Posted: February 8, 2023
CITY OF EAST PROVIDENCE FIREMEN’S & POLICEMEN’S RETIREMENT PENSION FUND DOCKET
A regular quarterly meeting of the Firemen’s and Policemen’s Retirement Pension Fund Board of Trustees will be held on Monday, the 13th of February 2023 in Conference Room A at City Hall, 145 Taunton Avenue, East Providence, RI 02914 at 9:00 a.m.
Trustees:
Lt. Jeffrey Wyrostek, Chairman, Fire Representative
Capt. James Nelson, Vice Chairman, Police Representative
John C. Neale, Retiree Representative
John F. Wallace, Civilian Representative
Frank Fogarty, Councilman, City Council Representative
Roberto L. DaSilva, Mayor
Malcolm Moore, Director of Finance, Administrator
Other Attendees:
Michael J. Marcello, City Solicitor
Michael Dwyer, Wainwright Investment Counsel, LLC
Kim Brown, Pension Clerk
AGENDA
I Swear in new City Council Representative
II Call to Order
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
III Presentation by ABS Global Investments
ABS Global will be here to provide a brief update on Offshore SPC, the current hedge fund account the Board is invested in. They will also present what they submitted for the RFP issued for an Emerging Markets Equity Manager to the Board
Accepting Handouts into Record
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
IV Presentation by Wainwright Investments LLC
Michael Dwyer will be here from the pension investment counsel firm to review the November 2022 Performance Report, review the updated information from the vendors that submitted a bid for the RFP they put out for Emerging Markets Equity Investment Management and recommend re-adopting the Investment Police Statement.
Recommendations on Cash Flow for invoices
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
Re-adopting the Investment Policy Statement
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
Accepting reports and handouts into record
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
Recommendations regarding the Emerging Markets Equity Manager Search
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
V To Approve the Consent Calendar
All items under “Consent Calendar” are considered to be of a routine and noncontroversial nature by the Board and will be enacted by one motion. There will be no separate discussion on these items unless a Board member so requests, in which event, the item will be removed from the “Consent Calendar” and will be considered in its normal sequence on the docket.
1. Pension meeting journal for November 21st 2022
2. COLA listing for December 2022, January and February 2023
3. Barings Invoice 4th Qtr.
4. IR+M Invoice 4th Qtr.
5. Invesco Invoice 4th Qtr.
6. Nyhart Invoice - GASB
7. Principal Custody Solutions Fee Advise 4th Qtr.
8. RhumbLine Invoice 4th Qtr.
9. Wainwright Investment Counsel, LLC 4th Qtr.
10. Invesco Monthly Account Statement for November 2022
11. Principal U.S. Property 4th Qtr. 2022 Quarter Highlights
12. Principal Custody Solutions October 31, 2022 Report
13. APRA request from Prequn Ltd. – Kim replied
14. APRA request from ISS Inc – Malcolm replied
15. ARPA request from SPGlobal – Kim replied
16. ARPA request from Prequin Ltd – Kim replied
17. ARPA request from Peimedia – Kim replied
Motion: By_____2nd_____
Wyrostek ____ Nelson_____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
VI Discussion / Vote Quarterly meeting date of 8/14/23 to be rescheduled
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
VII Discussion / Vote Clerk presentation of job description and items done
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
VIII Discussion / Vote Nyhart Certification of Plan’s Funding Status Letter, Cost Projections Report and Actuarial Valuation Clerk to be gone over by Malcolm Moore
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
IX Update on ordinance 11-253 Death of a retired participant wording by the City Solicitor
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
X Update on standard practice steps on how to request a disability pension by the City Solicitor
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
XI Executive Session
The Police and Fire Retirement System of the City of East Providence may meet in closed Executive Session pursuant to RI General Laws § 42-46-5 (a)(1) for a discussion related to the physical or mental health of a person or persons related to a request for a disability pension of a police officer – notice given.
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
A. Request for a Service-Connected Disability Pension
1. Det. Medeiros
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
XII Seal Minutes and Adjourn Executive Session
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
XIII Reading of the votes from Executive Session
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
IVX Adjournment
Motion: By_____2nd_____
Wyrostek ____Nelson ____ Neale ____Wallace ____Fogarty ____ DaSilva______Moore____
