08-12-21 PBOT - General vMINUTES
General Employees' Pension Board of Trustees
FO At 1%Meeting
Thursday, August 12, 2021 - 6:30 PM
Commission Chamber
Present: Troy Stephens,Member
Patty Drake, Member
Ray Brandstaetter,Chair,General Employees'Pension Board of Trustees
Jeff Newman,Member,General Employees'Pension Board of Trustees
Rob Miller,Alternate Member, General Employees'Pension Board of Trustees
Absent: Nicholas Kenyon,Member
Also Present: Melissa Bums, Director of Finance
David Wheeler, Graystone Consulting
Timothy Haugaard, Graystone Consulting
Pedro Herrera, Pension Board Attorney
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
3. APPROVAL OF MINUTES
A. Approve minutes of the May 13, 2021 regular meeting of the General Employees'
Pension Board of Trustees.
ACTION: Motion to approve minutes as presented.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Patty Drake For
Ray Brandstaetter(Moved By) For
Jeff Newman For
Motion passed 4 to 0.
B. Approve minutes of the July 15, 2021 special meeting of the General Employees'
Pension Board of Trustees
General Employees'Pension Board of Trustees
August 12,2021
Page 1 of 3
ACTION: Motion to approve minutes as presented.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens(Seconded By) For
Patty Drake For
Ray Brandstaetter(Moved By) For
Jeff Newman For
Motion passed 4 to 0.
4. REPORTS
A. Recap of investment performance for the period ended June 30, 2021 and
subsequent activity.
David Wheeler and Timothy Haugaard presented the 2nd Quarter 2021 Performance
Report. The total value at the end of the quarter was $26,755,751.25.
Quarter to Date(4/1/21 - 6/30/21) -6.26%
Performance Since Inception (3/10/10-6/30/21) - 7.93%
Mr. Wheeler recommended allocation adjustments to increase return on investments.
These adjustments are within the Asset Allocation Guidelines.
ACTION: Motion to approve recommendation to adjust asset allocations.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Patty Drake For
Ray Brandstaetter(Moved By) For
Jeff Newman For
Motion passed 4 to 0.
B. Expenditure report for the period ended June 30, 2021
For informational purposes only,no discussion occurred.
C. Fund Balance report for the period ended June 30, 2021
For informational purposes only,no discussion occurred.
General Employees'Pension Board of Trustees
August 12,2021
Page 2 of 3
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Items for Discussion
Attorney Herrera reminded board members that the required Form 1 was due to the
Supervisor of Elections on July 1st; and to submit the form as soon as possible if had not
been done already.
Attorney Herrera also announced that there is board training available at the FTPPA
conference to be held October 3-6 at Sawgrass.
6. NEW BUSINESS
A. Proposed Budget for Fiscal Year 2022
The proposed FY22 budget was presented for approval.Anticipated revenues were
based on the actuarial assumptions that were outlined in the October 1, 2020
Actuarial Valuation.
ACTION: Motion to approve FY22 budget as presented.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Patty Drake For
Ray Brandstaetter(Moved By) For
Jeff Newman For
Motion passed 4 to 0.
7. ADJOURNMENT
There being no further discussion, Chair Brandstaetter declared the meeting adjourned at 8:15
p.m.
Attest:
Melissa Burns, Plan Administrator Ray B . taetter, Chair
General Employees'Pension Board of Trustees
August 12,2021
Page 3 of 3