Police Employee Pension Board Minutes 05-16-2013 - Quarterly CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
May 16,2013
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at 6:30 P.M.
The members in attendance were trustees: John Wolfel,David Cameron,Vic Gualillo, Bill Tomson, and
Tim Saggau. Nelson Van Liere,Pension Plan Administrator; &Pension Board Attorney Scott Christiansen
of Christiansen&Dehner,P.A was in attendance.
2. Police Board Member Composition Replace Harry McNally with Tim Saggau
Motion to approve was made by John Wolfel,seconded by Vic Gualillo &unanimously approved. The
change in composition is on the next Commission agenda on June 10th,2013.
3. Selection of Secretary for the Police Employees'Pension Plan.
Vic Gualillo nominated and made motion to approve David Cameron for Secretary of the Police
Employee's Pension Plan. Seconded by Bill Tomson&unanimously approved.
4. Approval of the minutes from the Police Employees'Retirement System May 9,2013 meeting. Motion
to approve was made by Vic Gualillo and seci?nded by Bill Tomson. The vote was unanimous to approve.
5. The Financial Expenditures through Marcb 30,2013 for the Police Employees' Pension Plan were
approved: the motion was made by John Wolfel,seconded by Vic Gualillo &unanimously approved.
6. Discussion of the Annual Valuation Report.
Pension Plan Administrator led discussion revohling around key points of the Annual Valuation Report
including unfunded liability ratios, schedule of Binding, and impact statements. Motion to approve the
Annual Valuation Report was made by Vic Guallo, seconded by David Cameron&unanimously
approved.
7. The following was discussed by Pension Boaid Attorney Scott Christiansen of Christiansen &
Dehner,P.A.:
i. Both ordinances have passed on first reading and will be presented for their second and final
reading on June 10th. This will allow the Pension Plan to adopt several new forms including
operating rules and a summary of the plan description.
ii. Went through various pieces of legislation that may affect the Pension Plan including
one specific piece of legislationithat may require the City to acquire additional actuarial
valuations for a variety of probable outcomes.
iii. Reminded members of the Pension Board to file their annual filing with the State of
Florida to avoid any negative repercussions.
8. No new business.
9. Adjournme +e meeting was adjourned at 7:40 PM----Immoral -mommow (1D
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Chair Secretary
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