Police and Fire Retirement Board

'1/9[ CENTER LINE POLICE & FIRF, RETIREMENT COMMISSION by/or/iy MINUTES REGULAR MEETING June 11, 2019 Page 1 of 6 The regular meeting of the Center Line Police and Fire Pension Board was called to order at 2:30 p.m. by Gregory Suma. Members Present: Bernadette Helkowski, Deputy Treasurer Gregory Suma and Richard Stys. Members Absent: Danny Petroff, Michael Gerald. Also Present: Shana Neeson from Gabriel, Roeder, Smith & Co. AGENDA ITEM 2 A. - Approval of the Aqenda Motion by Trustee Stys to approve the agenda was seconded by Trustee Helkowski. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. AGENDA ITEM 3 - Public Comment Seeing there was no in the audience this item was closed. AGENDA ITEM 4 - Approval of the minutes A. Approval of the Regular Meeting Minutes held on May 14, 2019. A motion by Trustee Helkowski to approve the minutes was seconded by Trustee Stys. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. AGENDA ITEM 5 - Remembrances A. Stella Mainero deceased: April 20, 2019, spouse of James Mainero. Gregory Suma asked for a moment of silence. AGENDA ITEM 6 - Presentations: A. Shana Neeson from GRS Re: Assumption Study for the Police and Fire Retirement System for the Year Ending December 31, 20'l7. Follow-up with the requested Alternate 3 scenario. Shana Neeson said typically plans should have an experience study completed every five years. The assumed interest rate and mortality assumptions were focused on in this study. Actuarially methods, economic assumptions and demographic assumptions were also reviewed for this report. Actuarially Standards of Practices No. 27 (ASOP 27) was used in  CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING June 11, 2019 Page 3 of 6 AGENDA ITEM 9 - New Business A. Resolution to adopt Fiscal Year 2020 Budget for the City of Center Line Police and Fire Retirement System. The Public Hearing on this item was earlier in this meeting and no one attended so now the Commission can take action on the item. Trustee Stys asked how much did the Advertisement in the Warren Weekly cost. Mrs. Pockrandt entered the meeting and said it was $ 89.04. Some of the line items were discussed like conferences. Motion by Trustee Stys to adopt the Budget FY 2020 Resolution was seconded by Trustee Helkowski. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. B. Renewal of Fiduciary Liability Insurance from July 1, 2019 through July 1, 2020. Nickel & Saph, Inc.: Hudson Insurance Company Annual Premium - Indemnifiable and non-indemnifiable - $ 5,335.00. Trustee Suma said this is the exact same policy as last year and the premium is the same as last year. A motion by Trustee Helkowski to renew the Fiduciary Liability Insurance policy for $ 5.335.00 Was seconded by Trustee Stys. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. C. Discussion on seeking reimbursement for EDRO actuarial fees in Costello vs. Donnelly. i. Eligible Domestic Relations Order (EDRO) Resolution and policy adopted October 9, 1996. ii. Procedural Steps with Receipt of EDRO. iii. Prior letter sent to both parties in the Gravis EDRO and copy of check received. iv. Correspondence sent March 6, 2019 to Thomas Costello and Kasey Donnelly seeking EDRO actuarially fees of $ 900.00 from both parties. v. Second request letters sent via certified mail on May 20, 20'l9 seeking  CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING June 11, 2019 Page 4 of 6 reimbursement from Thomas Costello and Kasey Donnelly. Trustee Suma said he was investigating all items related to Eligible Domestic Relations Orders this Commission has dealt with in the past. Item 9C appears to have been drafted under a resolution in 1994. Item 9Ci, the EDRO Resolution and policy adopted on October 9, 1996 rescinded all prior actions the Commission adopted on EDRO's. Trustee Suma said he would like to draft a new Procedural Steps with Receipt of EDRO document and bring it back to the Commission for action. Trustee Suma said this week he did receive $ 900.00 from Kasey Donnelly for reimbursement of the EDRO fees. A motion by Trustee Helkowski and seconded by Trustee Stys that under the EDRO Policy adopted on October 9, 1996 under section 2C, that we send a certified letter to Mr. Costello that if we do not receive the $ 900.00 by the next pension payroll that we will withhold it from his June 25, 2019 pension check. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. A motion by Trustee Helkowski and seconded by Trustee Stys to have Trustee Suma provide a more current EDRO procedural steps under the EDRO policy adopted October 9, 1996 and bring it back to the Commission for action. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. AGENDA ITEM 10 - Retirements A. None AGENDA ITEM I I - Annuity Withdrawals A. None AGENDA ITEM 12 - Approval of Pension Fiqures A. None AGENDA ITEM 13 - Vouchers A. May 24, 2019 pensions paid: Pay Report 3'l7 - $109,152.54 Motion by Trustee Stys supported by Trustee Helkowski to approve the May 24, 2019 pension Pay Report 317 for $109,152.54.  CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING June 11, 2019 Page 5 of 6 AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. B. GRS Re: Assumption Study for the Police and Fire Retirement System for the Year Ending December 31, 2017. Alternate 3 scenario. Invoice No. 446465 Dated: May 3, 2019 - $1,200.00. Motion by Trustee Stys supported by Trustee Helkowski to approve the invoice of $1,200.00. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. C. Discussion on GRS invoice # 446590 dated: May 9, 2019 for Final EDRO calculation for Costello vs. Donnelly - $1,200.00. Email response from Shana Neeson reducing the invoice to $ 600.00 and GRS Standard EDRO Fee Schedule July 1, 2018 - June 30, 20'l9. Trustee Suma inquired with Shana Neeson why the original EDRO invoice was so high for the final retirement calculation. She agreed to a one-time reduction to $ 600.00 and provided the GRS EDRO fee schedule. The Commission has never received the attached schedule in the past. This should be added to the procedural steps document that Trustee Suma will be working on. Trustee Stys mentioned that the procedural steps going forward should state that all fees should be paid to the Commission prior to any pension benefit checks written. And if the Commission does not receive the reimbursements before any pension checks are written that the reimbursements will be deducted from their pension benefits. In this instance, Trustee Suma conveyed that the final calculation of Thomas Costello's pension would be paid for under the normal course of business and because we did not have an GRS EDRO fee schedule, consideration should be given to pay invoice # 446590 for $ eioo.oo. A motion by Trustee Helkowski and seconded by Trustee Stys to pay the invoice # 446590 for $ 600.00. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. AGENDA ITEM 14 - Commission Members Comments Trustee Helkowski complimented Trustee Suma on the wonderful job he does with the retirement system and pension matters.  CENTER LINE POLICE & FIRE RETIRF,MENT COMMISSION MINUTES REGULAR MEETING June 11, 2019 Page 6 of 6 AGENDA ITEM 15 - Adjiournment As there was no further business to discuss, a motion by Helkowski and supported by Trustee Stys that the meeting be adjourned at 319 p.m. AYES:3 NAYS: None Motion carried 3 - 0. ABSENT: Danny Petroff, Michael Gerald. Mi:nutesApprovedAt F,, 2"/7 ? 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