General Employees Pension Board Minutes 5-19-11 v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
May 19, 2011
1. The City of Atlantic Beach General Employees' Pension Board meeting was called to order at
6:38 PM. The members in attendance were trustees: Alan Gleit, Harry McNally, Erika Hall and
Jeri Benjamin. Bob Sternfeld & Pension Board Attorney Scott Christiansen of Christiansen &
Dehner, P.A arrived at 6:50 PM. Nelson Van Liere, Pension Plan Administrator & Michael
O'Shields, Senior Vice President & Institutional Consultant, Morgan Stanley Smith Barney were
also in attendance.
2. The Minutes for February 17, 2011, General Employees' Pension Board meeting was
approved: the motion was made by Harry McNally, seconded by Alan Gleit & unanimously
approved.
3. The Minutes for March 21, 2011, General Employees' Pension Board meeting was approved:
the motion was made by Harry McNally, seconded by Jeri Benjamin & unanimously approved.
4. The following was discussed by Pension Board Attorney Scott Christiansen of Christiansen &
Dehner, P.A.:
i. The Claims Procedures & Application for Disability Retirement were discussed: the motion
to adopt these items was made by Jeri Benjamin, seconded by Harry McNally &
unanimously approved.
ii. The Application for Disability Retirement for S. Gorman was not discussed.
iii. Forms PL -1, PL -2 & PL -3 were discussed. Nelson Van Liere, Pension Plan Administrator,
will ensure these forms are sent to the proper authorities within the required deadlines.
iv. The selection of a Records Management Liaison Officer was discussed and Nelson Van
Liere, Pension Plan Administrator was selected: the motion was made by Harry McNally,
seconded by Erika Hall & unanimously approved.
v. Other matters discussed included: financial disclosures by all Board members need to be
completed prior to the next quarterly meeting on 08/18/11 & the status of the proposed
ordinance is pending until the State of Florida Legislature has completed their changes & the
actuarial study by Foster & Foster is completed.
5. The Quarterly Investment Performance Report for the quarter ended 03/31/11 was presented
by Michael O'Shields of Morgan Stanley Smith Barney. For the quarter ending 03/31/11, the
investment portfolio had a 4.46% increase.
6. The Schedule of General Employees' Pension Changes was approved: the motion was
made by Harry McNally, seconded by Erika Hall & unanimously approved.
7. The Financial Expenditures through March 31, 2011 for the General Employees' Pension
Plan were approved: the motion was made by Erika Hall, seconded by Jeri Benjamin &
unanimously approved.
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CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
May 19, 2011
8. The Budget for General Employees' Pension Fund was discussed & it was agreed to increase
the Training line item. The motion to adopt the revised budget was made by Alan Gleit, seconded
by Harry McNally & unanimously approved.
9. New Business: the status of the General Disability application for S. Gorman was briefly
discussed.
10. Adjournment — the meeting was adjourned at 8:20 PM by eri Benja
Harr/McNally Alan eit
Vice Chair Secretary
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