HomeMy WebLinkAbout2004 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 14, 2004
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: Benavides, Cochran, Holliday, Lankheet, Lewis, Rhode - 6.
Absent: Meyer, Johnson.
Others: Karen Klein, Amy Kraus, Randy Endsley Finance Department; Jack Roberts, Law
Department; Steven Lett and Tom Krug.
It was moved by Trustee Cochran and supported by Trustee Holliday to approve the
minutes of the regular meeting of November 16, 2004.
Adopted Unanimously
Steven Lett, the Attorney for the FOP Supervisory Union, presented the background of
Stephen Klein's request to purchase military time. He indicated that the Union contract
allows to purchase up to two years of military time. Discussion ensued regarding the
purchasing of military time, in which, for the same time period retirement service credits
were being earned. The Board agreed to review this situation and report back on their
findings.
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
0 retired. Total: Active membership: 483. 0 deaths. Refunds made since the last regular
meeting amounted to 0. Retirement allowances paid for the month of November, 2004
amounted to $1,532,585.32. Total retirement checks printed for the P&F System: 601.
Total retirement checks printed for both systems: 1314. Domestic relations order
received: 0. Domestic relations orders pending: 2. Eligible domestic relations orders
certified: 0.
It was moved by Trustee Rhode and supported by Trustee Cochran to approve the
Request for Duty Disability for Frank Holmes.
Adopted Unanimously.
Trustee Rhode updated the Board on three pending Duty Disability cases.
Regular Meeting December 14, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, Ml
Trustee Rhode updated the Board on one Request for Refund of Accumulated
Contributions.
It was moved by Trustee Cochran and supported by Trustee Holliday to excuse Board
members Johnson and Meyer.
Adopted Unanimously
It was moved by Trustee Cochran and supported by Trustee Holliday to approve the
proposed meeting dates for 2005 with the exception of the meeting originally scheduled
for November 15 be changed to November 8, 2005.
Adopted Unanimously
Trustee Rhode informed the Board that the Actuary will attend the meeting in January to
present the Annual Actuarial Report.
Trustee Rhode issued the Investment Report for November.
Trustee Rhode updated the Board on the progress of the Audit being performed for
calendar years 200 and 2001.
It moved by Trustee Lewis and supported by Trustee Cochran to adjourn at 9:19 a.m.
Minutes approved on -2-1 5-—a �
./� /Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING ;
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting November 16, 2004
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 8:36 a.m.
Present: Benavides, Cochran, Lankheet, Lewis, Rhode - 5.
Absent: Holliday, Meyer, Johnson.
Others: Randy Endsley Finance Department; Jack Roberts, Law Department.
It was moved by Trustee Cochran and supported by Trustee Lewis to approve the minutes
of the regular meeting of October 19, 2004 with the inclusion of the aggregate amount
forgiven due to calculation errors that resulted in overpayment to the retirees of$6,581.00.
Adopted by the following vote: Unanimously.
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
0 retired. Total: Active membership: 483. 2 deaths. Henry W. Lecato, Fire, died
10/28/04, age 77, ex-spouse to receive 50%; Ethel M. Miller, spouse of Virgil C. Childs,
Fire, died 10/11/04. Refunds made since the last regular meeting amounted to 0.
Retirement allowances paid for the month of October, 2004 amounted to
$1,533,133.37.Total retirement checks printed for the P&F System: 603. Total retirement
checks printed for both systems: 1314. Domestic relations order received: 0. Domestic
relations orders pending: 2. Eligible domestic relations orders certified: 0.
Trustee Rhode updated the Board regarding the three pending Duty Disability Requests.
It was moved by Trustee Cochran and supported by Trustee Lewis to excuse Board
members Holliday, Johnson, and Meyer.
Adopted Unanimously
Trustee Rhode updated the Board on the audit findings for the completed Phase 1
(01/01/2002 - 06/30/04) of the Pension Calculation Audit. Trustee Rhode also updated the
Board on Phase II (01/01/2000 - 12/31/2001) of the Audit.
Jack Roberts informed the Board regarding the Statute of Limitations regarding Pension
overpayment or underpayment due to error. He indicated that the statute for both errors
Regular Meeting November 16, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
is six years.
Trustee Rhode discussed the current policy regarding Refunds of Accumulated
Contributions. Trustee Rhode proposed a new form as well as a requirement that the
employee sign off on.
