce will receive 50% of police pension and 100% of the ERS pension. Total retirement checks printed for the P&F System: 576. Total retirement checks printed for systems: 1,242. Domestic relations order received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Benavides and supported by Trustee Lankheet to approve the following Regular Age and Service Retirement. Helen Buse Police Department, 26 years 6 months service credits, age 52 years, effective December 28, 2002. Ayes: Benavides, Hollister, Johnson, Lankeet, Luzynski, and Rhode Nay's: 0 It was approved Unanimously. Regular Meeting December 17, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI It was moved by Trustee Lankheet and supported by Trustee Benavides to approve the following Regular Age and Service Retirement. Christian Cook, Fire Department, 25 years 3 months service credits, age 51 years, effective January 06, 2003. Ayes: Benavides, Cochran, Hollister, Lankeet, Luzynski, and Rhode Nay's: 0 It was approved Unanimously. It was moved by Trustee Benavides and supported by Trustee Lankheet to excuse board member, Cochran and Holliday. It was Approved Unanimously. The Summary Plan Description was referred to the A.D.H.O.C. Special Project Committee. Mr. Rubley reported on the Duty Disability Rule. Mr. Rubley gave the investment report for October 2002. The meeting adjourned at 9:25 a.m. Minutes approved on cl/_2/-- Robert Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Regular Meeting November 19, 2002 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. Present: Benavides, Cochran, Hollister, Lankheet, Luzynski, Rhode -6 Abesent: Holliday, Johnson Others: Robert Swanson, Doug Rubley,Amy Kraus, Gary Gustafson and Robin Noe, Finance Department, Jim Smiertka, Law Department. It was moved by Trustee Benavides, and supported by Trustee Cochran to approve the minutes of the regular meeting of October 15, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 2 new member(s) 0 reinstatement(s), 0 refund(s), 0 transfers, 0 retired. Total active membership: 488. Refunds made since the last regular meeting amounted to $0. Retirement allowances paid for the month of October amounted $1,358,889.33. 2 death; Donald Dennany Fire, died on 10/16/02, age 73. Gloria Green Fire, died on 10/24/02, age 59: Miles Green ex-spouse. Total retirement checks printed for the P&F System: 575. Total retirement checks printed for systems: 1,235. Domestic relations order received: 0. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Benavides to approve the following Regular Age and Service Retirement. Timothy Adam, Police Department, 25 years service credits, age 47 years, effective November 29, 2002. Russell McKenzie, Police Department, 25 years service credits, age 46 years, effective November 29, 2002. Regular Meeting November 19, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI Mark J. Davis, Police Department, 25 years 2 month service credits, age 49 years, effective November 30, 2002. David D Dickson jr., Police Department, 25 years 1 month service credits, age 50 years, effective November 30, 2002. Ayes: Benavides, Cochran, Hollister, Lankeet, Luzynski, and Rhode Nay's: 0 It was approved Unanimously. It was reported and accepted for Dean Lardie, retiree of the Fire Department to convert over to Regular Age & Service. It was moved by Trustee Cochran and supported by Trustee Lankheet to refund Jason Daniel, Jason Russell, and Wilbert Brewer their contributions. It was Approved Unanimously. It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse board member, Holliday and Johnson. It was Approved Unanimously. The Summary Plan Description is still pending. It was moved by Trustee Benavides and supported by Trustee Hollister to share half the cost in the printing on the retirees open enrollment packet for the health benefits. It was Approved Unanimously. Mr. Rubley gave the investment report for October 2002. It was moved by Trustee Lankheet and supported by Trustee Benavides to adjourn the meeting. It was Approved Unanimously. Regular Meeting November 19, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The meeting adjourned at 9:25 a.m. Minutes approved on 12--17- O 2- Robert Swanson, Secretary A Police & Fire Retirement System Paul Luzynski, Chairperson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Regular Meeting September 17, 2002 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. Present: Benavides, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode-8 Others: Robert Swanson, Doug Rubley, and Robin Noe, Finance Department, Jim Smiertka. It was moved by Trustee Cochran, and supported by Trustee Benavides to approve the minutes of the regular meeting of August 20, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 1 new member(s), (0) reinstatements, 0 refund(s), 0 transfer(s), 1 retired, . Total active membership: 488. Refunds made since the last regular meeting amounted to $0. Retirement allowances paid for the month of August 2002 amounted to $1,343,758.59. 