02-11-21 PBOT - GeneralAgenda Item #3.A.
13 May 2021
Present:
MINUTES
General Employees' Pension Board of Trustees
Meeting
Thursday, February 11, 2021 - 6:30 PM
Commission Chamber
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
Pedro Herrera, Board Attorney (via Telephone)
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
3. APPROVAL OF MINUTES
A. Approve minutes of the November 12, 2020 regular meeting of the General
Employees' Pension Board of Trustees.
MOTION: Motion to approve minutes from November 12, 2020 as presented.
Motion: Ray Brandstaetter
Second: Troy Stephens
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
4. REPORTS
A. Recap of investment performance for the period ended December 31, 2020 and
subsequent activity
David Wheeler of Graystone Consulting Tampa presented the investment performance
report for the quarter ended December 31, 2020. The total value at the end of the
quarter was $24,215,796.
General Employees' Pension Board of Trustees
February 11,2021
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Agenda Item #3.A.
13 May 2021
Report Summary
Quarter to Date (10/1/20-12/31/20) - 11.69%
Performance Since Inception (3/10/10-12/31/20) - 7.33%
Mr. Wheeler made a recommendation for allocation adjustments to increase return on
investments. These adjustments are within the Asset Allocation Guidelines and closer
to the targets.
MOTION: Motion to approve recommended allocation adjustments.
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. Expenditure Report for the period ended December 31, 2020
No discussion, for information purposes only.
C. Fund Balance report for the period ended December 31, 2020
No discussion, for informational purposes only.
5. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Items for Discussion
Attorney Herrera discussed the new E -Verify law and referenced the memo and letter
that was sent out prior to this meeting. He also discussed items to watch during the
upcoming legislative session.
6. NEW BUSINESS
A. Authorization for Payment From Fund for:
1. George W. Worley III - Retirement Benefit
2. Ellen LaVake - Retirement Benefit (DROP)
MOTION: Motion to approve authorization for payment from fund for listed plan members
Motion: Ray Brandstaetter
Second: Troy Stephens
General Employees' Pension Board of Trustees
February 11, 2021
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Agenda Item #3.A.
13 May 2021
Troy Stephens (Seconded By) For
Ray Brandstaetter (Moved By) For
Patty Drake For
Motion passed 3 to 0.
B. Other New Business
No other new business was discussed.
7. ADJOURNMENT
There being no further discussion, Chair Brandstaetter declared the meeting adjourned at 7:57
p.m.
Attest:
Meli sa Burns, Plan • dministrator Ray Brandaetter, Chair
General Employees' Pension Board of Trustees
February 11,2021
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