Police Employee Pension Board Minutes - 08.03.18CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
February 15, 2018
1
1. The City of Atlantic Beach Police Employees’ Pension Board meeting was called to order at 6:30
P.M. Those in attendance were:
Members Non - Members
Vic Gualillo Russell Caffey - Plan Administrator
Tim Anderson Chris Bridges - Graystone Consulting
Bob Liggero Sidney Taylor - Graystone Consulting
Bill Tomson Pedro Herrera - Plan Attorney
Commissioner Candace Kelly – Commission Liaison
2. Courtesy of the floor to visitors. None
3. Motion to accept the annual actuary reports by Gabriel, Roeder, Smith & Company. Motion by
Vic Gualillo, seconded by Tim Anderson. The vote was 4-0.
4. Motion to approve minutes from February 15, 2018 meeting. Motion by Bob Liggero, seconded
by Bill Tomson. The vote was 4-0.
5. Chris Bridges and 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 ending portfolio value is
$10,201,359.75.
Return Summary
Quarter to Date 10/1/2017 - 3/31/2018 -0.3%
12 Months 10/1/2017 - 3/31/2018 3.5%
Performance Since Inception 3/10/2010 - 3/31/2018 7.1%
6. Pedro Herrera updated the board on pending and upcoming items. No actionable items.
7. Vote to approve the Quarterly Financial Expenditure Report. Motion was made by Bob Liggero
and seconded by Tim Anderson. Vote was 4-0.
8. New Business – Pension Attorney Pedro Herrera recommended that the Pensions Funds make a motion
to adopt their expected rate of return. Tim Anderson motioned to adopt 6.75% as the expected rate
of return, the motion was seconded by Bob Liggero. The vote was 4-0.
9. Adjournment – Motion to adjourn at 8:25
__________________________ ____________________________
Vic Gualillo David Cameron
Chair Vice Chair