1 death, Robert Moore Jr. age 84, retired in 1968, and died on 09/2/02. Total retirement checks printed for the P & F System: 572. Total retirement checks printed for systems: 1,234. Domestic relations orders received : 0. Domestic relations orders pending : 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Hollister and supported by Trustee Cochran to approve the following Regular Age and Service Retirement. Thomas Shaver, Fire Department, 25 years 1 month service credits, age 49 years, effective September 28, 2002. Yeas: Benavides, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None Regular Meeting September 17, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI It was moved by Trustee Hollister and supported by Trustee Cochran to approve the following Regular Age and Service Retirement. John L. Feldpausch, Fire Department, 25 years service credits, age 50 years, effective October 02, 2002. Yeas: Benavides, Cochran, Hollister, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None All Board Members were present. It was moved by Trustee Cochran and supported by Trustee Holliday to have the request for Duty Disability Retirement by Gina Lee, to be referred to the Sub Committee. It was Approved Unanimously. It was moved by Trustee Lankheet and supported by Trustee Cochran to allow Trustee Luzynski to attend the Public Board Forms Seminar in November, which will be held in San Francisco. It was Approved Unanimously. Doug Rubley reported on Phase I I I; the letter for terminating Lazaard is ready to be signed by him and Trustee'Luzynski. The effective date for terminating Lazaard is 09/27/02. A letter is to be sent to Loomis to let them know that the Police and Fire Retirement System is dissatisfied with their performance. Another $6 million was put into the realty funding; $4 million into UBS fund and $2million into the Clarion fund, bringing the total up to $12 million. It was reported by Trustee Luzynski that the final draft for the Benefits book is ready to give to the committee. It was moved by Trustee Cochran and supported by Trustee Rhode to agree on the fee increase from Gabriel, Smith and Roeder to do the MinuteMaster. The money will come out of Security Lending for this fee. Doug Rubley described the Finance Department's effort to establish a more professional environment for the retirement office, including Robin Noe's area. The two offices will be side by side, and they will be the first two offices by the reception area. Regular Meeting September 17, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI The cost for this, which includes new office furniture, will be a total of$3000 per office. Mr. Rubley has asked the Police and Fire Retirement Board to contribute $3000 and will ask the ERS Board to contribute the other $3000. It was moved by Trustee Cochran and supported by Trustee Rhode to contribute the $3000 for the refurnishing of the two retirement offices. It was brought to the Board's attention that the Duty Disability retirement language concerning retirement options needed to be clarified. It was moved by Trustee Cochran and supported by Trustee Lankheet that all married duty disability retirees be uniformly informed that if they do not make a selection, the Retirement Office will treat them as having selected the "50W option. Jim Smiertka reported that Jack Roberts as been appointed the new Deputy City Attorney. Either Jim Smiertka or Jack Roberts will be attending the board meetings. Mr. Rubley gave the investment report for August. It was moved by Trustee Lankheet and supported by Trustee Holliday to adjourn the meeting. It was Approved Unanimously. The meeting adjourned at 9:55 a.m. Minutes approved on Robert Swanson, Secretary Police & Fire Retirement System L 4'��aulLu'zyn�ski, CfAlr,76/ OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Regular Meeting August 20, 2002 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. Present: Cochran, Johnson, Lankheet, Luzynski, Rhode - 5 Absent: Benavides, Hollister, Holliday Others: Gary Gustafson, Robert Swanson, Doug Rubley, and Robin Noe, Finance Department. It was moved by Trustee Rhode, and supported by Trustee Cochran to approve the minutes of the regular meeting of July 16, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s), (0) reinstatements, 1 refund(s), 0 transfer(s), 5 retired, . Total active membership: 489. Refunds made since the last regular meeting amounted to $10,268.13. Retirement allowances paid for the month of July 2002 amounted to $1,385,079.39. 