Police Employees Pension Board Minutes - 02.11.16 DRAFTCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
February 11, 2016
1
1. The City of Atlantic Beach Police Employees’ Pension Board meeting was called to order at
6:30 P.M. Those in attendance were:
Members
Non - Members
Vic Gualillo
Russell Caffey - Plan Administrator
John Wolfel
Sidney Taylor - Graystone Consulting
Bob Liggero
Chris Bridges- Graystone Consulting
Bill Tomson
Scott Christiansen - Plan Attorney
2. Courtesy of the floor to visitors. Chris Jorgenson made general comments about the state of
domestic economies and Russia.
3. Approval of the minutes from the Police Retirement System for January 14, 2016 meeting.
Motion to approve was made by Bill Tomson and seconded by Bob Liggero. The vote was approved
unanimously.
4. Approval of the Financial Expenditures through February 9, 2016. Motion to approve was made
by Bob Liggero and seconded by Vic Gualillo. The vote was approved unanimously.
5. Sidney Taylor of Graystone consulting lead a discussion of the portfolios of both plans.
a. Discussion related to current allocation and rate of return. The current plan has
57.5% in Equity, 31.5% in Fixed Income, and 11.1% in Cash. The ending portfolio
value of $7,937,672.
Return Summary
Month 12/31/2015 - 1/31/2016 -4.0%
Quarter 12/31/2015 - 1/31/2016 -4.0%
Fiscal YTD 9/30/2015 - 1/31/2016 0.0%
Last 3 Years 1/31/2016 - 1/31/2016 3.5%
b. Motion to rebalance portfolio to preselected Board targets. Motion to approve
was made by Bill Tomson and seconded by John Wolfel. The vote was approved
unanimously.
6. Pension Attorney presented matters of interest. No actionable items.
7. New business
8. Adjournment– Bill Tomson made a motion to adjourn the meeting, it was seconded by Bob Liggero.
__________________________ ____________________________
Vic Gualillo David Cameron
Chair Vice Chair