JOURNAL OF PROCEEDINGS
BOARD OF TRUSTEES OF THE POLICE AND FIRE RETIREMENT SYSTEM
OF THE CITY OF DETROIT
9:00 A.M.
IN THE CONFERENCE ROOM OF THE RETIREMENT SYSTEMS
ONE DETROIT CENTER
500 WOODWARD AVENUE
30TH FLOOR (SUITE 3000)
DETROIT, MICHIGAN 48226
PRESENT
JUNE ADAMS
MARK DIAZ
ANGELA R. JAMES
MICHAEL JAMISON
EDSEL JENKINS
BRENDA JONES
SEAN P. NEARY
JEFFREY PEGG
PORTIA ROBERSON
JOHN SERDA
GREGORY TROZAK
JOHN G. TUCKER
EX/OFFICIO TRUSTEE/ALTERNATE-CORPORATION COUNSEL
ELECTED TRUSTEE/POLICE
EX/OFFICIO TRUSTEE/POLICE/MAYORAL DESIGNEE
EX/OFFICIO TRUSTEE/DEPUTY FINANCE DIRECTOR
EX/OFFICIO TRUSTEE/FIRE/MAYORAL DESIGNEE
EX/OFFICIO TRUSTEE/CITY COUNCIL PRESIDENT
ELECTED TRUSTEE/FIRE
ELECTED TRUSTEE/FIRE/CHAIRPERSON
EX/OFFICIO TRUSTEE/ALTERNATE-HONORABLE MAYOR/VICECHAIRPERSON
ELECTED TRUSTEE/POLICE
ELECTED RETIRANT TRUSTEE/POLICE
ELECTED RETIRANT TRUSTEE/FIRE
ALSO PRESENT
CYNTHIA A. THOMAS
RYAN C. BIGELOW
RONALD A. KING
JANET S. LENEAR
EXECUTIVE DIRECTOR
CHIEF INVESTMENT OFFICER
INTERIM GENERAL COUNSEL
RECORDING SECRETARY
EXCUSED
MATTHEW GNATEK
JOHN NAGLICK
PAMELA SCALES
TRACY THOMAS
ELECTED TRUSTEE/POLICE
EX/OFFICIO TRUSTEE/INTERIM TREASURER
EX/OFFICIO TRUSTEE/BUDGET DIRECTOR
ELECTED TRUSTEE/FIRE
ALSO EXCUSED
DAVID CETLINSKI
ASSISTANT EXECUTIVE DIRECTOR
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
2
CHAIRPERSON
VICE CHAIRPERSON
FOLLOWING A REQUESTED VERBAL ROLL CALL BY
, THE MEETING CONVENED AT
JULY 9, 2015 AGENDA
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE ADAMS
, THAT TODAY’S JULY 9, 2015 AGENDA BE APPROVED AS PREPARED
AND PRESENTED BY THE BOARD’S RECORDING SECRETARY:
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, JONES, NEARY, SERDA, TROZAK,
TUCKER AND VICE CHAIRPERSON ROBERSON – 9
NAYS – NONE
TRUSTEE
EXCUSED HERSELF AT 9:28 A.M.
DROP APPLICATION
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE NEARY
, THAT THE DROP APPLICATION WHICH IS DESIGNATED BELOW BE
APPROVED:
DROP APPLICATION
NAME, TITLE, DEPARTMENT:
RETIREMENT TYPE, PLAN:
SERVICE CREDIT, EFFECTIVE DATE:
MATTHEW G. FULKS – SERGEANT - POLICE
DROP - NEW
23 02 04 – 06 26 15
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
3
DROP APPLICATION - CONTINUED
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, SERDA, TROZAK, TUCKER
AND VICE CHAIRPERSON ROBERSON – 8
NAYS – NONE
RETIREMENT APPLICATION
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE TUCKER
, THAT THE EARLY RETIREMENT APPLICATION WHICH IS OUTLINED
BELOW BE APPROVED:
RETIREMENT APPLICATION
NAME, TITLE, DEPARTMENT:
RETIREMENT TYPE, PLAN:
SERVICE CREDIT, EFFECTIVE DATE:
HENRY E. JACKSON – OFFICER – POLICE
EARLY RETIREMENT - NEW
17 07 06 – 05 19 15
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, SERDA, TROZAK, TUCKER
AND VICE CHAIRPERSON ROBERSON – 8
NAYS – NONE
PUBLIC RELATIONS DIRECTOR
A.M.
