Police Employees Pension Board Minutes - 03.10.16 DRAFTCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
March 10, 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
Dave Cameron
Chris Bridges- Graystone Consulting
John Wolfel
Bill Tomson
2. Courtesy of the floor to visitors. Chris Jorgenson made general comments about the state of Saudi
Arabia’s contribution to the health of the global economy and worked in a timely poker reference.
3. Approval of the minutes from the Police Retirement System for February 11, 2016 meeting.
Motion to approve was made by Vic Gualillo and seconded by Bill Tomson. The vote was approved
unanimously.
4. Chris Bridges 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
61.1% in Equity, 29.2% in Fixed Income, and 9.7% in Cash. The ending portfolio
value of $7,899,949.
Return Summary
Month 1/31/2016 - 2/29/2016 -0.5%
Quarter 12/31/2015 - 2/29/2016 -4.5%
Fiscal YTD 9/30/2015 - 2/29/2016 -0.5%
Last 3 Years 2/28/2013 - 2/29/2016 3.2%
5. Discussion regarding the Fund Balance Report presented by Russell Caffey at the request of Jim
Griffiths (GEPP Board).
6. New business
7. Adjournment– Bill Tomson made a motion to adjourn the meeting, it was seconded by Dave
Cameron.
__________________________ ____________________________
Vic Gualillo David Cameron
Chair Vice Chair