11-14-19 General Employee Pension Board MinutesPresent:
MINUTES
General Employees' Pension Board of Trustees
Meeting
Thursday, November 14, 2019 - 6:30 PM
Commission Chamber
Troy Stephens, Member
Ray Brandstaetter, Chair, General Employees' Pension Board of Trustees
Alan Gleit, Member
Absent: Timmy Johnson, Dir. of Rec. & Spec. Events
Also Present:
1. CALL TO ORDER
Melissa Burns, Director of Finance
Sidney Taylor, Graystone Consulting -Orlando
David Wheeler, Graystone Consulting -Tampa
Commissioner Cindy Anderson -Commission Liaison
Mayor Ellen Glasser
2. COURTESY OF THE FLOOR TO VISITORS
None
3. APPROVAL OF MINUTES
A. Approve minutes of the May 9, 2019 regular meeting of the General Employees'
Pension Board of Trustees.
MOTION: Motion to approve
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Alan Gleit For
Motion passed 3 to 0.
B. Approve minutes of the September 24, 2019 special meeting of the General
Employee Pension Board of Trustees
MOTION: Motion to approve
Motion: Ray Brandstaetter
Second: Troy Stephens
General Employees' Pension Board of Trustees
November 14, 2019
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Alan Gleit For
Motion passed 3 to 0.
4. REPORTS
A. Recap investment performance for the period ended 09/30/19 and subsequent
activity
David Wheeler of Graystone Consulting Tampa and Sidney Taylor of Graystone
Consulting Orlando presented the investment performance report for the quarter ended
September 30, 2019. The total value and the end of the quarter was $20,521,927.
Report Summary
Quarter to date 06/30/19-09/30/19 0.32%
Fiscal Year to Date 10/1/2018-09/30/2019 3.24%
Performance since Inception 03/10/10-09/30/19 6.45%
3019 COAB Quarterly Report
B. Expenditures as of 09/30/19
Non actionable, for discussion and information only
General Employees Pension Fund Expenditures
C. Fund Balance as of 09/30/19
Non actionable, for discussion and information only.
General Employees Pension Fund Balance Report
5. DISCUSSION WITH PENSION BOARD ATTORNEY
Attorney Herrera gave a refresher on the State of Florida Ethics Laws related to gifts. There
were no actionable items.
6. NEW BUSINESS
A. Future Meeting Dates: February 13, May 14, August 13, and November 12, 2020
B. Discussion of report to the City Commission by the Board Chair
A discussion ensued on the content of the report. Ray Brandstaetter will be delivering
the report to the Commission at its Regular Meeting on November 25, 2019.
C. Decision on whether or not to obtain files from former board attorney
Christiansen & Dehner, P.A.
Attorney Herrera will have a discussion with former attorneys as to the nature of the
General Employees' Pension Board of Trustees
November 14, 2019
information.
D. Board Vacancy - Board needs to select a resident to serve on the board of trustees.
Vacancy was discussed, however, no new candidates were brought forward.
E. Other new business
There was a discussion about a formal pension funding policy. A draft will be brought
back to the February meeting.
7. ADJOURNMENT
There being no further discussion, Chair Brandstaetter declared the meeting adjourned at 7:50
p.m.
Attest:
ds'.etter, Chair Melis a Burns, Plan Administrator
General Employees' Pension Board of Trustees
November 14, 2019