ENTERED THE MEETING AT 9:30
CONFIRMATIONS
BY TRUSTEE JENKINS – SUPPORTED BY TRUSTEE DIAZ
,
THAT THE RECEIPTS AND DISBURSEMENTS WHICH ARE
REFERENCED BELOW BE CONFIRMED:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
4
CONFIRMATIONS - CONTINUED
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, SERDA, TROZAK, TUCKER
AND VICE CHAIRPERSON ROBERSON – 8
NAYS – NONE
LOBBYIST
ENTERED THE MEETING AT 9:31 A.M.
CAPITAL CALLS, MANAGEMENT FEES, LEGAL FEES AND ADMINISTRATIVE AND
OTHER EXPENSES
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE JENKINS
, THE BOARD HAS BEEN PRESENTED WITH A SCHEDULE OF CAPITAL
CALLS, MANAGEMENT FEES, LEGAL FEES AND ADMINISTRATIVE AND OTHER
EXPENSES (SAID SCHEDULE IS REFERENCED BELOW), AND
, THE BOARD HAS BEEN REQUESTED TO APPROVE FUNDING OF SAID
CAPITAL CALLS AND PAYMENT OF SAID MANAGEMENT FEES, LEGAL FEES AND
ADMINISTRATIVE AND OTHER EXPENSES, THEREFORE BE IT
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
5
CAPITAL CALLS, MANAGEMENT FEES, LEGAL FEES AND ADMINISTRATIVE AND
OTHER EXPENSES - CONTINUED
, THAT SUBJECT TO FINAL APPROVAL OF ALL TRANSACTION
DOCUMENTS BY THE BOARD’S GENERAL COUNSEL/INTERIM GENERAL COUNSEL
AND SUBJECT TO STAFF AUDIT, THE BOARD APPROVES FUNDING OF SAID
CAPITAL CALLS AND PAYMENT OF SAID MANAGEMENT FEES, LEGAL FEES AND
ADMINISTRATIVE AND OTHER EXPENSES:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
6
CAPITAL CALLS, MANAGEMENT FEES, LEGAL FEES AND ADMINISTRATIVE AND
OTHER EXPENSES - CONTINUED
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
7
CAPITAL CALLS, MANAGEMENT FEES, LEGAL FEES AND ADMINISTRATIVE AND
OTHER EXPENSES - CONTINUED
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, SERDA, TROZAK, TUCKER
AND VICE CHAIRPERSON ROBERSON – 8
NAYS – NONE
REFUNDS OF ACCUMULATED CONTRIBUTIONS
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE JENKINS
, THAT THE CONTRIBUTIONS TO THE ANNUITY SAVINGS FUND BY
MEMBERS OF THE POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF
DETROIT, INCLUDING INTEREST, BE REFUNDED PENDING AUDIT BY RETIREMENT
SYSTEM ACCOUNTING STAFF:
LIST NUMBER 3590 - $103,639.91
LIST NUMBER 3591 - $283,621.76
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, SERDA, TROZAK, TUCKER
AND VICE CHAIRPERSON ROBERSON – 8
NAYS – NONE
CHAIRPERSON
CHAIRPERSON
ENTERED THE MEETING AT 9:32 A.M. AND VICE
RELINQUISHED THE CHAIR TO HIM.
