May 2, 2012

TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
GENERAL EMPLOYEES PENSION BOARD OF TRUSTEES
MINUTES 12-03
May 2, 2012 9:00 a.m.

MEETING OF A PENSION BOARD OF TRUSTEES – GENERAL EMPLOYEES MEETING HELD IN THE INDIALANTIC TOWN HALL ON MAY 2, 2012.

PRESENT
Vincent Benevente, Chairman
Jim Perrin, Vice-Chairman
Anthony Breglio, Member
Ron Cassedy, Member
Jennifer Fortin, Recording Secretary
Joe Carter and Tim Hester (MSSB)

ABSENT
Karen Turja, Member (excused)

I. CALL TO ORDER AT 9:00 a.m.

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

II. APPROVAL OF MINUTES

A. Minutes 12-02, February 1, 2012

Mr. Cassedy moved to approve the minutes of February 1,2012. Vice-Chairman Perrin seconded. Motion carried unanimously.

III. REPORT FROM JOSEPH CARTER AND TIM HESTER (MORGAN STANLEY)

A. Discussion of the second quarter Portfolio and Performance Allocation

Mr. Carter did not recommend any rebalancing at this time

Chairman Benevente moved to accept the report as presented. Mr. Cassedy seconded. Motion carried unanimously.

IV. OTHER BUSINESS

A. Ashley Powell – new member

Vice-Chairman Perrin moved to accept Ms. Powell as a new member into the pension plan. Mr. Cassedy seconded. Motion carried unanimously.

B. Approval of invoice #0268 from FMIT in the amount of $1,413.14

C. Approval of invoice #0268 from FMIT in the amount of $126.62

Mr. Cassedy moved to approve both invoices from FMIT for a total amount of $1,539.76. Vice-Chairman Perrin seconded. Motion carried unanimously.

D. FYI – Florida Pensions April 2012 issue
No action taken

E. FYI – Copy of bank statements and requested monthly and quarterly breakdown
No action taken

V. ADJOURNMENT

The Board adjourned at 9:30 a.m.

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Vincent Benevente, Chairman

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Jennifer M. Fortin, Recording Secretary