[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6557364,"mediaKeyId","3298395-f36c2a6560808f064c6339009c9c2f41","parentId",3298395,"title","Board offers tributes to two police officers and one firefighter who died in April","audioSeconds",202,"startMs",2231000,"endMs",2433000,"viewUrl","/Search/View?dp=1&key=3298395-f36c2a6560808f064c6339009c9c2f41&start=2231&end=2433","thumbnailUrl","https://assets.pipeline.soar.com/3298395-f36c2a6560808f064c6339009c9c2f41/thumbnail_2231000.jpg","articleUrl","/articles/6557364/Lexington-City/Fayette-County/Kentucky/Board-offers-tributes-to-two-police-officers-and-one-firefighter-who-died-in-April","mediaUrl","https://secure.pipeline.soar.com/6557364-5136572d4d2f77e7e7ca9a1eea6e61eb/orig.mp4?Expires=1770896427&Signature=axwRyDH4098pAXVOxWnKRf9tD5Zs0X~0muezQQHgUWk5lnyUDQpXJweSMgfJDjYG-kj6g-lgdSHnCj~gOCyF4v~7FU7fYZZcJm7tDve47viSBMVIW2ER8x~jIw4tK4NU5LlCuQAwXOdfg13xNfmG4uG20fIiGeVLqiZLM-FOfaQ6qRlvLRKQWoHQRWQ0NRSHtcG-hVPLOG3J~iUaKREihpB0vUE~ZnMzoiVgOVVMzKc7HfoqXIFTGwo6-lldtoEjXbl1AgI8P9KcrGhAAxdvyRM5lELdfuSLuQxmsT04pAj5PzxFcZn49xajUCqOrNBfxar8b13qsm-T22tkeB5Syw__&Key-Pair-Id=KUT5TJCACFTXG","author","Lexington","date","2025-05-14T00:00:00Z","article","The board paused its agenda on May 14 to acknowledge three recent deaths among city public safety personnel: firefighter Jason Roberts (d. April 8, 2025), police officer Devin Gales (d. April 11, 2025) and police officer Robert Wiley (d. April 15, 2025).

Commissioner Armstrong offered condolences on behalf of the mayor's office and public safety, praising the service of the three and extending sympathy to their families. He said the city views each fallen member as part of the same public-safety family and thanked them for their service.

Board members spoke in turn. One board member recalled Devin Gales as a long-serving, senior shift member and said his leadership and mentorship would be missed. Another member described Robert Wiley as easygoing and recalled working under him earlier in a career.

The board asked for a moment to recognize retirements and recent losses and extended condolences to the families and colleagues of the deceased employees. No motions were required; the remarks were recorded as tributes in the public minutes.","mediaType","Video","parentTitle","Lexington - Police & Fire Pension Board Meeting - May 14, 2025","oneSentenceSummary","At the May 14 meeting the board paused for tributes to Jason Roberts (fire), Devin Gales (police) and Robert Wiley (police), each of whom died in April. Commissioners and board members offered condolences and memories.","taxTitle","Lexington City, Fayette County, Kentucky","taxId",5707,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6557369,"Board schedules rehearing for firefighter Buxton after debate over heart-and-lung presumption and disability rating",254,1907000,2161000,"/Search/View?dp=1&key=3298395-f36c2a6560808f064c6339009c9c2f41&start=1907&end=2161","https://assets.pipeline.soar.com/3298395-f36c2a6560808f064c6339009c9c2f41/thumbnail_1907000.jpg","/articles/6557369/Lexington-City/Fayette-County/Kentucky/Board-schedules-rehearing-for-firefighter-Buxton-after-debate-over-heart-and-lung-presumption-and-disability-rating","https://secure.pipeline.soar.com/6557369-2a4953aefc2601862283bbfae8af3a5f/orig.mp4?Expires=1770896427&Signature=SsdwAK5~P3FO6q3f5wDgoizTtjH2MeNA6Ie8sSoSzqyIbzzMxaIBr5St-506oEHjeXs6FPPkD4SWoim~nlMIcM2Ow6VhTcmMfrYy7C3lezByLMKMrBCELJopxtnAaFrQnJ6sASEfw9zFKEeJghgI6FEbxJbQwbNxamPwkTk0gjwHtxaM~Xpwha8kae982XjGsdZHA~5Fm1K91IwYN6bZub3r76hzAEncl0e2RzjCOLCFLoU7ng6aLOCYK~Nis56joY4pH44Mz0~6Odvh9cqJvu5yp61b6fYVMQj2H5iObSIcGQyQm1~IxLy~XYk6vnUt7cX8Tm-yMh9EBrH6cq~zaA__&Key-Pair-Id=KUT5TJCACFTXG","The Police and Fire Retirement Fund scheduled a rehearing for firefighter Steve Buxton on June 11, 2025, after board members discussed his appeal concerning a heart-and-lung presumption and the appropriate disability rating.

