10-10-16 General Employees Pension Board Minutes fifri
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.
Ray B andstaetter Mike Jones
Chair Vice Chair