Police Employees Pension Board Minutes 6-9-16 CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
June 9,2016
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
David Cameron Sidney Taylor - Graystone Consulting
Bob Liggero Piotr Krekora - Gabriel Roeder Smith & Company
John Wolfel
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 Police Retirement System for May 12, 2016 meeting. Motion
to approve was made by John Wolfel 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
63.1% in Equity, 27.7% in Fixed Income, and 9.2% in Cash. The ending portfolio
value of$8,422,809.
Return Summary
Month 5/1/2016 - 5/31/2016 1.0%
Quarter 4/1/2016 - 5/31/2016 1.9%
Fiscal YTD 10/1/2015 - 5/31/2016 6.1%
Last 3 Years 5/1/2013 - 5/31/2016 4.9%
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 Bob Liggero
and seconded by David Cameron. The vote was approved unanimously.
6. New business—no new business.
7. Adjournment—John Wolfel made a motion to adjourn the meeting, it was seconded by Bob Liggero.
• ualillo Sax. .rpi,vs,r David Cameron
twL Woo- Vice Chair
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