March 11, 2015

This material was filed under
[ General Employees Pension Board - Meeting Minutes ]
March 11, 2015

TOWN OF INDIALANTIC
Brevard County, Florida
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES NO. 15-03
March 11, 2015 9:00 a.m.
MINUTES OF A GENERAL EMPLOYEES PENSION BOARD MEETING HELD IN THE INDIALANTIC TOWN HALL ON MARCH 11, 2015

PRESENT: Vincent Benevente, Chairman
Karen Turja, Vice Chairperson
Amanda Walsh, Member
Victoria Twitty-Mercer, Member
Lorraine Schulte, Chairperson
Joseph Carter, Morgan Stanley
Tim Hester, Morgan Stanley
Jennifer Small, Secretary

1. CALL TO ORDER

Chairman Benevente called the meeting to order at 8:53 am.

2. APPROVAL OF MINUTES

A. Minutes 15-02 – December 11, 2014

Ms. Turja moved to approve Minutes 15-02. Ms. Schulte seconded. Motion carried unanimously.

3. OATH OF OFFICE

A. Victoria Twitty-Mercer

Ms. Twitty-Mercer was sworn in as a member of the General Employees Pension Board.

4. REPORT FROM JOSEPH CARTER, MORGAN STANLEY

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

Mr. Carter presented the quarterly report for the period of October through December, 2014 noting an investment return of 1.23% gross for the 1st quarter.

Ms. Schulte moved to accept the report. Ms. Walsh seconded. Motion carried unanimously.

5. 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.

6. OTHER BUSINESS

A. Approval of invoice #6701 from Foster & Foster in the amount of $5,711.00

Ms. Turja moved to accept invoice #6701. Ms. Schulte seconded. Motion carried unanimously.

B. Approval of invoice #6862 from Foster & Foster in the amount of $3,509.00

Ms. Turja moved to accept invoice #6862. Ms. Schulte seconded. Motion carried unanimously.

C. Approval of retirement benefits for Ron Cassedy effective March 1, 2015

Ms. Turja moved to accept Ron Cassedy’s retirement benefits. Ms. Schulte seconded. Motion carried unanimously.

D. Acceptance of new member: Joseph F. Gervais Jr.

Ms. Turja moved to accept the new member, Joseph F. Gervais. Ms. Schulte seconded. Motion carried unanimously.

E. Acceptance of new member: John Buhler

Ms. Turja moved to accept the new member, John Buhler. Mr. Benevente seconded. Motion carried unanimously.

F. Steven Kenyon – refund of contributions

Ms. Turja moved to approve a refund of contributions for Steven Kenyon. Ms. Schulte seconded. Motion carried unanimously.

G. Bank Statements for October-December 2014 – presented for informational purposes

7. PUBLIC COMMENT

8. ADJOURNMENT

The meeting adjourned at 10:15 am.
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Vincent Benevente, Chairman

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Jennifer Small, Secretary