05-24-05 vCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES PENSION BOARD MEETING
May 24, 2005
1. The City of Atlantic Beach Police Employee Pension Board meeting was called to order at
6:00 P.M. Those members in attendance were Trustees, Harry McNally, Tony Downing, Henry
Bartle and Richard Downes. Also in attendance was Nelson Van Liere, Plan Administrator.
2. Approval of the minutes of February 10, 2005:
Motion made by Harry McNally, seconded by Henry Bartle. The minutes were unanimously
approved.
3. Approval of the minutes of May 12, 2005:
Motion made by Harry McNally, seconded by Tony Downing. The minutes were unanimously
approved.
4. Financial Expenditures:
The board was provided a detailed listing of expenditures yeaz to date. Henry Bartle motion to
accept, Harry McNally seconded; the vote was unanimous.
5. Board Member Selection:
Police Pension Board acknowledged that Harry McNally is now confirmed by the City Commission
to continue serving the Board for another two years beginning 3/31/2005.
6. Disability Retiree Status:
The board discussed the status of disability retirees from the list provided. A motion to take no
action made by Henry Bartle and seconded by Tony Downing was unanimously approved.
7. Discussion on Investment Policy - No action taken.
8. Discussion on bow to determine if beneficiaries are still alive - No action taken.
9. Update on Police Contribution rate changing from 1% to 2% - No action taken
10. Code Change for changes in beneficiaries.
Request to have the Pension Attorney write language into the code allowing for benefit changes after
retirement as long as it is cost neutral to the plan. A motion made by Henry Bartle and seconded by
Richard Downes was unanimously approved.
11. No other Action taken.
12. Adjourn -Motion by Tony Downing at 6:35pm
enry Bartle
Boazd Chairpersonf
Tony Downin
Boazd Secretary
Minutes taken and prepared by Nelson Van Liere, Pension Boazd Administrative Manager, 247-5807
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