It was moved by Trustee Benavides and supported by Trustee Cochran to adopt the new
form and require the employee to sign the new form. A copy of the policy will be attached
in the minutes. Additionally, this policy supercedes all previous policies.
Adopted Unanimously
Trustee Lankheet updated the Board on the selection process for a new Retirement
Analyst.
Trustee Rhode indicated that Barclay, a new money manager, needs a resolution
authorizing Trustee Lankheet conduct transactions.
It was moved by Trustee Rhode and supported by Trustee Cochran to authorize Trustee
Lankheet to conduct transactions with Barclay as a representative of the Retirement
System.
Adopted Unanimously
Trustee Rhode discussed the upcoming Joint Retirement System meeting.
Trustee Rhode issued and discussed the Securities Lending report for the month of
October.
It moved by Trustee Cochran and supported by Trustee Lewis to adjourn at 9:04 a.m.
Minutes approved on 1 2- )4-04
Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting October 19, 2004
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: Benavides, Cochran, Holliday, Lankheet, Lewis, Meyer, Rhode - 7.
Absent: Johnson
Others: Randy Endsley Finance Department; Jack Roberts, Law Department.
It was moved by Trustee Cochran and supported by Trustee Lewis to approve the minutes
of the regular meeting of September 21, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 1 refund(s), 0 transfers,
0 retired. Total: Active membership: 483. 1 death. Roger W. Weber, Fire, died 9/17/04,
age 62, no survivor; Refunds made since the last regular meeting amounted to 1.
Retirement allowances paid for the month of September, 2004 amounted to
$1,552,983.56.Total retirement checks printed for the P&F System: 605. Total retirement
checks printed for both systems: 1316. Domestic relations order received: 0. Domestic
relations orders pending: 2. Eligible domestic relations orders certified: 0.
It was moved by Trustee Holliday and supported by Trustee Cochran to excuse Board
member Johnson.
Adopted Unanimously
There was a brief discussion about the MAPERS Conference recently attended by several
Board Members.
It was moved by Trustee Benevides and supported by Trustee Holliday to approve Trustee
Cochran's request for any member to attend the International Foundation Conference in
New Orleans.
Adopted Unanimously
Regular Meeting October 19, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Minutes approved on 00
�.i
XYI
Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE;BOARD: OF
TRUSTEES :, -no
CITY OF LANSING r G E IR 'r
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting September 21, 2004
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 8:30 a.m.
Present: Benavides, Cochran, Holliday, Lankheet, Lewis, Rhode - 6.
Absent: Johnson, Meyer
Others: Randy Endsley Finance Department; Margo Vroman, Law Department; Jin Seok
An, Steve Luciano, Clyde Smith;
Trustee Rhode discussed the events leading to the upcoming selection of a new Enhanced
Index Manager. There was a conference call with Asset Consulting. The topic was the
consultant's recommendation for a new Enhanced Index Manager. George, from Asset
Consulting explained the desired qualities of an Enhanced Index Manager. Discussion
followed regarding the possible strategies of employing multiple Enhanced Index
Managers. It was the recommendation of Asset Consulting that fifty percent of the funds
that are currently with Northern Trust be transferred to a singular Enhanced Index
Manager, Barclay.
It was moved by Trustee Rhode and supported by Trustee Cochran to transfer fifty percent
of the funds that exist in Northern Trust's Index Fund to Barclay Enhanced Index Fund.
Adopted by the following vote: Unanimously.
It was moved by Trustee Holliday and supported by Trustee Cochran to approve the
minutes of the regular meeting of August 17, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 1 refund(s), 0 transfers,
5 retired. Total: Active membership: 484. 1 death. Mark J. Burns, Police, died 9/05/04,
age 52, spouse will receive 50%; Refunds made since the last regular meeting amounted
to 1. Retirement allowances paid for the month of August, 2004 amounted $1,522,629.30.
Total retirement checks printed for the P&F System: 600. Total retirement checks printed
for both systems: 1,309. Domestic relations order received: 0 . Domestic relations orders
meeting at 9:52 a.m.
Adopted Unanimously
Regular Meeting September 21, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Minutes approved on
/` / ��✓ /l./ r
Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE BOARD OF ='='
TRUSTEES - L 4: 1
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting August 17, 2004
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: Benavides, Holliday, Johnson, Lankheet, Lewis, Rhode - 6.
