General Employees Pension Board Minutes - 09/10/15 v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
September 10,2015
1. The City of Atlantic Beach General Employees' Pension Board meeting was called to order at
6:30 P.M. Those in attendance were:
Members Non-Members
Ray Brandstaetter Russell Caffey-Plan Administrator
Alan Gleit Sidney Taylor-Graystone Consulting
Mike Jones 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 August 20, 2015
meeting. Motion to approve was made by Mike Jones and seconded by Ray Brandstaetter. The vote
was approved unanimously.
4. Sidney Taylor and Chris Bridges of Graystone consulting lead a discussion of the portfolios
of both plans.
- The board requested that Graystone make a formal presentation pertaining to
their plan at the October 8th meeting.
5. Approval of the conversion of 12% of Columbia and 3% of Riverbridge into cash. Motion to
approve was made by Ray Brandstaetter and seconded by Alan Gleit. The vote was approved
unanimously. (The net result of this vote was approximately 65% Equity, 30% Cash, and
5% fixed income)
6. Approval of retirement benefits and change of retirement benefits: Mike Fields - Retired,
Survivor benefits to Annie Stewart (Clifford Stewart). Motion to approve was made by Alan
Gleit and seconded by Mike Jones. The vote was approved unanimously.
7. Courtesy of the floor to visitors. Mayor Elect— Mitch Reeves introduced himself to the board and
gave the board members high praise for their efforts and civic mindedness.
8. New business:
No new business.
9. Adjournment — Ray Brandstaetter made a motion to adjourn the meeting, it was seconded by
Mike Jones.
Ray Br•ndstaetter Alan Gleit
Chair Secretary
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