December 16, 2013

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
December 16, 2013

TOWN OF INDIALANTIC
Brevard County, Florida
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES 14-03
December 16, 2013 9:30 a.m.

PRESENT: Vincent Benevente, Chairman
Ron Cassedy, Member
Anthony Breglio, Member
Joseph Carter, Morgan Stanley
Tim Hester, Morgan Stanley
Laura Eaton, Secretary

ABSENT: Jim Perrin, Vice-Chairman
Karen Turja, Member

I. CALL TO ORDER

Chairman Benevente called the meeting to order at 9:30 am.

II. APPROVAL OF MINUTES

A. Minutes 13-05 – August 7, 2013

Mr. Cassedy moved to approve the minutes. Mr. Breglio seconded. Motion carried unanimously.

III. FOSTER & FOSTER – PRESENTATION OF ACTUARIAL REPORT FOR FY-13

Doug Lozen, Foster & Foster, presented the actuarial report for FY-13.

Mr. Cassedy moved to accept the report. Mr. Breglio seconded. Motion carried unanimously.

IV. REPORT FROM JOSEPH CARTER

A. Review and discussion of the 4th Quarter Performance Report

Joseph Carter presented the quarterly report noting that the fund had a year-to-date return of 14.6%. He requested that a discussion of the investment policy be included on the next agenda.

Mr. Cassedy moved to accept the report. Mr. Breglio seconded. Motion carried unanimously.

V. OTHER BUSINESS

A. Acceptance of new members: Steve Kenyon and Carrie Lombardo

Mr. Cassedy moved to accept the new members. Mr. Breglio seconded. Motion carried unanimously.

B. Bank statements – July, 2013 – September, 2013

Mr. Cassedy moved to accept the bank statements. Mr. Breglio seconded. Motion carried unanimously.

C. Approval of Foster & Foster invoice #5602 in the amount of $6,553

Mr. Cassedy moved to approve the invoice. Mr. Breglio seconded. Motion carried unanimously.

VI. PUBLIC COMMENT

VII. ADJOURNMENT

The meeting adjourned at 10:05 am.

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Vincent Benevente, Chairman

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Laura Eaton, Secretary