General Employees Retirement Board

AGENDA QUARTERLY MEETING – GENERAL EMPLOYEES’ RETIREMENT SYSTEM August 20, 2020 at 12:00PM Sterling Heights Community Center Team Room “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 June 18, 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\20.07\20.08 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 month end June and July 2020 from Comerica Bank B. Cash and Assets Statement for month end July 2020 from Comerica Bank and Morgan Stanley C. Correspondence items listed here: Item Date Communication 1 Mar 18, 2020 ADV 2A | Harding Loevner LP 2 Mar 27, 2020 RGRD LLP | Shareholder class actions 3 Mar 30, 2020 ADV 2A | Earnest Partners LLC 4 Mar 30, 2020 ADV 2A | Earnest Partners LLC 5 Apr 14, 2020 ADV 2A | Western Asset Management 6 May 21, 2020 MS | General correspondence 7 May 28, 2020 MS | Xfer confirm 8 May 29, 2020 MS | US Govt Money Market Trust 9 Jun 01, 2020 BW | Statement of Account 10 Jun 15, 2020 TO MS | Xfer request 11 Jun 18, 2020 e-MS | Trade confirms 12 Jun 22, 2020 e-MS | General correspondence 13 Jun 23, 2020 e-MS | Trade confirms 14 Jun 23, 2020 e-MS | General correspondence 15 Jun 25, 2020 e-MS | General correspondence 16 Jun 26, 2020 e-MS | Trade confirms 17 Jun 26, 2020 RGRD LLP | Shareholder class actions 18 Jun 30, 2020 RGRD LLP | Litigation Report 19 Jun 30, 2020 MFS | Client Relationship Summary 20 Jun 30, 2020 LAZARD | Client Relationship Summary P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.07\20.08 Agenda.docx 2  Item Date Communication Cont'd 21 Jul 01, 2020 e-MS | Trade confirms 22 Jul 03, 2020 e-MS | Statements 23 Jul 09, 2020 e-MS | Semi-Annual Report 24 Jul 09, 2020 e-MS | Trade confirms 25 Jul 10, 2020 e-MS | Trade confirms 26 Jul 13, 2020 e-MS | General correspondence 27 Jul 14, 2020 PRINCIPAL | Client Relationship Summary 28 Jul 15, 2020 e-MS | General correspondence 29 Jul 22, 2020 e-MS | Trade confirms 30 Jul 23, 2020 e-MS | Wire xfer confirm 31 Aug 01, 2020 e-MS | Trade confirms 32 Aug 03, 2020 e-MS | Statements 33 Aug 05, 2020 e-MS | General correspondence 34 Aug 06, 2020 e-MS | Trade confirms 35 Aug 11, 2020 e-MS | Trade confirms 36 Aug 19, 2020 e-MS | General correspondence 37 Aug 19, 2020 e-MS | Trade confirms D. Approval items 1 Payable from City Assets for the service period: $ 5,422.50 Comerica - Bank fees $4,922.50 GRS - Actuarial fees $500.00 VMT - Legal service fees 2 Payable from Fund Assets for the service period: $ 142,274.41 MS Consolidated – monthly mgr fees $35,652.99 MS Consolidated – quarterly advisory fees $83,680.18 Boyd Watterson – quarterly mgr fees $4,181.00 WCM – quarterly mgr fees $18,760.24 REGULAR AGENDA II. OLD BUSINESS None III. NEW BUSINESS A. Services Retirement – Dean Martindale, IT Technician, MAPE Technical Office B. Quarterly Portfolio Review – Morgan Stanley, The Brice Group P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.07\20.08 Agenda.docx 3  C. Pension Administration Comments 1. Review of Proposed 2020/21 GERS Meeting Schedule D. Trustee Comments ADJOURN P:\Ryan\PENSION\GERS MEETING FILES\Agendas\20.07\20.08 Agenda.docx 4