Pension Board

PENSION BOARD 11/7/2024 MINUTES OF A REGULAR MEETING OF THE BOARD OF TRUSTEES FOR THE RETIREMENT SYSTEM (i.e. The Board) OF THE CITY OF GROSSE POINTE WOODS, HELD ON THURSDAY, NOVEMBER 7, 2024, IN THE CONFERENCE ROOM OF THE MUNICIPAL BUILDING, 20025 MACK PLAZA, GROSSE POINTE WOODS, MICHIGAN. The meeting was called to order at 6:35 p.m. by Chairperson Mayor Arthur Bryant. The following members were present: Chairperson Mayor Arthur Bryant General Employee Representative Jeremy Bastien Citizen Representative Gary Zarb Public Safety Representative Brian Conigliaro Also present: Pension Administrator, Steven Schmidt Pension Attorney, Michael Vanoverbeke Fund Evaluation Group (FEG), Jeffrey Davis Recording Secretary, Tina Hoenicke Motion by Conigliaro, supported by Zarb to excuse Council Representative Victoria Granger. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Motion by Conigliaro, supported by Bastien that all items on today’s agenda be received and placed on file. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Motion by Zarb, supported by Conigliaro to accept and place on file the minutes of the pension board meeting dated August 1, 2024 as presented. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Pension Board Meeting 11/7/2024 Page 2 Motion by Zarb, supported by Conigliaro to receive and place on file the trial balance report as presented through September 30, 2024. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Motion by Zarb, supported by Conigliaro to refund unvested pension contributions, with interest, to Mr. Shane Hockley (DPS) in the amount of $2,422.52. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Motion by Zarb, supported by Bastien to receive and place on file the 3rd Quarter Investment Report from FEG ending September 30, 2024. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Pension Attorney, Michael Vanoverbeke reviewed a draft of the Eligible Domestic Relations Order (EDRO) policy, discussed the issue with the board and will bring a final draft to the next meeting. Motion by Zarb, supported by Bastien to approve payment for invoices 9.a. through 9.e.; FEG in the amount of $14,234.00, Comerica in the amount of $1,500.00, Foster & Foster Actuaries and Consultants in the amount of $16,786.00, Mapers renewal in the amount of $200.00 and VanOverbeke, Michaud & Timmony, P.C. in the amount of $671.40. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger New Business/Public Comment: Pension Administrator, Steven Schmidt congratulated Brian Conigliaro on his re-election as Public Safety Representative. Pension Board 11/7/2024 Page 3 Motion by Zarb, supported by Bastien to adjourn at 7:14 pm. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Granger Minutes recorded by: Tina Hoenicke Approved by the Pension Board: _______________________________ Steven Schmidt, Pension Administrator