Absent: Cochran, Meyer
Others: Randy Endsley, Glenn Kirk, Finance Department; Jack Roberts, Law Department;
Nancy Cunningham, Personnel Department
It was moved by Trustee Rhode and supported by Trustee Holliday to approve the minutes
of the regular meeting of July 20, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
0 retired. Total: Active membership: 490. 0 deaths; Refunds made since the last regular
meeting amounted to $0.00. Retirement allowances paid for the month of July, 2004
amounted $1,518,169.10. Total retirement checks printed for the P&F System: 598. Total
retirement checks printed for both systems: 1,307. Domestic relations order received:
0 . Domestic relations orders pending: 3. Eligible domestic relations orders certified: 0.
It was moved by Trustee Holliday and supported by Trustee Lewis to approve the following
application for Regular Age and Service Retirement:
Timothy Poxson, Police, 21 years 6 month(s) service credits, Deferred to Age 55 years,
effective August 21, 2004
Jeff Orler, Fire, 25 years 0 month(s) service credits, Age 45 years, effective
September 2, 2004
Michael Simpson, Police, 25 years 0 month(s) service credits, Age 51 years,
effective September 4, 2004
Regular Meeting August 17, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Marcel Holloway, Police, 25 years 0 month(s) service credits, Age 54 years,
effective September 4, 2004
YEAS: Benavides, Holliday, Lankheet, Lewis, Rhode
NAYS: None
Trustee Rhode updated the Board on status of one Duty Disability evaluation.
Trustee Rhode updated the Board on one request for refund of accumulated contributions
to the pension fund.
It was moved by Trustee Holliday and supported by Trustee Lewis to excuse Board
members Cochran and Meyer.
Adopted Unanimously
It was moved by Trustee Holliday and supported by Trustee Lewis to approve payment of
50% of Glenn Kirk's expenses in attending a conference in Nashville.
Adopted Unanimously
Trustee Rhode updated the Board on the upcoming Enhanced Index Manager interviews.
Trustee Holliday and Trustee Rhode updated the Board on the progress of adopting a new
beneficiary option for single parents. Jack Roberts updated the Board on various legal
issues that have to be addressed regarding the adoption of the policy.
It was moved by Trustee Benevides and supported by Trustee Holliday to proceed with an
ordinance change to adopt a new beneficiary option for single parents.
Adopted Unanimously
This policy shall be attached to the minutes.
Trustee Rhode asked the Board for any suggestions of policies that should be drafted.
Trustee Rhode discussed the progress of the Audit of Benefits being performed by
Douglas Rubley.
Trustee Rhode handed out and discussed the Securities Lending report for July.
Regular Meeting August 17, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Minutes approved on q-21 - 04
Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting July 19, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall called to order 8:30 a.m.
Lansing, MI
The Board met in regular session and was called to order at 8:30 a.m.
Present: Benavides, Cochran, Holliday, Johnson, Lankheet, Lewis, Rhode - 7.
Absent: Meyer
Others: Randy Endsley, Glenn Kirk, Finance Department; Jack Roberts, Law Department
It was moved by Trustee Cochran and supported by Trustee Lewis to approve the minutes
of the regular meeting of June 15, 2004. -
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
0 retired. Total: Active membership: 490. 0 deaths; Refunds made since the last regular
meeting amounted to $0.00. Retirement allowances paid for the month of June, 2004
amounted $1,518,386.14. Total retirement checks printed for the P&F System: 598. Total
retirement checks printed for both systems: 1,309. Domestic relations order received:
0 . Domestic relations orders pending: 3. Eligible domestic relations orders certified: 0.
It was moved by Trustee Holliday and supported by Trustee Cochran to approve the
following application for Regular Age and Service Retirement:
Gregory Ventre, Police, 25 years 1 month(s) service credits, Age 52 years, effective
July 31, 2004
YEAS: Benavides, Cochran, Holliday, Johnson, Lankheet, Lewis, Rhode
NAYS: None
Trustee Rhode updated the Board on status of one Duty Disability evaluation.
Trustee Rhode updated the Board on one request for refund of accumulated contributions
to the pension fund.
Regular Meeting July 19, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Minutes approved on 8--i 7 -Gq
n
Glenn Kirk, Secretary
i Police & Fire Retirement System
Bruce Lankheet Chairperson
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
RESOLUTION
Regular Meeting July 20, 2004
City Council Conference Room Tuesday, 8:30 a.m.
