November 5, 2014

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
November 5, 2014

TOWN OF INDIALANTIC
Brevard County, Florida
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES NO. 15-01
November 5, 2014 9:00 a.m.
MINUTES OF A GENERAL EMPLOYEES PENSION BOARD MEETING HELD IN THE INDIALANTIC TOWN HALL ON NOVEMBER 5, 2014

PRESENT: Vincent Benevente, Chairperson
Karen Turja, Vice Chairperson
Amanda Walsh, 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. OATH OF OFFICE

A. Amanda Walsh
B. Lorraine Schulte

Ms. Walsh and Ms. Schulte were sworn in as members of the General Employees Pension Board.

III APPROVAL OF MINUTES

A. Minutes 14-06 – August 6, 2014

Ms. Turja moved to approve Minutes 14-06. Ms. Schulte seconded. Motion carried unanimously.

IV. REPORT FROM JOSEPH CARTER

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

Mr. Carter presented the quarterly report for the period of July through September, 2014 noting an investment return of 7.2% gross for the Fiscal Year 2014.

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

Mr. Carter recommends two changes to the portfolio. He recommends replacing Artisan Mid Cap Value with Fidelity Advisors Leveraged Co. Stock Fund. He also recommends replacing Wells Fargo High Income fund with Blackrock High Yield Bond Fund.

Ms. Turja moved to accept the recommended changes to the portfolio. Mr. Breglio seconded. Motion carried unanimously.

V. OTHER BUSINESS

Bank statements – July 2014 – September 2014 – presented for informational purposes only.

VI. PUBLIC COMMENT

There were no public comments.

VII. ADJOURNMENT

The meeting adjourned at 9:52 am.
_________________________________________
Karen Turja, Vice Chairperson

__________________________________________
Jennifer Small, Secretary