01-15-09 vCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES SPECLAL PENSION BOARD MEETING
January 15, 2Q09
1. The City of Atlantic Beach General Empbyee Soeciatl CaAed Penskrn Board meeting was catlesi to
order at 6:00 P.NL Those members in attendance were trustees, Tim Townsend, Alan Gleit and Harry
McNally, and Bob Sternfeld. Malcolm Clemons was absent. Also in att~dance were Nelson Van Liere,
Plan Administrator and Michael O'Shields ofUBS.
2. A motion was made by Tim Townsend to affirm the signlag of all documents executed in connection
with the transfer of Consulting Services from Merrill. Lynch to UBS inchuding the consulting agreement,
the account set uup documents and a supplemental letter an arbitration. The motion was seconded by Harry
McNally. The vote was unanimous to appmve.
3. Michad O'Shieids reported to the award on the format of the reports to Ire alven is the future and
that aQ assets had now been transferred to tln custody of UBS. Mr. O'SS6ields presented his
~Roadmstp for the Future" inchuling the initial rebalaiLCe of assets to tluo target allocations of both plans,
begin the instidrtional review process and begin to consider updating the imcehnant plan.
4. A mati+an was made by Harry McNaliiy and seconded by Tlm Townsend to rebalance the General
Pension Plan assets to the target allbcations. The vote was unaoimou~s tiu appmve.
5.. Bout boards agreed to deviate from the normal acheduhxi meetneg of ZllZ/n-9 and changedit to
?./19ROQ9.
G. Ad josrn - Motion by Tim Townsend at 735pm
,~
Tim To
Board
Bab Steruufeld
Board Secretary
MimAes tidoea ued pre~Oa by N~Eson vm I.~, reesion Boca» adm~aror and npeuwC a ~r dtbe ectioos Irlam. audio mopes of the
me~a6s ue retsioed ~r a pobtic>~ 24'P-S~Cr7