Police Employees Pension Board Minutes 11-10-16 v opor
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
November 10,2016
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 Brandstaetter Russell Caffey-Plan Administrator
Mike Jones Chris Bridges - Graystone Consulting
Alan Gleit / Sidney Taylor- Graystone Consulting
Jim Griffiths Scott Christiansen -Plan Attorney
Timmy Johnson
2. Courtesy of the floor to visitors.Chris Jorgensen made general comments regarding oil,pipelines and
old age medical care.
3. Approval of the minutes from the General Employee Pension Plans for August 11,2016. Motion
to approve was made by Jim Griffiths and seconded by Timmy Johnson. The vote was approved
unanimously.
4. Chris Bridges and Sidney Taylor of Graystone consulting lead a discussion of the portfolios of
both plans.
Discussion related to current allocation and rate of return. The current plan has
61.8%in Equity,27%in Fixed Income, 5.3%in Alternatives and 5.9%in Cash.The
ending portfolio value of$16,332,130.
5. Change to quarterly meeting dates: The meeting initially scheduled for February 16th was changed
to February 9th.
6. Adjournment— Ray Brandstaetter made a motion to adjourn the meeting, it was seconded by Mike
Jones. .;--)
--1/1.42/t;(s-)---60
Ray B andstaetter Mike Jones
Chair Vice Chair
1
111
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
November 10,2016
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
John Wolfel Chris Bridges- Graystone Consulting
Bob Liggero Sidney Taylor- Graystone Consulting
Scott Christiansen -Plan Attorney
2. Courtesy of the floor to visitors.Chris Jorgensen made general comments regarding oil,pipelines and
old age medical care.
3. Approval of the minutes from the Police Pension Plans for August 11, 2016. Motion to approve
was made by Vic Gualillo and seconded by Bob Liggero. The vote was approved unanimously.
4. Chris Bridges and Sidney Taylor of Graystone consulting lead a discussion of the portfolios of
both plans.
Discussion related to current allocation and rate of return. The current plan has
61.4% in Equity, 27.2% in Fixed Income, 5.1% in Cash and 6.3% in Alternatives.
The ending portfolio value of$8,726,858.
5. Change to quarterly meeting dates: The meeting initially scheduled for February 16th was changed
to February9th
6. Adjournment—Vic Gualillo made a motion to adjourn the meeting,it was seconded by Bob Liggero.
Cuatita atie.4..—
Vic Gualillo David Cameron
Chair Vice Chair
1