General Employee Pension Board Minutes 05-16-2013 - Quarterly CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
May 16,2013
1. The City of Atlantic Beach General Employees' Pension Board meeting was called to order at
6:30 P.M. The members in attendance were trustees: Timothy Townsend,Alan Gleit, Gil Flores,
Dennis Roberts, and Michael Diaz. Nelson Van Liere, Pension Plan Administrator; &Pension Board
Attorney Scott Christiansen of Christiansen&Dehner,P.A was in attendance.
2. Approval of the minutes from the General Employee Retirement System May 9,2013 meeting.
Motion to approve was made by Dennis Roberts and seconded by Timothy Townsend. The vote was
unanimous to approve.
3. The Financial Expenditures through March 30,2013 for the General Employees' Pension Plan
were approved: the motion was made by Timothy Townsend,seconded by Dennis Roberts&
unanimously approved.
4. Discussion of the Annual Valuation Report.
Pension Plan Administrator led discussion revolving around key points of the Annual Valuation
Report including unfunded liability ratios, schedule of funding, and impact statements. Motion to
approve the Annual Valuation Report was made by Timothy Townsend, seconded by Dennis Roberts
&unanimously approved.
5. The following was discussed by Pension Board Attorney Scott Christiansei of Christiansen&
Dehner, P.A.:
i. Both ordinances have passed on first reading and will be presented for their second
and final reading on June 10th,2013. This will allow the Pensior.Plan to adopt
several new forms including operating rules and a summary of th✓plan description.
ii. Went through various pieces of legislation that may affect the Pension Plan including
one specific piece of legislation that may require the City to acquire additional
actuarial valuations for a variety of probable outcomes.
iii. Reminded members of the Pension Board to file their annual filing with the State of
Florida to avoid any negative repercussions.
6. Approval of Benefit Changes
Board had discussion on changing the process of investigating disability recipients. The discussion
included talks on amended forms and reevaluating how often disability recipients need clearance
from a doctor to continue collecting disability.
7. No new business.
8. Adjournment—the meeting was adjourned at 7:40 PM. /
Timoth ►ownsend Ala Gleit
Chair Secretary
2.