Police Employees Pension Board Minutes - 12-10-15 v CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
December 10,2015
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at
6:31 P.M. Those in attendance were:
Members Non-Members
Vic Gualillo Russell Caffey- Plan Administrator
John Wolfel Sidney Taylor- Graystone Consulting
Bob Liggero
Bill Tomson
2. Courtesy of the floor to visitors. Chris Jorgensen commented on the state of the world that we are
currently living in. Highlights of his insightful diatribe touched on many topics. First, he touched on
the horrific events in San Bernardino, California. Next, Mr. Jorgensen segued into the current state of
San Bernardino's fiscal health. Lastly, Mr. Jorgensen updated the boards of the cyber attack that he
was currently battling.
3. Approval of the minutes from the Police Retirement System for November 12, 2015 meeting.
Motion to approve was made by Vic Gualillo and seconded by Bob Liggero. The vote was approved
unanimously.
4. 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
60.0% in Equity, 29.7%in Fixed Income, and 10.4%in Cash. The ending portfolio
value of$8,380,100.
Return Summary
Month 10/31/2015 - 11/30/2015 1.0%
Quarter 9/30/2015 - 11/30/2015 5.6%
Fiscal YTD 9/30/2015 - 11/30/2015 5.6%
Last 3 Years 11/31/2012 - 11/30/2015 5.8%
a. Changes to the current Investment Policy Statement were presented and discussed.
No actionable motion was made at the conclusion of the discussion.
5. Approval of the FY 16 Police Pension Board Budget. Motion to approve was made by John Wolfel
and seconded by Vic Gualillo. The vote was approved unanimously.
6. Approval of the FY 15 Police Pension Board Expenditure Summary. Motion to approve was
made by Vic Gualillo and seconded by Bill Tomson. The vote was approved unanimously.
7. Approval of the Internal Services charged by the City of Atlantic Beach for FY 16. Motion to
approve was made by Vic Gualillo and seconded by Bob Liggero. The vote was approved
unanimously.
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CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
December 10,2015
8. New business
a. Pension travel was discussed. It was requested that COAB staff send the available
classes to both boards.
b. The Committee Review Board approved Jennifer Lada to sit on either pension
board. Her approval will last 365 days from 12/1/15. The Chair noted that Mrs.
Lada has an impressive resume and she gave an impressive interview.
c. It was noted that Pension Attorney suggested re-electing officers at the December
meeting. No actionable motions were made at the conclusion of the discussion.
9. Adjournment 7:27 — Bob Liggero made a motion to adjourn the meeting, it was seconded by Bill
Tomson.
V.
Vic Gualillo David Cameron
Chair Vice Chair
Open items for COAB Staff:
a. Send pension school information to members(Emailed by R Caffey 12.11.15)
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