Police Employee Pension Board Minutes 08-16-2012 - QuarterlyCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE OFFICERS' PENSION BOARD MEETING
MEETING MINUTES
August 16, 2012
1. The City of Atlantic Beach Police Officers' Pension Board meeting was called to order at 6:30
P.M. The members in attendance were trustees: William (Bill) Tomson, Vic Gualillo and Harry
McNally. John Wolfel & Brannon Hicks were not present. Nelson Van Liere, Pension Plan
Administrator; & Michael O'Shields, Senior Vice President & Institutional Consultant, Morgan
Stanley Smith Barney were also in attendance. Pension Board Attorney Scott Christiansen of
Christiansen & Delmer, P.A. arrived at 6:44 P.M.
2. The Minutes for May 17, 2012 Police Officers' Pension Board meeting were approved: the
motion was made by Harry McNally, seconded by Bill Tomson & unanimously approved.
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The following was presented by Michael O'Shields of Morgan Stanley Smith Barney:
i. The Quarterly Investment Performance Report for the quarter ended 06/30/12 had a 9.34%
increase for fiscal year to date as of June 30, 2012.
ii. Michael requested a meeting with the Police Officers' Pension Board of Trustees on October 11,
2012 to discuss the upcoming fiscal year's investment strategies. The motion to approve the
meeting date was made by Harry McNally, seconded by Vic Gualillo & unanimously approved.
The Financial Expenditures through June 30, 2012 for the Police Officers' Pension Plan were
approved: the motion was made by Vic Gualillo, seconded by Harry McNally & unanimously
approved.
The Approval Letter from the State of Florida, Department of Management Services for the
2011 Annual Report for the Police Officers' Retirement Trust Fund was discussed.
The following was discussed by Pension Board Attorney Scott Christiansen of Christiansen &
Delmer, P.A.:
i. Status of the Ordinance — is being reviewed by the attorneys handling Union negotiations for
the City
ii. The change in beneficiary of a deceased retiree's pension when divorced was discussed
iii. Notarized affidavits should be received from retirees annually at minimum to verify benefits
are being distributed properly.
iv. Brannon Hicks has not submitted his Financial Disclosure forms & will be subject to a $25 fine
per day after September 1, 2012 if these forms are not received.
v. The Merrill Lynch litigation was discussed.
No new business.
Adjournment — the meeting was adjourned at 7:51 PM.
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Vic Gualillo Harry 9cNally
Chair Secretary
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