Police Officer's & Firefighter's Retirement System

Minutes July 17, 2025 1. Call to Order Setser called the meeting to order at 8:31 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 Bryan Welch (NV) Police X Callie Carroll (NV) City Council Liaison X David Holtmann (NV) Finance 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 – June 11, 2025 Alexander made a motion to approve the June 11, 2025 minutes as presented; 2nd by McPherson. Vote all: Yes. 3. Approval of Financial Statement Ending May 31, 2025 The cash and short-term investments balance at the end of May was $3,547,032. The cash – UMB investments balance was $29,117,106. Page 1 of 4 07/17/2025  • IRM increased $1,247,032. The fund returned 0.90% compared to the index return of -0.70%. • Acadian Emerging Markets increased $892,897. The fund returned 4.55% compared to the index return of 4.30%. • Brandes increased $1,815,051. The fund returned 8.62% compared to the index of 5.61%. • Entrust Global Recovery Fund - there was a distribution of $221,000 to cash. • Blue Ocean – there was a distribution of $949,000 to cash. • Marathon – there was a distribution of $682,000 to cash. • Fidelity INTL Index had an increase of $3,433,213. The fund returned 4.51% compared to the index of 4.60%. • IFM had a decrease of ($72,971). The fund returned -0.30% compared to the index of 1.80%. • Loomis Sayles had a decrease of ($376,087). The fund returned -0.56% compared to the index return of -0.70%. • LGT had an increase of $73,868. The fund returned 0.39% compared to the index return of 6.30%. • Black Rock Russell increased $9,992,805. The return was 6.69% compared to the index of 6.30%. • Baird Core Plus decreased ($751,167). The return was -0.79% compared to the index of -0.70%. • Employee contributions for the month totaled $87,994 and employer contributions totaled $166,701. The Public Safety Sales Tax totaled $3,515,020. • Gain/Loss in market value, including managers’ fees, was $16,354,165 for the month. Total additions were $20,124,880. • Benefit payments totaled $3,262,826. Return of contributions totaled $135,048. Administrative expenses totaled $44,834. Net increase to the Plan was $16,682,172. • Total Net Assets at the end of May were $739,287,078. Stewart made a motion to approve the financials ending May 31, 2025; 2nd by Munsey. Vote all: Yes. 4. Review of Applications Retiree’s Name Application Type Application Retirement Date Department Date Benjamin Rauch Age & Service 06/10//2025 08/08/2025 Police Daniel Tscherny Age & Service 05/16/2025 07/21/2025 Fire Page 2 of 4 07/17/2025  David Haines Age & Service 06/19/2025 10/03/2025 Police Henry Gibson Surviving Spouse 07/05/2025 N/A Police Jeffrey Prior Age & Service 06/04/2025 08/25/2025 Fire Kenneth Browning Surviving Spouse 06/11/2025 N/A Police Gary Highbarger Surviving Spouse 06/06/2025 N/A Police Alexander made a motion to accept the applications as presented; 2nd by McPherson. Vote all: Yes. 5. Review of Calculations Type Years of Monthly Pension Partial Pension Name Service Amount Amount Chad Sullivan Age & Service 20.14 $4,679.48 $1,358.56 Chelsea Taylor Age & Service 25.00 $5,494.87 $177.25 Gary Highbarger Final Pay 8.49 $2,735.69 $547.14 Gary Highbarger Surviving Spouse 8.49 $1,973.59 $1,578.87 Henry Gibson Surviving Spouse 21.83 $3,238.91 $2,051.31 Jason Williams Age & Service 22.98 $6,239.20 $201.26 Jonathan Shuck Age & Service 25.00 $6,353.84 $409.93 Kenneth Browning Surviving Spouse 20.00 $3,280.39 $3,061.70 Lee Walker Age & Service 25.00 $6,656.05 $214.71 Michael Karnes Age & Service 25.00 $7,319.09 $975.88 Alexander made a motion to accept the calculations as presented above; 2nd by McPherson. Vote all: Yes. 6. Approval of Return of Contributions Name Type Years of Service ROC Lee Walker Age & Service + buyback 21.10 + 3.90 $143,999.60 Chad Sullivan Age & Service 20.00 $159,984.00 Johnathan Shuck Age & Service + buyback 23.66 + 1.34 $218,107.05 Jason Williams Age & Service 23.00 $216,149.26 Chelsea Taylor Age & Service + buyback 21.33 + 3.66 $139,396.86 Michael Karnes Age & Service + buyback 22.00 + 3.00 $228,166.47 Alexander made a motion to accept the return of contribution as presented above; 2nd by McPherson. Vote all: Yes. 7. Administrative Director’s Report Kelley reported on the following items: • HR will be hosting a pre-retirement seminar on August 19th. • The Ares contract is complete. The first contribution was made on July 1st. • House Bill 147 was signed by the Governor and will go into effect in August. Page 3 of 4 07/17/2025 8. Non-voting Fire Representative Nominations White reported that Chad Davis was nominated for the position. Munsey made a motion to accept Chad Davis’ nomination for the non-voting fire representative; 2nd by Alexander. Vote all: Yes. 9. Board Structure & Terms Alexander made a motion to recommend the following to Council: • Allow reinstated members to run as either an active or retiree trustee but must choose to run for one or the other. • Active members nominations take precedence over reinstated members for active member trustee positions. • Only active members are allowed to vote for active member trustee positions. • If an active member trustee retires with the intent to reinstate, they will have a 60-day window to reinstate or they will have to relinquish their position. The motion was seconded by Munsey. Vote all: Yes. 10. Legal Matters – Closed Session, pursuant to Section 610.021, RS MO. McPherson made a motion to move to closed session at 8:56 a.m. pursuant to Section 610.021(1 and 14) RSMo.; 2nd by Stewart. Vote Yes: Alexander, McPherson, Munsey, Setser, Stewart, and Young. Vote no: none. Open session resumed at 9:03 a.m. 11. Adjournment McPherson made a motion to adjourn the meeting; 2nd by Munsey. Vote all: Yes. The meeting adjourned at 9:04 a.m. on July 17, 2025. Page 4 of 4 07/17/2025