10`h Floor City Hall
Lansing, MI
The Police and Fire Retirement System authorizes Bruce Lankheet to be a representative
and authorized signature for relationships and transactions related to Delaware.
Motion by Trustee Rhode. Supported by Trustee Cochran.
Adopted Unanimously.
4LQw��
Jill Rhode
Deputy Director of Finance
CITY OF LANSING
RETIREMENT OFFICE
DUTY DISABILITY INCOME VERIFICATION
POLICY - JULY 20, 2004
Since the City of Lansing's Duty Disability Pension is limited by the amount of money earned by
the retiree, the Retirement Ordinance allows the City of request and review the retiree's income
on an annual basis.
The following is the policy regarding this verification:
1. Each December, all Duty Disability Retirees will be notified that they must provide
documentation of any income earned during that year by supplying a copy of their Federal tax
return to the City of Lansing's Retirement Office.
2. This response must be filed to the Retirement Office by April 30`h
3. Retirees not responding to the request will be sent a second letter detailing a new due date of
an additional 30 days and indicating fail,�.jre to respond will result in the discontinuance of their
pension payments. This letter will be sent certified to his/her home.
4. If the Retiree does not respond to this request, the Retirement office will notify the Pension
Board and recommend that the Retiree's pension payment be discontinued until he/she provides
the necessary information.
a rc V e c� PO 1 C t G'Y�, t `l N v- C Z-0 10
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting June 15, 2004
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 8:36 a.m.
Present: Benavides, Cochran, Lankheet, Lewis, Meyer, Rhode - 6.
Absent: Holliday, Johnson
Others: Randy Endsley, Glenn Kirk, Amy Kraus, Finance Department; Jack Roberts, Law
Department
It was moved by Trustee Cochran and supported by Trustee Meyer to approve the minutes
of the regular meeting of May 18, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
0 retired. Total: Active membership: 490. 2 deaths; Justin G. Gehrholz, Fire, died
05/14/04, age 76, spouse will receive 50%; Robert J. Fisher, Fire, died 5/11/04, age 79,
spouse will receive 50%; Refunds made since the last regular meeting amounted to $0.00.
Retirement allowances paid for the month of May, 2004 amounted $1,515,720.10. Total
retirement checks printed for the P&F System: 599. Total retirement checks printed for
both systems: 1,309. Domestic relations order received: 1 . Domestic relations orders
pending: 0. Eligible domestic relations orders certified: 0.
It was moved by Trustee Rhode and supported by Trustee Cochran to refer Gary Brown's
request for Duty Disability to the Duty Disability sub-committee.
Adopted Unanimously
It was moved by Trustee Cochran and supported by Trustee Lewis to excuse Board
members Johnson and Holliday.
Adopted Unanimously
Regular Meeting JUNE 15, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Trustee Rhode updated the Board on one Duty Disability reevaluation.
Trustee Rhode indicated to the Board that she would draft a policy regarding the issuing
of Duty Disability Income Verification forms.
Trustee Rhode updated the Board on the Fortis Change.
It was moved by Trustee Rhode and supported by Trustee Cochran to eliminate the
Retirement System's investment relationship with Lincoln Trust and to contract with
Delaware, for an approximate cost savings of$14,000.00 (fourteen thousand dollars).
Adopted Unanimously
It was moved by Trustee Rhode and supported by Trustee Cochran to adopt the Duty
Disability's recommendation to cease using the services of Dr. Chiodo and to contract with
Dr. Victor Roth to perform Duty Disability examinations.
Adopted Unanimously
It was moved by Trustee Cochran and supported by Trustee Lewis to provide Gary
Gustafson a gift, not to exceed $100.00 (one hundred dollars), in recognition of past
service as Retirement Analyst.
Adopted Unanimously
Trustee Rhode discussed the progress of potential Beneficiary Options for Single Parents.
Trustee Rhode discussed the progress of the Audit of Benefits being performed by
Douglas Rubley
Trustee Rhode handed out and discussed the investment report for May and also handed
out a securities lending report for May.
Minutes approved on `1 -►`I -L
Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
i-
OFFICIAL PROCEEDINGS OF THE BOARD OF '
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTE ='
Regular Meeting May 18, 2004
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 8:36 a.m.
Present: Benavides, Cochran, Holliday, Johnson, Lankheet, Lewis, Meyer, Rhode - 8.