1 death. Total retirement checks printed for the P & F System: 570. Total retirement checks printed for systems: 1,229. Domestic relations orders recieved : 0. Domestic relations orders pending : 0. Eligible domestic relations orders certified: 0. It was moved by Trustee Lankheet and supported by Trustee Benavides to approve the following Regular Age and Service Retirement. Robert Wallace, Fire Department, 25 years 10 month service credits, age 51 years, effective September 15, 2002, Yeas: Benavides, Holliday, Lankheet, Luzynsk, Rhode. Nays: None. Regular Meeting August 20, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI It was moved by Trustee Holliday and supported by Trustee Lankheet to excuse Trustees Cocharan, Hollister and Johnson. It was Approved Unanimously. It was moved by Trustee Holliday and supported by Trustee Benavides to allow Trustee Lankheet to attend the Guns and Hoses September Seminar in Florida . It was Approved Unanimously. It was moved by Trustee Rhode and supported by Trustee Holliday to allow the Chair person to approve up to 2 Board members to attend seminars. For more than 2 board members. Board approval will be required. It was Approved Unanimously. Robin Noe gave an updated report on the Direct Deposit for retirees. Trustee Luzynski requested to see a copy of any letters sent to retirees. In case Board members receive calls on the letters. It was moved by Trustee Rhode and supported by Trustee Holliday to approve funds for the death check audit for the Retirement System, through The Berwyn Group. It was Approved Unanimously. Mark Colby was unable to give the accounting / financial statement report. Robin Noe announced she will be taking over Gary Gustafson's place in attending the Board meetings and taking the minutes and agenda. She will also be doing the estimates for employees who want to look to see if they can retire. The new committee to look at future staffing was deferred to the joint board meetings. Mr. Luzynski reported that the final draft for the Benefits book has been typed up. Mr. Rubley gave the investment report for July. It was moved by Trustee Lankheet and supported by Trustee Holliday to adjourn the meeting. It was Approved Unanimously. The meeting adjourned at 9:45 a.m. Regular Meeting August 20, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI Minutes approved on Robert Swanson, Secretary Police & Fire Retirement System .01 aul Luzynski, Chairp n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE AND FIRE RETIREMENT SYSTEM Regular Meeting July 16, 2002 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. Present: Cochran, Johnson, Lankheet, Luzynski, Rhode - 5 Absent: Benavides, Hollister, Holliday Others: Gary Gustafson, Robert Swanson, Doug Rubley, andRobin Noe, Finance Department. It was moved by Trustee Rhode, and supported by Trustee Cochran to approve the minutes of the regular meeting of July 16, 2002. Adopted by the following vote: Unanimously. The Secretary reported: For May - 2 (police) new member(s), 0 refund(s), 0 retired. Total active membership: 494. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of May 2002 amounted to $1,315,588.08. 1 death. Total retirement checks printed for the P & F System: 565. Total retirement checks printed for systems: 1,221. Domestic relations orders recieved : 0. Domestic relations orders pending : 1. Eligible domestic relations orders certified: 0. The Secretary reported: For June -0 new member(s), 0 refund(s), 0 retired. Total active membership: 494. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of June 2002 amounted to $1,315,324.11. 0 death. Total retirement checks printed for the P & F System: 565. Total retirement checks printed for systems: 1,219. Domestic relations orders recieved : 0. Domestic relations orders pending : 1. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following retirements together. Phillip Thomas, Fire Department, 27 years 4 month service credits, age 49 years, effective July 17, 2002. Regular Meeting July 16, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI Barry Edwards, Fire Department, 27 years 8 month service credits, age 49 years, effective July 14, 2002. Larry Martin, Fire Department, 26 years 4 month service credits, age 56 years, effective July 14, 2002. John Richard, Police Department, 25 years service credits, age 52 years, effective August 03, 2002. Fred Tabor, Police Department, 25 years service credits, age 50 years, effective August 10, 2002. Gary A Clevenger, Fire Department, 25 years 4 month service credits, age 50 years, effective July 14, 2002. Joseph Defors, Fire Department, 25 years 5 month service credits, age 51 years, effective July 15, 2002. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the above Regular Age and Service Retirements. Yeas: Cochran, Johnson, Lankheet, Luzynsk, Rhode. Nays: None. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the refund Accumulated Contribution to Teresa Parker. It was Approved Unanimously. It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Trustees Benavides, Hollister, and Holliday. It was Approved Unanimously. It was moved by Trustee Cochran and supported by Trustee Lankheet to accept the renewal contract services from Gabriel, Roeder, Smith and Company; Fee services from $7,640.00 to $7,752.00. It was Approved Unanimously. Regular Meeting July 16, 2002 Council Conference Room Tuesday, 8:30 a.m. 10th Floor City Hall Lansing, MI It was moved by Trustee Lankheet and supported by Trustee Cochran to authorize use of Securities lending fund for the Benefits Book. It was Approved Unanimously. It was moved by Trustee Cochran and supported by Trustee Lankheet to use the Northern Trust fund to change from the Basic Collateral to Core USA Collateral. It was Approved Unanimously. Mr. Rubley gave the investment report for June. The meeting adjourned at 9:35 a.m. Minutes approved on D 2O 2"" Robert Swanson, Secretary Police & Fire Retirement System 1171 Paul Luz nski, C i erson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Reconvened Meeting June 20, 2002 Council Conference Room Thursday, 11:00 a.m. 10th Floor City Hall Lansing, MI The Board met from recessed meeting of June 18, 2002 and was called to order at 11:00 a.m. Present: Trustees Cochran, Holliday, Johnson, Lankheet, Luzynski, Rhode Absent: Benavides, and Hollister It was moved my Trustee Cochran and supported by Trustee Rhode to approve Phase II of the Master Funding Plan, 4 million to UBS and 2 million to Clarion. Adopted Unanimously. Minut pproved on f / (0/- 0�?- Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, it r n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting May 14, 2002 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 8:50 a.m. Present: Trustees Cochran, Hollister, Johnson, Luzynski, Rhode - 5 Absent: Trustees Holliday and Lankheet Others: Gary Gustafson, Doug Rubley, Finance Department; Jack Jordan, Law Department It was moved by Trustee Hollister and supported by Trustee Cochran to approve the minutes of the regular meeting of April 16, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 15 (Fire) new member(s) 0 reinstatement(s), 2 refund(s) 0 transfers, 1 retired. Total active membership: 492. Refunds made since the last regular meeting amounted to 4,399.37. Retirement allowances paid for the month of April 2002 amounted to $1,328,087.72. 1 death. Total retirement checks printed for the P&F System: 568. Total retirement checks printed for all systems: 1,223. Domestic relations orders received: 0. Domestic relations orders pending: 1. Eligible domestic relations orders certified: . It was moved by Trustee Hollister and supported by Trustee Rhode to approve the 2002 Investment Policy. It was Approved Unanimously Mr. Rubley handed out the Investment Report for April. The meeting asi'9Lt ed__at 9:35 a.m. "Lu�yrski', 7 /(O Robert W. Swanson, Secretar y Police & Fire Retirement System OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting March 19, 2002 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, Holliday, Johnson, Luzynski, Rhode - 5 r� Absent: Cochran, Hollister, Lankheet ` Others: Gary Gustafson, Doug Rubley, Mark Colby, Amy Magistro, Finance Department; Jack Jordan, Law Department It was moved by Trustee Rhode and supported by Trustee Adado to approve the minutes of the regular meeting of February 19, 2002. 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: 482. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of February, 2002 amounted to $1,302,137.00. 0 deaths. Total retirement checks printed for the P&F System: 560. Total retirement checks printed for all systems: 1,207. Domestic relations orders received: 2. