Police Officer's & Firefighter's Retirement System

Minutes June 11, 2025 1. Call to Order White called the meeting to order at 8:32 a.m. The meeting was held at the Busch Municipal Building, 840 Boonville Avenue. Minutes taken by White. McPherson made a motion to elect Stewart the President Pro- Tem in Setser’s absence; 2nd by Munsey. Vote all: Yes. Attendance Members Representation Present Absent Justin Setser President X Charles Alexander Police X Jamie Frieze Fire X Ron Hoffman Retiree X Chad Munsey Citizen X Laura Robinson Citizen X Andy Stewart Citizen X Jonathan Winn Citizen X Ann Young Citizen X Andrew McPherson (NV) Retiree X Bryan Welch (NV) Police X David Holtmann (NV) Finance X Tony Kelley (NV) Administrative Director X Nikki White (NV) Secretary X NV = non-voting Lance Roskens was also present. 2. Approval of Meeting Minutes – May 8, 2025 Alexander made a motion to approve the May 8, 2025 minutes as presented; 2nd by Munsey. Vote all: Yes. Page 1 of 4 06/11/2025 3. Approval of Financial Statement Ending April 30, 2025 • The cash and short-term investments balance at the end of April was $3,217,674. The cash – UMB investments balance was $28,789,386. • IRM increased $426,981. The fund returned 0.31% compared to the index return of 0.40%. • Acadian Emerging Markets increased $50,733. The fund returned 0.27% compared to the index return of 1.30%. • Brandes increased $1,127,682. The fund returned 5.40% compared to the index of 5.80%. • Entrust Capital Diversified increased $2,462. The fund returned 0.50% compared to the index of 0.20%. • Entrust Global Recovery Fund decreased ($6,670). The fund returned -0.60% compared to the index of 2.60%. • Blue Ocean decreased ($625,385). The fund returned -2.55% compared to the index of 2.60% • Marathon decreased ($1,207,424). The fund returned 0.62% compared to the index of 2.60%. There was a distribution of $1.28M. • Fidelity INTL Index had an increase of $2,847,386. The fund returned 3.91% compared to the index of 4.60%. • IFM had an increase of $143,190. The fund returned 0.58% compared to the index of 1.70%. • Loomis Sayles had an increase of $143,423. The fund returned 0.21% compared to the index return of 0.40%. • LGT had an increase of $374,087. The fund returned 2.01% compared to the index return of -0.70%. • Black Rock Russell decreased ($1,551,678). The return was -0.65% compared to the index of -0.70%. • Baird Core Plus had no change. The value at month end was $95,492,162. • Prime Storage decreased ($1,215,545). The return was 5.07% compared to the index of 0.80%. There was a distribution of $2.1M. • Employee contributions for the month totaled $76,261 and employer contributions totaled $147,081. The Public Safety Sales Tax totaled $3,477,581. • Gain/Loss in market value, including managers’ fees, was $1,655,606 for the month. Total additions were $5,357,529. • Benefit payments totaled $3,257,777. Return of contributions totaled $469,449. Administrative expenses totaled $45,235. Net increase to the Plan was $1,585,068. Page 2 of 4 06/11/2025  • Total Net Assets at the end of April were $722,604,906. Young made a motion to approve the financials ending April 30, 2025; 2nd by Munsey. Vote all: Yes. 4. Review of Applications Retiree’s Name Application Application Retirement Date Department Type Date Chad Immekus Age & Service 05/26/2025 07/28/2025 Police Christopher Rasmussen Age & Service 05/06/2025 08/02/2025 Police Cody Williams Age & Service 05/15/2025 07/28/2025 Police Daniel Tscherny Age & Service 05/16/2025 07/22/2025 Fire Eric Pinegar Age & Service 05/16/2025 08/01/2025 Police Eric Schroeder Age & Service 05/19/2025 07/28/2025 Police Jason Kitta Age & Service 05/19/2025 07/28/2025 Police Joseph Doza Age & Service 05/05/2025 07/27/2025 Fire Joshua Ludwig Age & Service 05/19/2025 07/15/2025 Police Michael Karnes Age & Service 05/13/2025 06/26/2025 Police Nicholas Mittag Age & Service 05/06/2025 07/18/2025 Police Pam Gianopulos Age & Service 05/13/2025 07/26/2025 Police McPherson made a motion to accept the applications as presented; 2nd by Young. Vote all: Yes. 5. Review of Calculations Type Years of Monthly Pension Partial Pension Name Service Amount Amount Jason Marcum Age & Service 25.00 $6,129.83 $3,163.78 Jennifer Charleston Age & Service 25.05 $7,565.61 $7,077.50 Kenneth Browning Final Pay 20.00 $4,135.08 $275.67 McPherson made a motion to accept the calculations as presented above; 2nd by Young. Vote all: Yes. 6. Approval of Return of Contributions Name Type Years of Service ROC Jennifer Charleston Age & Service 25.00 $275,512.41 Jason Marcum Age & Service + buyback 23.40 + 1.60 $176,252.14 McPherson made a motion to accept the return of contribution as presented above; 2nd by Young. Vote all: Yes. 7. Administrative Director’s Report Kelley reported on the following items: • MAPERS conference is next month. The board meeting will be held a week later on July 17th. Page 3 of 4 06/11/2025  • Legislative Update – passed language to keep investment documents closed under the Sunshine Law. • We will begin the process to elect the non-voting fire representative. 8. Legal Matters – Closed Session, pursuant to Section 610.021, RS MO. McPherson made a motion to move to closed session at 8:46 a.m. pursuant to Section 610.021(1, 12 and 14) RSMo.; 2nd by Munsey. Vote Yes: Alexander, Frieze, McPherson, Munsey, Robinson, Stewart, Winn and Young. Vote no: none. Open session resumed at 9:22 a.m. 9. Board Member Terms Munsey made a motion to recommend to Council that the citizen board member term limits be changed from two to four. 2nd by Frieze. Vote all: Yes. 10. Board Structure Alexander made a motion to table the discussion of the active participants representation on the board; 2nd by Munsey. Vote all: Yes. 11. Adjournment Munsey made a motion to adjourn the meeting; 2nd by Alexander. Vote all: Yes. The meeting adjourned at 9:41 a.m. on June 11, 2025. Page 4 of 4 06/11/2025