February 2, 2011

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
February 2, 2011

TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES 11-02
February 2, 2011 8:30 a.m.

MEETING OF A PENSION BOARD OF TRUSTEES – GENERAL EMPLOYEES MEETING HELD IN THE INDIALANTIC TOWN HALL ON FEBRUARY 2, 2011.

PRESENT
Vincent Benevente, Chairman
Jim Perrin, Vice-Chairman
Ron Cassedy, Member
Loredana Kalaghchy, Member
Anthony Breglio, Member
Jennifer Fortin, Recording Secretary
Joe Carter and Tim Hester (MSSB)

I. CALL TO ORDER AT 8:30 a.m.

Chairman Benevente called the meeting to order at 8:30 a.m.

II. APPROVAL OF MINUTES

A. Minutes 11-01, November 3, 2010

Mr. Cassedy moved to approve the minutes of November 3, 2010. Vice-Chairman Perrin seconded. Motion carried unanimously.

III. APPROVAL OF NEW EMPLOYEE BENEFITS

A. New Member – Samantha Kelly

Mr. Cassedy moved to accept Mr. Snyder into the pension plan. Ms. Kalaghchy seconded. Motion carried unanimously.

IV. REPORT FROM MORGAN JOSEPH CARTER AND TIM HESTER (MORGAN STANLEY)

A. Discussion of the fourth quarter Portfolio and Performance Allocation

Mr. Carter did not recommend any rebalancing at this time

Vice-Chairperson Perrin moved to accept the report as presented. Ms. Kalaghchy seconded. Motion carried unanimously.

B. Recommended change for Large Cap Growth Manager

Mr. Carter recommended changing the Large Cap Growth managers from Growth Fund of America to Mainstay Large Cap Growth.

Ms. Kalaghchy moved to approve the recommended change. Mr. Breglio seconded. Motion carried with all in favor.

V. OTHER BUSINESS

A. Possible change of meeting time from 8:30 AM to 8:00 AM

Mr. Cassedy moved to change the meeting time from 8:30 AM to 8:00 AM. Mr. Breglio seconded. Motion carried unanimously.

VI. ADJOURNMENT

The Board moved to adjourn at 9:16 AM.

_______________________________________
Vincent Benevente, Chairman

_______________________________________
Jennifer Fortin, Recording Secretary