Absent: None
Others: Gary Gustafson, Glenn Kirk, Finance Department; Jack Roberts, Law
Department
It was moved by Trustee Cochran and supported by Trustee Holliday to approve the
minutes of the regular meeting of April 20, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 1 refund(s), 0 transfers,
1 retired. Total: Active membership: 490. 4 deaths; George Post, fire, retired on
10/16/65, died 04/16/04, age 88, no survivor; Gwendolyn Bullock, fire, widow of Raymond,
died 04/14/04, age 91: Isabell Cushman, fire, wife of Jack, died 04/09/04, age 92; Patricia
Wilkins, police, widow of Fred, died 04/06/04, age 78; Refunds made since the last regular
meeting amounted to $18,224.06. Retirement allowances paid for the month of April, 2004
amounted $1,493,858.63. Total retirement checks printed for the P&F System: 600. Total
retirement checks printed for both systems: 1,312. Domestic relations order received:
0 . Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0.
It was moved by Trustee Rhode and supported by Trustee Cochran to authorize Chair
Lankheet to be a signer for the boards documents with Northern Trust
Adopted Unanimously
It was moved by Trustee Cochran and supported by Trustee Holliday to hire Doug Rubley
for 10 to 15 hours per week at a cost of$55.00 per hour to do special projects as assigned
by the boards. Costs to be split with ERS board on joint projects and to be borne by the
appropriate board for a specific board work. Contract to run thru 12/31/04.
Adopted Unanimously
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting April 20, 2004
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: Benavides, Cochran, Holliday, Johnson, Lankheet, Lewis, Rhode - 7.
Absent: Meyer
Others: Gary Gustafson, Amy Kraus, Finance Department; Margo Vrooman, Law
Department; Karen Setla, Clyde Smith
It was moved by Trustee Cochran and supported by Trustee Lewis to approve the minutes
of the regular meeting of March 16, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
12 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0
transfers, 0 retired. Total: Active membership: 491. 1 death. Clayton J. Croy, police,
retired on May 1, 1966, age 89, died 03/12/04, no surviror. Refunds made since the last
regular meeting amounted to 0. Retirement allowances paid for the month of March, 2004
amounted $1,492,072.55. Total retirement checks printed for the P&F System: 599. Total
retirement checks printed for both systems: 1,304. Domestic relations order received:
0 . Domestic relations orders pending: 0. Eligible domestic relations orders certified: 0.
It was moved by Trustee Rhode and supported by Trustee Cochran to approve the Duty
Disability request for Heidi Moen in conjunction with Dr. Chiodo's report.
Yeas: Benavides, Cochran, Holliday, Johnson, Lankheet, Lewis, Rhode
Nays: None
It was moved by Trustee Cochran and supported by Trustee Holliday to refund Victoria
Woods accumulated contributions to the pension fund.
Adopted Unanimously
Regular Meeting April 20, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
It was moved by Trustee Cochran and supported by Trustee Meyer to excuse Trustee
Meyer.
It was approved Unanimously
A conference call was placed to George Tarlas concerning a new International Investment
Manager. Mr. Tarlas recommended hiring a new manager.
It was moved by Trustee Cochran and supported by Trustee Holliday to hire Artisan as the
new International Manager and to take the money from Harding Loevner. Investment
money to be moved under the timing and recommendation of George Tarlas.
It was approved Unanimously
Trustee Rhode discussed the report from Dr. Chiodo concerning Sheryl Norton. Board
requested cost to have a full 3 doctor panel review of her condition.
Trustee Rhode handed out a proposal for Beneficiary Options for Single Parents.
Trustee Rhode to re-do Clyde Smith retirement calculation and report to board in May.
Special Project Committee to meet with same committee from ERS concerning possible
hiring of Mr. Rubley for board related matters.
It was noted by the board of Jay Varney's deferred retirement request.
Trustee Rhode handed out and discussed the investment report for March.
Minutes approved on
-, Glenn Kirk, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting March 16, 2004
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 8:36 a.m.
Present: Cochran, Meyer, Lankheet, Lewis, Rhode - 5.
Absent: Benavides, Holliday, Johnson
Others: Gary Gustafson, Finance Department; Jack Roberts, Law Department
It was moved by Trustee Cochran and supported by Trustee Meyer to approve the minutes
of the regular meeting of February 17, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
1 retired. Total: Active membership: 481. 2 deaths. Wesley Frayer, Fire, retired on
01/07/88, age 71, died 02/10/04, spouse will receive 50%. Warren Kenney, Fire, retired
on 01/04/80, age 78, died 03/05/04, spouse will receive 50%. Refunds made since the last
regular meeting amounted to 0. Retirement allowances paid for the month of February,
2004 amounted $1,492,035.43. Total retirement checks printed for the P&F System: 599.
