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�.
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