May 7, 2014

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
May 7, 2014

TOWN OF INDIALANTIC
Brevard County, Florida
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES NO. 14-05
May 7, 2014 9:00 a.m.
MINUTES OF A GENERAL EMPLOYEES PENSION BOARD MEETING HELD IN THE INDIALANTIC TOWN HALL ON MAY 7, 2014

PRESENT: Vincent Benevente, Chairperson
Karen Turja, Vice Chairperson
Ron Cassedy, Member
Anthony Breglio, Member
Joseph Carter, Morgan Stanley
Tim Hester, Morgan Stanley
Jennifer Small, Secretary

I. CALL TO ORDER

Chairman Benevente called the meeting to order at 9:00 am.

II. APPROVAL OF MINUTES

A. Minutes 14-04 – February 5, 2014

Ms. Turja moved to approve Minutes 14-04. Mr. Breglio seconded. Motion carried unanimously.

III. REPORT FROM JOSEPH CARTER

A. Review and discussion of the 1st Quarter Performance Report

Mr. Carter presented the quarterly report for the period of January through March, 2014 noting an investment return of 1.19%.

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

IV. OTHER BUSINESS

A. Acceptance of new member: Joshua M. Lovelace

Ms. Turja moved to accept the new member. Mr. Breglio seconded. Motion carried unanimously.

B. Approval of invoice from FMIT for Fiduciary Liability Insurance in the amounts of $1620.80 and $50.65 for a total of $1671.45

Ms. Turja moved to approve FMIT invoice. Mr. Cassedy seconded. Motion carried unanimously.

C. Samantha Robertson – Refund of contributions

Mr. Breglio moved to approve a refund of contributions for Ms. Robertson. Ms. Turja seconded. Motion carried unanimously.

D. Brokerage Relationship with Morgan Stanley Smith Barney LLC under the New Municipal Advisor Rule-Certificate needs to be filled out and signed by Chairman

Mr. Breglio motioned to approve. Mr. Cassedy seconded.

E. Bank statements – January, 2014 – March, 2014 – presented for informational purposes only.

V. PUBLIC COMMENT

There were no public comments.

VI. ADJOURNMENT

The meeting adjourned at 9:30 am.
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Vincent Benevente, Chairman

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Jennifer Small, Secretary