Pension Advisory Committee Meeting, 5/12/10

Date: 
Wednesday, May 12, 2010
Minutes: 

ALACHUA COUNTY LIBRARY DISTRICT

PENSION ADVISORY COMMITTEE MINUTES

WEDNESDAY – MAY 12, 2010 - 10:00 AM

HEADQUARTERS LIBRARY FOUNDATION ROOM,

401 EAST UNIVERSITY AVENUE , GAINESVILLE, FL

 

Committee Members Present: Trustees Chair Dorothy Field (presiding), Trustees Vice Chair Kim Worley, Trustee Xavier Monroe, Library Director Sol M. Hirsch, and Tower Road Branch Manager and Staff PAC Representative Ike Welch.

Others Present: Shaney T. Livingston, Director of Administrative Services Division, Todd Hutchison, Alachua County Finance Director, Dan Johnson, Bogdahn Group, and Terry J. Rasch, Assistant to the Library Director

 

I. CALL TO ORDER

Ms. Field called the meeting to order at 10:01 am.

 

II. APPROVAL OF AGENDA

Ms. Worley moved approval of the agenda. Mr. Hirsch seconded the motion. Motion carried.

 

III. APPROVAL OF MINUTES

A. Minutes of Meeting

The Minutes did not reflect the attendance at the March 10, 2010 meeting. The Minutes were approved as distributed with the correction of attendance to be added to the Minutes.

 

IV. UNFINISHED BUSINESS

(There were no items submitted in this category.)

 

V. NEW BUSINESS

A. Quarterly Performance Review - Alachua County Library District Pension Trust Fund Investment

Mr. Johnson, Bogdahn Consulting, LLC, presented the Quarterly Performance Report and answered questions from the Committee.

Mr. Welch moved to accept the report and forward to the Pension Board of Trustees. Ms. Worley seconded the motion. Motion carried.

B. Custodial Bid Evaluations

Mr. Johnson, Bogdahn Consulting, LLC, presented the Custodial Bid evaluations. The Pension Advisory Committee selected Regions Bank as the independent custodian for the Alachua County Library District Pension Trust Fund and forwarded this information to the Pension Board of Trustees.

C. Portfolio Recommendations

Mr. Johnson, Bogdahn Consulting, LLC, presented the information and Bogdahn Consulting, LLC recommendation. The Pension Advisory Committee approved the recommendation of management strategy number 3 for a Passive Domestic Equity/Active International and Fixed Income Investment Managers, correcting the term Signal to Institutional in the written proposal. The Committee forwarded this item to the Pension Board of Trustees with a recommendation for approval of PAC’s recommendation.

VI. INFORMATIONAL ITEMS THAT REQUIRE NO ACTION

(There were no items submitted in this category.)

 

VII. CITIZEN COMMENT

VIII. ADJOURNMENT

The meeting adjourned at 11:25 AM.