11-12-20 PBOT - General meeting adopted minutest MINUTES
Generrai '+ rr p� ogees' Perr Mon Board of Trustees
I`Vlleetung
Thursday, November 12, 2020 - 6:30 ISM
CoR umisMon Chamber
Present: Troy Stephens, Member
Ray Brandstaetter, Chair, General Employees' Pension Board of Trustees
Patty Drake, Member
Absent:
Nicholas Kenyon, Member
Also Present: Melissa Burns, Director of Finance
David Wheeler, Graystone Consulting Tampa
Timothy Haugaard, Graystone Consulting Tampa
Pedro Herrera, Board Attorney
1.
►F1
3.
CALL TO ORDER
COURTESY OF THE FLOOR TO VISITORS
APPROVAL OF MINUTES
A. Approve minutes of the August 20, 2020 regular meeting of the General
Employees' Pension Board of Trustees.
MOTION: Motion to approve minutes of the August 20th meeting.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
REPORTS
A. Recap of investment performance for the period ended September 30, 2020 and
subsequent activity.
David Wheeler and Timothy Haugaard of Graystone Consulting Tampa presented the
investment performance report for the quarter ended September 30, 2020. The total
value at the end of the quarter was $21,681,542.
General Employees' Pension Board of Trustees
November 12, 2020
Page 1 of 3
Report Summary
Quarter to Date 7/1/20-9/30/20 5.22%
Performance Since Inception 3/10/10-9/30/20 6.36%
B. Presentation of REIT Manager Search Analysis
Discussed and compared REIT managers for potential selection.
MOTION: Motion to approve a 2% allocation into Principal RE Invs Real Estate EQ
Securities SMA -S
Motion: Ray Brandstaetter
Second. Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
C. Expenditures through September 30, 2020
For information and discussion only
D. Fund balance report through September 30, 2020
For information and discussion only
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Calendar Year 2021 proposed meeting dates:
February 11th
May 13th
August 12th
November 18th - Attorney present virtually/telephone
The board accepted the proposed meeting dates
B. Other items for discussion
Attorney Herrera reminded the board about requirements/restrictions on receiving gifts.
Also, informed the board of an upcoming FTPPA training opportunity.
6. NEW BUSINESS
A. Change in employee status: Rene Angers
General Employees' Pension Board of Trustees
November 12, 2020
Page 2 of 3
MOTION. Motion to approve change in employee status for Rene Angers.
Motion: Ray Brandstaetter
Second. Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
B. Recommendation for re -appointment: Nick Kenyon
MOTION. Motion to approve Nick Kenyon for re -appointment to the board.
Motion: Ray Brandstaetter
Second. Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
C. Other new business
No other business was discussed.
7. ADJOURNMENT
There being no further discussion, Chair Brandstaetter declared the meeting adjourned at 7:55
p.m.
Attest:
--z�&J,2 -
Melissa Burns, Plan Administrator
KIN"4�-
Ray Br dstaetter, Chair
General Employees' Pension Board of Trustees
November 12, 2020
Page 3 of 3