Retirement Board

BURLINGTON RETIREMENT BOARD BUSHOR CONFERENCE ROOM, 149 CHURCH STREET, 1ST FLOOR MINUTES OF MEETING November 17, 2025 1. Agenda 1. Agenda Chair Hooper convened the meeting at 9:35 am. Members present: CAO Schad, Bob Hooper, Munir Kasti, Paul Olsen, David Mount, Eric Dalla Mura Others present: Assistant City Attorney McClenahan, DOF Kukenberger (both in person); Chris Rowlins and Kate Pizzi (both online) Subject 1.1. Motion to adopt agenda Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 1. Agenda Department Retirement Administration Type Action Procedural Recommended Action Motion to adopt agenda 1.1. Motion to adopt agenda Motion made by Board Member Dalla Mura, seconded by Board Member Olsen, to adopt the agenda as presented. Motion passed unanimously. 2. Public Forum 2. Public Forum No one spoke. 3. Consent Agenda 3. Consent Agenda Motion made by Board Member Mount, seconded by Board Member Olsen, to adopt the consent agenda as amended and take the actions indicated. Motion passed unanimously. Subject 3.1. Motion to adopt the consent agenda and take the actions indicated Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 3. Consent Agenda Department Retirement Administration Type Action (Consent) Procedural 3.1. Motion to adopt the consent agenda and take the actions indicated Subject 3.2. October 20, 2025 Retirement Board Meeting Minutes - DFA Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 3. Consent Agenda Department Department of Finance and Administration Type Action (Consent) Information Minutes 3.2. October 20, 2025 Retirement Board Meeting Minutes - DFA Subject 3.3. 2026 Meeting Schedule - DFA Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 3. Consent Agenda Department Department of Finance and Administration Type Action (Consent) 3.3. 2026 Meeting Schedule - DFA Agenda item removed and will be part of the December agenda for consideration. 4. Approve Return of Contributions 4. Approve Return of Contributions Motion made by CAO Schad, seconded by Board Member Olsen, to approve the contributions as presented. Motion passed unanimously. Subject 4.1. Akimi Rovinsky, Class B $647.10; Effective Date of Benefit: 12/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Akimi Rovinsky 4.1. Akimi Rovinsky, Class B $647.10; Effective Date of Benefit: 12/01/25 Subject 4.2. Hope E. Williams, Class B $5,827.58; Effective Date of Benefit: 12/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Hope E. Williams 4.2. Hope E. Williams, Class B $5,827.58; Effective Date of Benefit: 12/01/25 Subject 4.3. Kaye E. Douglas, Class B $12,794.09; Effective Date of Benefit: 11/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Kaye E. Douglas 4.3. Kaye E. Douglas, Class B $12,794.09; Effective Date of Benefit: 11/01/25 Subject 4.4. Corey Hurley, Class B $10,557.39; Effective Date of Benefit: 12/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Corey Hurley 4.4. Corey Hurley, Class B $10,557.39; Effective Date of Benefit: 12/01/25 Subject 4.5. Jean-Christian Adrien, Class B $1, 092.53; Effective Date of Benefit: 12/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Jean-Christian Adrien 4.5. Jean-Christian Adrien, Class B $1, 092.53; Effective Date of Benefit: 12/01/25 Subject 4.6. Jackson W. Dandridge, Class B $17,615.10; Effective Date of Benefit: 12/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Jackson W. Dandridge 4.6. Jackson W. Dandridge, Class B $17,615.10; Effective Date of Benefit: 12/01/25 Subject 4.7. Pamela A. Williams, Class B $2,567.36; Effective Date of Benefit: 11/01/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 4. Approve Return of Contributions Department Retirement Administration Type Action Recommended Action approve return of contribution for Pamela A. Williams 4.7. Pamela A. Williams, Class B $2,567.36; Effective Date of Benefit: 11/01/25 5. Approve Retirement Applications 5. Approve Retirement Applications Motion made by Board Member Mount, seconded by Board Member Olsen, to approve the retirement applications as presented. Motion passed unanimously. Subject 5.1. Marcella Gange, Class B $973.41; Effective Date of Benefit: 09/01/25; Payment Date: 09/15/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 5. Approve Retirement Applications Department Retirement Administration Type Action Recommended Action approve retirement application for Marcella Gange 5.1. Marcella Gange, Class B $973.41; Effective Date of Benefit: 09/01/25; Payment Date: 09/15/25 Subject 5.2. Melissa N. Cate, Class B $2,690.41; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 5. Approve Retirement Applications Department Retirement Administration Type Action Recommended Action approve retirement application for Melissa N. Cate 5.2. Melissa N. Cate, Class B $2,690.41; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 Subject 5.3. Garreth M. Rogers, Class B $3,342.01; Effective Date of Benefit: 11/01/25; Payment Date: 11/15/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 5. Approve Retirement Applications Department Retirement Administration Type Action Recommended Action approve retirement application for Garreth M. Rogers 5.3. Garreth M. Rogers, Class B $3,342.01; Effective Date of Benefit: 11/01/25; Payment Date: 11/15/25 Subject 5.4. Michaelene Paquette, Class B $86.15; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 5. Approve Retirement Applications Department Retirement Administration Type Action Recommended Action approve retirement application for Michaelene Paquette 5.4. Michaelene Paquette, Class B $86.15; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 Subject 5.5. Carolynne E. Morris, Class A $5,795.45; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 5. Approve Retirement Applications Department Retirement Administration Type Action Recommended Action approve retirement application for Carolynne E. Morris 5.5. Carolynne E. Morris, Class A $5,795.45; Effective Date of Benefit: 10/01/25; Payment Date: 10/15/25 6. Administrative Update 6. Administrative Update Subject 6.1. BERS Prepaid Pension Update Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 6. Administrative Update Department Retirement Administration Type Discussion Information 6.1. BERS Prepaid Pension Update Subject 6.2. Proposal Summary - RFQ Actuarial Services Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 6. Administrative Update Department Retirement Administration Type Discussion Information 6.2. Proposal Summary - RFQ Actuarial Services Subject 6.2. a. Summary document Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 6. Administrative Update Department Retirement Administration Type Discussion Information 6.2. a. Summary document Subject 6.2. b. Bid documents from respondents Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 6. Administrative Update Department Retirement Administration Type Discussion Information 6.2. b. Bid documents from respondents 7. Fiducient 7. Fiducient Subject 7.1. Monthly Performance Update - October 2025 Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 7. Fiducient Department Retirement Administration Type Discussion Information 7.1. Monthly Performance Update - October 2025 Motion made by Board Member Mount, seconded by Board Member Dalla Mura, to not change policy with regard to UBS Trubull at this time. Motion passed unanimously. 8. Adjournment 8. Adjournment Subject 8.1. Motion to adjourn Meeting November 17, 2025 - Retirement Board Meeting - Monday, November 17, 2025, 9:30 AM, Bushor Conference Room, 149 Church Street, 1st Floor Category 8. Adjournment Department Retirement Administration Type Action Procedural Recommended Action Motion to adjourn 8.1. Motion to adjourn Motion made by Board Member Mount, seconded by Board Member Olsen, to adjourn the meeting at 10:32 am. Motion passed unanimously.