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BAY CITY POLICE & FIRE RETIRMENT SYSTEM
BOARD OF TRUSTEES
QUARTERLY MEETING
February 11, 2025
AGENDA
9:30 a.m., City Hall – Room 306
301 Washington Ave.
Bay City, MI
ROLL CALL
1) Public Comment
2) Approval of Minutes:
Quarterly Meeting – November 12, 2024
3) Member Transactions
4) Ratification of Expenses Paid by the Plan
5) 4th Quarter 2024 Performance Report & Market Update – Mariner Institution
6) Actuarial Consulting Services RFI Search
7) Discuss/Approve 2026 Fiscal Year Police & Fire Retirement Budget
8) Receive Employment Letter from Previous Employer for Steve Staron for Record
9) Federal Legislative Update – VanOverbeke, Michaud & Timmony
10) Other
ADJOURNMENT

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BAY CITY POLICE & FIRE RETIREMENT SYSTEM
02/11/2025 Agenda (Continued)
COMMUNICATIONS
 Proposed Budget
 Fidelity Investments Index Fund
 Employment Letter – S Staron

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BAY CITY POLICE & FIRE RETIREMENT SYSTEM
02/11/2025 Agenda (Continued)
MEMBER TRANSACTIONS
1) Retirements for Formal Approval
Date of Annual
Name Department Retirement Pension
Leslie Gillespie-Darrow Police 12/26/2024 $3,828.70
2) Adjustment of Previously Approved Retirements
Date of Adjustment to
Name Department Retirement Annual Pension
Brian Berthiaume Police 11/15/2019 $1,596.03
3) New Members/Hires
Name Department Date of Hire
Victor Espinoza Police 12/16/2024
Jimmy Flathau Police 12/16/2024
Paul Jezowski Police 12/16/2024
Andrew Leidel Fire 01/6/2025
Ryan Simons Fire 01/6/2025
4) Deceased Members
Name Department Date of Death
5) Resignations/Terminations
Name Department Date of Resignation
Andy Hecht Fire 11/12/2024

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BAY CITY POLICE & FIRE RETIREMENT SYSTEM
02/11/2025 Agenda (Continued)
RATIFICATION OF EXPENSES PAID BY THE PLAN
NUMBER DATE PAID TO: PAYMENTS DESCRIPTION
2024 3rd & 4th
City of Bay City Quarter Admin
2025-741378 11/19/2024 $ 34,986.00 Fee
Smith & Klaczkiewicz, June 30th, 2024
2025-746554 12/9/2024 PC $ 5,500.00 Financial Audit
2025 1 Quarter
City of Bay City
2025-755908 1/8/2025 $ 17,493.00 Admin Fee
Consulting Fee
Mariner Institutional
2025-757488 1/14/2025 $ 12,500.00 3rd Quarter 2024
Consulting Fee
Mariner Institutional
2025-757493 1/14/2025 $ 12,500.00 4th Quarter 2024
Management
Ancora Fee 4th Quarter
2025-762224 1/30/2025 $ 11,505.65 2024 Fee
Actuarial Fee
Foster & Foster, Inc
2025-763880 2/4/2025 $ 2,254.00 Dec 2024
Investment Fee
Fisher Investments 4th Quarter 2024
2025-734934 2/4/2025 $ 10,747.37 Fee
$ 107,486.02