General Employees Pension Board Minutes - 8-20-15 vCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
August 20, 2015
1. The City of Atlantic Beach General Employees' Pension Board meeting was called to order at
6:30P.M. Those in attendance were:
Members Non-Members
Ray Brandstaetter
Mike Jones
Timmy Johnson
Russell Caffey-Plan Administrator
Scott Christiansen -Plan Attorney
Sidney Taylor -Graystone Consulting
Chris Bridges-Graystone Consulting
2. Courtesy of the floor to visitors. Chris Jorgensen was complimentary of the board and process
involved with making decisions as a group.
3. Approval of the minutes from the General Employee Retirement System June 11, 2015 meeting.
Motion to approve was made by Mike Jones and seconded by Timmy Johnson . The vote was
approved unanimously.
4. Approval of the financials for the Quarter ended June 30, 2015. Motion to approve was made by
Ray Brandstaetter and seconded by Mike Jones. The vote was approved unanimously.
5. Sidney Taylor and Chris Bridges of Graystone consulting lead a discussion of the portfolios of
both plans.
Ray Brandstaetter requested that Morgan Stanley keep the presentation of the
information consistent with past practices. This included the information in
Fiscal Year to Date format.
6. Pension Board Attorney discussed matters of interest to the Pension Board-Pension Board
Attorney Scott Christiansen of Christiansen & Dehner, P.A
7. Open Items -
a. Acknowledgement of revised summary plan for the Atlantic Beach General
Employee's Pension Fund dated August 10,2015. Motion to approve was
made by Ray Brandstaetter and seconded by Mike Jones. The vote was
approved unanimously.
b. Mr. Christiansen discussed multiple miscellaneous topics including Senate Bill
454 and Senate Bill172.
c. Acknowledgement of the State Acceptance of the closure ofthe General
Employee Pension Plan.
a. Sidney Taylor to email board the plans performance with information
presented Fiscal Year to date (forwarded to board on 08.21.15)
b. Russell Caffey to send Senate bill 172 Q & A to board members (forwarded to
board on 08 .21.15)
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
August 20, 2015
8. New business:
No new business.
9. Adjournment -Mike Jones made a motion to adjourn the meeting at 8:02 PM it was seconded
by Timmy Johnson.
Secretary
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