Police Officers' Pension Board Minutes 11-17-11 v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE OFFICERS' PENSION BOARD MEETING
MEETING MINUTES
November 17, 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: John Wolfel, Vic Gualillo and Harry McNally.
Bob Sternfeld and Brannon Hicks were not present. 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 Minutes for August 18, 2011, Police Officers' Pension Board meeting were approved: the
motion was made by Harry McNally, seconded by John Wolfel & unanimously approved.
3. The following was presented by Michael O'Shields of Morgan Stanley Smith Barney:
i. The Quarterly Investment Performance Report for the quarter ended 09/30/11 had a .82%
increase for fiscal year to date as of September 30, 2011.
ii. The Board discussed the rebalancing of the investment portfolio. The motion for the rebalancing
was made by Vic Gualillo, seconded by Harry McNally & unanimously approved.
4. The Financial Expenditures through September 30, 2011 for the Police Officers' Pension Plan
were approved: the motion was made by Vic Gualillo, seconded by Harry McNally & unanimously
approved.
5. The Fee for Gabriel, Roeder Smith & Company to calculate changes to the Actuarial
Valuation Report for Police Officers' was confirmed: the motion was made by John Wolfel,
seconded by Vic Gualillo & unanimously approved.
6. The following was discussed by Pension Board Attorney Scott Christiansen of Christiansen &
Dehner, P.A.:
i. Status of the Ordinance — has not been reviewed by the City Manager
ii. The upcoming legislation was reviewed.
7. New Business: the Board agreed to renew the FPPTA membership & attend the local
conference: the motion was made by Vic Gualillo, seconded by John Wolfel & unanimously
approved for the membership fee & the motion was made by Vic Gualillo, seconded by John
Wolfel & unanimously approved for attending the conference in Jacksonville.
8. Adjournment — the meeting was adjourned at 7:37 PM.
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Vic Gualillo Harry McNally
Chair Secretary