HomeMy WebLinkAbout05-06-2026 Minutes1-4
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TRUSTEES PRESENT.- Bryan Pace
Trey Littlefield
Joy Moy
William Maxwell
Bill -Wagner
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PedroOTHERS PRESENT:
:.. Hess, Mariner Institutional
Nancy Eisenstein, Foster & Foster
Tiffany Fair, Foster & Foster
Doug Lozen,sFoster
David Loy, Capital Dynamics
Alexander .s
BrandywineMichael Fleisher,
Joseph Brandywine
Members of - Public
1. gall Lo Otog — Tiffany Fair called the meeting to order at 1-04PM and a quorum was
determined.
a. Gequita Cowan•. •< -s the Board and informed them she was running for
FPPTA Board and would appreciate their vote. The Board congratulated Gequita.
4. ..*
a. January :, 2026,quarterly
• March2026, special
a. Financial • • •'reminder
reminded1. Tiffany Fair the Board to file their Form
meeting.2026, and the link to access the form was emailed to them ahead of today's
-32M
10. David Loy reviewed transactions they target, type of various deals,
their team, and their global landscape.
11. Alexander Hahn discussed terms and fees explaining this was the
third venture of this strategy that Mariner had been supportive on and
the fee would be an institutional fee regardless of size, which would
be 125 basis points, in June the discount would be 7 Yz basis points,
plus a 5�basis point discount for being first responders. The next close
was June 25,2026.
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7. Old Business
a. Update on Plan Restatement
i. Pedro Herrera announced the plan restatement was adopted.
ii. Trey Littlefield asked if there were any major changes for Fire and he
commented on the vesting clarification but nothing regarding plan provisions.
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8. Consent Agenda
a. Paid invoices for ratification
L Warrants #18, #19, and #20
b. New invoices for payment approval
L one.
c. Fund Activity Report for the period January 22, 2026 — April 29, 2026
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second by Bill Wagner, rngt�ion carried 6-0.
9. Skff Regorts, DIEc_ussion, and Aeflon
a. Foster & Foster, Tiffany Fair, Plan Administrator
i. 2025 State Annual report •#
1 . Tiffany Fair informed the Board they were awaiting State approval.
ii. PF-1 1 project
I . Tiffany Fair explained that this project was trustees acknowledging
receipt of benefits and was last done in 2024 wrapping up March 2025.
2. Tiffany Fair explained the Operating Rules and Procedures indicating
they should • done annually but based on the time when the project
was concluded, an annual project may not be beneficial and
suggested doing it every other odd year.
iii. Valley Bank purchase card Update
1. Tiffany Fair informed the Board that she had the Valley Bank cards
and tax-exempt certificates to be handed out to the trustees after the
meeting.
Educational opportunities
1. Tiffay Fair reviewed Upcoming educational opportunities available to
the Board and confirmed all trustees were registered for the FPPTA
Annual Conference in June.
i I , -- 01 1 P-NUM
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a. Bill Wagner commented on the FPPTA vote and noted each Board got one vote.
b. Pedro Herrera commented it was not pension Board business so they could discuss
who they wanted to vote for collectively outside of the meeting.
c. Bryan Pace thanked Bill Wagner for helping with the Share Plan and congratulated
Brad Hess on the $1 million mark for the plan.
� August`.-._-_-.-- -_-- Quarterly _Meeting
"N _. The meeting -- adjourned at
Date Approved by the Pension Board- -7, -" ao @A