During the May 14 meeting a board member asked about the meaning of \"presumptive,\" saying, \"the word presumptive means that we may not need a percentage. I don't maybe I've got the wrong interpretation of presumptive.\" Staff clarified the applicable calculations in Buxton's case: because his reported date of injury was after 2013, his minimum disability rating would be 50%. To qualify for a 60% rating under the rules discussed, the average whole‑body impairment rating across listed conditions needs to be 20 or higher. Buxton is arguing he should receive 60% rather than the 50% minimum.

A staff member told the board that one evaluating physician \"chose not to\" assign a percentage for a given condition; the board noted that Buxton will likely need to depose that physician to determine whether an assigned percentage should change. After discussion a member said the motion should stand and the rehearing was scheduled. The motion to set the rehearing was made, seconded and carried on a voice vote.

The rehearing will give the parties an opportunity to address whether additional medical evidence or clarification changes Buxton's whole‑body impairment calculation and, consequently, his disability rating. The board did not make a final determination of the rating on May 14; it only scheduled the rehearing and discussed next procedural steps.

No new benefit was granted at the May 14 meeting; the board directed staff and counsel (through the rehearing process) to obtain the needed clarifications and medical testimony.","On May 14 the board set a rehearing for firefighter Steve Buxton on June 11 to resolve whether he qualifies for a 60% disability rating under the heart-and-lung presumption; board members discussed how whole‑body impairment ratings are averaged and the need to depose a physician who did not assign a percentage.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6557374,"Board approves Treasurer's report, annuities, retirements and disbursements; schedules medical reviews",251,1747000,1998000,"/Search/View?dp=1&key=3298395-f36c2a6560808f064c6339009c9c2f41&start=1747&end=1998","https://assets.pipeline.soar.com/3298395-f36c2a6560808f064c6339009c9c2f41/thumbnail_1747000.jpg","/articles/6557374/Lexington-City/Fayette-County/Kentucky/Board-approves-Treasurers-report-annuities-retirements-and-disbursements-schedules-medical-reviews","https://secure.pipeline.soar.com/6557374-422b316ce51320afc6b6a86e0115df78/orig.mp4?Expires=1770896427&Signature=jHfYqPgyPRL~tMDnI61P2045DO4m6MKY3zcEj9b3WehqdhHE7YF~0S2gVwFjkn-hsFV1cmMK-kJk4sBKn0MoPQuDk1OroLso6V5PlHzCejm85NhfHZnY1DJ5U0t93ybYrDkh-38~3H8TXlDF02fIWjb79uu5obkshFB2CRKmkpuzXkA3-iv5J5xz6ihAvdVZxt6rCxoHyn1lsyiOoLjHTOMjH4R-Oo6qpaVCnXuVwvUeSRrwZUDJlIO8FaGEI8Cc8PbyYsid8BwZIRe2QVXfF6FbwqcbXZQOwEP0vOz9PB9NDcCCC3kh107LS1siIboQbHV8cA6r5nH6eNMZchxwjw__&Key-Pair-Id=KUT5TJCACFTXG","The Lexington Fayette Urban County Government Police and Fire Retirement Fund approved routine administrative items and benefit actions at its May 14, 2025 meeting.

Treasurer Hancock presented financial statements and a fund reconciliation; he reported the plan's value as of the morning before the meeting at $982,890,992.23. The board moved to accept the Treasurer's report and approve a transfer letter; the motion carried on voice vote.

The board approved corrections to the April minutes (adding a note that an individual chaired that meeting) and then approved a slate of benefit approvals and administrative transactions under new business:

- Widow's annuities for Trudy Roberts and Linda Wiley: approved.
- Children's annuities for Devon R. Gales and Emma Roberts: approved.
- A purchase of \"ghost time\" from Michael Jordan: approved.
- A rehearing request for firefighter Steve Buxton was set for June 11, 2025: motion carried after discussion (see separate article for Buxton discussion).
- Disbursements for May: approved.
- Service retirement for Sergeant Anthony Bottoms, Division of Police, effective April 24, 2025: approved.

The board also handled several disability and medical matters:

- Eric Chumley (Division of Police): medical reports completed; approval motion carried.
- James Cropper (Division of Fire): medical reports completed; approval carried.
- Greg Lingle (Division of Fire): medical reports completed; approval carried.
- Jamie Tinsley (Division of Fire): board voted to send the member to a third doctor for further review.
- Dustin Dunn (Division of Fire): the board approved what was announced in meeting as the \"senate and permanent agreement\" (verbatim from the record).
- Jacob Webster (Division of Police): application for total and permanent occupational disability; board voted to send to appropriate doctors for review.

Most motions were made and seconded from the floor and carried on voice votes; individual roll-call tallies were not read into the record for these items.

