05-09-19 General PBOTCITY OF ATLANTIC BEACH
BOARD OF TRUSTEES OF THE ATLANTIC BEACH PENSION FUND
GENERAL EMPLOYEES' PENSION BOARD MEETING
MEETING MINUTES
May 9, 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
Alan Gleit
Timmy Johnson
Troy Stephens
Russell Caffey - Plan Administrator
Chris Bridges - Graystone Consulting
Sidney Taylor - Graystone Consulting
Pedro Herrera - Plan Attorney
Commissioner Cindy Anderson — Commission Liaison
2. Courtesy of the floor to visitors. None
3. Motion to approve minutes from February 14, 2019 meeting. Motion by Timmy Johnson, seconded
by Allen Gleit. 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
19,780,393.56.
Return Summary
Quarter to Date 01/01/2019 - 03/31/2019 9.90%
Fiscal Year to Date 10/01/2018 - 03/31/2019 -0.49%
Performance Since Inception 03/10/2010 - 03/31/2019 6.39%
6. Motion to approve annual actuary report by Gabriel, Roeder, Smith & Company. Motion was
made by Alan Gleit and seconded by Timmy Johnson. The vote was 3-0.
7. Pedro Herrera updated the board on pending and upcoming items. No actionable items.
8. Financial Expenditure Report through 04/30/2019 was presented — non actionable, for discussion
and information only.
9. Change in Status — Jeri Benjamin. Motion by Timmy Johnson and seconded by Alan Gleit. Vote was
3-0.
10. Change in Status — Keith Randich. Motion by Timmy Johnson and seconded by Alan Gleit. Vote was
3-0.
11. Adjournment — Motion to adjourn at 8:03.
Board Member Signature