LimeBike Memorandum of Understanding

General Employee Pension Board Meeting Minutes - March, 20, 2013

MIAMI SHORES VILLAGE

GENERAL EMPLOYEE PENSION BOARD MEETING

 

 

The Miami Shores Village General Employee Pension Board and Police Retirement Board jointly met on Wednesday, March 20, 2013 at the C. Lawton McCall Community Center. The General Employee Pension Board meeting was called to order at 8:40 AM.   The following individuals were present for the meeting:

GENERAL EMPLOYEE PENSION BOARD                               

             

Mary Ross Agosta

Tom Benton                                  

              Al Davis                                                                       

              Jim McCoy                                                                                

              Angela Dorney                                                                         

             

Also present were Elizabeth Keeley, Plan Administrator and Dave West of the Bogdahn Group.

APPROVAL OF THE MINUTES

Mr. Benton moved to approve the November 9, 2012 minutes as submitted. Ms. Dorney seconded the motion and the vote was unanimous in favor of the motion.

APPROVAL OF PAYMENT WARRANT: 2013-003

Mr. Benton moved to approve payment of warrant #2013-003. Mr. McCoy seconded the motion and the vote was unanimous in favor of the motion.

APPROVAL OF DATA USE BY ACTUARY FOR OPEB STUDY

Ms. Keeley briefly explained the reason for the request for approval, indicating that the Study was a requirement and that the actuary, Gabriel Roeder Smith would be completing the Study for the Plan. Mr. Benton moved approval of the item. Ms. Dorney seconded the motion and the vote was unanimous in favor of the motion.

INVESTMENT CONSULTANT REPORT

Mr. Dave West from The Bogdahn Group provided an overview of the last quarter, as well as the first two months of the current quarter, and the economic conditions and rational for market performances. Mr. West provided information on a number of the investment areas and reviewed the comparative performances of the funds. The specific investment performances referenced are attached hereto and made a part hereof. Mr. West reported that all Managers are performing well above the bench marks for the reporting period. Additionally, Mr. West indicated that representatives from The Bogdahn Group met with Heartland representatives regarding their poor performance in the past quarter. No additional action is warranted at this time as their performance has improved.  

DISCUSSION REGARDING FUND DIVERSIFICATION

Due to the absence of a number of Board Members, this item was postponed to a future date.

ADJOURNMENT:

The General Employee Pension Board Meeting was adjourned at 9:15 AM.

                                                                                                                   _________________________

                                                                                                                   Mary Ross Agosta, Chair

_________________________

Barbara A. Estep, MMC

Village Clerk