1974 DEFINED CONTRIBUTION PLAN (EMPLOYEE LOAN PROGRAM)
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE NEARY
, THAT THE
DEFINED CONTRIBUTION PLAN LOAN REQUEST
LISTS SUBMITTED THIS DATE BE APPROVED AND THE REQUESTED AMOUNTS BE
DISBURSED PENDING AUDIT BY RETIREMENT SYSTEM ACCOUNTING STAFF:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
8
1974 DEFINED CONTRIBUTION PLAN (EMPLOYEE LOAN PROGRAM) - CONTINUED
LIST #1 – $103,639.91
LIST #2 – $283,621.76
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, NEARY, ROBERSON, SERDA, TROZAK,
TUCKER AND CHAIRPERSON PEGG - 9
NAYS – NONE
TRUSTEE
RETURNED TO THE MEETING AT 9:36 A.M.
MINUTES OF MAY 28, 2015
BY TRUSTEE ROBERSON – SUPPORTED BY TRUSTEE TROZAK
, THAT THE MINUTES OF THE MEETING HELD
BE APPROVED AS RECORDED AND SUBMITTED BY THE BOARD’S
RECORDING SECRETARY:
YEAS – TRUSTEES ADAMS, JENKINS, JONES, NEARY, ROBERSON, SERDA,
TROZAK, TUCKER AND CHAIRPERSON PEGG - 9
NAYS – NONE
ABSTENTION – TRUSTEE DIAZ – 1
MINUTES OF JUNE 11, 2015
BY TRUSTEE ROBERSON – SUPPORTED BY TRUSTEE TROZAK
, THAT THE MINUTES OF THE MEETING HELD
BE APPROVED AS RECORDED AND SUBMITTED BY THE BOARD’S
RECORDING SECRETARY:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
9
MINUTES OF JUNE 11, 2015 - CONTINUED
YEAS – TRUSTEES ADAMS, DIAZ, JENKINS, JONES, NEARY, ROBERSON, SERDA,
TROZAK, TUCKER AND CHAIRPERSON PEGG - 10
NAYS – NONE
ASSISTANT EXECUTIVE DIRECTOR’S REPORTS
IN ASSISTANT EXECUTIVE DIRECTOR
FROM TODAY’S MEETING), EXECUTIVE DIRECTOR
NOTHING TO REPORT.
STEAD (HE’S EXCUSED
HAD
EXECUTIVE DIRECTOR’S REPORTS
HAD NOTHING TO REPORT.
EXECUTIVE DIRECTOR
CHIEF INVESTMENT OFFICER’S REPORTS
HAS NOT YET JOINED THE
CHIEF INVESTMENT OFFICER
MEETING.
PUBLIC RELATIONS ADVISOR’S REPORTS
PROVIDED THE BOARD WITH A
PUBLIC RELATIONS ADVISOR
STATUS UPDATE, RE: POST CHAPTER 9 BANKRUPTCY.
LOBBYIST’S REPORTS
LOBBYIST
LEGISLATIVE UPDATE.
TRUSTEE
PROVIDED THE BOARD WITH A MICHIGAN
ENTERED THE MEETING AT 9:40 A.M.
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
10
INTERIM GENERAL COUNSEL’S REPORTS
ASKED THE BOARD TO ENTER
INTERIM GENERAL COUNSEL
INTO CLOSED SESSION FOR THE PURPOSE OF DISCUSSING THE FOLLOWING
CONFIDENTIAL MATTERS:
1) MATTERS INVOLVING ATTORNEY/CLIENT PRIVILEGE
2) DISABILITIES AND RE-EXAMS (REPORTED BY BOARD’S MEDICAL DIRECTOR)
3 NON-DUTY DISABILITY RETIREMENT APPLICATION OF
(FILED BY THE POLICE DEPARTMENT)
CLOSED SESSION
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE JAMISON
, THAT THE BOARD ENTER INTO CLOSED SESSION FOR THE PURPOSE
OF DISCUSSING THE FOLLOWING CONFIDENTIAL MATTERS:
1) MATTERS INVOLVING ATTORNEY/CLIENT PRIVILEGE
2) DISABILITIES AND RE-EXAMS (REPORTED BY REGINALD O’NEAL)
3 NON-DUTY DISABILITY RETIREMENT APPLICATION OF
(FILED BY THE POLICE DEPARTMENT)
A ROLL CALL VOTE WAS TAKEN AS FOLLOWS:
YEAS – TRUSTEES ADAMS, DIAZ, JAMISON, JENKINS, JONES, NEARY, ROBERSON,
SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 11
NAYS – NONE
THE BOARD ENTERED INTO CLOSED SESSION AT
TEMPORARILY EXCUSED HERSELF AT 9:58 A.M. AND RETURNED
TRUSTEE
TO THE MEETING AT 10:00 A.M.
