General Employees Retirement Board

AGENDA QUARTERLY MEETING – GENERAL EMPLOYEES’ RETIREMENT SYSTEM February 18, 2021 at 1:30PM Zoom 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 join the Zoom meeting, any mobile or stationary computer system with a camera and internet access will work. To accomplish accessing the call, use the meeting number and wait for the prompt to dial in the passcode, both listed directly below. Join Zoom Meeting https://zoom.us/j/96486907334?pwd=S2NqUXd3aFZHa1RHbGZWeE1JV0hCUT09 Meeting ID: 964 8690 7334 Passcode: 420211 One tap mobile +13126266799,,96486907334#,,,,*420211# US (Chicago) CALL TO ORDER ROLL CALL APPROVAL OF AGENDA APPROVAL OF MINUTES - Regular Meeting of January 21, 2021 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. T:\PENSION\GERS\GERS MEETING FILES\Agendas\2021 1Fiscal\21.02\20.02 Agenda.docx REPORT FROM LEGAL COUNSEL CONSENT AGENDA - Consent Items I.A through I.D2 I. RECEIVE AND FILE: A. Benefit Register listing for January 2021 from Comerica Bank B. Cash and Assets Statement for month ending January 2021 from Comerica Bank and Morgan Stanley C. Correspondence items listed here: Item Date Communication Cont'd 1 Nov 25, 2020 MS | Retirement plan fee changes 2 Dec 12, 2020 MS | Retirement plan fee changes 3 Jan 21, 2021 e-MS | Confluence Advisory Account Change Confirmation 4 Jan 21, 2021 e-MS | Hancock Advisory Account Change Confirmation 5 Jan 22, 2021 e-MS | Trade confirms 6 Jan 26, 2021 MS | Retirement plan fee changes 7 Jan 26, 2021 e-MS | Cash Outgoing Wire Transfer Letter 8 Jan 27, 2021 e-MS | Trade Confirmations 9 Jan 30, 2021 e-MS | Trade Confirmations 10 Jan 31, 2021 e-MS | Statements 11 Feb 03, 2021 e-MS | Trade Confirmations 12 Feb 04, 2021 e-MS | Trade Confirmations 13 Feb 06, 2021 e-MS | Trade Confirmations D. Approval items 1 Payable from City Assets for the service period: $ 14,833.70 Comerica - Bank fees $4,396.00 GRS - Actuarial fees VMT - Legal service fees | Advisory + Casework $10,437.70 2 Payable from Fund Assets for the service period: $ 124,558.49 MS Consolidated – monthly mgr fees MS Consolidated – quarterly advisory fees $96,728.39 Boyd Watterson – quarterly mgr fees $4,270.00 WCM – quarterly mgr fees $23,560.10 T:\PENSION\GERS\GERS MEETING FILES\Agendas\2021 2Fiscal\21.02\20.02 Agenda.docx REGULAR AGENDA II. OLD BUSINESS - NONE III. NEW BUSINESS A. Quarterly Money Manager Review - The Brice Group, Morgan Stanley B. Pension Administrator Comments C. Trustee Comments ADJOURN T:\PENSION\GERS\GERS MEETING FILES\Agendas\2021 3Fiscal\21.02\20.02 Agenda.docx