General Employees Retirement Board

OFFICIAL MINUTES OF REGULAR MEETING OF THE STERLING HEIGHTS GENERAL EMPLOYEE’S RETIREMENT SYSTEM Thursday October 18th, 2018 Location: Room #201 40555 Utica Road, Sterling Heights, MI 48313 (586) 446-2783 Chairperson Weiler called the meeting to order at 1:30 p.m. BOARD MEMBERS PRESENT: Richard Weiler, Chairperson Jennifer Varney, Secretary Todd Marsh, Trustee Paul Henig, Trustee Mary Jaganjac, Treasurer BOARD MEMBERS ABSENT: ALSO PRESENT: Tom Michaud, Legal Counsel Ryan Clark, Treasury Service Coordinator APPROVAL OF AGENDA: Motion by Marsh, supported by Jaganjac, to approve the agenda as presented. Ayes: All. Motion carried unanimously. APPROVAL OF MINUTES: Motion by Henig, supported by Varney, to approve the minutes of the regular meeting held September 20, 2018. Ayes: All. Motion carried unanimously. COMMUNICATION FROM CITIZENS: None REPORT FROM LEGAL COUNSEL Update regarding William Lang v Defendants; the case is dismissed in federal court. Board discussion ensued. CONSENT AGENDA: Motion by Henig, supported by Weiler, to receive and file consent items IA through IC 1-19 Ayes: All. Motion carried unanimously. 1 RECEIVE AND FILE: A. Benefit Register Listing for October 1, 2018 from Comerica Bank B. Cash and Assets Statement as of September 30, 2018 from Comerica Bank and Morgan Stanley C. Correspondence: Item Date Communication 1 Aug 20, 2018 Morgan Stanley updates to select UMA account Robbins Geller Rudman & Dowd Shareholder 2 Aug 31, 2018 Class Actions Email correspondence and letter sent to Morgan 4 Sep 17, 2018 Stanley dated regarding the transfer of funds for the payment of benefits. 5 Sep 17, 2018 Pension & Investments publication Morgan Stanley Confirmation of Personal and 6 Sep 22, 2018 Account Information 7 Sep 24, 2018 Morgan Stanley wire transfer confirmation 8 Sep 24, 2018 Morgan Stanley Retirement Plan Fee Changes Morgan Stanley General Correspondence XXX- 9 Sep 25, 2018 XX9769 - Change of Contact Information Morgan Stanley General Correspondence 10 Sep 25, 2018 Advisory Account Change Confirmation 11 Sep 25, 2018 Morgan Stanley Securities Trade Confirmation 12 Sep 30, 2018 Real Estate Investment Today publication 13 Sep 30, 2018 Employee Benefit News September publication 14 Oct 01, 2018 Pension & Investments publication Morgan Stanley Consolidated Trade 15 Oct 01, 2018 Confirmations Morgan Stanley General Correspondence 16 Oct 02, 2018 Advisory Account Change Confirmation 17 Oct 04, 2018 Morgan Stanley Securities Trade Confirmation Morgan Stanley DiamondBack Energy Offering 18 Oct 05, 2018 Memorandum 19 Oct 05, 2018 Morgan Stanley Securities Trade Confirmation REGULAR AGENDA: II. OLD BUSINESS: None III. NEW BUSINESS: A. Application for Service Retirement for Ann Piccolo, Secretary to the Chief, Police Clerical Motion by Henig, supported by Marsh, to approve application for Ann Piccolo Option B with Pop Up with Annuity Withdrawal benefits effective December 4, 2018 to be processed and that final calculation request be sent to actuary upon departure once leave banks payout and FAC can be calculated. B. Pension Administration Comments 2  The Brice Group will not be able to attend the November 14th combined monthly & quarterly board meeting. Board approved moving the date to November 28th. C. Trustee Comments ADJOURN: Motion by Marsh, supported by Henig, to adjourn the meeting at 1:48 p.m. Ayes: All. Motion carried unanimously. Respectfully Submitted, ___________________________________ Jennifer Varney, Secretary 3