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
11
ENTERED THE MEETING AT 10:02 A.M.
TRUSTEE
CLOSED SESSION - CONTINUED
RECESS
THE BOARD RECESSED FROM 10:23 A.M. UNTIL 10:40 A.M.
OPEN SESSION
BY TRUSTEE JONES – SUPPORTED BY TRUSTEE JENKINS
, THAT THE BOARD RETURN TO OPEN SESSION:
YEAS – TRUSTEES ADAMS, DIAZ, JAMES, JAMISON, JENKINS, JONES, NEARY,
ROBERSON, SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 12
NAYS – NONE
THE BOARD RETURNED TO OPEN SESSION AT
TIMOTHY A. SIMONS – PENSION NUMBER
BY TRUSTEE SERDA – SUPPORTED BY TRUSTEE TROZAK
, THAT THE BOARD ACCEPT THE REPORT AND RECOMMENDATION OF
ITS MEDICAL DIRECTOR REGARDING
, AND BE IT FURTHER
, THAT BASED UPON THE BOARD’S
RECOMMENDATION, THE BOARD HEREBY APPROVES
FOR DUTY DISABILITY RETIREMENT:
MEDICAL
DIRECTOR’S
APPLICATION
YEAS – TRUSTEES ADAMS, DIAZ, JAMES, JAMISON, JENKINS, JONES, NEARY,
ROBERSON, SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 12
NAYS – NONE
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
12
RE-EXAMINATIONS
BY TRUSTEE JONES – SUPPORTED BY TRUSTEE JAMISON
,
THAT IN ACCORDANCE WITH THE RECOMMENDATION OF THE
BOARD’S MEDICAL DIRECTOR, THE FOLLOWING DIRECTIVES BE FOLLOWED:
NAME/PENSION NO.
DEPARTMENT
DISABILITY TYPE
RE-EXAM NUMBER
CONTINUE ON
DISABILITY
RETIREMENT
PAYROLLS WITH RETIRANT
RECEIVING NEXT RE­EXAM
IN ONE (1) YEAR UNLESS
OTHERWISE DIRECTED
CONTINUE ON DISABILITY
RETIREMENT PAYROLLS
WITH NO FURTHER RE­
EXAMS
BEING NECESSARY FOR
RETIRANT
DAVID ANDERSON – 235338 – POLICE
– DUTY – 3RD
X
LISA BELTON – 234768 – POLICE –
NON­DUTY – 2ND
X
DERON DOTSON – 236985 – POLICE –
DUTY – 1ST
X
TRAVELLE ECHOLS – 236821 – FIRE –
DUTY – 2ND
X
MICHAEL ELLISON – 237575 – FIRE –
DUTY – 1ST
X
STEFON HODO – 238233 – POLICE –
DUTY – 2ND
X
SONJA HOLLIS – 235310 – POLICE –
DUTY – 3RD
X
DENNIS HOOD – 232791 – FIRE – DUTY
– 2ND
X
ARETHA INMAN – 237185 – POLICE –
DUTY – 3RD
JAMAL JOHNSON – 237565 – FIRE –
DUTY – 2ND
JASON JOHNSON – 234754 – FIRE –
DUTY – 5TH
X
X
X
CONTINUE ON DISABILITY
RETIREMENT PAYROLLS
WITH RETIRANT RECEIVING
NEXT RE­EXAM
AT MEDICAL DIRECTOR’S
OFFICE IN ONE (1) YEAR
UNLESS OTHERWISE
DIRECTED
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
13
RE-EXAMINATIONS - CONTINUED
CONTINUE ON
DISABILITY
RETIREMENT
PAYROLLS WITH RETIRANT
RECEIVING NEXT RE­EXAM
IN ONE (1) YEAR UNLESS
OTHERWISE DIRECTED
NAME/PENSION NO.
