General Employees Retirement Board

AGENDA QUARTERLY MEETING – GENERAL EMPLOYEES’ RETIREMENT SYSTEM June 18, 2020 at 1:30PM “With Executive Order 2020-4, Governor Whitmer declared a statewide state of emergency due to the spread of the novel coronavirus (COVID-19). This is a new strain of coronavirus that had not been previously identified in humans, can easily spread from person to person, and can result in serious illness or death. To mitigate the spread of COVID-19 and to provide essential protections to vulnerable Michiganders and this state’s health care system and other critical infrastructure, it is crucial that all Michiganders take steps to limit in-person contact, particularly in the context of large groups. Therefore, this meeting will be conducted via conference call.” In order to dial in, any mobile or stationary telephone system will work. To accomplish accessing the conference call, use the “External Dial-In” number and wait for the prompt to dial in the “Pin Code”, both listed directly below. External Dial-In: 586-446-2663 (586-446-CONF) Internal Dial-In: 2663 (CONF) PIN Code: 4462783 (586) 446-2783 CALL TO ORDER ROLL CALL APPROVAL OF AGENDA APPROVAL OF MINUTES - Quarterly Meeting of May 21, 2020 COMMUNICATION FROM CITIZENS To communicate your concerns or comments on the meeting, please speak when this line item is reviewed or during general discussion as thoughts and feedback arise. The City of Sterling Heights will provide necessary reasonable auxiliary aids and services to individuals with disabilities at the meeting upon 7 days’ notice to the Community Relations Department at 446-CITY. P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.06\20.06 Agenda.docx 1 REPORT FROM LEGAL COUNSEL CONSENT AGENDA - Consent Items I.A through I.D2 I. RECEIVE AND FILE: A. Benefit Register listing for end of month May 2020 from Comerica Bank B. Cash and Assets Statement as of the end of month May 2020 from Comerica Bank and Morgan Stanley C. Correspondence items listed here: Item Date Communication 1 May 19, 2020 TO MS | Xfer request 2 May 22, 2020 MS | General correspondence 3 May 23, 2020 MS | Trade confirms 4 May 28, 2020 MS | Xfer confirm 5 May 29, 2020 MS | General correspondence 6 May 30, 2020 MS | Trade confirms 7 May 31, 2020 MS | Electronic Statements 8 Jun 05, 2020 VMT | Securities litigation memorandum 9 Jun 09, 2020 MS | Trade confirms 10 Jun 09, 2020 MS | Investment manager billing detail 11 Jun 10, 2020 MS | Summary Prospectus 12 Jun 11, 2020 MS | Trade confirms D. Approval items 1 Payable from City Assets for the service period: None 2 Payable from Fund Assets for the service period: $ 18,009.54 MS Consolidated – monthly mgr fees $18,009.54 MS Consolidated – quarterly advisory fees Boyd Watterson – quarterly mgr fees WCM – quarterly mgr fees P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.06\20.06 Agenda.docx 2 REGULAR AGENDA II. OLD BUSINESS A. Annual Review of Adjustments to “Initial 70% AFC Limit” for Gross Monthly Pensions III. NEW BUSINESS A. Pension Administration Comments B. Trustee Comments ADJOURN P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.06\20.06 Agenda.docx 3