Pension Board

DRAFT MINUTES UNIFIED GOVERNMENT OF ATHENS-CLARKE COUNTY PENSION BOARD REGULAR MEETING Thursday, March 12, 2020, 4:00 PM The Athens-Clarke County Pension Board held a special called meeting on Thursday, March, 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. Blaine Williams, Manager - ABSENT 3. David Boyd, Finance Director 4. Jeff Hale, Human Resources Director 5. Mike Hunsinger, Public Safety Employee Representative 6. Kevin Gentry, General Employee Representative - ABSENT 7. Bob Snipes, Retiree Representative Ex Officio Members: Michael Petty, Attorney (in attendance for Judd Drake) Laura Welch, Secretary, Assistant HR Director Other ACCGov Professionals: Eric Griffin, Treasurer The meeting was called to order at 4:03 p.m. The board discussed the Investment Policy Statement and the incorrect (70% Equity/30% Fixed Income) asset allocation that had been included in the document approved at the March 4, 2020 meeting. modification of Investment Policy Statement . Staff explained that the incorrect asset Formatted: Strikethrough allocation had resulted from a misunderstanding during a staff discussion with PFM representatives. In the latest draft, PFM made a change to the Investment Policy Statement to Formatted: Strikethrough reflect the board’s wish to reconsider a 70/30 asset allocation. Bob Snipes moved to retain the 65% equities/35% fixed income asset allocation. David Boyd seconded the motion. Hale, Commented [O1]: Did Dave second the motion and then Hamby, Hunsinger, and Snipes voted yes. David Boyd voted no. The motion was approved. vote against the motion? Did Mike Hunsinger actually second the motion? Bob Snipes made a motion to indicate the correct percentages reflecting 65% equities/35% fixed income asset allocation on pages 7 and 1114 of the red-lined version of the Investment Formatted: Strikethrough Policy Statement, seconded by Jeff Hale. Hale, Hamby, Hunsinger, and Snipes voted yes. David Boyd voted no. The motion was approved. Mike Hunsinger moved to adjourn the meeting, seconded by David Boyd. The meeting was adjourned at 4:46 p.m. Respectfully submitted, Minutes of the ACCGov Pension Board March 12, 2020 Page 1 of 2 DRAFT Laura Welch, Assistant Human Resources Director Secretary to the Pension Board Minutes of the ACCGov Pension Board March 12, 2020 Page 2 of 2