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HomeMy WebLinkAboutDocumentation_Regular_Tab 01_08/13/2015 • TEQUESTA GENERA.L EMPLOYEES' PENSION TRUST F0.JND Summary of Actions for Quarter ending 0�13"N i15 Presented August 13� 2015 1. The regular Board meeting was held on May 4� 2015. 2. Bogdahn (by Tyler Grumbles) reviewed the 03/31/15 quarteriy retums for the t�taf �und. At the end of the quarter, the Plan's market value was $3,653,654 and the �sset allocation was Domestic Equity 47.1 %, Intematianal Equity 15.1 %, Domestic �ixed Income 29.9%, Global Fixed I�GOm� 4�7°!�, and Cash Equivalent 3.2°I�,. The r�tums for the quart�r were: t�uarter Retums: Totaf Fund (Gross? 2.63% versus the benchmark at 1.47%. Totai Domestic Equity 2.66% versus the benchmark at 0.95°9� Totat Intematior�af Equity 5.97% versus the benchmaric at 3.59°<0 Total Domestic Fixed Income was 1.52°lo versus the benchmark at 1.32% �'otal Global Fixed Income was 0.31 °lo versus the benchmar4c at -O.Q2°f9 Fiscal Year to Date Retums: Totaf Fund (Gross) 5.75% versus khe benchmark at 3.�5°%.. Total Domestic Equity 9.06% versus the benchmarlc at 5.93% • Total Intemational Equity 4.24% versus the benchmark at -0.36°l0 �"otal Domestic Fixed Income was 2.83% versus the benchmark at 2.54'�fa Total Global Fixed Income was -1.32% versus the benchmark at -1.63°!� 3. Board dis�uss� and adopted a revised set of adminisVative rules. �4, l�ruste�s were reminded of the July 1 Form 1 financial disGosure flling obligat�on. 5. Bonni Jensen reported on the new fili�g requirements under Florida Statutes 112.664 which �quires that in addition to the report whieh must be filed by the actuary, there is a requirement that the Plan Sponsor and the Plan pravide certain infarmatic�r� in the bud�et and on a web site. • The informatian to be provided in the municipal budget (disclosures required under §166.241(3)) and on any website that cantains budget information are: A. The report prepared by the actuary under this law; and B. The funded ratio as determined in the most rec�ent actuariai vaNuatic�n4 NQTE: Neither the law nor the rule specify which funded ratia 4� use � GA�� 67 or the old GA�B 25 • Pa�� 1 �f 2 • TEQUESTA GENERAL EMPLOYEES' PENSION TRt�ST FUND Summary of Actions for Quarter ending 03/31/15 • Pensi�n Plans that have a publM�ly available website are required to pravic�� on that website: A. The plan's most recent financial statement (audit or CAFR) B. The plan's most recent actuarial valuation C, A link to the Division of Retirem�nt Actuarial Summary Fact Sheet f�ar that plan. I am r�r:c�rr�ser��nc�ir�� �h�t y�� al��o �n�lt��i� the �tta���c� cover memorandur�. [�. A chart or g�aph sh�.�v�a�ac,r th� ir�ve�trr�ent � �c�r the �r�vic�u� :� years, beginning with 2013, with a side-by-side comparison of the plan's assumed rate of retum. This chart should also shaw the percentag�s of cash, e�uity, kwnd, and altem�tiv� investments in the pl�r� ��rt��iia. 6. Baard discusse� ��l�� ��r��t`� ������� ���� �� r�p�rt �nci mei irs j�int �es�w�ar� with the Public Safety Board to consider responses to the custodian RFP. The Boards determined to invite Fiduciary Trust, First State, and Wilm�nqton Tn�st for presentations at an August meetin�. • 7. Trustees determined an a cosUben�fiii an�i'ysi� basis nat ta have � stand afc�n� audit performed but to continue to rely on the Village's CAFR and audit procedur�. 8. Future meetings are scheduled for August 10� 2015 and November 2, 2015. PLEASE ADDRESS ANY QUESTIONS IN WRITING AND THE BOARD WlLL RESPOND IN �IN�. � I:tT+�qu��P� t;� 1f�1215UMMARY OF ACTI�NSi2Q15 iUMMRRY C3t= ACT!c�NS�Teq GE Summa�ry �f,�etions es af Q�'�1-15.wpci • �'3f�e 2 Q� � C � �' '. ". � � .. 'a � � .._,. c � .'� ;', �,`�;; � c � .. �. s - �- ��,�, � . o-_ �n � x ;,: G: � .- .- a, n ry � � ^ N V' C� V �, m � � ' » a .. o � �,.: a tu a � � ° � �j - = _,. . ' � �� �� � �� �° �� � � L� �?' � a�o , . - _. , , . � ' ` � �,"g' �,�' � � � q �'» � d �� ; ����N� ` � � ° e�v �� ' �"" ,� + � .- .- � ui � a "�� " ��' r�..v"�i �.- t � � w�i ? , s ti � r a�`�'� a� ` � ' � .- .- � r �f� � � ,. � � ` .� '�,r� E�'' � :�,��� +��,�� r�� '`' r �'s� �''v f �ra� �,�. 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