Police Employee Pension Board Minutes 07-10-14 CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
July 10,2014
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at
6:30 P.M. The members in attendance were trustees: Vic Gualillo, William (Bill) Tomson, David
Cameron, John Wolfel, and Tim Saggau. Pension Plan Administrator Nelson Van Liere, and
Investment Advisor Michael O'Shields were also in attendance.
2. Courtesy of the floor to visitors. Chris Jorgenson spoke about his background and noted how
interesting the information is from the Pension Advisor and that the agenda is in a good format.
3. Approval of the Minutes for June 12, 2014, Police Officers' board meeting. Motion to approve
was made by Bill Tomson and seconded by Tim Saggau. The vote to approve was unanimous.
4. Michael O'Shields led the discussion on investment performance for period ended 6/30/14
including year to date information. Discussion related to current equity and bond investment
allocation and the consensus was to not change the current portfolio composition at this time. Current
calendar year performance has resulted in a gain of$171,527 with a current ending portfolio value of
$7,943,625. This represents a cumulative gain of 7.0 after the ninth month of the fiscal year ended
September 30, 2014.
5. Acknowledgment was made of approval of 2013 Annual Reports - Police Officers
6. No new business.
7. Adjournment—Bill Tomson made a motion to adjourn the meeting at 7:00 PM.
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Vic Gualillo David Cameron
Chair Secretary
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