HomeMy WebLinkAboutMinutes GEPB 0223181 CITY OF PALM BEACH GARDENS
2 GENERAL EMPLOYEES' PENSION BOARD
3 REGULAR MEETING
4 February 23, 2018
5
6 I. CALL TO ORDER
7 The regular meeting was called to order at 8:32 a.m. by Finance Administrator, Allan Owens.
8 II. PLEDGE OF ALLEGIANCE
9 III. ROLL CALL
10 PRESENT: Allan Owens, Mary Anderson-Pickle, Dindial Laljie.
11 ABSENT: None.
12 ALSO PRESENT: Jeremy Langley, Florida League of Cities, Chuck Carr, Southern Actuarial
13 Services (via phone)
14 IV. ADDITIONS, DELETIONS, MODIFICATIONS
15 None.
16 V. APPROVAL OF MINUTES from the October 30, 2017 meeting.
17 City Manager Designee Anderson-Pickle made a motion to approve the October 30, 2017
18 meeting minutes.
19 Dindial Laliie seconded.
20 Motion passed 3-0.
21 VI. OLD BUSINESS
22 None.
23 VII. NEW BUSINESS
24 A. REVIEW AND DISCUSS ACTUARIAL VALUATION AS OF OCTOBER 1, 2017
25 Chuck Carr, Southern Actuarial Services provided staff with a brief review of the actuarial
26 valuation. Discussion ensued.
27 City Manager Designee Anderson-Pickle made a motion to not accept the October 1, 2017
28 Actuarial Valuation Report, and to revise the report to calculate the FY 2018/19 minimum
29 required contribution.
30 Dindial Laliie seconded.
31 Motion passed 3-0.
32 B. REVIEW AND APPROVE STATE LETTER OF DECLARATIONS OF RETURNS
33 City Manager Designee Anderson-Pickle made a motion to approve the State Letter of
34 Declaration of Returns, which states that the total expected annual rate of investment return for
35 our fund for the next year, the next several years, and the long-term thereafter, shall be 7.0% net
36 of investment related expenses.
37 Finance Administrator Owens seconded.
38 Motion passed 3-0.
39 VIII. COMMENTS BY THE PUBLIC
40 None.
41 IX. COMMENTSBYTHEBOARD
42 None.
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GENERAL EMPLOYEE PENSION BOARD
02-23-18
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X. ADJOURNMENT
City Manager Designee Anderson-Pickle made a motion to adjourn the meeting
Finance Administrator Owens seconded.
Motion passed 3-0.
Finance Administrator Owens adjourned the meeting at 9:02 a.m.
APPROVED
Allan Owens, Finance Administra&
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Mary Anderson-Pickle, City Manager Designee
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Dindial Laljie, Trus
ATTEST:
Kenthia White
Assistant to the City Clerk
NOTE: These minutes are prepared in compliance with 286.011 F .S. and are not verbatim transcripts of
the meeting. A verbatim audio recording is available on the City Website or from the Office of the City
Clerk.
All referenced attachments on file in the Office of the City Clerk.
GENERAL EMPLOYEE PENSION BOARD
02-23-18
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