Pension Board

DRAFT MINUTES UNIFIED GOVERNMENT OF ATHENS-CLARKE COUNTY PENSION BOARD REGULAR MEETING Wednesday, February 12, 2020, 9:00 AM The Athens-Clarke County Pension Board held its regular meeting on Wednesday, February 12, 2020 in the Satula Avenue Government Building Training Room. The following were in attendance: ACCUG Pension Board Ordinance - Section 1-14-15 Members: 1. Mike Hamby, Commissioner and Pension Board Chair 2. David Boyd, Finance Director 3. Jeff Hale, Human Resources Director 4. Mike Hunsinger, Public Safety Employee Representative 5. Kevin Gentry, General Employee Representative 6. Bob Snipes, Retiree Representative Absent: Blaine Williams, Manager Ex Officio Members: Judd Drake, Attorney Laura Welch, Secretary, Assistant HR Director Traci Mason, Benefits & Wellness Administrator Other ACCGov Professionals: Josh Edwards, Assistant Manager (arrived 3:45 p.m.) Eric Griffin, Treasurer The meeting was called to order at 9:01 a.m. David Boyd had one change to the November 13, 2019 minutes: in the fourth paragraph, third line, strike “and the return was 8.34% for the last 12 months.” Bob Snipes moved to approve the minutes with the change, seconded by David Boyd. The motion passed unanimously. Bob Snipes moved to approve the minutes of the December 11, 2019 Special Called Meeting, seconded by Kevin Gentry. The motion passed unanimously. Jeff Hale moved to approve the minutes of the January 15, 2020 Special Called Meeting, seconded by Kevin Gentry. The motion passed unanimously. Mike Hamby presented the board with the list of new retirees from October 1, 2019 to December 31, 2019. Minutes of the ACCGov Pension Board February 12, 2020 Page 1 of 2 DRAFT Pension Investment Activity through December 31, 2019 was not available yet from State Street Bank. This will be summarized and distributed to the board via email as soon as it becomes available. PFM Representatives Allison Corbally and Scott Stitcher (present) and John Spagnola (via conference call) distributed the company’s Capital Market Assumptions and Overview of Economic Fundamentals and provided a summary to the board. The board held a discussion of the latest draft of the Investment Policy Statement and directed PFM to incorporate revisions into a new draft to be reviewed and voted on at a special called meeting, the date and time of which is to be determined. The meeting adjourned at 10:40 a.m. Respectfully submitted, Laura Welch, Assistant Human Resources Director Secretary to the Pension Board Minutes of the ACCGov Pension Board February 12, 2020 Page 2 of 2