08-20-20 PBOT - Police Adopted MinutesMINUTES
UTES
Pofice Officers' Pens lon Board of Trustees
._ Meetang
Tmrsday9 August 20, 2020 6o30 PM
yideoco ferellIlce
Present: William (Bill) Tomson, Chair
Tim Anderson, Member
Robert (Bob) Liggero, Member
Absent•
Also Present:
1.
2.
3.
4.
CALL TO ORDER
Chase Jamison, Member
Ed Peck, Member
Melissa Burns, Director of Finance
Commissioner Candace Kelly, Commission Liaison
David Wheeler, Graystone Consulting Tampa
Timothy Haugaard, Graystone Consulting Tampa
Pedro Herrera, Board Attorney
COURTESY Of' TI-lIE L'1LOOR TO VtSITOI�S
A. None
APPROVAL, OF IV�[INUTES
A. Approve minutes of the May 14, 2020 regular• meeting of the Police Officers'
Pension Board of Trustees.
MOTION: Motion to approve minutes
Motrorr: WlIIIC[rrd (Bill) Torrrsorr
Second: Tier Arrder^son
William (Bill) Tomson (Moved By)
Tinr Anderson (Seconded By)
Robert (Bob) Liggero
Motion passed 3 to 0.
A. d3ecap of Investment Performance
subsequent activity
For•
For•
For•
for the period ended 06/30/2020 and
David Wheeler and Timothy Haugaard of Graystone Consulting Tampa presented the
Police Officers' Pension Board of Trustees
August 20, 2020
Page 1 of 3
investment performance report for the quarter ended June 30, 2020. The total value at
the end of the quarter was $11,990,536.78.
Report Summary
Quarter to Date 4/1/20-6/30/20 14.85%
Performance Since Inception 3/10/10-6/30/2020 5.88%
Recommendations for allocation adjustments were made to move cash into Mid/Small
Cap Equity and Large Cap Equity instruments.
ACTION.• Motion to approve recommendations
Motion: Tim Anderson
Second: William (Bill) Tonzson
William (Bill) Tonzsozz (Seconded By)
Tim Anderson (Moved By)
Robert (Bob) Liggero
Motion passed 3 to 0.
B. Expenditures through 06/30/2020
For discussion and information only
C. Fund Balance Report through 06/30/2020
For discussion and information only
For
For
For
A. SECURE Act Ordinance Amendment
Attorney HefTera discussed SECURE Act Ordinance which amends the summary plan
documents to comply with the SECURE Act.
ACTION: Motion to approve ordinance and send it to the Commission for adoption.
Motion: William (Bill) Towson
Second: Robert (Bob) Liggero
William (Bill) Tonzson (Moved By) For
Tinr Anderson For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
B. Other Items for Discussion
Police OfTicers' Pension Board of Trustees
August 20, 2020
Page 2 of 3
7.
Attest:
NEW BUSINESS
A. FY21 Police Pension Budget
Discussed the proposed and it follows the actuarial required contribution outlined in
the actuarial valuation approved in May of this year.
ACTION.• Motion to approve proposed budget
Motion: William (Bell) Tolnson
Second: Robert (Bob) Liggero
William (Bill) Tol))son (Moved By) For
Tim Anderson For
Robert (Bob) Liggero (Seconded By) For
Motion passed 3 to 0.
ADJOURNMENT
There being no further discussion, Chair Tomson declared the meeting adjourned at 8:30 p.m.
Melis a Burns, Plan Administrator
G-. % 0144
William Tomson, Chair
Police Officers' Pension Board of Trustees
August 20, 2020
Page 3 of 3