[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