Police Officers' Pension Board Minutes 8-18-11 v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE OFFICERS' PENSION BOARD MEETING
MEETING MINUTES
August 18, 2011
1. The City of Atlantic Beach Police Officers' Pension Board meeting was called to order at 6:30
PM. The members in attendance were trustees: John Wolfel, Bob Sternfeld, Vic Gualillo, Brannon
Hicks and Harry McNally. Nelson Van Liere, Pension Plan Administrator; Pension Board
Attorney Scott Christiansen of Christiansen & Dehner, P.A. & Michael O'Shields, Senior Vice
President & Institutional Consultant, Morgan Stanley Smith Barney, were also in attendance.
2. The Police Officers' Board of Trustees election results were discussed. A motion was made by
Harry McNally, seconded by Vic Gualillo & and the motion was unanimously approved to ratify
the election. A motion was made by Harry McNally, seconded by John Wolfel & and the motion
was unanimously approved to select Vic Gualillo as Chair Person.
3. The Minutes for May 16, 2011, Police Officers' Pension Board Special meeting were
approved: the motion was made by Vic Gualillo, seconded by Harry McNally & unanimously
approved.
4. The Minutes for May 19, 2011, Police Officers' Pension Board meeting were approved: the
motion was made by Vic Gualillo, seconded by Harry McNally & unanimously approved.
5. The Quarterly Investment Performance Report for the quarter ended 06/30/11 was presented
by Michael O'Shields of Morgan Stanley Smith Barney. For the quarter ending 06/30/11, the
investment portfolio had a 1.06% increase.
6. The following was discussed by Pension Board Attorney Scott Christiansen of Christiansen &
Dehner, P.A.:
i. Nelson Van Liere, Pension Plan Administrator was selected as the Board's RMLO.
ii. The dual office of Pension Board Trustees was discussed. As elections are held in
the future, these duplications will be eliminated.
iii. The term expirations of the elected & replacement Trustees was discussed
iv. The next Special Board meeting for the disability claim for L. Jackson was
discussed.
7. The Financial Expenditures through June 30, 2011 for the Police Officers' Pension Plan were
approved: the motion was made by Vic Gualillo, seconded by Harry McNally & unanimously
approved.
8. The presentation of the Police Officers' Actuarial Report to the City Commission on 07/11/11
was discussed.
9. No New Business.
10. Adjournment — • e- 'ng was adjourned at 7:44 PM by Vic Gualillo.
Vic Gualillo Harry Mc ally
Chair Secretary
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