The board took no new investment votes at the May 14 meeting; the packet included investment performance and manager updates (presented by Callan) but no purchase or sale motions were presented for a vote at the session.","At its May 14, 2025 meeting the Lexington Fayette Police and Fire Retirement Fund approved the Treasurer's report, multiple annuities and retirements, authorized disbursements and set hearings and medical referrals.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6557379,"Retirement fund posts slight quarterly decline but outperforms benchmark; consultants recommend asset-liability study",1734,71000,1805000,"/Search/View?dp=1&key=3298395-f36c2a6560808f064c6339009c9c2f41&start=71&end=1805","https://assets.pipeline.soar.com/3298395-f36c2a6560808f064c6339009c9c2f41/thumbnail_71000.jpg","/articles/6557379/Lexington-City/Fayette-County/Kentucky/Retirement-fund-posts-slight-quarterly-decline-but-outperforms-benchmark-consultants-recommend-asset-liability-study","https://secure.pipeline.soar.com/6557379-7744001801ae6512954c60a9f2c03df6/orig.mp4?Expires=1770896427&Signature=dCmWUrDKQWZmyV9DShBq1WsSB4aAKKtECFT9eSq0RpQc42Y7gWkyLZq9WQi0bbBSGgQYOG4~FJvV3IFcE8S2PXacBFLaeZ4aeJX0D7apccr7IiCJxS0osvnIJviES-93291YDsgj513NlRQ-vqsPO1yFFDd0bWXF1HaUdptRZBa7lHiJuhcvKoFhND~wwHLG08VGALmbQ3sVm9kgwv8ePsV7ih6gCeTRfBEcQUc3ZhcUYjHhtfIKzPxkCJu5Qkl7XL-pVRnzS65BNlTJO~Rvy1jEb8QGp6bbTiYRaI2oCB6w-5ObMUEG2dSHupZwj38x~4xDhjVAFII6RAoekeEMfA__&Key-Pair-Id=KUT5TJCACFTXG","John Kallen of Callan and Jim O'Connor reviewed capital markets and the Police and Fire Retirement Fund's portfolio at the Lexington Fayette Urban County Government meeting on May 14, 2025. The fund declined about 0.6% for the quarter ending March 31, 2025, but outperformed its policy benchmark by roughly 10 basis points on a gross-of-fees basis.

Kallen framed the market backdrop as volatile: the S&P 500 fell 4.3% in the first quarter, the Russell 2000 dropped about 9.5%, and U.S. fixed income and non-U.S. equities rebounded in May. Kallen said the S&P had recovered about 5.2% through the Monday in May presented to the board. He noted the Federal Reserve was standing pat on rates and that tariff pronouncements injected added uncertainty to markets.

The consultants emphasized that fixed income has moved from a pure diversification role to a contributor to returns given current yields. Callan's 10-year projected return for the portfolio was presented at roughly 7.12%.

O'Connor reviewed the fund's asset allocation and manager performance through March 31, 2025. He said domestic equity was overweight its long‑term target and continued to be a source of funds to pay benefits. Non‑U.S. equity was about 1.4 percentage points below target, domestic fixed income was roughly in line, and real estate and real assets were slightly underweight. O'Connor reported that the total fund finished the quarter at about $963,000,000 (quarter finish figure reported on the March-period performance slides). He also said the fund has outperformed its benchmark over one-, three-, five-, 10- and 25-year horizons in the materials presented.

Manager performance highlighted in the packet included outperformance from several U.S. equity and fixed-income managers. Dodge & Cox was cited as a bright spot among large-cap value managers. Non-U.S. managers were mixed: Acadian and Capital Group outperformed while Baillie Gifford underperformed in the quarter presented. McKay Shields (high yield) and the fund's Treasury-heavy core managers also posted positive returns for the periods shown.

O'Connor gave an update on the LaSalle property fund. The board previously committed $7 million to that strategy; approximately $5.6 million of that commitment was called and invested in May. He said additional follow-on commitments were expected but that the timing and magnitude of future capital calls remained uncertain; the next capital call was expected in July, with details to be determined.

Kallen recommended the board proceed with the asset‑liability study in two phases: first, work with a subcommittee to examine fundamentals and candidate asset classes and then, in a follow-up phase, present preliminary asset mixes and any recommended structural changes to the board in August. He said the team also plans a focused review of the fund's non‑U.S. equity sleeve and potential manager or structural changes to be returned to the board in August.

The presenters repeatedly counseled a long-term, strategic allocation approach and disciplined rebalancing, noting that short-term market moves can make it costly to attempt market timing.

The presentation closed with board questions and no formal investment actions taken on May 14; consultants were asked to convene subcommittee meetings and return with the asset-liability study and recommendations in coming months.","Callan consultants told the Lexington Fayette Police and Fire Retirement Fund on May 14 that the fund fell about 0.6% in the quarter ending March 31 but outperformed its benchmark by roughly 10 basis points. Consultants recommended an asset-liability study and signaled a review of the fund's international equity structure.","actionData","errors"]

Article not found

Board offers tributes to two police officers and one firefighter who died in April

Board schedules rehearing for firefighter Buxton after debate over heart-and-lung presumption and disability rating

Board approves Treasurer's report, annuities, retirements and disbursements; schedules medical reviews

Retirement fund posts slight quarterly decline but outperforms benchmark; consultants recommend asset-liability study