PB 02/17/2015 Minutes - Laserfiche WebLink

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CON W'Camolwrry PP1ky0frw",,' wof .m Moira of"I MvMeL, Nfinotvn of Vvimlao, 17, VoS Vrectim-- 1%u,V 3 OT6 C. The Bogdahn Group - Replacement Search for Galliard Fixed Income During the preceding three years. Boculahn has bocci discussing making a change away From Galliard Core Fixed Income once the plan recuperated its initial losses. Galhard's plan is an intermediate aggregate portfolio and Bo-dalm is recommending a plan with more flexibility. In addition, Galliard tends to be overweight in government bonds and it is recommended t o Us s e a 1111n a r go that has inore saabildy. Several plans were presented that include mutual foods as well as separate bond portfolios, MOTION. Member Van Ore moved to authorize The Bogdabn Croup to move all Foods currently v invested with Galliard Fixed Income to Baird Advisors Aggregote Bond Fund. Motion was seconded by Mcnicher flutford. Motion carried unanimously by voice vote 4-0. D. The Bogdahn f croup -- Revised Investment Policy Statement The loVeStIflCut Policy StatC1110111 Was revised to reflect recent changes in investments to include Real Estate and Global Tactical Asset Allocation. MOTION: Member Flufford moved to approve the Revised Investment Policy Statement. Motion was seconded by Member Harder. Motion carried unanimously by voice vote 4-0. 6. New Business A, Operating Rules and Procedures The Operating Rules and Procedures were updated by the plan attor-cley to chang-C file term expiration and appointment dates ol'the Board; however, it was decided aller discussion, to maintain the current Calendars order to correspond with City Commission schedule. Language was added or corrected to address having a Plan Administrator. Due to the upcoming consolidation of the Fire Department with Seminole County, it was requeoted to change Life verbiage on page 3 ffom: "The election shall he cowhieted by placeinvot qfa ballot box of the Police and Fire D, n1ralfews to -7he election shall be conebtefed bY plucernent of, a ballet ho-Y in the Police Department Flealclarurxcra and iq an appropricae location fear- the Fire Dq%frucleirr." . Additionally, Mr, Christiansen SUggCStCd that a provision be added to permit electronic ballfainc--,. Other minor updates were also completed, MOTION: Member Haider moved to approve the updated Operating Rules and Procedures Nvith changes as discussed. Motion was seconded by Member Van Ore. Motion carried unattimously by voice vote 4-0. 7. Old Business Al Benefit Calculations lbr Fire Department Members Member Hettler requested a, Special Meeting, to occur in June, with the board as well is the plan attorney, a representative from poster & Foster, and a representative bout FRS to answer questions and provide benefit calculations for Fire plan members. The motion was tabled until the meeting scheduled for May 12, 2015,