Police & Fire Retirement Board

Board of Trustees Police and Fire Retirement Systern Act 345 A Pension Plan and Trust Fund 41625 Ryan Rd. Sterling Heights, Michigan 48314-3945 John Lamerato VanOverbeke Michaud & Timmony, P.C President Legal Counsel Kelly Burgan Secretary Randall Schwarb SPECIAL MEETING MINUTES Trustee POLICE AND FIRE RETIREMENT SYSTEM, ACT 345 Robert Maleszyk MARCH 26,2024 AT 10:00 AM, SPECIAL MEETING Trustee CONFERENCE CALL: CALL-IN INFO: Mary Jaganjac 87 7 -77 7 -0L54, Passcod e 423037 7 # City Treasurer "With Executive Order 2O2A-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." 1. The special meeting of the Police and Fire Retirement System was called to order by John Lamerato at 10:00 am. Members participated via a conference call. 2. Board Members present: John Lamerato, Kelly Burgan, RandallSchwarb, Robert Maleszyk, Mary Jaganjac. Also present: Thomas Michaud; LegalCounsel, Timothy Brice; representing Morgan Stanley/Graystone Consulting, and Kerrie Dzwonkowski; Pension Technicia n. 3. Motion by Schwarb, supported by Burgan, to approve the special agenda as presented. Ayes: All. Motion carried. 4, CITIZEN PARTICIPATION There was a no citizen participation. 5. FUNDS MANAGEMENT Tim Brice spoke about the current market and the funds management. Mr. Brice suggested he would prepare a re-balance of funds proposal and then the Board would meet again to make a decision. 6. ADJOURNMENT Motion by Lamerato, supported by Schwarb, to adjourn the meeting at L0:24 am. Ayes: All. Motion carried. $(sllg juganfi<d Kelly Burgan Secretary KB/kd