Book 1 Page 70 6/19/17 8:30 A.M. MINUTES OF THE CITY OF SARASOTA GENERAL EMPLOYEES' PENSION PLAN BOARD OF TRUSTEES REGULAR MEETING OF JUNE 19, 2017 Present: Chair Barry Keeler, Vice Chair Ryan Chapdelain, Secretary Pamela Nadalini (arrived at 8:32 a.m.), Treasurer Kelly Strickland, Trustees Bonnie Wagner, Gretchen Schneider and Kari McVaugh Others: Attorney Scott Christiansen, Senior Pension Analyst Anthony Ferrer, Senior Pension Accountant Cynthia Akersloot and Pension Specialist Lois Belle Absent: None 1. CALL MEETING TO ORDER: Chair Keeler called the meeting to order at 8:30 a.m. 2. PLEDGE OF CIVILITY: Chair Keeler read into the record a memorandum from Mayor Willie Charles Shaw, dated February 13, 2015, entitled "City Commission and Advisory Boards Meeting Protocols and Pledge of Civility." 3. ROLL CALL: Chair Keeler requested Senior Pension Analyst Ferrer call roll in Secretary Nadalini's absence; Senior Pension Analyst Ferrer called the roll and a quorum of the Trustees in attendance was noted. 4. PUBLIC INPUT: No one signed up to speak. Secretary Nadalini entered Chambers at 8:32 a.m. 5. APPROVAL OF THE MINUTES: 5.1. Approval Re: Minutes of General Employees Pension Plan Board of Trustees Regular Meeting of May 15, 2017 A motion was made by Trustee Schneider and seconded by Treasurer Strickland to approve the minutes ofi the General Employees' Pension Plan Board of Trustees Regular Meeting of May 15, 2017. Motion carried unanimously (7-0). 6. BOARD APPOINTMENT: 6.1. Appointment Re: Nomination to General Employees' Pension Plan - Seat GP3 Presenter(s): Secretary Nadalini There was consensus by the Board to reappoint Kari McVaugh to Seat GP3. 7. APPROVAL OF RETIREMENT REQUEST/S): 7.1, Approval Re: Early Retirement Request for Edgardo Miguel Gomez Presenter/s): Senior Pension Analyst Ferrer Senior Pension Analyst Ferrer stated that Edgardo Miguel Gomez is 62 years of age, has 27.08 years of service, and elected the Lifetime Only option. A motion was made by Secretary Nadalini and seconded by Vice Chair Chapdelain for the Board to approve the early retirement request for Edgardo Miguel Gomez. Motion carried unanimously (7-0). 8. INVESTMENT PERFORMANCE REVIEW: 8.1. Presentation and Discussion Re: HGK Investment Performance Presenter(s): Matthew Witschel, Director, HGK. Asset Management Matthew Witschel, Director, HGK Asset Management came before the Board. Mr. Witschel provided an overview of HGK's investment strategy and discussed the fund's performance since inception; that the fund underperformed in 2015; that in 2016 thei fund outperformed the benchmark by about 400 basis points, making up for some losses. In response to a question from Trustee Wagner asking if the figures were net of fees, Mr. Witschel stated that he thought the figure were net of fees. Mr. Witschel discussed some specific holdings within the fund. There were no further questions from the Board and Chair Keeler thanked Mr. Witschel for his presentation. 9. UNFINISHED BUSINESS None 10. NEW BUSINESS: 10.1. Adoption Re: Proposed Resolution No. 17-01, designating a Records Management Liaison Officer of the General Employees' Pension Plan and adopting Records Retention Schedule GS1-SL Presenter(s): Attorney Scott Christiansen, Christiansen & Dehner Attorney Christiansen stated that each entity is required to have a designated Records Management Liaison Officer (RMLO) and that the City Auditor and Clerk has been doing this; that this resolution formalizes the General Employees' Pension Plan RMLO; that the proposed Resolution also seeks to adopt Record Retention Schedule GS1-SL. A motion was made by Vice Chair Chapdelain and seconded by Trustee Schneider to approve Resolution No. 17-01, designating Pamela M. Nadalini as the General Employees' Pension Plan RMLO and adopting the GS1-SL Records Retention Schedule. Motion carried unanimously (7-0). Book 1 Page 71 6/19/17 8:30. A.M. Book 1 Page 72 6/19/17 8:30 A.M. 11. ATTORNEY MATTERS: Attorney Christiansen reminded Board members that Financial Disclosure Statements are due July 1, 2017; that Form 1 must be filed with the Supervisor of Elections. Attorney Christiansen stated that the legislative session is over; that Senate Bill 80 is a change to Public Records Section 119 that states Attorney fees are no longer automatically awarded; that it is now at the discretion of the court if fees should be awarded. Attorney Christiansen stated that the. Annual State ofi the Pension Workshop is scheduled for Thursday, August 31, 2017 from 5:00 p.m. to 8:00 p.m.; that he will be in presenting for both the General Employees' Pension Plan and the Police Officers' Pension Plan. In response to a question from Secretary Nadalini asking about Sunshine Law implications for Trustees attending the State of the Pension Workshop, Attorney Christiansen stated that Trustees cannot interact but that the meeting is being held in a public forum. 12. OTHER MATTERS: In response to a question from Vice Chair Chapdelain asking the status of the Operating Rules and Procedures, Attorney Christiansen stated that the draft the General Employees' Pension Plan Board of Trustees have is the current pending final draft. Secretary Nadalini stated that she has sent the draft to the City Attorney and that she will address with the Board. 13. ADJOURN. Chair Keeler adjourned the General Employees Pension Plan Board of Trustees Regular Meeting at 9:02 a.m. RaRY 1 Keeee CPPT 0 - Chair Barry Keeler Secretary Pamela Nadalini