General Employee Pension Board - March 20, 2013MIAMI 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