DEPARTMENT
DISABILITY TYPE
RE-EXAM NUMBER
SONYA JUSTICE – 236132 – POLICE –
DUTY – 2ND
CONTINUE ON DISABILITY
RETIREMENT PAYROLLS
WITH RETIRANT RECEIVING
NEXT RE­EXAM
AT MEDICAL DIRECTOR’S
OFFICE IN ONE (1) YEAR
UNLESS OTHERWISE
DIRECTED
X
EMILY KINCAID – 233929 – POLICE –
DUTY – 2ND
X
MARK NETZEL – 238078 – FIRE – DUTY
– 2ND
X
NICHOLAS RAWSKI – 238084 – FIRE –
DUTY – 1ST
X
MICHAEL SOVA – 237672 – POLICE –
DUTY – 5TH
CHARITY VANOVER – 262198 – POLICE
– DUTY – 2ND
CONTINUE ON DISABILITY
RETIREMENT PAYROLLS
WITH NO FURTHER RE­
EXAMS
BEING NECESSARY FOR
RETIRANT
X
X
YEAS – TRUSTEES ADAMS, DIAZ, JAMES, JAMISON, JENKINS, JONES, NEARY,
ROBERSON, SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 12
NAYS – NONE
RECESS
THE BOARD RECESSED FROM 11:11 A.M. UNTIL 11:25 A.M.
WILSHIRE ASSOCIATES
LENGTH.
AND
DISCUSSED ASSET ALLOCATION AT
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
14
WILSHIRE ASSOCIATES - CONTINUED
ASSET ALLOCATION - ALTERNATIVE C PORTFOLIO
BY TRUSTEE DIAZ – SUPPORTED BY TRUSTEE JENKINS
, THAT THE BOARD APPROVE AN “
” PORTFOLIO
(WHICH WOULD INCREASE EXPECTED RETURNS BY 17 BASIS POINTS AND KEEP
EXPECTED RISK THE SAME), AS RECOMMENDED BY WILSHIRE ASSOCIATES, THE
BOARD’S GENERAL INVESTMENT CONSULTANT:
YEAS – TRUSTEES ADAMS, DIAZ, JAMES, JAMISON, JENKINS, NEARY, ROBERSON,
SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 11
NAYS – NONE
RECESS
THE BOARD RECESSED FROM 12:29 P.M. UNTIL 1:08 P.M., DURING WHICH TIME
EXCUSED HERSELF.
TRUSTEE
CHAIRPERSON
AND
TRUSTEE
TRUSTEE
RECONVENED THE MEETING AT 1:08 P.M. AND
DISCUSSED MINIMUM VOLATILITY INVESTING.
EXCUSED HIMSELF DURING
DISCUSSION (AT 1:27 P.M.).
AND
RETURNED TO THE MEETING AT 1:32 P.M.
