HomeMy WebLinkAboutMinutes GEPB 0503191 CITY OF PALM BEACH GARDENS
2 GENERAL EMPLOYEES' PENSION BOARD
3 REGULAR MEETING
4 May 3, 2019
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6 I. CALL TO ORDER
7 The regular meeting was called to order at 1 :30 p.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 IV. ADDITIONS, DELETIONS, MODIFICATIONS
13 None.
14 V. APPROVAL OF MINUTES the minutes from April 24, 2018 meeting.
15 Anderson-Pickle made a motion to approve the April 24, 2018 minutes.
16 Dindial Laliie seconded.
17 Motion passed 3-0.
18 VI. OLD BUSINESS
19 None.
20 VII. NEW BUSINESS
21 a. REVIEW AND DISCUSS ACTUARIAL VALUATION AS OF OCTOBER 1, 2018
22 Anderson-Pickle made a motion to accept the revised actuarial report which calculated the FY
23 2019/2020 minimum required contribution.
24 Dindial Laljie seconded.
25 Motion passed 3-0.
26 b. APPROVAL OF EXPECTED RA TE OF RETURN
27 Anderson-Pickle made a motion to approve the State Letter of Declaration of Returns, which
28 states that the total expected annual rate of investment return for our fund for the next year, the
29 next several years, and the long-term thereafter, shall be 7.0% net of investment related
30 expenses.
31 Dindial Laljie seconded.
32 Motion passed 3-0.
33 VIII. COMMENTS BY THE PUBLIC
34 None.
35 IX. COMMENTS BY THE BOARD
36 None.
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GENERAL EMPLOYEE PENSION BOARD
05-03-19
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X. ADJO URNMENT
Anderson-Pickle made a motion to adjourn the meeting.
Dindial L aliie seconded.
Motion p assed 3-0.
Finance A dministrator Ow ens adjourned the meeting at 2:03 p .m.
APPROVED
Allan Owens, Finance Administrator
*Mary Anderson-Pickle , City Manager Designee
~ vi:_o1 ;J ::10~
Dindial Laljie, Trustee
*These minutes were brought before the General Employees Pension Board on May 22, 2020.
Mary Anderson-Pickle resigned on July 31 , 2019. Therefore, only Allan Owens and Dindial
Laljie have signed.
ATT ES T :
.ud
Patricia Snider, CMC
City Clerk
NOTE: These minutes are prepared in compliance with 286.011 F.S. and are not verbatim tran scripts of
the meeting. A verbatim audio recording is available from the Office of the City Clerk.
All referenced attachments on file in the Office of the City Clerk.
GENERAL EMPLOYEE PENSION BOARD
05 -03-19
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