Police and Fire Retirement Board

Item 4 A. August 13, 2024 CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING July 9, 2024 Page 1 of 4 The regular meeting of the Center Line Police and Fire Retirement Commission was called to order at 3:00 p.m. by Vice-chairman Bermudez. Members Present: Richard Stys, Gregory Suma, and Jorge Bermudez. Members Absent: David Allen and Gregory Pearl. Also Present: None. AGENDA ITEM 2. – Approval of the Agenda: A. Approval of Agenda: July 9, 2024 with an addendum: A motion by Trustee Stys to approve the July 9, 2024 agenda with an addendum was seconded by Trustee Suma. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. AGENDA ITEM 3 – Public Comment Seeing there was no one in the audience this item was closed. AGENDA ITEM 4 – Approval of the minutes A. Approval of the Regular Meeting minutes held on June 18, 2024. A motion by Trustee Stys to approve the minutes was seconded by Trustee Suma. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. AGENDA ITEM 5 – Remembrances of deceased Members and Beneficiaries: A. None. AGENDA ITEM 6 – Presentations: A. None.  Item 4 A. August 13, 2024 CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING July 9, 2024 Page 2 of 4 AGENDA ITEM 7 - For Your Information: A. The Encore Fiduciary Liability Insurance policy covering the period of July 1, 2024 through July 1, 2025. A motion by Trustee Suma was seconded by Trustee Stys to receive and file this item. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. B. June 25, 2024 email from Brianna at Morgan Stanley regarding the New World Fund of the American Funds and a fact sheet about the Fund. Trustee Suma said at the last meeting he wanted Mr. Brice to look into the guidelines of this Fund investing in the Americas as it is an emerging markets manager. Mr. Brice said they are within their parameters for exposure there. Trustees Stys commented that Mr. Brice is giving his blessing then. A motion by Trustee Suma was seconded by Trustee Stys to receive and file this item. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. C. Correspondence from Gregory T. Suma to Timothy Brice dated June 26, 2024, authorizing the termination of Harding Loevner, an emerging markets money manager and hiring the American Funds New World Fund. Trustee Suma said that after Mr. Brice looked into the Fund the Commission gave him the authority to go ahead with the termination and hiring of the new manager. A motion by Trustee Suma was seconded by Trustee Stys to receive and file this item. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. D. Correspondence from Gregory T. Suma to Timothy Brice dated June 26, 2024, Re: Asset reallocation to Blackstone Private Credit and Tortoise Energy  Item 4 A. August 13, 2024 CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING July 9, 2024 Page 3 of 4 Infrastructure. A motion by Trustee Suma was seconded by Trustee Stys to receive and file this item. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. AGENDA ITEM 8 – Old Business: A. None. AGENDA ITEM 9 – New Business: A. None. AGENDA ITEM 10 – Retirements: A. None. AGENDA ITEM 11 – Annuity Withdrawals: A. None. AGENDA ITEM 12 – Approval of Pension Figures: A. None. AGENDA ITEM 13 – Vouchers: A. June 25, 2024, pensions paid: Pay Report 549 ~ $ 127,233.98. A motion by Trustee Stys to pay the June 25, 2024 pensions was seconded by Trustee Suma. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. B. Gabriel, Roeder, Smith & Co. Invoice # 486967, Dated: June 10, 2024 December 31, Actuarial Valuation report and 2023 Summary Annual Report ~  Item 4 A. August 13, 2024 CENTER LINE POLICE & FIRE RETIREMENT COMMISSION MINUTES REGULAR MEETING July 9, 2024 Page 4 of 4 $ 12,000.00. A motion by Trustee Stys to pay the Gabriel, Roeder, Smith & Co. invoice was seconded by Trustee Suma. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl. AGENDA ITEM 14. - Commission Members Comments: None. AGENDA ITEM 15 – Adjournment: As there was no further business to discuss, a motion by Trustee Suma and supported by Trustee Stys that the meeting be adjourned at 3:07 p.m. AYES: 3 NAYS: None Motion carried 3 - 0. ABSENT: David Allen and Gregory Pearl.