02-14-19 General Employee Pension Board MinutesCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES’ PENSION BOARD MEETING
MEETING MINUTES
February 14, 2019
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
Ray Brandstaetter Russell Caffey - Plan Administrator
Alan Gleit Chris Bridges - Graystone Consulting
Troy Stephens 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 November 8, 2018 meeting. Motion by Allen Gleit, seconded by
Troy Stephens. 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
$17,999,062.18.
B. Motion to rebalance by Ray Brandstaetter and seconded by Alan Gleit. Vote was 3-0.
Rebalance consisted of recommendations from advisors with no modifications.
6. Pedro Herrera updated the board on pending and upcoming items. No actionable items.
7. Financial Expenditure Report through 01/31/2019 was presented – non actionable, for discussion
and information only.
8. Change in Status – Boni Dover Ashley. Motion by Alan Gleit and seconded by Troy Stephens. Vote
was 3-0.
9. Adjournment – Motion to adjourn at 8:05.
_____________________
Board Member Signature
Return Summary
Quarter to Date 10/1/2018 - 12/31/2018 -5.2%
Fiscal Year to Date 10/1/2018 - 12/31/2018 -5.2%
Performance Since Inception 3/10/2010 - 12/31/2018 5.4%