General Employees Pension Board Minutes - 06.09.16 v I
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
P S' PENSION BOARD MEETING
Cye JrJ A1. iV?LO'I4PFEETING MINUTES
June 9,2016
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at
6:35 P.M. Those in attendance were:
Members Non -Members
Ray Brandst(aetter Russell Caffey-Plan Administrator
Mike Jones Chris Bridges - Graystone Consulting
Alan Gleit Scott Christiansen -Plan Attorney
Jim Griffiths
Timmy Johnson
2. Courtesy of the floor to visitors. Chris Jorgensen made general comments regarding the state of the
global economy.
3. Approval of the minutes from the Genral Employee Pension PlansPolice Retirement System for
April 14,2016. Motion to approve was made by Mike Jones and seconded by Ray Brandstraetter. 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
63.9% in Equity, 27.6% in Fixed Income, and 8.5% in Cash. The ending portfolio
value of$15,752,568.
Return Summary
Month 5/1/2016 - 5/31/2016 1.2%
Quarter 4/1/2016 - 5/31/2016 2.0%
Fiscal YTD 10/1/2015 - 5/31/2016 6.3%
Last 3 Years 5/1/2013 - 5/31/2016 4.8%
5. Piotr Krekora of Gabriel Roeder Smith & Company, gave a presentation and summary of the
plan's Actuary Report dated September 30, 2015. Motion to approve was made by Jim Griffiths
and seconded by Mike Jones. The vote was approved unanimously.
6. Change in Status in the General Employee Pension Plan for Shirley Graham. Motion to grant was
made by Jim Griffiths and seconded by Timmy Johnson. The vote was approved unanimously.
7. Change in Status in the General Employee Pension Plan for Nancy Bailey. Motion to grant was
made by Timmy Johnson and seconded by Alan Gleit. The vote was approved unanimously.
8. Adjournment—Ray Brandstraetter made a motion to adjourn the meeting, it was seconded by Mike
Jones.
41..0. ,It. _mist. 9.6.),L4a.
Ray randstraetter Mike Jones
Chair Vice Chair
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