GENERAL COUNSEL RFP
THE BOARD DISCUSSED ITS GENERAL COUNSEL RFP WITH SPECIAL COUNSEL
, AND TRUSTEE
MADE THE MOTION WHICH FOLLOWS:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
15
SHARING PFRS GENERAL COUNSEL WITH PFRS INVESTMENT COMMITTEE
BY TRUSTEE JONES – SUPPORTED BY TRUSTEE JAMES
, the Board has considered the matter of whether the PFRS Investment
Committee and the Board (and PFRS) should retain separate legal counsel; and
, the Board has been advised by outside fiduciary counsel, Robert Klausner, on
this matter; and
, this matter has been discussed in open session; therefore be it
, that the Board has determined that the PFRS Investment Committee and the
Board should have separate legal counsel and the services of general counsel of the Board
should not be shared with the PFRS Investment Committee; and be it further
Committee:
, that a copy of this resolution will be provided to the PFRS Investment
A ROLL CALL VOTE WAS TAKEN AS FOLLOWS:
YEAS – TRUSTEES ADAMS, JAMES, JENKINS, JONES, ROBERSON AND CHAIRPERSON PEGG - 6
NAYS – TRUSTEES DIAZ, NEARY, SERDA, TROZAK AND TUCKER – 5
REASONING FOR TRUSTEE
OPPOSITION:
SAID MOTION BECAUSE IT DOESN’T ALLOW THE INVESTMENT
I VOTED
COMMITTEE THE OPPORTUNITY TO INTERVIEW OR HIRE A POTENTIAL LOCAL
LAWYER OR FIRM THAT COULD BEST SERVE THE SYSTEM’S NEEDS.
PFRS GENERAL COUNSEL RFP/LEGAL REVIEW COMMITTEE
BY TRUSTEE JONES – SUPPORTED BY TRUSTEE JAMES
, THAT THE BOARD’S MOTION REGARDING THE BOARD’S GENERAL
COUNSEL RFP AND LEGAL REVIEW COMMITTEE, WHICH WAS TABLED JUNE 25,
2015, BE REMOVED FROM THE TABLE:
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
16
PFRS GENERAL COUNSEL RFP/LEGAL REVIEW COMMITTEE - CONTINUED
A ROLL CALL VOTE WAS TAKEN AS FOLLOWS:
YEAS – TRUSTEES JAMES, JENKINS, JONES AND ROBERSON – 4
NAYS – TRUSTEES ADAMS, NEARY, SERDA, TROZAK, TUCKER AND CHAIRPERSON
PEGG – 6
ABSTENTION – TRUSTEE DIAZ – 1
PFRS GENERAL COUNSEL RFP/LEGAL REVIEW COMMITTEE
BY TRUSTEE JONES – SUPPORTED BY TRUSTEE ROBERSON
, THAT AT THE BOARD’S JULY 23, 2015 MEETING, DISCUSSION
REGARDING THE BOARD’S GENERAL COUNSEL RFP BE HELD AND A MOTION BE
MADE TO REMOVE FROM THE TABLE AND VOTE UPON THE BOARD’S JUNE 25, 2015
MOTION REGARDING ITS GENERAL COUNSEL RFP AND LEGAL REVIEW:
YEAS – TRUSTEES ADAMS, DIAZ, JAMES, JENKINS, JONES, NEARY, ROBERSON,
SERDA, TROZAK, TUCKER AND CHAIRPERSON PEGG - 11
NAYS – NONE
PUBLIC FORUM
,
DECLARED THE MEETING IN OPEN FORUM
AT
FOR GENERAL DISCUSSION BY THE PUBLIC ATTENDING THE MEETING.
ADJOURNMENT
THERE BEING NO FURTHER BUSINESS BEFORE THE BOARD,
ADJOURNED THE MEETING AT
UNTIL
, AT
., IN THE CONFERENCE ROOM OF THE RETIREMENT
SYSTEMS, ONE DETROIT CENTER, 500 WOODWARD AVENUE, 30 TH FLOOR (SUITE
3000), DETROIT, MICHIGAN 48226.
POLICE AND FIRE RETIREMENT SYSTEM OF THE CITY OF DETROIT
MEETING NUMBER 3047 – THURSDAY – JULY 9, 2015
ADJOURNMENT - CONTINUED
RESPECTFULLY SUBMITTED,
_______________________________________________
CYNTHIA A.THOMAS, EXECUTIVE DIRECTOR
17