Pension Board

DRAFT MINUTES UNIFIED GOVERNMENT OF ATHENS-CLARKE COUNTY PENSION BOARD SPECIAL CALLED MEETING WEDNESDAY, October 23, 2019, 3:30 PM The Athens-Clarke County Pension Board held a special called meeting on Wednesday, October 23, 2019 in the Training Room of the Satula Avenue Government Building. The following were in attendance: ACCGov Pension Board Ordinance - Section 1-14-15 Members: 1. Mike Hamby, Commissioner and Pension Board Chair 2. Blaine Williams, Manager 3. David Boyd, Finance Director 4. Jeff Hale, Human Resources Director 5. Bob Snipes, Retiree Representative 6. Kevin Gentry, General Employee Representative 7. Mike Hunsinger, Public Safety Employee Representative Ex Officio members: Judd Drake, Attorney Laura Welch, Assistant Human Resources Director Traci Mason, Benefits & Wellness Administrator Other ACCGOV Professionals: Deborah Lonon, ACCGov Assistant Manager Josh Edwards, ACCGov Assistant Manager Chris Caldwell, Assistant Finance Director Eric Griffin, Treasurer John Hawkins, ACCGov Chief Assistant Attorney The meeting was called to order at 3:32 p.m. Chairperson Mike Hamby opened the floor for discussion of the PFM contract for investment consulting services. Bob Snipes moved to approve the contract, seconded by Jeff Hale. The motion passed unanimously. Chairperson Mike Hamby opened the floor for discussion of quotes received by three banks to serve as custodian of the Pension Fund: BNY Mellon, US Bank, and Wells Fargo. David Boyd moved to approve US Bank as the new custodian of the Pension Fund to replace State Street Bank, seconded by Jeff Hale. The motion passed unanimously. Members of the board discussed the purpose of appropriate response to the Investment Suitability Questionnaire distributed by PFM. Jeff Hale clarified that PFM was seeking preliminary information regarding the risk tolerance of individual board members and the board as a whole. Blaine Williams submitted his completed questionnaire to Secretary Laura Welch. ACCGov PENSION BOARD Minutes – Special Called Meeting, October 23, 2019 Page 1 of 2 DRAFT Bob Snipes expressed interest in establishing policy for managing the Pension Fund separate from the Investment Policy Statement. Staff will seek sample policy statements from other jurisdictions to share with the board. Blaine Williams moved to adjourn the meeting, seconded by Jeff Hale. The meeting adjourned at 5:08 p.m. Respectfully submitted, Laura Welch, Assistant Human Resources Director Secretary to the Pension Board ACCGov PENSION BOARD Minutes – Special Called Meeting, October 23, 2019 Page 2 of 2