11-09-17 Police Employee Pension Board Minutes (2)CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
November 9, 2017
1. The City of Atlantic Beach Police Employees' Pension Board meeting was called to order at 6:36
P.M. Those in attendance were:
Members
Vic Gualillo
Bob Liggero
Bill Tomson
2. Courtesy of the floor to visitors. None
Non -Members
Russell Caffey -Plan Administrator
Chris Bridges -Graystone Consulting
Sidney Taylor -Graystone Consulting
Scott Christiansen -Plan Attorney
3. Motion to approve minutes from August 10, 2017 meeting. Motion by Bill Tomson , seconded by
Bob Liggero. The vote was 3-0 .
4. Motion to approve the Summary Plan Description. Motion by Bob Liggero, seconded by Bill
Tomson. The vote was 3-0.
5. 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 ending portfolio value JS
$9 ,870 ,329 .
Return Summary
Quarter to Date 6/30/2017 9/30/2017 3.1%
12 Months 10/1/2016 9/30/2017 11.2%
Performance Since Inception 3/10/2010 9/30/2017 7 .0%
Motion to rebalance the weighting of investments Motion to accept the recommendation
was made by Vic Gualillo and seconded by Bill Tomson. The vote was 3-0. (Sell 1.5% of
JPM Equity Income, Sell 0.3% of Boston Partners SMID Value , Sell 0 .1% Riverbridge
SMID Growth, Buy 0.9% Vanguard Total Int ' l Stock, Buy 0.9% Lazard International
Strategic Eq, Buy $500k Federated Money Market)
6. Scott Christiansen updated the board on pending and upcoming items.
a. Motion to agree to the assignment of attorney contract to Sugarman &
Susskind, P.A. Motion by Bill Tomson seconded by Bob Liggero. Vote was 3-0.
7. Vote to approve the Quarterly Financial Expenditure Report . Motion was made by Bill Tomson
and seconded by Vic Gualillo. Vote was 3-0 .
. .
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
November 9, 2017
8. Motion to accept proposed calendar. Motion by Vic Gualillo, seconded by Bob Liggero. Vote was
3-0.
February 15,2018
May 10,2018
August 9, 2018
November 8, 2018
9. The City of Atlantic Beach 's Board Member Review Committee nominated Tim Anderson for City
Commission approval to serve on the Police Pension Board. Mr. Anderson was to be on the November
13th Agenda .
10. Adjournment-Bob Liggero made a motion to adjourn the meeting at 8:33 , it was seconded by Vic
Gualillo.
Vic Gualillo David Cameron
Chair Vice Chair
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