[PAGE 1]
Minutes of the Regular Meeting January 21, 2026
Time: 2:00 P.M. Members Present: Mike McCullough,
Sean McNally, Sean Szczepaniak, Jacob Ficken
Members Absent: Bruce Jocks
Others: Aaron Castle, Jill Cooper, Amanda Tackett, Holly Nowak
Meeting was called to order at 2:01 p.m.
Re: Agenda modifications
7. Invoices
f. National Investment Services Q4 2025………$8,561.000
Re: Minutes of the Meeting held November 19, 2025
2026-01-1 Resolution by Ficken, supported by Szczepaniak
Resolved, that the minutes of the 11/19/2025 meeting be approved as written
Yeas: all Members present
Re: Communications
2026-01-2 Resolution by Ficken, supported by Szczepaniak
Resolved, that the board receive the following communications and place them on file:
a. Comerica Statement 10/01/2025 – 10/31/2025
b. Comerica Statement 11/01/2025 – 11/30/2025
c. Robbins Geller Portfolio Monitoring Report 11/28/2025
Yeas: all Members present
Re: Plan Secretary Jill Cooper
Re: Investment Consultant Brian Green
2026-01-3 Resolution by Szczepaniak supported by Ficken
Resolved, that the board, receive and place on file the email correspondence from Mr. Green
providing an update on Q4 2025 performance, with the full Q4 2025 report at the February
meeting. Returns were positive again for the quarter, fiscal year (6 months in) and calendar year
2025. We expect to see positive performance out of real estate once final numbers come in for
all the managers. Cash balance is good; board will need to address cash in February or March.
Yeas: all Members present

[PAGE 2]
January 21, 2026 Minutes continued
2026-01-4 Resolution by Szczepaniak supported by McNally
Resolved, that the board, receive the Trenton Fire & Police Q4 2025 Performance Report as of
12/31/2025 and place it on file.
Yeas: all Members present
Re: Legal Aaron Castle
2026-01-5 Resolution by Ficken, supported by Szczepaniak
Resolved, that the board receive the Service Provider Review Schedule for review and discuss at
next meeting.
Yeas: all Members present
Re: Invoices
2026-01-6 Resolution by Bedsun, supported by McNally
Whereas, the Board has received and reviewed the following invoices:
1. Invoices
a. Segal Select Insurance Services, Inc.,…………...…………………………..$4,387.34
b. CavMac – Funding Valuation….…….………………………….…………….…$6,200.00
c. CavMac – GASB 67/68 ……………………………………………………………..$4,140.00
d. Mariner Institutional, LLC Q4 2025…………………………………….……$13,125.00
e. City of Trenton Q4 2025……………………………………….…………………..$3,000.00
f. National Investment Services Q4 2025……………………………………..$8,561.00
TOTAL……………………………………….………….……….…………..……………..$39,413.34
Resolved, that the Board approved payment to Segal Select Insurance Services, Inc., in the
amount of $4,387.34, CavMac – Funding Valuation, in the amount of $6,200.00, CavMac –
GASB 67/68, in the amount of $4,140.00, Mariner Institutional, LLC Q4 2025, in the amount of
$13,125.00, City of Trenton Q4 2025, in the amount of $3,000.00, National Investment Services
Q4 2025, in the amount of $8,561.00 for a total of $39,413.34 in disbursements: and be it further
Resolved, that Plan Secretary Cooper is directed to act upon the Board’s behalf when submitting
these invoices to Comerica Bank for payment.
Yeas: all Members present
Re: Old Business
None
Re: New Business
a. Sean McNally has a schedule conflict with 2026 Pension Board meeting dates. Mr.

[PAGE 3]
January 21, 2026 Minutes continued
McNally will email available dates for board to review and discuss at next meeting.
Public Comment
None
Upcoming Events
• Next Board meeting – February 18, 2026 at 2:00 p.m. at Trenton City Hall subject to
Board approval.
Resolved, that the meeting be adjourned at 2:37 PM
Minutes prepared by Pension Board Recording Secretary: ______________________________
Holly Nowak
_______________________ ___________________________
Mike McCullough-President Mike Bedsun- Secretary