General Employees Pension Board Minutes - 03.10.16 DRAFTCITY OF ATLANTIC BEACH BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES March 10, 2016
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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 Brandstraetter
Russell Caffey - Plan Administrator
Mike Jones Chris Bridges- Graystone Consulting
Jim Griffiths
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 General Employee Retirement System for February 11, 2016 meeting. Motion to approve was made by Mike Jones and seconded by Jim Griffiths. 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 61.4% in Equity, 29.0% in Fixed Income, and 9.6% in Cash. The ending portfolio
value of $14,847,356.
Return Summary
Month 1/31/2016 - 2/29/2016 -0.4%
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 3.0%
5. Discussion regarding the Fund Balance Report presented by Russell Caffey at the request of Jim
Griffiths (GEPP Board).
6. New business
7. Adjournment– Ray Brandstaetter made a motion to adjourn the meeting, it was seconded by Mike Jones.
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Ray Brandstaetter - Chair Mike Jones – Vice Chair