April 15, 2015

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
April 15, 2015

TOWN OF INDIALANTIC
Brevard County, Florida
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES NO. 15-04
April 15, 2015 3:00 p.m.
MINUTES OF A GENERAL EMPLOYEES PENSION BOARD MEETING HELD IN THE INDIALANTIC TOWN HALL ON APRIL 15, 2015

PRESENT: Vincent Benevente, Chairman
Karen Turja, Vice Chairperson
Amanda Walsh, Member
Victoria Twitty-Mercer, Member
Lorraine Schulte, Chairperson
Jennifer Small, Secretary

1. CALL TO ORDER

Chairman Benevente called the meeting to order at 3:00 PM.

2. PENSION UPDATE BY PAUL SHAMOUN, ASSOCIATE DIRECTOR OF FINANCIAL SERVICES, FROM FLORIDA LEAGUE OF CITIES

Mr. Shamoun provided the Board with information regarding the Florida League of Cities’ Florida Municipal Pension Trust Fund.

Mr. Shamoun told the Board that there is a one time fee of $2500 to move everything over to their plan. There is also a $1000 annual fee and 5 basis points per quarter.

Mr. Shamoun passed out a chart to the Board showing the historic return information of the Town’s plan versus Florida Municipal Pension Trust Fund in the last 5 years based on 60/40 portfolio.

After discussion, Chairman Benevente thanked Mr. Shamoun for the information. Mr. Shamoun told the Board that he would gladly answer any more questions that they might have.

3. ADJOURNMENT

The meeting adjourned at 3:50 pm.
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Vincent Benevente, Chairman

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Jennifer Small, Secretary