General Employees Pension Board Minutes - 01.14.16 DRAFTCITY OF ATLANTIC BEACH BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES January 14, 2016
1
1. The City of Atlantic Beach General Employees’ Pension Board meeting was called to order at
6:31 P.M. Those in attendance were:
Members Non - Members
Ray Brandstaetter
Russell Caffey - Plan Administrator
Alan Gleit Sidney Taylor - Graystone Consulting
Mike Jones
2. Courtesy of the floor to visitors. No visitors.
3. Approval of the minutes from the General Employee Retirement System for November 10, 2015 meeting. Motion to approve was made by Alan Gleit and seconded by Ray Brandstaetter. The vote was approved unanimously.
4. Sidney Taylor of Graystone consulting lead a discussion of the portfolios of both plans.
Discussion related to current allocation and rate of return. The current plan has
59.1% in Equity, 30.3% in Fixed Income, and 10.6% in Cash. The ending portfolio value of $15,541,383.
Return Summary
Month 11/30/2015 - 12/31/2015 -1.4%
Quarter 9/30/2015 - 12/31/2015 4.2%
Fiscal YTD 9/30/2015 - 12/31/2015 4.2%
Last 3 Years 12/31/2015 - 12/31/2015 5.2%
5. New business
a. Pension travel was discussed. It was requested that COAB staff send the available
classes to both boards.
6. Adjournment 7:07 – Ray Brandstaetter made a motion to adjourn the meeting, it was seconded by
Mike Jones.
__________________________ ____________________________
Ray Brandstaetter Mike Jones Chair Vice Chair