HomeMy WebLinkAboutMinutes GEPB 070622I CITY OF PALM BEACH GARDENS
2 GENERAL EMPLOYEES' PENSION BOARD
3 REGULAR MEETING
4 July 6, 2022
5
6 I. CALL TO ORDER
7 The regular meeting was called to order at 9:00 a.m. by Finance Administrator, Allan Owens.
8 II. PLEDGE OF ALLEGIANCE
9 III. ROLL CALL
10 PRESENT: Allan Owens, Sean O'Brien, Dindial Laljie.
11 ABSENT: None.
12 IV. ADDITIONS, DELETIONS, MODIFICATIONS
13 None.
14 V. APPROVAL OF MINUTES the minutes from the May 28, 2021 meeting.
15 City Manager Designee O'Brien made a motion to approve the May 28, 2021 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, 2021
22 Finance Administrator, Allan Owens presented an overview of the City of Palm Beach Gardens
23 General Employees' Pension Plan Actuarial Valuation Plan as of October 1, 2021.
24 City Manager Designee O'Brien made a motion to approve the actuarial report as presented.
25 Dindial Laliie seconded.
26 Motion passed 3-0.
27 b. APPROVAL OF EXPECTED RATE OF RETURN
28 Finance Administrator Owens presented the assumed total expected amount of investment return
29 of 7.0% for the next year, next several years, and long term thereafter.
30 City Manager Designee O'Brien made a motion to approve the total expected annual rate of
31 investment return for the fund for the next year, the next several years, and the long-term thereafter,
32 at 7.0% net of investment -related expenses.
33 Dindial Laliie seconded.
34 Motion passed 3-0.
35 Dindial Laliie inquired about receiving a copy of his statements.
36 Finance Administrator Owens noted City Manager Designee O'Brien will verify the statements
37 are provided.
38 VIII. COMMENTS BY THE PUBLIC
39 None.
40 IX. COMMENTS BY THE BOARD
41 None.
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GENERAL EMPLOYEE PENSION BOARD PAGE
07-06-22
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X. ADJOURNMENT
Finance Administrator Owens adjourned the meeting at 9:07 a.m.
APPROVED:
1�4
Allan wens, inance Administrator
Sean O'Brien. City Manager Designee
1�) mot
Dindial Laljie, Trustee
ATTEST:
LL2
Patricia Snider, CMC
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 from the Office of the City Clerk.
All referenced attachments on file in the Office of the City Clerk.
GENERAL EMPLOYEE PENSION BOARD
07-06-22
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