Employees' Retirement System

CITY OF HIALEAH EMPLOYEES' RETIREMENT SYSTEM Board Chairman Board Members Robert W. Williams III Michael Rosengaus Board Vice Chairman Manuel Ferrera Jonathan A. Martinez Robert W. Williams Board Secretary Gelien Perez MinyingHo Board Attorney Stuart Kaufman SUMMARY OF SPECIAL MEETING OF THE BOARD OF TRUSTEES MAY 29, 2018 1:30 P.M. CITY OF HIALEAH COUNCIL CHAMBERS Robert W. Williams III, Chairman Present Jonathan A. Martinez, Vice Chairman Present Min Ying Ho, Secretary Present Robert W. Williams Present Gelien Perez Present Manuel R. Ferrera Absent Michael Rosengaus Present Stuart Kaufman; Board Attorney Present Grisell Aedo, Clerk of the Board Present Moment of Silence Led by Mr. R. Williams Ill Withdrawals, Deferrals or Additions Roll Call Public Comments TELEPHONE: (305) 883-5872 Special Retirement Board Summary Agenda May 29, 2018 Item 1 Discussion and possible approval Actuarial Valuation Report as of October 1, 2017. MOTION by Mr. Martinez, seconded by Mr. R. Williams, as follows: "To approve Item 1 Actuarial Valuation Report". MOTION carried a 6-0-1 vote with M. Ho, G. Perez, B. Williams, Martinez, R. Williams and Rosengaus voting "Yes", Ferrera absent. Item 2 Discussion and possible approval of interest credit from 10/1/16 to 9/30/17. MOTION by Mr. Rosengaus, seconded by Mr. Martinez, as follows: "To approve interest credit of 8.46°/o for the 2017/2018 plan year, less $200,000 amount subtracted." MOTION carried a 6-0-1 vote with M. Ho, G. Perez, B. Williams, Martinez, R. Williams and Rosengaus voting "Yes", Ferrera absent.· Item 3 Discussion and possible approval of experience study by Foster and Foster. MOTION by Mr. R. Williams, seconded by Mr. Martinez, as follows: "To approve Item 3 approval of experience study by Foster and Foster". MOTION carried a 6-0-1 vote with M. Ho, G. Perez, B. Williams, Martinez, R. Williams and Rosengaus voting "Yes", Ferrera absent. 2 Special Retirement Board Summary Agenda May 29, 2018 New Business: There being no further business, the meeting adjourned at 2:58P.M. Input from Active and Retired Members: · Persons wishing to appeal any decision made by the Board with respect to any matter considered at this meeting will need a record of the proceedings, and, for such purposes, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony upon which the appeal is to be based. In accordance with the Americans with Disabilities Act of 1990, persons needing special accommodation to participate in this proceeding should contact the Office of the City Clerk at (305) 883-5820 for assistance no later than seven (7) days prior to the proceeding; if hearing impaired, telephone the Florida Relay Service at (800) 955-8771 (TDD), (877) 955-8773 (Spanish) or (800) 955-8770 (Voice). This meeting may be conducted by means of, or in conjunction with, communications media technology, specifically a telephone conference call. The above location, which is open to the public, shall serve as an access point. Persons wishing to attend should appear at the access point, where access to the meeting will be provided. 3