Police Employee Pension Board Minutes - 08.09.18CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
August 9, 2018
1
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
Chase Jameson Russell Caffey - Plan Administrator
Tim Anderson Chris Bridges - Graystone Consulting
Bob Liggero Sidney Taylor - Graystone Consulting
Pedro Herrera - Plan Attorney
Commissioner Candace Kelly – Commission Liaison
2. Courtesy of the floor to visitors. None
3. Motion to approve minutes from May 10, 2018 meeting. Motion by Bob Liggero, seconded by Tim
Anderson. The vote was 3-0.
4. Fund Balance Report was presented – non actionable, for discussion and information only.
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
$10,327,579.
Return Summary
Quarter to Date 4/1/2018 - 06/30/2018 1.24%
Fiscal Year to Date 10/1/2017 - 06/30/2018 4.63%
Performance Since Inception 3/10/2010 - 06/30/2018 6.50%
B. Motion to rebalance by Tim Anderson and seconded by Bob Liggero. Vote was 3-0.
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 Tim Anderson
and seconded by Bob Liggero. Vote was 3-0.
8. Approval of the FY19 Police Pension Budget. Motion by Chase Jameson and seconded by Tim
Anderson. Vote was 3-0.
9. New Business - Nomination and Vote of New Pension Fund Chairman. Bill Tomson was nominated
by Bob Liggero and seconded by Chase Jameson. Vote was 3-0.
10. Adjournment – Motion to adjourn at 7:58.
__________________________ ____________________________
Bill Tomson David Cameron
Chair Vice Chair
CITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
POLICE EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
August 9, 2018
2
Open Items for Staff
1. Send email link for Financial Disclosure Form 1F to former Pension Board Member Vic Gualillo.
(08.16.18 R. Caffey)
2. Send email link for Financial Disclosure Form 1 to new Pension Board Member Chase Jamison. (08.16.18
R. Caffey)