General Employees Pension Board Minutes - 04.14.16 DRAFTCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
April 15, 2016
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 Brandstraetter
Mike Jones
Alan Gleit
Jim Griffiths
Timmy Johnson
Russell Caffey - Plan Administrator
Sidney Taylor- Graystone Consulting
2. Courtesy of the floor to visitors. Chris Jorgensen made general comments about a conversation
from the prior meeting, the coal industry and Chapter 11.
3. Approval of the minutes from the General Employee Retirement System for March 10, 2016
meeting. Motion to approve was made by Mike Jones and seconded by Jim Griffiths. 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
62.8% in Equity, 27.9% in Fixed Income, and 9.3% in Cash. The ending portfolio
value of $15,551,201.
Return Summary
Month 3/1/2016 3/31/2016 4.7%
Quarter 1/1/2016 - 3/31/2016 0.1%
Fiscal YTD 10/1/2015 3/31/2016 4.3%
Last 3 Years 3/1/2013 3/31/2016 4.3%
5. Discussion regarding the Fund Balance Report and two finance members traveling for pension
training.
6. New business
7. Adjournment— Ray Brandstaetter made a motion to adjourn the meeting, it was seconded by Mike
Jones.
Ray Brandstaetter - Chair Mike Jones — Vice Chair
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