Pension Board Meeting

PENSION BOARD 11/6/2025 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 6, 2025, IN THE CONFERENCE ROOM OF THE MUNICIPAL BUILDING, 20025 MACK PLAZA, GROSSE POINTE WOODS, MICHIGAN. The meeting was called to order at 6:02 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, Tom Michaud Fund Evaluation Group (FEG), Jeffrey Davis Recording Secretary, Tina Hoenicke Motion by Zarb, supported by Bastien to excuse Council Representative Jim Motschall. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Motion by Zarb, 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: Motschall Motion by Zarb, supported by Bastien to accept and place on file the minutes of the pension board meeting dated August 7, 2025 as presented. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Pension Board Meeting 11/6/2025 Page 2 Motion by Bastien, supported by Zarb to receive and place on file the trial balance report as presented through September 30, 2025. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Motion by Bastien, supported by Zarb to refund unvested pension contributions, with interest, to Mr. Jarod Smith (DPS) in the amount of $43,180.13. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Motion by Conigliaro, supported by Zarb to receive and place on file the 3rd Quarter Investment Report from FEG ending September 30, 2025. No changes to the plan are recommended at this time. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Motion by Gary, supported by Conigliaro to approve payment for invoices 8.a through 8.d.; FEG in the amount of $15,022.00, Foster & Foster Actuaries and Consultants in the amount of $17,181.00, VanOverbeke, Michaud & Timmony, P.C. in the amount of $1,308.90 and Comerica in the amount of $1,500.00. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall New Business/Public Comment: Motion by Zarb, supported by Bastien to approve payment for MAPERS 2026 Membership Renewal in the amount of $200.00. Pension Board 11/6/2025 Page 3 Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Pension Administrator, Steve Schmidt stated that the pension ordinance in regard to survivor’s benefits and spousal requirements will be updated to remove separate requirements for male vs female spousal benefits. The revision will be sent to City Council to authorize when our pension attorney finalizes the revision. Motion by Zarb, supported by Congiliaro to adjourn at 6:24 pm. Motion CARRIED by the following vote: YES: Bryant, Bastien, Conigliaro, Zarb NO: None ABSENT: Motschall Minutes recorded by: Tina Hoenicke Approved by the Pension Board: _______________________________ Steven Schmidt, Pension Administrator