2-8-24 PBOT Adopted MinutesMINUTES
r ri, Police Officers' Pension Board of Trustees
Meeting
Thursday, February 8, 2024 - 6:30 PM
+i'r Commission Chamber
Present: John Miller, Vice Chair
Tim Anderson, Secretary
Robert (Bob) Liggero, Resident Member Selected by Board; Confirmed by
Commission
Absent:
Charles "Chase" Jamison, Member
Ed Peck, Employee Elected Member
Also Present: Brittany Percell, Finance Director (FD)
1. CALL TO ORDER
Meeting Called To Order at 6:30p.m.
2. COURTESY OF THE FLOOR TO VISITORS
1 Visitor - No Comments
3. DISCUSSION OF FORM 1- STATEMENT OF FINANCIAL INTERESTS
Lead By Trustee Tim Anderson and Pension Board Attorney (Pedro).
New reporting requirements require filers to report on dollar thresholds, as there is no longer a
percentage option. Trustees must file electronically on the State Ethics Commission portal. A
fine up to $11,500 will be imposed on non -filers. Deadlines are:
* Current Trustees - July 1, 2024
* Newly Appointed Trustees - Within 30 days of first meeting
* Resigning Trustees - Within 60 days of resignation
4. APPROVAL OF MINUTES
A. Approve minutes of the August 10, 2023 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION. To Approve Meeting Minutes
Motion: Robert (Bob) Liggero
Second. Tim Anderson
John Miller
Tim Anderson (Seconded By)
For
For
Police Officers' Pension Board of Trustees
February 8, 2024
Page 1 of 4
Robert (Bob) Liggero (Moved By) For
Motion passed 3 to 0.
B. Approve minutes of the October 5, 2023 special meeting of the Police Officers'
Pension Board of Trustees.
MOTION. To Approve Meeting Minutes
Motion: Tim Anderson
Second. Robert (Bob) Liggero
John Miller For
Tim Anderson (Moved By) For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
C. Approve minutes of the November 9, 2023 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION: To Approve Meeting Minutes
Motion: John Miller
Second. Tim Anderson
John Miller (Moved By) For
Tim Anderson (Seconded By) For
Robert (Bob) Liggero For
Motion passed 3 to 0.
5. REPORTS
A. Recap of investment performance for period ended December 31, 2023 and
subsequent activity.
Graystone Investment Consultants David Wheeler and Tim Haugaard presented 4th
quarter 2023 performance reports. The total value at the end of the quarter was
$16,820,855.
Current Quarter Performance - 8.71 %
Performance Since Inception - 7.46%
MOTION. Approve Reallocation Recommendations As Presented
Motion: Robert (Bob) Liggero
Second: Tim Anderson
Police Officers' Pension Board of Trustees
February 8, 2024
Page 2 of 4
John Miller For
Tim Anderson (Seconded By) For
Robert (Bob) Liggero (Moved By) For
Motion passed 3 to 0.
B. Report on Manager Search
MOTION: Approve Manager Recommendations As Presented
Motion: Tim Anderson
Second. Robert (Bob) Liggero
John Miller For
Tim Anderson (Moved By) For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
6. DISCUSSION WITH PENSION BOARD ATTORNEY
Briefly Discussed Sunshine Law
7. OLD BUSINESS
8. NEW BUSINESS
A. Dates of Future Pension Board Meetings:
May 9th, August 8th and November 14th, 2024
B. Recommendation for re -appointment: Robert (Bob) Riggero
MOTION: Re -Appointment of Trustee and Chair Bob
Motion: Tim Anderson
Second: John Miller
John Miller (Seconded By) For
Tim Anderson (Moved By) For
Robert (Bob) Liggero For
Motion passed 3 to 0.
C. Election of Board Officer:
• Chair
• Vice -Chair
• Secretary
Police Officers' Pension Board of Trustees
February 8, 2024
Page 3 of 4
9.
Attest:
MOTION. Motion to elect John Miller as Vice -Chair
Motion: Tim Anderson
Second: Robert (Bob) Liggero
John Miller For
Tim Anderson (Moved By) For
Robert (Bob) Liggero (Seconded Bti) For
Motion passed 3 to 0.
MOTION: Motion to elect Tim Anderson as Secretary
Motion: John Miller
Second. Robert (Bob) Liggero
John Miller (Moved By) For
Tim Anderson For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
ADJOURNMENT
There being no further discussion meeting declared adjourned at 8:22 p.m.
A PM,1L
nttany Percell, Plan Administrator
Robert (Bob) Ligg , Chair
Police Officers' Pension Board of Trustees
February 8, 2024
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