TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
PENSION BOARD OF TRUSTEES - POLICE/FIRE
April 16, 2003, 10:00 A.M.
I. CALL TO ORDER AT 10:00 A.M.
PRESENT
Eugene Terkoski, Chairman
Capt. Dennis Greehy, Fire Member, Secretary
Nancee J. Hay, Member
Gerald Kowalski, Member
Al Glover, Financial Adviser
Jan Acker, Recording Secretary
II. APPROVAL OF MINUTES 03-02 February 19, 2003
Capt. Greehy moved to approve Minutes 03-02. Ms. Hay seconded. Motion passed unanimously.
III. REPORT FROM AL GLOVER
Scott Glover gave the report and recommended no changes to the Asset Allocation Model.
For the first quarter of the year 2003, the portfolio yielded –2.01%. The proxy yielded –1.78%.
Mr. Glover presented an educational program informing the Board of terms & definitions used in investment managing.
The Board inquired if the presentation by Mr. Glover would suffice as an educational requirement. Mr. Glover advised this will be determined by the State.
IV. OTHER
A. Memo from Deputy Town Clerk
The Board made no recommendations based on the memo from the Deputy Town Clerk.
B. Acceptance of Officer Tyler R. Davenport into the retirement system
Capt. Greehy moved to accept Officer Davenport into the retirement system. Sgt. Casey seconded. Motion passed unanimously.
C. Acceptance of change in Capt. Duane Boyd’s beneficiary
Sgt. Casey moved to accept the beneficiary change of Capt. Boyd. Capt. Greehy seconded. Motion passed unanimously.
D. Pension refund request by Brett Freeman - $650.25
Sgt. Casey moved to refund $650.25 to Brett Freeman. Ms. Hay seconded. Motion passed unanimously.
V. ADJOURNMENT
Chairman Terkoski adjourned the meeting at 11:17 a.m. Next meeting July 16, 2003.
Eugene Terkoski, Chairman
Jan Acker, Secretary