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. It was agreed by the board to vote on the following retirements together. Gerald K. Dunn Jr., Fire Department, 25 years 3 months service credits, age 54 years, effective February 19, 2002. Randall S. Johnson, Fire Department, 25 years service credits, age 46 years, effective March 10, 2002. Ted Barger, Police Department, 19 years service credits, age 55 years, effective April 1, 2002. Mr. Barger deferred his retirement in 1988. It was moved by Trustee Holliday and supported by Trustee Adado to approve the above Regular Age and Service Retirements. Yeas: Adado, Holliday, Johnson, Luzynski, Rhode Nays: None Police & Fire Retirement Board Regular Meeting of March 19, 2002 page 2 It was moved by Trustee Adado and supported by Trustee Johnson to excuse Trustees Cochran, Hollister, and Lankheet It was Approved Unanimously It was moved by Trustee Adado and supported by Trustee Holliday to authorize a Due Diligence Inspection to N.Y. on April 10,11,12 for Clarion. (Real Estate) Mark Colby updated the board on the status of Direct Deposit for retirees. Mr. Rubley updated the board on the Securities Lending Investment Fund. It was moved by Trustee Rhode and supported by Trustee Holliday to accept phase I of the proposed strategy for funding and re-balancing which is to be implemented by May 1, 2002. It was Approved Unanimously It was moved by Trustee Rhode and supported by Trustee Johnson to forgo having a Financial Audit for the Police and Fire Retirement System as it is already included in the annual City audit. It was Approved Unanimously Mr. Rubley gave the Investment Report for February. The meeting adjourned at 10:00 a.m. Ming sapproved n Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, Chair son OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting April 16, 2002 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 Cochran, Johnson, Lankheet, Luzynski, Rhode - 5 Absent: Trustees Hollister and Holliday 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 March 19, 2002. Adopted by the following vote: Unanimously. The Secretary reported: 0 new member(s) 0 reinstatement(s), 0 refund(s) 0 transfers, 4 retired. Total active membership: 478. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of March, 2002 amounted to $1,322,086.23. 5 deaths. Total retirement checks printed for the P&F System: 567. Total retirement checks printed for all systems: 1,217. Domestic relations orders received: 0. Domestic relations orders pending: 1. Eligible domestic relations orders certified: 1. It was moved by Trustee Lankheet and supported by Trustee Cochran to refund Mathew Gonzalez (Fire) and Amy Gunderson (Police) Retirement Contributions. Adopted by the following vote: Unanimously It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Trustees Hollister and Holliday It was Approved Unanimously Trustee Luzynski discussed his Due Diligence trip to Clarion. It was moved by Trustee Cochran and supported by Trustee Lankheet to transfer $588,000.00 to the Mutual Index Fund and retain $50,000.00 in Securities Lending for expenses. If the fund falls below $25,000.00, to increase it back to the $50,000.00 level. Also, the monthly earnings are to go to the Index Fund. It was Approved Unanimously Police & Fire Retirement Board Regular Meeting of April 16, 2002 page 2 Mr. Rubley is going to send the Benefits book out to the board members for evaluation. Mr. Rubley gave the Investment Report for March. The meeting adjourne at 9:47 a.m. Min ap rove n"5 r/J Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzynski, C ai'XIO n OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting February 19, 2002 Council Conference Room Tuesday, 830 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, Lankheet, Luzynski, Rhode - 6 Absent: Holliday, Johnson Others: Gary Gustafson, Doug Rubley, Bob Swanson, Finance Department; Jack Jordan, Law Department; Maneul Little, Karen Little, and Robin Omer. It was moved by Trustee Adado and supported by Trustee Cochran to approve the minutes of the regular meeting of January 15, 2002. 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: 482. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of January , 2002 amounted to $1,297,344.10. 0 deaths. Total retirement checks printed for the P&F System: 560. Total retirement checks printed for all systems: 1,207. Domestic relations orders received: 2. Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0. Manuel Little, Police Duty Disability Retiree stated to the board that he had not selected an option for his beneficiary at the time of his Disability Retirement and he believed that he should have the right to select the beneficiary at the time he goes on Regular Age & Service Retirement. The board disagreed. It was moved by Trustee Adado and supported by Trustee Rhode that its an automatic 50% to the spouse if no spousal opition has been selected. Adopted by the following vote: Unanimously. It was moved by Trustee Hollister and supported by Trustee Lankheet to approve the application for Regular Age and Service Retirement for Donald C. Dawson, Police Department, 32 years 8 months service credits, age 54 years, effective February 16, 2002. Yeas: Adado, Cochran, Hollister, Lankheet, Luzynski, Rhode Nays: None Police & Fire Retirement Board Regular Meeting of February 19, 2002 page 2 It was agreed by the board to vote on the following two applications together. It was moved by Trusteee Lankheet and supported by Trustee Hollister to approve the following two applications: Karen Setla, Police Department, 25 years service credits, age 48 years, effective March 2, 2002. Woodrow Wright, Police Department, 25 years service credits, age 49 years, effective March 21, 2002. Yeas: Adado, Cochran, Hollister, Lankheet, Luzynski, Rhode Nays: None The board was informed that Joseph Golden, Police Department, converted to Regular Age & Service Retirement from Duty Disability effective February 1, 2002. It was moved by Trustee Cochran and supported by Trustee Lankheet to approve the Duty Disability Retirement of Daniel J. Kowalesky per the recommendation of Dr. Chiodo, effective February 20, 2002. Yeas: Adado, Cochran, Hollister, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Cochran and supported by Trustee Adado to excuse Trustees Holliday and Johnson It was Approved Unanimously Mr. Rubley was requested by the board to write a letter to Ron Hansen in regards to his letter stating it was past practice and to also put Mr. Hansen's letter on the Agenda under pending. Mr. Rubley gave the Investment Report for January. The meeting adjour ed at 9:50 a.m. 3 2k W� Mpdlr)el ap v don Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luzyns r erson OFFICIAL PROCEEDINGS OF THE BOARD OF TRUSTEES CITY OF LANSING POLICE & FIRE RETIREMENT SYSTEM Regular Meeting January 15, 2002 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, Holliday, Johnson, Lankheet, Luzynski, Rhode Absent: Hollister Others: Gary Gustafson, Doug Rubley, Finance Department; Jack Jordan, Law Department. It was moved by Trustee Cochran and supported by Trustee Holliday to approve the minutes of the regular meeting of December 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: 482. Refunds made since the last regular meeting amounted to 0. Retirement allowances paid for the month of December , 2001 amounted to $1,290,863.02 1 death. Total retirement checks printed for the P&F System: 562. 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 application for Regular Age and Service Retirement for Charles Strahan, Fire Department, 25 years service credits, age 50 years, effective January 14, 2002. Yeas: Adado, Cochran, Holliday, Johnson, Lankheet, Luzynski, Rhode Nays: None It was moved by Trustee Holliday and supported by Trustee Cochran to send Daniel Kowalesky to Dr. Chiodo for a Duty Disability Evaluation. It was approved unanimously It was noted by the board of the conversion of Robert Miller from Duty Disability to Regular Age & Service Retirement. It was moved by Trustee Cochran and supported by Trustee Lankheet to excuse Trustee Hollister It was Approved Unanimously Police & Fire Retirement Board Regular Meeting of January 15, 2002 page 2 Retirement Analyst Gary E. Gustafson gave a presentation to the board explaining the forms and documents being used to process a employee for retirement. Mr. Rubley explained that the new Benefits Book is being proof-read at the present time. The board stated that a new Actuary Table (for Option IV) needs to be developed for Police Supervisors. It was moved by Trustee Rhode and seconded by Trustee Lankheet to transfer the recommended amount of money per the Actuary Report from the Reserve for Employer Contributions to the Reserve for the Retired Benefit Payments effective December 31, 2000. It was approved unanimously Mr. Rubley gave the Investment Report for December. The m g adj ur d at 9:51 a.m. Minutes approved on_O 2~ OZ Robert W. Swanson, Secretary Police & Fire Retirement System Paul Luz nski, airper o