January 23, 2014

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[ Police/Fire Pension Board of Trustees - Meeting Minutes ]
January 23, 2014

TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
PENSION BOARD OF TRUSTEES – POLICE/FIRE
MINUTES 14-02
January 23, 2014 10:30 AM

PRESENT: Gerald Kowalski, Chairman
Sgt. Mike Casey, Secretary
Sgt. Michael Connor, PD Member
Michael Humphrey, Fire Dept. Member
Dan Johnson, Bogdhan Group
Bonni Jensen, Attorney (Attended telephonically)

ABSENT: Bruce Bogert, Member (Excused)

I. CALL TO ORDER AT 10:30 AM

Chairman Kowalski called the meeting to order at 10:30 am.

II. APPROVAL OF MEETING MINUTES

A. Minutes 14-01, December 18, 2013

Mr. Connor moved to approve the minutes. Mr. Humphrey seconded. Motion carried unanimously.

III. ACCEPTANCE OF THE 1st QUARTER PERFORMANCE REPORT FROM THE BOGDAHN GROUP

Mr. Johnson presented the performance report for October through December, 2013.

Mr. Casey moved to accept the report. Mr. Connor seconded. Motion carried unanimously.

IV. DISCUSSION ON EXPECTED RATE OF RETURN – DAN JOHNSON

Mr. Johnson discussed the expected rate of return on the Board’s investments.

Mr. Casey moved to accept an expected rate of return of 8%. Mr. Humphrey seconded. Motion carried unanimously.

V. OTHER BUSINESS

A. Approval of invoice #1765 from Integrity Fixed Income in the amount of $1,255.47
B. Approval of invoice #72125 from Attorney Jensen in the amount of $99.95
C. Approval of invoice #9731 from The Bogdahn Group in the amount of $3,875.00

Mr. Connor moved to approve items A, B and C. Mr. Humphrey seconded. Motion carried unanimously.
D. 2014 IRS Mileage Rate – Memo from Attorney Jensen

The Board noted that the IRS mileage rate for 2014 is 56 cents per mile.

E. Bank statements October-December 2013 – presented for informational purposes only.

VI. PUBLIC COMMENT

There were no public comments.

VII. ADJOURMENT

Mr. Connor moved to adjourn the meeting at 11:25 am. Mr. Humphrey seconded. Motion carried unanimously.

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Gerald Kowalski, Chairman

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Laura Eaton, Recording Secretary