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Board receives Nyhart actuarial valuation and Baird advisor report; counsel notes MAPERS discussion on AI and identity theft
Summary
Trustees received and filed the Nyhart actuarial valuation and a Baird Advisors report. Legal counsel recapped the MAPERS conference and said AI and identity-theft were discussed; a trustee asked staff to confirm completion of death-audit procedures.
At the June 2 Waterford Township Police & Fire Pension Board meeting, the board received and filed the annual actuarial valuation presented by Derek Schmitt of Nyhart and a report from Baird Advisors presented by Mark Hawthorne.
Trustee J. Thomas Lesnau moved to receive and file the Nyhart valuation; Trustee Steven Thomas supported the motion and it passed unanimously. Chairman Matt Covey then moved to receive and file the Baird report, a motion supported by Lesnau and approved unanimously.
Attorney Tom Michaud delivered the legal report and said the board was "well represented" at the recent MAPERS conference, where "A.I. was heavily discussed along with identity theft." Michaud's remarks were presented as summary information for trustees rather than a recommendation for action.
In trustee comments, Lesnau asked about the completion of death audits used to verify beneficiary records. Treasurer Steven Thomas said he would check to verify that a system is in place to complete those audits; the minutes record the inquiry and the pledge of follow-up but no specific deadline.
The board took no further policy actions on benefits or contributions during the meeting. The next meeting is scheduled for Aug. 11, 2026, at 10:00 a.m. at the Waterford Fire Department conference room.
