Police Officer's & Firefighter's Retirement System

Minutes April 10, 2025 1. Call to Order Setser called the meeting to order at 8:30 a.m. The meeting was held at the Busch Municipal Building, 840 Boonville Avenue. Minutes taken by White. Attendance Members Representation Present Absent Justin Setser President X Charles Alexander Police X Jamie Frieze Fire X Ron Hoffman Retiree X Chad Munsey Citizen X Laura Robinson Citizen X Andy Stewart Citizen X Jonathan Winn Citizen X Ann Young Citizen X Andrew McPherson (NV) Retiree X Mark Phillips (NV) Fire X Bryan Welch (NV) Police X David Holtmann (NV) Finance X Matt Simpson (NV) City Council Liaison X Tony Kelley (NV) Administrative Director X Nikki White (NV) Secretary X NV = non-voting Lance Roskens was also present. 2. Approval of Meeting Minutes – March 13, 2025 McPherson made a motion to approve the March 13, 2025 minutes as presented; 2nd by Young. Vote all: Yes. Page 1 of 4 04/10/2025 3. Approval of Financial Statement Ending February 28, 2025 • The cash and short-term investments balance at the end of February was $2,749,810. The cash – UMB investments balance was $27,309,627. • IRM increased $3,024,119. The fund returned 2.23% compared to the index return of 2.20%. • Acadian Emerging Markets increased $10,145. The fund returned 0.05% compared to the index return of 0.50%. • Brandes increased $729,659. The fund returned 3.78% compared to the index of -0.29%. • Entrust Capital Diversified increased $50,678. The fund returned 10.35% compared to the index of 2.20%. • Fidelity INTL Index had an increase of $1,989,083. The fund returned 2.84% compared to the index of 1.90%. • IFM had an increase of $83,687. The fund returned 0.35% compared to the index of 2.00%. • Loomis Sayles had an increase of $1,599,433. The fund returned 2.44 % compared to the index return of 2.20%. • LGT had an increase of $3,692. The fund returned 1.87% compared to the index return of -1.90%. • Black Rock Russell decreased ($2,127,045). The return was -0.93% compared to the index of -1.90%. • Baird Core Plus increased by $31,774,464. The return was 1.74% compared to the index of 2.20%. $28.6 million was moved from Blackstone and $1.5 million from cash. • Employee contributions for the month totaled $82,566 and employer contributions totaled $158,073. The Public Safety Sales Tax totaled $4,434,813. • Gain/Loss in market value, including managers’ fees, was $4,062,554 for the month. Total additions were $8,738,006. • Benefit payments totaled $3,284,821. Return of contributions totaled $1,669,411. Administrative expenses totaled $30,595. Net increase to the Plan was $3,753,179. • Total Net Assets at the end of February were $729,718,000. Alexander made a motion to approve the financials ending February 28, 2025; 2nd by Munsey. Vote all: Yes. Page 2 of 4 04/10/2025 4. Review of Applications Retiree’s Name Application Type Application Date Retirement Date Department Jason Marcum Age & Service 03/25/2025 05/15/2025 Police Jason Williams Age & Service 03/30/2025 05/30/2025 Fire Jonathan Shuck Age & Service 04/03/2025 05/29/2025 Police Larry Flett Surviving Spouse 04/02/2025 N/A Police Lee Walker Age & Service 04/01/2025 05/30/2025 Police Mark Phillips Age & Service 03/11/2025 04/19/2025 Fire Munsey made a motion to accept the applications as presented; 2nd by Robinson. Vote all: Yes. 5. Review of Calculations Type Years of Monthly Pension Partial Pension Name Service Amount Amount Brady Chandler Survivor’s Final Pay N/A $3,304.95 $1,599.17 Larry Flett Final Pay 9.5 $4,168.63 $3,227.33 Larry Flett Surviving Spouse 9.5 $1,909.36 $431.15 Timothy Hendrix Age & Service 20.86 $4,357.31 $2,108.38 Don Pippen Surviving Spouse 17.47 $2,836.25 N/A (corrected) Munsey made a motion to accept the calculations as presented above; 2nd by Robinson. Vote all: Yes. 6. Approval of Return of Contributions Name Type Years of Service ROC Timothy Hendrix Age & Service 20.86 $169,980.34 Munsey made a motion to accept the return of contribution as presented above; 2nd by Robinson. Vote all: Yes. 7. Administrative Director’s Report Kelley reported on the following items: • MAPERS registration is now open. • We are seeing an increase in Sunshine Law requests. This could be because people are now using AI to scrub the internet for key words. • Air Service time was approved by Council. • Young and Winn’s terms are up, but both have the option to be reappointed to a second term. They have agreed and will remain on the Board. Robinson made a motion to approve the Nixon & Lindstrom invoice in the amount of $2,750 for White’s bond renewal; 2nd by Young. Vote: all voted yes except for Munsey who abstained. Page 3 of 4 04/10/2025  Phillips made a motion to appoint Setser for another term as president of the Board; 2nd by Munsey. Vote all: Yes. 8. Legal Matters – Closed Session, pursuant to Section 610.021, RS MO. McPherson made a motion to move to closed session at 8:59 a.m. pursuant to Section 610.021(1, 12 and 14) RSMo.; 2nd by Young. Vote Yes: Alexander, McPherson, Munsey, Phillips, Robinson, Setser, Winn and Young. Vote no: none. Open session resumed at 9:26 a.m. 9. Adjournment Phillips made a motion to adjourn the meeting; 2nd by Alexander. Vote all: Yes. The meeting adjourned at 9:30 a.m. on April 10, 2025. Page 4 of 4 04/10/2025