HomeMy WebLinkAboutPresentation_Regular_4/11/2024Summary of Actions for Quarter ending 1 Presented April 11, 2024December 31, 2023
2 2024.The next meeting is scheduled for May 6, on February 5, 2024.The regular quarterly Board meeting was held
Dana Investment Advisors 3 ConsultingAndCo
4.%87.2ofindexversus%84.2wasreturnannualinception2005/3/10Since◦.%14.1ofindexversus%33.1wasreturnannualaverageyear-5◦%06.2-ofindexversus%85.1-wasreturnannualaverageyear-3◦.23/31/12endedquarterthefor
%50.5ofindexversus%11.5werereturnsincomeFixed.%99.9ofindexversus%58.9wasreturnannualinception2005/3/10Since◦.%69.15ofindexversus%15.14wasreturnannualaverageyear-5◦%00.10ofindexversus%57.7wasreturnan
nualaverageyear-3◦.23/31/12endedquarterthefor%69.11ofindexversus%03.13werereturnsEquity
5 Cash Equivalent 0.7% ◦Real Estate 8.4%◦Global Fixed Income 3.9%◦Domestic Fixed Income 19.1%◦International Equity 13.1%◦Domestic Equity 54.8%◦was:At the end of the quarter, the asset
allocation was $9,435,721At the end of the quarter, the Plan’s market value 2023 reportJennifer Gainfort reviewed the December 31,
‣6%7.0Disbursement&Receipt o%4.8EstateRealASB o%9.3IncomeDiversifiedPIMCO o%1.FixedDana o%3.6InternationalDFA o%7.6GrowthEuropacific o%9.IndexTSMVanguard o%9.EquityDana o:ManagersofAllocationAsset
‣7 NCREIF%andCredit,GlobalBB%5Agg,.IntermedBloomberg%MSCI,%,3000Russell%:FundTotal‣CoreDiversifiedEndOpen–IndexFundNCREIFEstateRealASB o(Hedged)CreditGlobalBarclaysBloombergIncomeDiversifiedPIMCO
o Credit.Agg.IntermedBarclaysBloombergFixedDana o ValueEAFEMSCIValueIntlDFA o USAexWorldMSCI6RFundGrowthEuropacific o Index3000RussellIndexTSMVanguard o Index500S&PCoreCapLargeDana
o:ManagersIndividual
8 95Population 0.082.750.780.7910.336.2613.81Percentile th 0.725.854.512.3817.9111.0233.38Quartile rd 31.428.538.554.9524.2114.3843.69Median2.6610.5314.4115.3232.1817.7751.15Quartile
st 110.5514.9527.6530.7466.2523.3458.51Percentile th 50.72 (76)8.43 (52)0.003.87 63)19.14 (72)13.08 (60)54.76 (12)PlanRetirement Employees’General Tequesta CashEstateReal InvestmentsAlternative
IncomeFixed Intl. IncomeFixed EquityIntl. US Equity
9 5.23%-7.78% vs bench at -Real Estate ◦Global Fixed Inc. 7.80% vs bench at 7.32%◦% vs bench at 5.50%5.08Dom. Fixed Inc. ◦Int’l Equity 8.39% vs bench at 9.82%◦Dom. Equity 12.58% vs
bench at 12.07%◦Total Fund (Gross) 8.20% vs bench at 8.45%
10 which is in the 26th percentile Since inception (11/1/2000), the annualized return is 6.45% percentile year return is 9.05% which is in the 33rd -The annualized 5percentileyear
return is 3.49% which is in the 62nd -The annualized 3percentile.year return is 12.48% which is in the 69th -The annualized 1quarter (which is also the fiscal year to date).Overall
plan return of 8.20% was in the 56th percentile for the
Gabriel, Roeder, Smith & 11 Company
12 of return of 6.5%Reasonable assumptions including an assumed rate ◦Contribution Rate Low level of volatility in the Required Village ◦Plan is well funded◦Employees Pension Plans
in FloridaLow contribution rate relative to other General ◦reasons:in excellent actuarial status, for the following Overall, the actuary reported that the Fund is
13 the previous valuation.There have been no changes in benefits since 1, 2024, is 10.09% of payroll ($442,104). The Village’s contribution beginning October September 30, 2023.The
Fund is well funded at 99.3% as of
14 expected).increases (6.6% actual compared to 5.2% expected) and higher than expected salary an actuarial basis compared to 6.5% than expected investment earnings (4.8% on The primary
reasons for the change is lower $90,063, or 1.34% of payroll, since last year.The Village’s contribution rate has increased
15 92.9%be 12.15% and the funded ratio would be contribution, the Village’s contribution would If market value was the basis of the years. Fund’s actual experience over the next 4
recognized is subject to change based on the over the next 4 years. The amount actually This difference will be gradually recognized than the actuarial value of assets.The market
value of assets are $603,591 less
Administrative Manager and 16 ProvisionsShort Summary of Plan Attorney Reports
17 associates.Mariner is a national wealth advisor with over 1500 ◦remain in place for the Tequesta Funds.The same service provider, contract, and terms will ◦keeping its own RIA and
having its own Form ADV.separate SEC registered investment adviser, Mariner Institutional will continue to exist as a ◦“Mariner Institutional.”name will become AndCo’son April 2, 2024.
with Mariner, LLC which is expected to close is entering into a strategic partnership AndCoThe Investment Consultant reported that
.18 report.Resource Centers was issued an unmodified discrepancies. There were no exceptions and testing to determine if there are any of the operation of organization, including 2023.
This is a review of the internal controls Report for the year ending September 30, 18 SOC 1 Type 2 Audit -completed their SSAEThe Administrator reported that they recently
.19 reimbursement in accordance with the GSA rates.Travel expense policy revised to allow for ◦New online Form 1 filing.◦The Board attorney reported on: