LimeBike Memorandum of Understanding

General Employee Pension Board Meeting Minutes - October 31, 2013

MIAMI SHORES VILLAGE

GENERAL EMPLOYEE PENSION BOARD MEETING

 

 

The Miami Shores Village General Employee Pension Board and Police Retirement Board jointly met on Thursday, October 31, 2013 at the C. Lawton McCall Community Center. The General Employee Pension Board meeting was called to order at 8:25 AM.   The following individuals were present for the meeting:

GENERAL EMPLOYEE PENSION BOARD                               

             

Herta Holly

Mary Ross Agosta

              Tom Benton

              Averill Dorsett (arrived during Dave West’s report)                                     

              Jim McCoy                                                                                

              Angela Dorney  (arrived during Dave West’s report)                                                                

             

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

APPROVAL OF MINUTES – SEPTEMBER 24, 2013

Ms. Ross Agosta moved approval of the September 24, 2013 Board meeting Minutes. Mr. Benton seconded the motion and the vote was unanimous in favor of the motion.

APPROVAL OF PAYMENT WARRANT: 2014-001

Ms. Ross Agosta moved to approve payment warrant #2014-001. Mr. Benton 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 year end fund performances, indicating that the Village’s funds finished the year with very good returns.   Mr. West provided information on a number of the investment areas and reviewed the comparative performances of the funds. Mr. West reported that the Salem Trust report is still preliminary with an amended report due for year end. The specific investment performances referenced are attached hereto and made a part hereof.  

A discussion was initiated by a member of the Police Retirement Pension Board regarding the possibility of investing monies in a Real Estate Investment Fund. Opinions were provided by both Mr. West of the Bogdahn Group as well as the Pension Attorney, Steve Cypen. A number of Board Members offered their comments as well. It was the consensus of the Board to have an educational session on Real Estate Investment Funds during the next Board Meeting.

IRS QUALIFIED PLAN DETERMINATION

Mr. Cypen provided information regarding the Pension Plan’s IRS filing status. Mr. Cypen’s comments were informational only and no action was required or taken.

With no other business being presented and no public comment offered, the meeting was adjourned at 9:12 AM.

                                                                                                                   _________________________

                                                                                                                   Herta Holly, Chair

_________________________

Barbara A. Estep, MMC

Village Clerk