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R3226RESOLUTION NO. 3226 WHEREAS, Resolution No. 3226 will revise the Employees' Pension Plan actuarial return target, and will supersede Resolution No. 3030 that was adopted May 10, 2012 and revised the Employees' Pension Plan actuarial return target. WHEREAS, Resolution No. 3030 superseded Resolution No. 2749 that was adopted on November 8, 2007 and revised the Employees’ Pension plan actuarial return target and asset allocation mix. Resolution No. 2749 superseded Resolution No. 2563 that was adopted on June 10, 2004 and established the Employees’ Pension Plan asset allocation mix. Resolution 2563 superseded Resolution No. 2193 that was adopted on August 10, 1995 and documented the Proxy Voting Policy for the investment managers serving the Employees’ Pension Plan, and Resolution No. 2193 superseded Resolution No. 2177 that was adopted on April 20, 1995 and documented the brokerage guidelines for the investment managers serving the Employees’ Pension Plan, and WHEREAS, The Metropolitan St. Louis Sewer District has established an Employee Pension Plan in accordance with provision of the District's Plan, Section 3.020, paragraph 22, and through the enactment of Ordinance No. 4641 as amended which provides for the pensioning and other retirement benefits of employees of the Metropolitan St. Louis Sewer District and spouses and minor children of deceased employees, and provides for the payment of public funds for such purposes, in accordance with the Missouri Constitution of 1945, as amended, and the Missouri Statutes enacted authorizing said Pension Plan, and the Plan of The Metropolitan St. Louis Sewer District, and WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District shall select the manner of funding the Pension Plan, whether by insurance or annuity contracts, trust agreement, or any other means, and shall have authority to select or change any Carrier, Pension Trustee or depository with which said contracts or trust agreement shall be entered into and with which monies of the Pension Fund shall be held, managed and invested, and WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District in fulfilling its fiduciary responsibility for the Pension Plan, periodically reviews the benefits, investments of pension funds, and general administration of the pension plan, and WHEREAS, the Board of Trustees of The Metropolitan St. Louis Sewer District presently receives services from Pavilion Advisory Group, per Ordinance No. 13719, adopted September 12, 2013, to generally advise the District on the evaluation as to how the plan assets have been invested for the benefit of the current and prospective retirees and their beneficiaries, and WHEREAS, Pavilion Advisory Group has conducted a review and evaluation of the Employee Pension Fund investment activities, and has assisted the District in developing a statement of investment policy, objectives and guideline, and NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT that the accompanying codified document entitled “Metropolitan St. Louis Sewer District, Statement of Investment Policy, Objectives and Operating Guidelines” including all appendices represent the Investment Policy, Objectives and Operating Guidelines of the Employees’ Pension Plan, and will serve to supersede Resolution No. 3030 that was adopted May 10, 2012 and revised the Employees' Pension Plan actuarial return target, and BE IT FURTHER RESOLVED, that any and all current and future managers will acknowledge in writing that they have read, understand and will comply with the terms set forth in this document. The foregoing Ordinance was adopted on July 9, 2015.