Police & Fire Retirement System

CITY OF MADISON HEIGHTS POLICE & FIRE RETIREMENT SYSTEM SPECIAL SCHEDULED TRUSTEE MEETING July 23, 2024 The special meeting of the City of Madison Heights Policemen & Firemen Retirement System Board of Trustees was held on Tuesday, July 23, 2024, at 12:30 p.m. at 31313 Brush Street, Madison Heights, Michigan. Present: Chairperson, Jeff Geralds Board Members: Linda Kunath, Brett Moore, Anthony Roberts, and Gary Strongarone Others Present: Retirement System Attorney Thomas Michaud 1-25 Approval of Minutes of the Regular meeting of June 26, 2024. Motion by Trustee Moore and supported by Trustee Roberts to approve minutes of the regular meeting of June 26, 2024. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. Meeting Open to the Public No items were discussed. Disability Retirement Application – Spangler C. The disability retirement application of Carey Spangler was discussed. 2-25 Receive and File Additional Document from MMRO And Direct Administration. Motion by Trustee Roberts supported by Trustee Strongarone to receive and file additional document from MMRO and direct administration to work with MMRO and member doctor to form a medical committee and schedule a meeting with a third doctor for evaluation. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. 3-25 Invoice Approval. Motion by Trustee Roberts supported by Trustee Moore to approve invoice from MMRO in the amount of $350.00. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. 4-25 Invoice Approval. Motion by Trustee Strongarone supported by Trustee Roberts to approve invoice from VanOverbeke, Michaud& Timmony P.C. in the amount of $4,855,00. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. 1 07/23/2024 5-25 Request for Withdrawal of Accumulated Contributions – Bell M. Motion by Trustee Roberts supported by Trustee Strongarone to request for withdrawal of accumulated contributions for Matthew Bell. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. 6-25 Request for Withdrawal of Accumulated Contributions – Cobus K. Motion by Trustee Roberts supported by Trustee Strongarone to request for withdrawal of accumulated contributions for Kyle Cobus. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. 7-25 Approval of Actuary Experience Review for Retirement System. System costs developed in the annual actuarial valuations are based upon various assumptions about future occurrences. The results of the valuation are reliable only if the underlying assumptions are reasonable. These assumptions are recommended by the actuary and approved by the Board. It is the actuary’s responsibility to periodically review the assumptions for reasonableness by comparing them to actual experience. Public Act (PA) 202 requires periodic experience review. Motion by Trustee Roberts supported by Trustee Strongarone to approve actuary experience review for retirement system. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. New Business. The Fall MAPERS conference was discussed. The Retirement System is not a member of MAPERS and active Board members will be required to use paid leave time to attend. Information and training is available on the MAPERS website to anyone. 8-25 Adjournment. Motion by Trustee Moore to adjourn the meeting. Yeas: Geralds, Kunath, Moore, Roberts, Strongarone Nays: None Motion Carried. Meeting was adjourned at 12:56 p.m. Respectfully submitted, Linda A. Kunath, Secretary 2 07/23/2024