General Employee Pension Board Minutes 12-12-13 CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
December 12, 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, Gil Flores,Dennis
Roberts, and Alan Gleit. Pension Plan Administrator Nelson Van Liere and Investment Advisor
Michael O'Shields were also in attendance.
2. Courtesy of the floor to visitors. No visitors exercised their right to speak.
3. Approval of the minutes from the General Employee Retirement System November 14,2013
meeting. Motion to approve was made by Timothy Townsend and seconded by Dennis Roberts. The
vote was unanimous to approve.
4. Michael O'Shields led the discussion on investment performance for the month of November
including year to date information. Discussion related to current equity and bond investment
allocation. Current quarterly performance has resulted in a$434,352 gain with a current ending
portfolio value of$14,161,526. This gain represents a quarterly gain of 3.2%after the second month
of the fiscal year ended September 30, 2014.
5. No new business.
6. Adjournment—Timothy Townsend made the motion to adjourn the me- In at ,:48 ' .
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Timothy T/iwnsend Alan Gleit
Chair V Secretary
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