Police & Fire Retirement System

CITY OF MADISON HEIGHTS POLICE & FIRE RETIREMENT SYSTEM SPECIAL SCHEDULED TRUSTEE MEETING April 13, 2023 The Meeting of the City of Madison Heights Policemen & Firemen Retirement System Board of Trustees was held on Thursday, April 13, 2023, at 12:42 p.m. at 31313 Brush Street, Madison Heights, Michigan. Present: Chairperson, Jeff Geralds Board Members: Kevin Barrett, Eric Bissinger, Linda Kunath, Anthony Roberts Others Present: Retirement System Attorney Thomas Michaud Gabriel, Roeder, Smith & Company (12:43 a.m. to 1:40 p.m.) Brad Armstrong, Louise Gates, Jamal Adora Cavanaugh Macdonald Consulting LLC (1:42 p.m. to 2:45 p.m.) Larry Langer, Wendy Ludbrook, Ryan Gundersen Foster & Foster Actuaries and Consultants (2:53 p.m. to 3:57 p.m.) Jason Franken Meeting Open to the Public No items were discussed. Interviews for RFI – Actuary Consulting Services The Board heard presentations from representatives of Gabriel, Roeder, Smith & Company, Cavanaugh Macdonald Consulting, LLC, and Foster & Foster Actuaries and Consultants. Gabriel, Roeder, Smith & Company representatives highlighted knowledge of actuarial service requirements, team qualifications, clients in U.S. and Michigan, and familiarity with Madison Heights plans. Cavanaugh Macdonald Consulting LLC representatives presented team qualifications and approach to actuarial services in Michigan and other States, highlighted report format and timing of report production, and knowledge of actuary requirements and application. Foster & Foster Actuaries and Consultants representative presented information about clients in U.S. and Michigan, knowledge of actuarial service requirements and compliance, hierarchy of team that will be assigned to Madison Heights services and internal quality review of reports. A break from 3:58 p.m. to 4:03 p.m. was taken by Board members. The Board agreed to discuss the RFI – Actuary Consulting Services proposals, the presentations of those interviewed, and selecting a vendor for consulting services at the next regular scheduled meeting on April 18, 2023. 40 -23 Adjournment Motion by Trustee Roberts and supported by Trustee Barrett to adjourn the meeting. Yeas: Barrett, Bissinger, Geralds, Kunath, Roberts Nays: None Motion Carried. Meeting was adjourned at 4:06 p.m. Respectfully submitted, Linda A. Kunath, Secretary 1 04/13/2023