HomeMy WebLinkAboutDocumentation_Pension Public Safety_Tab 09_05/04/2009BOARD OF TRUSTEES
TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND
MEETING MINUTES
MAY 5, 2008
PAGE 2
Steve Palmquist of Gabriel, Roeder and Smith reviewed the actuarial valuation
report dated October 1, 2007 and reported the plan was in good shape, with respect
to the level of funding.
MOTION:
Secretary Giblin moved to accept the actuarial valuation report dated Octrober
1, 2007. Board Member Cooper seconded the motion, which carried by
unanimous 3-0-vote.
MOTION:
Secretary Giblin moved to authorize Mr. Palmquist to provide information to
the board regarding asset smoothing on a S-year basis. Board Member
Cooper seconded the motion, which carried by unanimous 3-0 vote.
JoAnn Forsythe advised the Board that the State of Florida was reviewing mortality
tables and will likely increase life expectancies. Consensus of the Board was to wait
to revise mortality tables used for pension planning..
3. Presentation By Investment Manager
Tony Brown of Rockwood Capital Advisors made their company's semiannual
presentation. Mr. Brown reviewed the quarter ended March 31, 2008, advising
earnings were down for the quarter and this market would continue to be volatile
until there was stability in housing pricing. Mr. Brown reported this was a slow sell
market, and that there were no corporate notes that were at issue.
4. Presentation By Monitor
Dave West of Bogdahn Consulting, LLC presented their quarterly report for the
period ended March 31, 2008, and was advised this report provided data but did not
include conclusions. Mr. West reviewed their attribution report; Chair Nielson
commented this was a great analysis and requested Bogdahn continue to provide it.
MOTION:
Secretary Giblin moved to accept the quarterly reports from Rockwood Capital
Advisors and Bogdahn Consulting LLC. Board Member Cooper seconded the
motion, which carried by unanimous 3-0 vote.
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