Total retirement checks printed for both systems: 1,300. Domestic relations order
received: 0 . Domestic relations orders pending: 0. Eligible domestic relations orders
certified: 0.
It was moved by Trustee Cochran and supported by Trustee Lewis to approve the following
application for Regular Age and Service Retirement:
Christine Backlund, Police Department, 25 years service credits, age 50 years, effective
April 10, 2004.
It was approved Unanimously
It was moved by Trustee Cochran and supported by Trustee Rhode to table until next
month the application for Duty Disability for Heidi Moen.
Adopted Unanimously
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting February 17, 2004
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 8:31 a.m.
Present: Cochran, Meyer, Holliday, Johnson, Lewis, Rhode - 6.
Absent: Benavides, Lankheet
Others: Gary Gustafson, Finance Department; Jack Roberts, Law Department
It was moved by Trustee Holliday and supported by Trustee Johnson to approve the
minutes of the regular meeting of January 20, 2004.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 0 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
2 retired. Total: Active membership: 482. 1 death. Richard Simons, Police, retired on
5/3/82, age 78, died on 01/15/04, spouse will receive 50%. Refunds made since the last
regular meeting amounted to 0. Retirement allowances paid for the month of January,
2004 amounted $1,493,421.19. Total retirement checks printed for the P&F System: 598.
Total retirement checks printed for both systems: 1,301. Domestic relations order
received: 0 . Domestic relations orders pending: 0. Eligible domestic relations orders
certified: 0.
It was moved by Trustee Rhode and supported by Trustee Holliiday in conjunction with Dr.
Chiodo's report to approve the Duty Disability Retirement for Julia Schneggenburger
effective February 18, 2004.
It was approved Unanimously
It was moved by Trustee Holliday and supported by Trustee Rhode to excuse Trustees
Benavides and Lankheet.
It was approved Unanimously
OFFICIAL PROCEEDINGS OF THE BOARD OF
TRUSTEES
CITY OF LANSING
POLICE AND FIRE RETIREMENT SYSTEM
Regular Meeting January 20, 2004
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 8:36 a.m.
Present: Cochran, Holliday, Johnson, Lankheet, Rhode - 5.
Absent: Benavides, Meyer, Lewis
Others: Gary Gustafson, Finance Department; Jack Roberts, Law Department
Brad Armstrong from Gabriel, Roeder, Smith and Company gave the Actuary Report.
It was moved by Trustee Rhode and seconded by Trustee Holliday to transfer the
recommended amount of money per the Actuary Report from the reserve for Employers
Contributions to the Reserve for the Retired Benefit Payments.
Adopted by the following vote: Unanimously
It was moved by Trustee Cochran and supported by Trustee Holliday to approve the
minutes of the regular meeting of December 16, 2003.
Adopted by the following vote: Unanimously.
Secretary's Report:
0 new fire member(s), 2 new police members, 0 reinstatement(s), 0 refund(s), 0 transfers,
1 retired. Total: Active membership: 484. 1 death. Robert Belen, Police, retired on
7/27/79, age 78, died on 01/09/04, spouse will receive 50%. Refunds made since the last
regular meeting amounted to 0. Retirement allowances paid for the month of December,
2003 amounted $1,473,083.45. Total retirement checks printed for the P&F System: 598.
Total retirement checks printed for both systems: 1,302. Domestic relations order
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 approve the
following application for Regular Age and Service Retirement:
Regular Meeting January 20, 2004
Council Conference Room Tuesday, 8:30 a.m.
10th Floor City Hall
Lansing, MI
Joel P. Maatman, Police Department, 25 years 2 months service credits, age 48 years,
effective December 27, 2003.
It was Approved Unanimously
The board authorized sending Julia Schneggenburger to Dr. Chiodo for a Duty Disability
evaluation.
Absent board members could not be excused as a quorum was not avaliable.
Trustee Rhode gave the investment report for December
The meeting adjourned at 9:28 a.m.
Minutes approved on -°
,• �� � I�Vti2-
1 ill Rhode, Secretary
Police & Fire Retirement System
Bruce Lankheet Chairperson